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How does a student overdraft work watch

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    Feel free to move this to the right forum

    I know generally how current accounts work, I'm just specifically looking into when does the overdraft need to be paid back ? (i've never had or needed one before)
    Beginning university this week and i've been extra lenient on my budget since it's my birthday at the end of the week and my student loan comes in next week so I know by the end of next week i'll be financially sorted, i just wanted to buy all my stuff now so i'm currently £30 overdrawn

    when does this need to be paid back ? is it similar to a credit card like paying back a specified amount each month or not.. I bank with santanders 123 student account if that makes a difference
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    (Original post by SamuelSingleton)
    Feel free to move this to the right forum

    I know generally how current accounts work, I'm just specifically looking into when does the overdraft need to be paid back ? (i've never had or needed one before)
    Beginning university this week and i've been extra lenient on my budget since it's my birthday at the end of the week and my student loan comes in next week so I know by the end of next week i'll be financially sorted, i just wanted to buy all my stuff now so i'm currently £30 overdrawn

    when does this need to be paid back ? is it similar to a credit card like paying back a specified amount each month or not.. I bank with santanders 123 student account if that makes a difference
    student overdrafts generally only need paying back once you've graduated
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    (Original post by claireestelle)
    student overdrafts generally only need paying back once you've graduated
    merci,
    so does that mean when my student loan goes in it'll just pay it back automatically since i'll be in credit then ?
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    (Original post by SamuelSingleton)
    merci,
    so does that mean when my student loan goes in it'll just pay it back automatically since i'll be in credit then ?
    exactly
 
 
 
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