An adult trying to open a first current acount

book12

Hi all,

I am about to graduate from university soon. I have been using my instant savings account (with card) to pay money in (e.g. grants, student loans) and using it to get cash and spending it from a child till now. By the way, that is my only bank account. Now I think it will be better to have a current account. Do you think I would get refused one, as I will be seeking a job after graduation, and might not guarentee to find one straight away (some application form ask me to fill in employment details).

Another thing is that if I don't find a job after graduation straight away (I will still be actively seeking for a job obviously), and on the application form I put 'unemployed' or 'not working' for employment status, I am worried that I would get declined for a current account. I don't want a basic account and then needing to upgrade -don't want that hassle .

The last thing is that the financial details section of the form. If I really can't find a job when I try to open a first current account, that means the savings would be the only input to the current acount. Not sure if they allow a small amount to open and fund the current account.

Basically, the employment and financial things on the form are worrying me opening my first current account.

I think I would use a little bit of my savings to support the income for the current account....

Do you think banks will open a current account for first timers no matter what the circumstances are?

Any suggestions appreciated.

grumbler

Majority of current accounts don't require monthly credits and can be opened with £1 balance. In you circumstances I think you have better chances to be accepted for a non-basic account while you still are a student.

P.S. Many basic accounts come with Solo or Visa Electron debit card and allow Standing Orders and Direct Debit. This is better than a cash card you have now. You can have many current accounts. If you think that upgrading is a hassle (why?) you can just open a new account later.

book12

grumbler wrote:

Majority of current accounts don't require monthly credits and can be opened with £1 balance. In you circumstances I think you have better chances to be accepted for a non-basic account while you still are a student.

I mean, I would be applying for a current account after graduating from uni though...

grumbler

book12 wrote:

I mean, I would be applying for a current account after graduating from uni though...

Why wait?

book12

grumbler wrote:

Why wait?

I just want to. No point for a student account, as I'm almost graduating (3rd year).

book12

I assume that if I can't find a job after graduation in a few months time, I guess I would be declined for a current account then. Can't I use my savings as a funding for the current account for the time being. Hope that is acceptable for a method of fundng a current accounr for the time being when I'm still finding a job...

grown_up_girlie

I think you should open a basic current account - you shouldn't have any problems in opening one, although chances are you will have to live with just a cash card for a few months until youre up on your feet in a job with regular money going into the account..... once you have done this I am sure the bank you chose will have no problems with upgrading your account to one with a Visa debit card or something similar.

Reason I am so confident that you could apply successfully in opening a current account is that if they have allowed me with severe credit problems then you with no credit history should be able to obtain at least a basic account.

Good luck - I hope this helps you.