Features & benefits

Your overdraft explained

Our FlexStudent account puts you in control with a flexible overdraft

We know money can be tight in university, that's why we've designed the FlexStudent overdraft to grow with you during your studies. It can provide a useful short-term buffer if your spending is more than your income, but like all borrowing, it has to be repaid at some point.

While you're a student

Flexstudent overdraft during course - explained

Example for a 3 year course

In your first year, you can have an overdraft of up to £1,000. Your maximum available limit increases each year (up-to a maximum of £3,000). You are able to request a change to your overdraft limit at any point during your time at university (within your maximum available limit) - we won’t increase it unless you ask us to.

After you graduate

Flexstudent overdraft after graduation - explained

Example for a 3 year course

When your course comes to an end, we’ll move your FlexStudent to our FlexGraduate account. Your overdraft remains interest-free and fee-free and reduces in steps after you graduate (up to 3 years, dependent on course length) to help you stay in control of your finances.

FlexStudent Overdraft Representative Example

If you use an arranged overdraft of £1,200 the amount we will charge you is 0p per day (variable).

What do I need to do to remain eligible for my overdraft?

You'll need to pay in at least £1,500 per year of study* across two or more transactions. This can include your student loan, money from family members or any other income.

You’ll also need to maintain a good credit record, whilst also demonstrating good account behaviour by keeping up with any payments you’re required to make and staying within your overdraft limit.

If you're unable to meet any of these criteria, your overdraft may be reduced or removed.

*Year of study refers to each 12 month period after your course start date.

What happens if I go over my arranged overdraft amount?

The account is designed to prevent you from going over your agreed overdraft limit. However, in the unlikely event that you do go over your agreed limit, we still won’t charge you.

You’ll simply need to bring the balance back within your agreed limit before you can carry on using your account. If you don't bring it back, you'll be unable to take cash out, and will be unable to use your card to purchase items (both in store, online and via the telephone).

To help you keep on top of your finances, why not register for text alerts.

What happens if I leave university early?

If you leave your course before completing it, you'll need to let us know. Call 0800 30 20 11 or visit us in branch and we'll discuss your options. You can choose to open one of our other current accounts that may suit your needs.

Play video - | FlexStudent video

Watch a quick video about the FlexStudent overdraft

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