Cutting all ties with HSBC

djhworld

Hello there, I recently finished my degree course (although I haven't officially graduated as of yet) and I bank with HSBC.

I'm under the understanding that the company will switch my student account to a graduate one at some point in the future, and this graduate account slaps a massive amount of interest on the overdraft facility.

So I was wondering, would it be possible to move to say....Natwest onto their graduate account? Would I get the £2000 interest free overdraft straight away?

Anyone done anything similar?

weaponova

I finished my degree last year with a £2000 overdraft with HSBC.

Mine was turned into a graduate account which stays interest free for 1 year so there is no need to worry. By this time next year you will need to get the overdraft down to 1500, then the next year 1000 etc until its gone.

I have never been charged interest on the graduate account.

weaponova

Forgot to mention if by this time next year your over 1500 then you will get charged interest