How long can you have a Barclays student account?

How long can you have a Barclays student account?

Whether you’re looking to start your first job, or travel the world, this account is available for three years after you graduate – which is the perfect next step after you’ve completed your studies.

What happens to my student account when I graduate Barclays?

If you have a Student Additions Account with us, when you graduate we’ll automatically upgrade you to a Higher Education Account, which is an account designed for graduates. The Higher Education Account is available for three years after you graduate – after that, you’ll be moved to another current account.

Can I get a student overdraft in third year?

There may also be limits depending on what year of study you’re in. For example, some banks may let you have a £1,000 student overdraft in your first year, which can be extended to £2,000 in your second year and £3,000 in your third year. Again, if you’re unsure about your student overdraft limit, contact your bank.

How long do you have to pay off a student overdraft?

You’ll have to pay off the overdraft eventually, usually after two or three years. The way banks try to encourage this is to reduce the maximum 0% overdraft each year – the idea being that by the time the 0% ends, you’ll have paid it off. Fail to do so, and you’ll be subject to astronomical charges and fees.

Does a Barclays student account have an overdraft?

Barclays allows you to have an overdraft on your Student Additions or Higher Education account. As long as you meet all criteria to open a student or graduate account with Barclays, you can apply for an overdraft either in branch or by calling 03457 345 345.

Can I open a bank account for my 16 year old Barclays?

You can only open an account in branch. You’ll need to bring in your ID (passport, national identity card or birth certificate) and your parent or guardian will need their ID and proof of address, such as a UK bank statement or utility bill.

Can you open a student bank account before results day?

You can open your student account as soon as you receive an offer letter from UCAS, either conditional or unconditional – you don’t have to wait until you’ve started term at university. To open a student bank account you will need: Proof of address: such as a recent utility bill or bank statement.

How long can you be in overdraft?

Overdrafts are available for as long as the bank authorises them, and for as long as you pay the fees and charges that they incur.

What happens if I go into my student overdraft?

You get charged fees for going over your overdraft limit If you exceed your overdraft limit, you’ll have entered into an unauthorised overdraft – at which point you’ll either face a penalty fee or your payment will bounce.

How do I get rid of student overdraft?

1. Check your account T&Cs.
2. Compare graduate accounts.
3. Set yourself a monthly target.
4. Create a budget to hit your goal.
5. Separate your spending money.
6. Steadily reduce your overdraft limit.
7. Switch to another fee-free overdraft.
8. Use a 0% money transfer credit card.

When to use an unarranged overdraft at Barclays?

An unarranged overdraft is when you spend more money than you have in your current account and you have not agreed an arranged overdraft limit with us in advance or you have exceeded an arranged borrowing facility. You can only make payments from your account if you have enough money in your account, or through an arranged overdraft, to cover them.

How can I get an overdraft for my student account?

If you already have a student or graduate account with us, you could apply for an arranged overdraft by calling 03457 345 345*, tapping the ‘Call us’ button in the Barclays app or visiting your local branch. Arranged overdrafts are subject to application, financial circumstances, borrowing history and lending criteria.

When do first year students get Barclays account?

This offer is available until 31 December 2019 to first-year students who open a Student Additions Account (or upgrade to a Student Additions Account from an existing Barclays account), download the Barclays app and whose main bank account is with us.

How much interest can I pay on a Barclays student loan?

With our student additions account, for example, at account opening you may be eligible for an interest fee overdraft of up to £500 in your first term and in increasing amounts of up to £3,000 while you are studying. No interest is payable on arranged overdrafts up to £3000.