Santander bank student account 2012/2013: We want your feedback

i'm torn between the santander and co-op, help !!!

I've been with Santander for over 5 years now with a host of savings accounts, current accounts and now a student account. Yes I agree with the previous comment about existing customers not getting the £50 which is not clearly explained, but after checking is online in the 'small print'. However, they offer existing customers a better deal - they provide insurance for a laptop, mobile phone and 2 gadgets for the whole time you have a student account ( 4 years for me).

I had already researched insurance (by chance) before I went in, and it would cost me around £120/year for that insurance, and that was only whist the items were in my room and not across the whole of the UK! It pays to go in and talk to someone, and look round other banks too and take other banks leaflets in when you go to talk to someone - then they know they are competing for your business. The second best option for me was probably HSBC as they offered me a 1750 overdraft in the 1st year, followed by the Co-Op with £1400 increasing to £2000

The santander overdraft is £1500 (or thats what I have got) for year 1-3, increasing to £2000 in year 4. With saving £120 a year this was by far the best option for me, but make sure you get the best deal for what you need - if a big overdraft is better, pop into HSBC, ask them to start to open the account to run the credit check and give an overdraft figure and compare with the Co-Op.

I have never had a problem with Santander through the whole time I have been with them, my worst banking experience was with Halifax.

Hope this helps

Michael

Collectively we have 5 accounts with Santander - our expectations and needs are very basic. My daughter went in to Santander in Glasgow City Centre this afternoon in order to transfer her current account to a student account and had a disappointing experience - despite being with them for over 2 years she was advised that she was not entitled to the £50 (New Customers Only!!) and that the company had stopped the free insurance incentive ages ago - additionally that "it never covered IPhones because they were the most likely to be dropped into a drink!?"

Overall she felt spoken down to, unsupported, unappreciated and frustrated by the confusion surrounding their account incentives.

However, she got to keep her existing account details (upgraded to student) & had £1500 overdraft facility available immediately. I appreciate this would be a satifactory outcome for some - depends
what your priority is I guess?