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Student Banking. ( No longer student)

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  • 06-12-2012 10:39am
    #1
    jonnybangbang
    Registered Users Posts: 148 ✭✭


    Hi, I was just wondering what are the downsides to having a student account even though I'm no longer a student? :D


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    #2
    Bank of Ireland: Graham
    Closed Accounts Posts: 371 ✭✭Bank of Ireland: Graham


    Hi jonnybangbang,

    Thanks for your post. There are two types of student account; 2nd Level and 3rd Level.

    2nd Level Student Account services include lodgements, withdrawals and the availability of an ATM/Debit card. Cheque book, direct debit and standing order or overdraft facilities are not available. These facilities are available on a 3rd Level Student Account.

    If you currently have a 3rd Level account and have graduated, you can apply for our Graduate Account. On both our student accounts and the graduate account, no quarterly transaction fees are payable.

    If the graduate package doesn't apply to you and you're no longer in full time education, your account will be changed to a Personal Current Account. You can find out more information on all of these accounts by clicking on the hyperlinks or by downloading our Schedule of Fees and Charges for Personal Customers.

    To amend your account type, please get in touch with your account holding branch directly. You can find contact details for your branch here.

    If you have any other questions, please don't hesitate to ask.

    Thanks,
    Graham


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    #3
    jonnybangbang
    Registered Users Posts: 148 ✭✭jonnybangbang


    Thanks Graham for your reply. I have graduated but it was about 7 years ago. I only found out i had a student account when i rang to check if i was payg or quarterly fixed rate on my account for the new bank charges on the accounts. I was told my account is student and doesn't have any bank charges. ( happy days. )

    Basically i want to know what disadvantage if any, is there if I was just to leave me account the way it is. Will it affect my credit rating if applying for a mortgage/loan in future? Is there any products that i will not qualify for if I have a student account?


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    #4
    Bank of Ireland: Graham
    Closed Accounts Posts: 371 ✭✭Bank of Ireland: Graham


    You're welcome.

    There are limitations on the credit facilities available to student account holders. As you're no longer a student, we'd advise you to contact your branch to notify them to ensure your account type is eligible for any future credit applications.

    As a personal current account holder, you can choose the flat fee option of €11.40 per quarter for up to 90 transactions which may help you save on fees.

    Thanks,
    Graham


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