Student account for non student

riderross

I applied for univeristy and got accepted. However I have been been sucessful in gaining an apprenticeship.

Could/should I open up a student account transfer the overdraft to a savings account. I have the acceptance letter for the course. I know that Natwest start their campaign for students accounts tomorrow(thursday 19). Im interested in the railcard.


Any ideas
Thanks in advance

R

Catbag

I don't know for certain, but i'd imagine that's not a great idea. The student accounts offer interest free overdrafts and in the event of you leaving uni (at any point) i believe this then reverts to a straight forward overdraft for which interest must be paid. It is basically fraud by false representation since you are knowingly representing yourself as a student and i'd advise strongly against it.

riderross

Thanks for your reply. I won't be doing that then.

The reason why I asked was because when I went into the bank to ask about student accounts(this was when I was goin to uni), the advisor brought up that several people get student accounts who aren't actually students go un-noticed because the make the several credits and debits every term. I thought it would've been a good way to get some extra interest through saving the overdraft.

nimbo

seriously not a good idea....

in my second year i had the bank pull my overdraft instantly....

the lure to spend the money may be waaaaaay to bad, and if they find you out you could end up with CCj's and wreck your credit rating for 6 years....

stephyt23

Unless it's already open you have to show letters from UCAS anyway so without that you couldn't get one

Indie_Kid

With Lloyds, they have to confirm that you have an unconditional place (ie, results day or after) before thye'll give you the full student account.