Help with graduate accounts

Flower08

I will finishing university this year (May) and i know i am thinking ahead a bit here but i like to plan!!

I dont really know much about graduate accounts and wondered if someone can help me.

When i finish i wont be going straight into a full time career, i am planning on taking a few months out, carrying on with my volunteering and work experiences and getting settled into the new town i am moving to before i think about starting my career.

So what i wondered is do i have to be in a full time career to be entitled to a graduate account? And how much needs to be going into the account? I will be working part time while i continue with my volunteering but it obviously wont be the amount i am hoping to earn in my career.

Also when can i get the graduate account? Can i get it as soon as i finish in may? Or do i have to wait until i have had my graduation ceremony?

Also any advice on the best graduate accounts would be great!!

Sorry for the long and boring post!! Thanks for any help!!

olly300

Most banks will automatically change your account to a graduate account by the Autumn after the year you graduate. So if your graduation ceremony is in July 2009 then you should have a graduate account in September 2009. They will then give you offers like loans dependant on the job you are doing and your income.

I suggest you read the small print of the student current account that you have already to see what they state about having a graduate account, and any terms and conditions for paying back overdrafts. Some banks you 12 months to pay back overdrafts that you acquired as a student before they start charging you others more/less.

Flower08

Thanks for the info, the only reason i want to know when to apply is because i dont want to stay with my current bank as they have the worst graduate benefits out of all of them - thats why i need to know when to apply for a new -if that makes sense!!
Thank you anyway

whitfreak

While you are thinking ahead, bare in mind that the graduate accounts normally get tweaked around july time. So the accounts your looking at now might have different conditions and perks to the ones availible now. Although I wouldnt expect major changes though in the main points like how long you have an overdraft for and how it reduces.