NatWest Student Account 2008-09: A Guide

NatWest Student Account 2008-09: A Guide




The student account is available from June 9th to October 31st 2008.
This is a guide to what NatWest offer Students for 2008/09. It is specifically UK resident students only guide. If you are an International Student then please start a thread and I can advise on your thread.
It is meant as a guide as to what the eligibility criteria is, what courses count, and what identification is required. I will then go into the Incentives such as the railcard/webcam offer. I then will go into the Student Credit Card and incentives with it and finally Student insurance that NatWest are doing.
Please be aware that I work for NatWest Bank and so I am offering the facts and not attempting to sell you the NatWest Student Account. You have to decide which student account is right for you, in your own circumstances and whether you want a NatWest Credit Card/Student Insurance or not. That is not for me to decide for you. If you have any specific questions, please start your own thread because it is easier to follow.


Eligibility




-A permanent UK Resident(resident in the UK for 3 years or more prior to the course commencing including Isle of Man, Channel Islands, and Gibraltar) on/about to start a full time course for at least two years at university or college of higher education in the UK.
-A permanent UK Resident on/about to start a full-time postgraduate course for at least 1 year at a university or college of higher education.


Eligible Courses


-Undergraduate degree, e.g. BA, BSC, LLB or Bed
-Postgraduate course e.g. MA, MSC, PGCE or PhD
- A Diploma or Higher Education, BTEC Higher National Diploma(HND, National Vocational Qualifiction(NVQ) levels 4 and 5 only, Diploma in Nursing Studies.


How to Apply


Either via natwest.com or in the branch.


Identification-Proof of Student status


Conditional/Unconditional offers can be accepted up to August 13th and Unconditional/Admissions letter from 14th August onwards.
Student ID card stating year of Study(NUS cards are acceptable).
Original Student Loans Company Letter confirming funding is available or Student Loans Funds paid into and account.
Local Education Authority award/SAAS.


Identification requirements when applying in branch


Proof of Identification, ie Passport or Driving licence(provisional is acceptable up to the age of 20)
Proof of address, Bank statement, parents utility bill(if surname the same).




Picking up plastic cards and cheque books




This is one of the most frustrating things in the world. My experience tells me that all Internet applications made will have the cards sent to the branch which their account has been domiciled. What that means is that the sort code on the account will be where the Card and cheque book will be sent. Normally the card will arrive before the cheque book. Once the card is activated, on receipt,
the pin number is sent within 5 working days(1 week), normally to the same place where the card was sent. If the account has been upgraded, then once confirmation of the place at university has been met, you should be able to upgrade the card from a cashcard/solo to a maestro/switch code.


Overdrafts


The basics to overdrafts is that you have to apply for them and they are not automatically added or automatically increased. They are interest free all the way through your studies. If you change your course after the first year then make the bank aware of this so they can increase the years you are classed as being a Student. That includes Graduate courses as well. The Graduate account is designed for those who have completely finished university and are working.
Year 1 limit is £1250
Year 2 limit is £1400(that means £150 increase from year 1 and not £1250 + £1400)
Year 3 limit is £1600
Year 4 limit is £1800
Year 5 limit is £2000


Graduate account interest free limits are as follows.
Year 1 after graduation £2000
Year 2 after graduation £1000
Year 3 after graduation £500


Remember that the limits on graduation are merely the interest free amounts. The bank does not drop you overdraft limit automatically and only the interest free amounts. July is when that kicks in each year.


Incentives-Railcard


Here are the incentives. Every student that qualifies for the Student account is eligible for the 5 year railcard that is renewable each year. Applications have to be received by December 14th otherwise you are ineligible for the rail card.
Here is the eligibility criteria for this year:
-Open a Student Account between 9th June 2008 and 31st October 2008
-Be starting their first year of full time undergraduate study
-use their NatWest Student Account as their main account
- register for and use online banking*
*I am adding a note to this. Please remember that if you receive an email that is supposedly from the bank asking to confirm you details, DO NOT RESPOND AND DELETE THE EMAIL*


Webcam


This is available ONLY when you apply for the account online.






Other incentives linked to the account




Interest Free overdraft(see above)
£100 off ASUS laptops
£50 off Mobile Broadband through 3(contract and pay as you go)
Student discounts including Cineworld, Domino's Pizza and Specsavers(linked to the rail card)


NatWest Student Credit Card


The basics of a credit card is that you get 56 days interest free to pay off. With the NatWest Credit card you get a limit of up to £500, payment of the minimum by Direct Debit and it is widely acceptable throughout the world. There is an optional card design and personalisation so you can put your own design on the card, the catch is that there is a £10 fee to do so.
Before going into the incentives, you need to be aware that on credit cards, taking out cash is the most expensive way to do things. It should be avoided at all costs. The Credit limit does not mean that you can take it out as cash, normally it is about 50% of the limit for cash.


Discounts with the NatWest Credit Card


25% off Lonely Planet Guides
15% off www.kitbag.com sports retailer
£5 off at www.firebox.com gadgets retailer
10% of short breaks with Superbreak
Free movie rentals with MyMovieStream for one month.


NatWest Student Insurance(available from branches from 16th August)


Not all student take Insurance on their belongings as it could be covered by their parents insurance.
NatWest have got a tailored insurance for students this year which will cover Computers/laptops, other portable devices, mobile phones bicycles, and other specified items. There is optional cover of legal expenses and cover within the home. Quotes can be given in the branch if you are shopping around.


Important Telephone numbers


Railcard Helpline: 0191 501 3806 (lost or non-receipt)


Welcome Pack Helpline: 0191 501 3838(non-receipt)


Webcam Hotline: 0191 501 3806(non receipt)



Apologies for commercial links in the guide that I have written but when you talk about incentives, unfortunately I cannot leave them out.