Student bank account, no longer a student, not in overdraft, want to close account

scalecat

Hi guys,

I'm in a bit of a sticky situation. I dropped out of uni 2.5 years ago, 1.5 years into my degree. It was such an emotional time and I had so much to sort out in terms of quickly finding employment, paying off my student loan etc, that it didn't even occur to me that I'd need to notify my bank that I was no longer a student and therefore no longer eligible for the student overdraft facility. It's only recently that I realised... "!!!!!"

I've been working ever since I dropped out, at first part-time stuff but more recently in a well paid salaried job. I also started part time study (32hrs a month) just a few months after dropping out, which I am yet to graduate from. I haven't been in my overdraft for a while but did dip in and out initially.

My question is, what should I do? Can I just write to the bank requesting to close my account? In my bank t&c's, they state that an account closure needs to be put in writing. As I said, I'm not in my overdraft so it shouldn't be a problem in that respect. Technically I should be graduating (from the original course) this year. I can't find a single bit of information on the internet about closing a student bank account that is out of the overdraft and before graduation. But it's totally possible (albeit uncommon) that someone would be able to pay off their overdraft and close their account at or just before graduation, right? For example a family member could have theoretically helped you to pay off your overdraft?

I've read a few forum threads from people in similar situations and the consensus is that it shouldn't be a problem. But obviously I'm still worried that they'll find out and request that I pay for the time I've had the overdraft option despite not being a full time student.

Any advice or first hand accounts of similar experiences would be so appreciated! If you think writing a letter is the best way forward, what do I need to put in it? Thankyou!

18cc

I am assuming that you have another bank account that you can use if you close the student one maybe the best thing to do would be to switch your student bank accounts into your bank account that you are using that will automatically close it

just ask the bank you are with to switch the account into yours you don't have to tell him it's a student account just giving the sort code and account number

Dobbibill

You can close it and don't have to give a reason why. Not everyone who has a student account is eligible for an overdraft or if they are, then don't use it. Don't overthink it.

Or as already pointed out you can switch your student account into your current account so if you had any DDs etc on it they would automatically move over for you.

A 3rd option is you can switch it into a brand new current account and gain a reward/cashback etc for doing so.

scalecat

Thanks a lot, guys! For closing the account, is there anything specific I should mention (or not mention) in the letter?

Dobbibill

Go with something along the lines of.....

To Whom It May Concern,

Please close my student account, sort code xx-xx-xx account number xxxxxxxx, with immediate effect as this is no longer required.

Kind regards,

scalecat

18cc

Your name and address and the date tell them you want to close your account give the account number and sort code and say you want any balance sent to you as a cheque. Say thank you and then your signature