Gap year and bank accounts!

Subitosarah

My son has decided to take a gap year on finishing his A Levels. This gap year is, in effect, 18 months with the holiday periods included. If he wants to open up a student bank account, is he technically a student or not. And will he be entitled to the student free overdraft if he's technically not studying? I'm sorry, but I'm a bit confused!!

Blacksheep1979

They quite often require proof of being a student ie letter from lea or university and or a payment of a student loan before they give the account 'student' status or give an overdraft. I'd advise not using the overdraft before uni as he'll need it when he's there.

techno_geek

I know that HSBC do a Gap Year account - you don't get the interest-free overdraft, but you get a £250 limit credit card and the account automatically converts into a student account after a year.

Your son will need to produce proof that he has a place at university.

If he's planning on going abroad, it's best he gets a Nationwide FlexAccount instead - fee-free cash withdrawals and card purchases while abroad, which will save him lots of money!

Broke_Student

Hi. I am also a gap year student between A-Levels and university. As far as banks/legal matters are concerned your son in an unemployed adult. 'Gap year student' is unfortunately not a status.

Is your son working for part of his gap year? If so I would advise him to get an interest free credit card right away (if he is planning to get one as a student). He will be given a much better credit limit as what looks like an employed taxable adult than he will when he is a student with no income.

He can then get his student bank account next year with the rest of the university freshers. He may be able to get a few extra freebies by signing up at the freshers events etc...

b3n

I have a question, my son is also unemployed but has no income at the moment and not on benefits, what does he need to open a bank account apart from his passport? I pay the bills and he lives at home so doesn,t have utility bills or any thing in the way of proof. Which banks will accept my bills and letter from me?

username

Does he have a driver's license (provisional or full)? Usually that will suffice as proof of address.

betrobakes

I was able to open a 'Pre Student' account with HSBC even though I'm undecided on going to university next year. My driving license was sufficient ID too.