Still have HBOS graduate account over 1 year after graduating

Grivel

I had an HBOS student account during uni which automatically turned into a graduate account for a year after graduation. After this year I was told it would automatically turn into a regular current account and I would have to pay interest. 5 months after this year has passed, I still seem to have a graduate account and haven't been charged interest.

I considered letting them know, but due to the new interest charges they plan on implementing I have decided that once I start my new job (next month) and get back into credit I am going to switch bank account.

My question is, if they realise that they should have been charging me interest for the last 3-4 months can they claim the interest I should have been paying back?

kriss_boy

If I remember correctly I got away with having my 0% overdraft about 3 years after graduating!!

I remember a girl in the bank noticed it and asked me about it and I asked her to keep quiet as no-one had noticed!! Wasnt till another year or so till I got a letter saying the overdraft expired in X amount of weeks.

vaporate

Natwest its 3 years interest free. Highly advise getting shot of it though asap. Don't want debt.

Newbie2saving

Same thing happened to me! Kept my graduate HSBC account for nearly 3years, so maintained all the benefits. I wouldn't worry, seems common place. Good luck with the new job.

Extant

They are unlikely to ask you to re-pay any interest if they haven't automatically switched you back. Although I wouldn't take it for granted - start reducing it now. It may be next year that they notice, and then you're not going to be happy.

minerva_windsong

Check your bank statements - Halifax didn't tell me they were changing my student account to a normal account (it's a long story but basically once I turned 18 they refused to pay interest on my account unless I got a student one, not realising that it was possible for 18 year olds to not yet be at uni, and then changed the account halfway through my first year of uni without notifying me) so you may already be paying debit interest.

Otherwise, I'd pay it back as fast as you can, but then I am one of those people who doesn't like to owe money to anyone.

Grivel

Thanks, like I say once I start earning again I'm going to change it.