Student account and current overdraft

Oldfield_Parker

Hi there,

I'm hoping to go back to university in the next couple of years and wondered if anyone would know what would happen to my current overdraft? If I stayed with my current bank, would the overdraft become interest free or would I still pay interest?

Thanks in advance!

eskbanker

I can't think of any reason that your current bank would decide that an existing overdraft would suddenly become free, simply by virtue of you studying again - you could obviously ask them but they may go the other way and withdraw your overdraft facility if you're going to be reducing your income significantly and potentially needing more money from them.

If you shop around you might find student accounts that you'd be eligible for when returning to university, but my understanding is that most such accounts are typically aimed at those attending first time round....

Ed-1

Oldfield_Parker wrote: »

Hi there,

I'm hoping to go back to university in the next couple of years and wondered if anyone would know what would happen to my current overdraft? If I stayed with my current bank, would the overdraft become interest free or would I still pay interest?

Thanks in advance!

If you upgrade your current account that has the overdraft to a student account your overdraft would become interest-free.

Oldfield_Parker

Thank you for the replies! That's a big relief!