Ramifications of Withdrawal upon Student Accounts

darbooka

If someone is a student and has had a student account but had to withdraw from their course unexpectedly for family reaons and is presently unsure of when (or if) the studies will be resumed, will the bank demand the overdraft back in full?
What happens if the overdraft has already been used and the former-student account holder cannot pay it all back immediately? Obviously there is a commercial risk taken by the bank with any overdraft it provides, but what happens in the circumstance where a student becomes genuinely unable to continue the course due to unforseen circumstances?

overworked

well...if it is an unforeseen family problem...and you ACCIDENTLY forgot to inform the bank im sure you would be able to bide somemore time to gather the funds to clear the account. As long as there is some activity on the account is should be ok, just because it is a student account doesnt mean a student loan will be paid into it, not all people get one,they may work part time for example which is why they only require you're main source of income to go into it.

charlie12

If you don't inform the bank, they probably won't know of your change in circumstances. They might be able to tell if they are expecting student loan deposits (if this is one of their requirements for the account). Concentrate on paying back the overdraft as your first priority and then inform the bank after this is done.