STUDENT CURRENT ACCOUNT

What’s an arranged overdraft?

An arranged overdraft is a type of borrowing facility, it lets you borrow money through your bank account. Typically used for: an unexpected bill or an emergency expense, it's a convenient way of accessing extra money when you need it quickly.

Am I eligible for an arranged overdraft?

• You need to be aged 18 or over to apply for an arranged overdraft. You can request an arranged overdraft during your application for the Student Current Account.
• Overdrafts are subject to application and approval, and are repayable on demand.

How much arranged overdraft do I get with the Student Current Account?

• You can get a fee-free arranged overdraft up to £1,500 for the length of your course plus an extra year after you graduate (subject to status).
• The amount of arranged overdraft you get depends on your circumstances and you’ll need to be 18 or over and live in the UK.
• Overdrafts are repayable on demand.

What interest fees are charged on overdrawn balances?

See the Student Current Account arranged overdraft fees for more information.

Confused by some of the overdraft jargon?

Take a look at our glossary to help understand some of the common terms used when talking about overdrafts.

If you’re moving use our branch finder to locate your nearest branch. Also make sure you let us know your new address if you already hold any account with us.

We’re here to help right the way through your studies and when you graduate you’ll get the same offers and features of this account for up to a year. After, we’ll move you over to our Reward Current Account. But don't worry, we’ll write to give you two months' notice before your account changes.

We have designed the Current Account Switch Service to let you switch your current account from one bank or building society to another in a simple, reliable and stress-free way. It will only take seven working days. As your new current-account provider we offer the following guarantee.

• The service is free to use and you can choose and agree your switch date with us.
• We will take care of moving all your payments going out (for example, your Direct Debits and standing orders) and those coming in (for example, your salary).
• If you have money in your old account, we will transfer it to your new account on your switch date.
• We will arrange for payments accidentally made to your old account to be automatically redirected to your new account. We will also contact the sender and give them your new account details.
• If there are any issues in making the switch, we will contact you before your switch date.
• If anything goes wrong with the switch, as soon as we are told, we will refund any interest (paid or lost) and charges made on either your old or new current accounts as a result of this failure.

For more information and FAQs, please read the Account Switching Guide (PDF).