Natwest: Converting a current account into a student account

ThinkingOfLinking

Hiya,
I'd like to hear from anyone who has done this.
I've been with Natwest for over 10 years now but am aware that they'd do a credit check if I was to apply for a student account to hold in addition to my current account. They offered to convert my current account into a student one.

I was wondering, can anyone else tell me:

Do you know if you'd still get the free railcard?
Do you get to keep the same overdraft limit you've already got?

devildog

My daughter did this last year, yes she still got the free railcard.
She didn't have an overdraft so I can't answer for that part.

preable

Hey

Yes you can still get the free railcard and in regards to the overdraft you can apply for one

ThinkingOfLinking

Thanks but what I mean is:

My current Natwest Current account has an overdraft limit already in place, which has been in use for 7 years (I'm a mature student).

If I get this account converted to a Student one, will my overdraft be kept? If not, I will not be converting my account as I need my o/d facility!!

preable

I think the overdraft will be converted but best to check before you do it

ThinkingOfLinking

I will check...thanks for your replies. I'm just trying not to screw up my credit rating any further; dealing with everything at the moment via notes of correction to Equifax, Experian, etc.

ipswichblade

Flickering_Ember wrote: »

Thanks but what I mean is:

My current Natwest Current account has an overdraft limit already in place, which has been in use for 7 years (I'm a mature student).

If I get this account converted to a Student one, will my overdraft be kept? If not, I will not be converting my account as I need my o/d facility!!

I had a small overdraft on my Natwest current account before I started uni last year. I kept this current account and the overdraft and opened a student account with Natwest with the usual student overdraft and I got the railcard no problems.

MrTomato

Assuming you got your overdraft at 18; 7 years later you're now 25. The railcard is a 16-25 Railcard. So you're either not going to get it, or you'll only get it for the first year. Unless there are different rules.

StudentMoneySaver

I know they will convert your existing overdraft to a Student one, i.e. it will essentially become interest free if you have been previously paying interest.

ThinkingOfLinking

ipswichblade wrote: »

I had a small overdraft on my Natwest current account before I started uni last year. I kept this current account and the overdraft and opened a student account with Natwest with the usual student overdraft and I got the railcard no problems.

Thanks for answering but that's not quite was I was asking.

MrTomato wrote: »

Assuming you got your overdraft at 18; 7 years later you're now 25. The railcard is a 16-25 Railcard. So you're either not going to get it, or you'll only get it for the first year. Unless there are different rules.

Well, I know a mature student aged over 40 who has a 16-25 railcard issued; mature students are allowed these as long as they prove their student status...so the age won't be an issue.

StudentMoneySaver wrote: »

I know they will convert your existing overdraft to a Student one, i.e. it will essentially become interest free if you have been previously paying interest.

Thanks. That's what I was hoping to hear. How do you know?

StudentMoneySaver

They did it for me. I had a current account where I had 'accidentally' (helped out a friend with an emergency move and family with a funeral) built up a £1,200 overdraft. When I became a student I applied online for the Student account and they just changed the old current account to a Student account.

I'm not sure what would happen if the overdraft was more than £1,250 though as they only give you that amount in your first year.