Natwest Graduate Account help

Dotty12

My daughter graduated from uni in summer 2018 and she is currently enjoying a year of her overdraft being interest-free. She knows that in year 2 that only up to £1000 is interest-free but when does this begin?

Is it different for each account depending on when it was set up or is there a general nationwide date for this? nothing online gives any indication of when "year 2" begins

xylophone

https://personal.natwest.com/personal/current-accounts/overdrafts/graduate-overdraft.html


The amount of your Arranged Overdraft that's interest-free reduces each year after your graduation date. This is to help encourage you to pay back money you may have borrowed whilst studying. In your first year after graduation, up to £2,000 will be interest-free. In your second year after graduation, you can still have an overdraft of £2,000, but only the first £1,000 will be interest-free.

Dotty12

xylophone wrote: »

https://personal.natwest.com/personal/current-accounts/overdrafts/graduate-overdraft.html


The amount of your Arranged Overdraft that's interest-free reduces each year after your graduation date. This is to help encourage you to pay back money you may have borrowed whilst studying. In your first year after graduation, up to £2,000 will be interest-free. In your second year after graduation, you can still have an overdraft of £2,000, but only the first £1,000 will be interest-free.

Hi, thanks for replying but she already knows this. She just wants to know when the "second year" starts as she knows soon she'll be into it. But not sure when exactly.

April/May? September?

JuicyJesus

What did NatWest say when she called them?

They're really the only people who will be able to tell you for sure.

xylophone

Natwest make specific mention of the "graduation date".

What is the date shown on her degree certificate?

Or when did Natwest advise your daughter that her account had become a graduate account?

https://personal.natwest.com/personal/current-accounts/existing-customers/graduate-account.html

If you've just graduated, you don't need to do anything. Your Student account will automatically change to a Graduate account, and you can continue to use your card, online banking and mobile app as usual.

Prior to the account switch you should receive an email or letter detailing:

- the changes to your account
- the date of the switch


If the letter or e-mail does not clarify, she'll need to ask Natwest.

Weybridge78

My teacher training ended in July 2018. The interest-free on the first £1000 goes away from December 2019. You'll need to call NatWest to find out, as I found out over the phone first and received an email informing me of this not too long ago.

Dotty12

Weybridge78 wrote: »

My teacher training ended in July 2018. The interest-free on the first £1000 goes away from December 2019. You'll need to call NatWest to find out, as I found out over the phone first and received an email informing me of this not too long ago.

Excellent thanks for this. She has just started a new graduate job so if it is December it will be great news as she has a while to chip away at the overdraft and get it right down before then.

She remembers getting a generic letter last year explaining about all the info and now her account is a graduate one but she doesnt recall any specific dates being mentioned.