Student Current Account.

My daughter is wanting to change banks, she is 17 in a few months.

Just looking at Lloyds, they offer a £1000 free over-draft!!

I guess they have got to learn sometime, but I am just a little concerned that they are allowed to borrow, £500 in the first six months.

I believe Lloyds is the one she was changing to.

http://www.moneysavingexpert.com/students/Student-bank-account#table

Im surprised by this, when my son applied for a current account he was told he couldnt have an overdraft as they cant lend money to anyone under 18?

If I remember rightly its because an U18 cant sign a contract, which is what an overdraft is.

It means that if they get into debt the bank cant take them to court for it.

It is the undergraduate accounts that come with the large overdrafts.

She wont be starting uni yet so she wont be getting one of those accounts.

This is more likely.

https://www.lloydsbank.com/current-accounts/all-accounts/under-19s-account.asp

It is the undergraduate accounts that come with the large overdrafts.

She wont be starting uni yet so she wont be getting one of those accounts.

This is more likely.

 

https://www.lloydsbank.com/current-accounts/all-accounts/under-19s-account.asp

This Lloyds and the Co-Op, You must be 17 or over

Maximum interest-free overdraft limits

Year 1

£1,400. £1,500 tiered in the first year:

£500 for the first 6 months,

£1,000 in months 7-9,

£1,500 after that.

Its in the link is you compare the accounts.

This Lloyds and the Co-Op, You must be 17 or over

 

Maximum interest-free overdraft limits

Year 1

£1,400. £1,500 tiered in the first year:

£500 for the first 6 months,

£1,000 in months 7-9,

£1,500 after that.

 

Its in the link is you compare the accounts.

and be studying on a full-time course that's at least two years long, or be on a one-year access course leading onto a full-time degree.

You missed the bit out where it points you towards it being an undergraduate account.

and be studying on a full-time course that's at least two years long, or be on a one-year access course leading onto a full-time degree.

 

You missed the bit out where it points you towards it being an undergraduate account.

A 17 year old that is not working?

Read the page. The accounts are for students starting university and not A level or college students.

If your daughter isnt starting uni then she isnt getting the account you identified. She is more likely to get the account I suggested. No overdraft.

Read the page. The accounts are for students starting university and not A level or college students.

If your daughter isnt starting uni then she isnt getting the account you identified. She is more likely to get the account I suggested. No overdraft.

"You must be 17 or over, have lived in the UK for the past three years and be studying on a full-time course that's at least two years long, or be on a one-year access course leading onto a full-time degree."

"You must be 17 or over, have lived in the UK for the past three years and be studying on a full-time course that's at least two years long, or be on a one-year access course leading onto a full-time degree."

You are spectacularly unhelpful. You havent bothered to provide any details except she is 17. If for some reason hey decide to give her the normal student account then any o/d is still subject to status. You can look this up for yourself as you only ever argue with people who take the time to answer your questions, you do it time and time again.

Just read the T&Cs that clearly say that you must be over 18 to apply for the overdrafts.

Just read the T&Cs that clearly say that you must be over 18 to apply for the overdrafts.

Thanks, I havnt read that far,

Im surprised by this, when my son applied for a current account he was told he couldnt have an overdraft as they cant lend money to anyone under 18?

 

If I remember rightly its because an U18 cant sign a contract, which is what an overdraft is.

It means that if they get into debt the bank cant take them to court for it.

ignore me, i'm possible wrong