Source
r/UKPersonalFinance•
Azaj1

Student with Graduate bank account

Banking

Hi guys,

I'm already in the process of sorting out my problem. But was also wondering if people had more advice.

Tldr: a Student between a foundation degree and BSc Top-up who had a student account, now has a graduate account, and was refused my student account back when I re-applied for it

I'm a 22 year old who finished their foundation degree in June with an automatic conditional offer by my university for a BSc Top-Up one year course. I was accepted in early July after I received my results

About 3 weeks ago, Santander contacted me with a letter stating that I had to make payments into my graduate account within the next 3 weeks in order to keep my overdraft. The problem here being that firstly, I used to be on a Student Account, and secondly, I was never notified of my account changing to a graduate account. As a Student in archaeology, fellow archaeologists can testify that it's impossible to get paid work at our level, everything you do is voluntary. Due to this, I lack the money for the required regular payments

Therefore, I went to my local branch and spoke to a banker. They accepted my re-application for a Student Account and sent it to the higher ups. About a week ago, I received a letter of denial for my account based on my top-up course being a 1 year course (apparently they do not allow student accounts for just one year). Since then I have contacted various people in Santander, who have all agreed with my re-application for my student account, and have got a meeting with the bank manager coming up. Is there anything else I can do to strengthen my chances of getting my student account back? I am, at this moment in time, a Student with a graduate account who cannot support said account financially

If you need more information, just ask (as long as it's not too personal)

And thanks in advance guys

Posted Sep 6, 2018, 9:41 PM UTC

47
fyijesuisunchat21•

Go to another bank.

If you don't want to do this, the money deposited into your bank account does not need to be "new"; cycle whatever you have in and out of another account (Starling or Monzo can have you up and running within minutes)

4
Azaj1OP•

The problem is that I have been using my overdraft for rental payment through the summer and had planned everything around this overdraft nd the fact of keeping my student account (everyone I know kept theirs)

Can I still switch banks with an overdraft or not?

1
fyijesuisunchat21•

An overdraft shouldn't be a problem as long as you're offered one large enough to pay off your current one.

1
Azaj1OP•

Ok, thank you man. I'll do this if my strategy from the other guy fails

1
BringThePayne420•

I had a similar situation with Santander when I did my foundation then did a top up. I kept mine a graduate account (however I knew that student loan would be incoming before the time limit and that would take care of the payments I needed) I then informed them that I was still in full time education and hadn't finished my studies (and as such shouldn't have the 0% overdraft repayments countdown start). They asked me to prove this so I showed them a letter from the student loans company to prove I was studying in the coming year. I hope this works out for you, I've now had a graduate account for two years and had to inform them last year that as I had only finished studying that was when the 0% countdown should start.

2
Azaj1OP•

I get the feeling that this'll be the ultimatum that will happen during my meeting with the manager. I'd rather get my student account back. But if they deny it, I'll bring this up. Thanks man, good advice

1
BringThePayne420•

No worries, good luck!

2