Opening a new graduate account!

alj105afc

hi guys

i have a grad account with natwest and am thinking about opening another with hsbc.

i am in my overdraft, but will that affect the possiblilty of opening a grad account with hsbc??

thanks for help!!!

whitfreak

If you want to transfer to hsbc, then the overdraft isnt a problem as long as it is not over what hsbc normally offer to graduates. (Why you would want to do that I don't know as hsbc give you a year to pay it all off, where as natwest give you 3 years on a reducing scale).

Or if you want a hsbc account without an overdraft, then that also shouldnt be a problem. Techincally graduate accounts are like student accounts in that you are supposed to only have one, so openning a second and keeping two overdafts increases the chances of one or both overdrafts being recalled immediately which is a rather painful situation to be in. But they do mininal checks so having two is possible, just be aware of the debt you could get yourself into.

Stubert

The banks usally check with each other, so its unlikely that they would let you have two graduate accounts. Its usually against their T&C's.

If you wanted to change banks, you would have to transfer your overdraft. One bank would pay off the other, but then you'd still be in debt with your new bank but they may give you a larger overdraft if thats what you're looking for.