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Not all Graduates require the same facilities, from their bank account. However with most students leaving university with some debt it is likely that the majority of new graduates require an overdraft facility.
Don't automatically stick with the bank/building society which looked after you during your student days. DON'T BE AFRAID TO SWITCH.
Remember it is always cheaper to have an arranged overdraft, tell your bank if you are going to go overdrawn they won't want to charge you. Remember in a few years you are more likely to be a wealthy customer, they want to secure your business.
Note you are not only choosing somewhere to draw your money from. To bank, save and spend most efficiently you need:
- Credit Card
- Loan
- Overdraft
- Savings
- A fixed point to pay your salary into / take direct debits from.
These don't have to come from the same provider. The bank account is for the salary payments and direct debits
and the overdraft. Salary payments and direct debits, cash machine access etc are fairly standard, therefore the important factor is the overdraft and other borrowing provisions.
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