Help with Santander graduate account?
So during uni I basically maxed out my overdraft because I was really struggling and had no choice. So my debt was 2k :/. Bad, I know. But after I graduated I couldn’t find a job for a while as a graduate so couldn’t pay off much of my overdraft. I decided to just go back to uni for a masters course. As it’s a full time course and I have placement 5 days a week, it’s really hard to get a job on top of working full time basically for free… so I tried to get the account transferred back to a student account because I was being charged interest because they slowly reduce the arranged overdraft once you graduate. Santander said I couldn’t because they do not class postgraduates as students for the purposes of the student account. Therefore, I’m a full time student but am having to pay interest every month for my overdraft when I’m not currently working. Any ideas on what I should do?
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Original post by Lostcause01
So during uni I basically maxed out my overdraft because I was really struggling and had no choice. So my debt was 2k :/. Bad, I know. But after I graduated I couldn’t find a job for a while as a graduate so couldn’t pay off much of my overdraft. I decided to just go back to uni for a masters course. As it’s a full time course and I have placement 5 days a week, it’s really hard to get a job on top of working full time basically for free… so I tried to get the account transferred back to a student account because I was being charged interest because they slowly reduce the arranged overdraft once you graduate. Santander said I couldn’t because they do not class postgraduates as students for the purposes of the student account. Therefore, I’m a full time student but am having to pay interest every month for my overdraft when I’m not currently working. Any ideas on what I should do?
You need to look at banks that allow postgraduate students to open a student account. NatWest and RBS both allow this (they're two banks in the same group):
"You need to be a full time undergraduate student (on at least a 2-year course at a UK University/College) or you need to be completing a full time postgraduate or nursing course lasting a year or more. You can apply within 6 months of your course start date." (emphasis mine) (source: https://www.natwest.com/current-accounts/student_account.html https://www.rbs.co.uk/current-accounts/student_account.html)
Other banks might also allow postgrads to open student accounts (or have specific accounts for postgrad students) -- you'd need to check. But it seems like Santander don't.
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