Two Student Overdrafts?

MT90

MissPop wrote: »

AFAIK, one of the conditions of having a student account is that you have your student loan paid into that account, so I don't know how you have a student account with Natwest whilst having your loan paid into an HSBC account...

I have an account with Natwest. 2 years, maxed out overdraft, no student loan payments into it. They have once politely reminded me that 'you should deposits money into the account not just withdraw' So I withdrew from my main account, deposited, and withdrew a week later.

robin_banks wrote: »

Overdrafts are in effect repayable on demand, so why would you want to have 2 O/D's?

Yes they are. However several thousand pounds of 'free' money to put into a savings account can earn you a few £100, that over 3-4 years can be well worth it. If they demand the money back (very unlikely, students are one of the most valued customers, as they think once they hook us we are theirs for life) you can withdraw from savings and pay them back, no harm, no foul.