Money can be tight at university, which is why the FlexStudent arranged overdraft is designed to grow with members during their studies.
Students registered on a UCAS course will be offered a guaranteed interest-free £1,000 overdraft in their first year of study, increasing to £2,000 in year two and £3,000 in their third year. We know that not everyone will need this amount. So, to support making borrowing manageable for students and not putting them in a difficult financial position, we only increase the limit if the member asks us to.
To support members with managing their account, they can use our Banking app, internet banking and register for text alerts. We don’t charge students any fees or charges for using the account.
After students graduate, they can continue holding their fee-free overdraft for up to three years. We appreciate paying back an overdraft can take time, so we support members in staying on top of their finances by slowly dropping the overdraft limit each year.
Banking overseas can be expensive, especially for student travel as gap years and semesters abroad can be longer than an average holiday. Therefore, account holders studying abroad or going on holidays benefit from completely fee-free foreign usage on the account.
All students are given a contactless Visa debit card and can make use of Apple Pay, Google Pay and Samsung Pay, allowing them easy access to their funds.