some help with accounts please?

mutedwhisper

Hi there,

Hopefully I'll explain this properly - when I joined Uni, I wasn't aware that you could get a student account (no idea how I missed this) and had racked up an overdraft of £1300. When I got the student account, they refused to let me transfer the overdraft to the student account so that I wouldn't be paying interest and gave me a £250 overdraft on this one.

I just graduated from Uni (although am currently on a postgrad) but just wondered what I should do in regards to the accounts. I like the idea of the graduate account (i.e reducing the amount each year) however, it says that they will change the student account, which only has the limit of £250, and therefore I'd still be left paying interest on the £1300!

Anyone know what to do - as in do you think RBS would transfer the current? Or even allow the graduate overdraft limit on the student account so that I could clear the current account?

I know that's kind of a ramble but it's kind of getting me down! Thank you in advance for any help at all. Kind of feel like I need suggestions to take to them as last time I just got someone staring at a screen telling me it was a big overdraft as if I wasn't already aware of that!

piratefairy

Have you been into the branch and spoken with someone face to faCE.
Personally, internet banking isn't an option, as I don't have internet access at home, and I find that speaking to people on the phone can lead to different agents telling you different thgings. I even got two different responses when I called HSBC to ask if a deposit had been credited to the account - on the same day.

I think your first step would be to speak to the branch, a graduate account may be a good idea, but bear in mind that to close your current OD account, there will be a requirement to clear the entire overdraft to close the account. Maybe your bank could advise a graduate account, with an interest-free OD limit for some of the amount, and a loan fior the rest so that you could payt it off in stages?

It shouldn't be as scary as you think - by making an appt to see them and talk about it, they at least will know that you are trying to remedy the issue.