Barclays phasing out Graduate Additions? Confusing in-branch discussion

[Deleted User]

Hello,

I just went into my local branch to pay a cheque in and at the end of the transaction the cashier called his manager over. The cashier said he spotted I had a Graduate Additions account, but that Barclays were trying to phase these accounts out.

The manager didn't suggest I do anything, but said that I was currently being charged £7 a month for having the graduate interest free overdraft.

All very bizarre!

Now, I may be naive here, but I was not aware I was being charged at all for my account - I don't recall receiving any notifications or letters telling me this. My account always used to be free - and the manager told me that the reason for the £7 a month charge was to cover the cost of providing the interest-free overdraft.

I'm confused. How long has it been like this? What did they mean by phasing out the graduate additions accounts?

iblametheparents

Actually, for the £7/month you are actually getting mobile phone insurance, RAC roadside and at home assistance, and a certain part of your overdraft interest free (depending on when you graduated) - the rest of the overdraft is at a preferential rate.

The Graduate Additions account is an account you can hold indefinitely and I have not heard anything about it being phased out!

Have you definitely always had this account, can you check your bank statements? When did you graduate?

[Deleted User]

Mmm....I already have mobile phone insurance and don't drive...and my overdraft always was interest free when I had a 'standard' graduate account - I'm not paying interest on it, certainly.

The conversation was really odd. The manager told me that their staff had been told to keep an eye out for the Graduate Additions accounts and to approach the customer about changing them. I graduate in 2005 - might this have something to do with it? I've always been told that it's fine for me to continue having it (as the overdraft is interest-free, after all), but I'm assuming that internally Barclays want to get rid of people who've graduated a long time ago and put them onto more lucrative accounts.

I've had this account for - I think - a couple of years. Prior to that I had a student account (student additions?)