Student Account

David_Brent

At the moment im on my final year of my degree and when I applied for my student account with llyods tsb, I signed up for it for 4 years becasue to begin with I was going to do a 4 year course but instead of doing a placement, I decided to finish a year early and graduate. Do I have have to inform the bank about finishing a year early? Because obviously having this 0% student account is a bonus and I would like to keep as long as possible. Would I get in trouble for not informing them whilst keeping this account for a extra year? What implications would this lead to if any? Any advice would be of much interest.

fragster

very much doubt it would lead to problems but best thing to do is read the student a/c T&C, it will probably say in there

David_Brent

Thanks for the reply fragster I suppose i'll have to have a look through their fine print in their tems and conditions (which is a good few pages ::) ).

fragster

your welcome, sorry i couldnt be more help but since T&C etc can change I didnt wanna give specific advice, definitely best to find the exact T&C for your a/c type

moneyandmountains

As mentioned above, best to check your T&Cs.
However, if you want to stay with Lloyds, their graduate account does offer some similar benefits such as the 0% overdraft (well it did when i graduated) and I was allowed to keep it for 3 years.

If your account is ever in credit, then there is probably more of a problem with the Inland Revenue, i.e. if you are earning a moderate salary, then you won't be allowed to have an account that pays gross interest.

David_Brent

Thanks Moneyandmountains, im going to look into their graduate accounts and see what they can offer me, I like llyods they have been very efficient over the past years.

Stuart_Kirk

I am a student, banking with HSBC. I dropped out in Feb 04 in order to strat a new course in Sept and worked full time in between. HSBC didn't clock this, even though my weekly salary was being paid direct from my employer. I wouldn't imagine they would check the payments into every account that's student status, would they? So should be ok...