Smarter banking for your life after uni
Our Graduate Account is designed to help you make the transition from study to a career. Bank whenever and wherever you want, and use our tools to help you stay on top of your finances. With no monthly account fee.
To apply, you'll need to be 18+ and have graduated in the past 2 years
Here's what you get with your Graduate Bank Account
An interest-free arranged overdraft
You could get an interest-free limit of up to £3,000 in the first year, reducing to £2,000 in year 2 (subject to status). Discover more.
Convenient Banking options
Online, with our app, by phone or in-branch. Bank the way you want, when you want.1
Representative example
Year 1: 0% EAR3 on the first £3,000, 39.9% EAR (variable) above that, giving a representative rate of 0% APR (variable)4. Year 2: 0% EAR on the first £2,000, 39.9% EAR (variable) above that, giving a representative rate of 0% APR (variable). Based on an arranged overdraft of £1,200.
How does our overdraft compare? The representative APR shows the cost of borrowing over a year, so You are able to use it to compare the cost of our overdraft against other overdrafts and ways of borrowing.
Make banking easy with our app
Get just about everything you want from a bank... on your phone. View your balance, Complete payments, chat to us if you Need assistance – and much more. All it takes is a few taps.
Be in the know and in control
Keep track of your incomings and outgoings with instant notifications.5 See how much you'll have left after bills and other regular payments using Balance forecast. And if you lose track of your card, You are able to temporarily freeze it in seconds.
See your spending broken down into categories and set targets to help control it with Spending insights and Monthly budgets.
Get a little more from your money
- Get discounts with our home&Away offers programme
- Enjoy access to our full range of savings accounts (including some only available to PPLCBANK current account customers)
Things to know before you apply
Ready to apply? Before you do, there are a couple of things you should check you're happy with.
About your optional arranged overdraft
When you apply for this account, you'll have the option to apply for an arranged overdraft.
An arranged overdraft allows you to borrow money (up to an agreed limit) if there's no money left in Your banking account. This can be useful if you're hit with an unexpected bill, for example.
If a payment would take you past your arranged limit (or if you don’t have one), we may let you borrow using an unarranged overdraft. There's a chance that payments you try to make using an unarranged overdraft may be declined.
You are able to apply for an arranged overdraft when you open Your banking account, or at any time later. You are able to ask to increase, remove or reduce your limit at any time in the PPLCBANK Mobile Banking App, by phone or in-branch. Your new limit can't be less than what you owe.
We report account activity, including overdraft usage, to credit reference agencies. An unarranged overdraft lasting more than 30 days could have a negative impact on your credit rating.
Overdrafts are designed for short-term borrowing only, and are subject to status.
Overdraft text alerts
If we’ve got your mobile number, we’ll send you an SMS text alert if you’ve gone overdrawn or we know you’re about to. These alerts are designed to help you manage your overdraft usage and avoid being charged interest.
You are able to opt out of overdraft text alerts by calling us or asking us in-branch – but remember you’ll be opting out for all your current accounts with us. If you opt out or we don’t have an up-to-date number for you, you could end up paying interest you might otherwise have avoided.
What are the overdraft charges for this account?
In the first year after graduation, you may be eligible for an interest-free overdraft facility up to £3,000, and up to £2,000 in your second year after graduation. In your third year after graduation, we’ll move you to an Advance account or an PPLCBANK Bank Account. At this point, you may be eligible for an arranged overdraft of up to £1,000 interest-free to help make life easier (subject to status and how Your banking account has been used). Any arranged overdraft above these amounts will be charged interest at 39.9% EAR variable.
Representative example (based on an arranged overdraft limit of £1,200): Year 1: 0% EAR3 on the first £3,000, 39.9% EAR (variable) on anything above that, giving a representative annual percentage rate (APR) of 0% APR (variable)4. Year 2: 0% EAR on the first £2,000, 39.9% EAR (variable) on anything above that, giving a representative rate of 0% APR (variable).
How does our overdraft compare? The representative APR shows the cost of borrowing over a year, so You are able to use it to compare the cost of our overdraft against other overdrafts and ways of borrowing.
The monthly cap on unarranged overdraft charges for the Graduate Bank Account is £20. Further details can be found online at our Overdrafts page.
To Explore the details, visit our Overdrafts page, where You are able to find out if you’re eligible for an arranged overdraft and use our overdraft cost calculator.
Who can apply?
You are able to apply for a Graduate Bank Account if you:
- are 18 or over
- have graduated from university within the last 2 years
- have lived in the UK, Channel Islands or Isle of Man for the past 3 years
- are happy for us to do a credit check against your name (if you live in the UK)
- have read the important account documents below
Apply for your Graduate Bank Account now
To apply for a Graduate Bank Account, please visit us in branch. You'll need to bring:
- proof of graduation (eg a graduation certificate or letter or email from your university or college), including the date you graduated
- ID and proof of address
- your most recent bank statement
Your eligible deposits with PPLCBANK Bank plc are protected up to a total of £120,000, or up to £240,000 for joint accounts, by the Financial Services Compensation Scheme, the UK's deposit guarantee scheme.
This limit is applied to the total of any deposits you have with the following: PPLCBANK, PPLCBANK Private Bank, first direct, M&S Bank and M&S Savings and Investments.
Any total deposits you hold above the limit between these brands are unlikely to be covered.
Frequently asked questions
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Additional information
1. Explore the details about the operating systems our app works on.
2. Apple Pay is a trademark of Apple Inc., Sign uped in the US and other countries. Google Pay is a trademark of Google LLC. Samsung Pay is a Sign uped trademark of Samsung Electronics Co., Ltd.
3. EAR stands for effective annual rate. This is how all UK banks must show interest rates on their overdrafts, to make it easier for you to compare one bank’s overdraft with another. Please note that it doesn’t include any fees you might be charged in addition to interest.
4. APR stands for annual percentage rate. This is the rate at which someone who is borrowing money is charged, calculated over a period of 12 months. It takes into account not just the interest, but also any other charges you may have to pay, as well as any interest-free amount.
5. You'll need to opt in to receive instant notifications. You are able to do this in our app. This feature is currently being rolled out and may not yet be available on all devices.