How long does Santander graduate account last?

For any 1I2I3 Graduate Current Account opened on or after 26 June 2017, the account will last up to 2 years before it automatically transfers to an appropriate current account. If your 1I2I3 Graduate Current Account has been opened prior to this date, it will last up to 3 years.

How long do you have to pay off Santander graduate overdraft?

If you cancel your arranged overdraft you must repay the money that you have borrowed under your arranged overdraft as soon as possible and no later than 30 days after you cancel it. You must also pay all the fees and interest applicable to your overdraft.

What happens to my student bank account when I graduate?

After two or three years, dependent on the bank, your graduate account will be converted into a normal current account – with all the interest and fees these entail.

How much can you overdraft with Santander?

Daily Fee Limits A maximum of six (6) Item Paid overdraft fees may be charged to a customer’s account per business day. – Paid overdraft item fees apply only when a transaction posts and the resulting account balance is overdrawn more than $5.00. A maximum of six (6) Item Returned fees may be charged per business day.

Can you have 2 student accounts?

Although you can have multiple current accounts or savings accounts, usually a condition of receiving the perks of a student account is that you pay your student loan into that account. Banks regularly check to see that this is happening. For that reason, you’re unlikely to be allowed more than one student account.

What’s the difference between a student bank account and a normal one?

The big difference between a normal account and a student account is many of the banks will give you an interest-free overdraft. Plus, it all needs to be paid back, and after you graduate it’s likely you’ll begin to get charged interest on any money you still owe.

Is it bad to be in your overdraft as a student?

While 0% overdrafts are useful and should help with cash flow issues while you’re a student, they’re never part of your income. Always remember, an overdraft is a LOAN and must be repaid (its rate will jump eventually after you’ve graduated).

What happens to your student bank account when you graduate HSBC?

Overdraft charges after you graduate If you have an HSBC Student Bank Account, your account will change to an HSBC Graduate Bank Account at the end of your third year. We’ll then ask you to start paying back your arranged overdraft, reducing it each year, giving you time to pay it back after graduation.

How much does Santander let you overdraft?

Is there a Santander account for graduate students?

The Santander 123 Graduate Account is only available for students currently on the 123 Student Account, meaning you can’t switch after graduation. However, the account does come with a little bonus that no other graduate account does: in-credit interest .

How much does a Santander 123 account cost?

“Our flagship 123 current account continues to offer great value, with customers able to earn up to £379 per year in interest and cashback for an account fee equivalent to just £60 a year, while 123 Lite customers can earn up to £180 a year in cashback for a fee of just £12 a year.”

What’s the interest rate on Santander student account?

Santander’s 123 student account currently offers an interest-free arranged overdraft of up to £1,500 in your first three years of study, plus pays interest of 3% AER on balances of £300-£2,000.

Do you get interest on a 123 student overdraft?

In addition, from 12 April, those with both the 123 student and 123 graduate accounts will no longer earn 1% interest on in-credit balances of up to £2,000, as this is being axed. There is, however, no change to how the overdraft works on the 123 student account – your entire overdraft will remain interest-free.