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Student Accounts 2012/13
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Old 14-08-2012, 6:36 PM   #1
MSE Sally
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This thread is specifically to discuss the




Click reply to discuss


Specific Threads to discuss individual bank's overdraft limits.

Please let us know what limits you got if you applied for any of the following top pick accounts:
Co-op
Santander
Natwest/RBS
Halifax

Last edited by MSE Sally; 14-08-2012 at 6:46 PM.
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# 2
mrs t teacher
Old 15-08-2012, 11:15 PM
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I'm not sure whether to go for the santander or co-op account- any suggestions ?
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# 3
enjoi
Old 17-08-2012, 12:06 PM
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Originally Posted by mrs t teacher View Post
I'm not sure whether to go for the santander or co-op account- any suggestions ?
I've chosen to go with the co-op one, even though Santander give you 50 cash their customer service is rated poorly and the overdraft is bigger from the co-op.

Expanding on the customer service part i think sorting stuff out as student is stressful enough, so reading reviews on how good the co-op bank is at dealing with problems is comforting it just means that i have less worry incase anything does go wrong!
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# 4
Alwaysachoice
Old 21-08-2012, 4:59 PM
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Default Santander don't look after existing customers

I have just had a very disappointing visit to my son's Santander branch trying to open a student account.

Because he is an existing customer, having had a 16 - 18 years account for two years, they said he is not eligible for the 50!!!

Even if he had closed his account today, he would not be eligible for the 50 until 3 months had elapsed.

There is a possibility of closing the account tomorrow, then waiting until after 22nd November and getting the 50 then (the last date to open an account is 30th November) but quite honestly with everything else that will be going on it's the last option.

So much for looking after loyal customers! I'm appalled. What a contrast to Natwest who are giving EXISTING customers only 100 towards a railcard.
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# 5
ridetherhythm
Old 28-08-2012, 4:24 PM
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Co-opertative Student Banck Account setup experience.
Applied for a student account online with lo-op.
Got accepted and received UnWelcome Pack in the post..

UnWelcome pack informs me to telephone customer service to register for telephone banking.
But i don't want telephone banking..just want internet banking. But no, have to register for telephone banking first before even thinking about registering for online banking. Have to call a 0845 number, which is outside of my landline/mobile inclusive call allowance package.

Expect to waste half a lifetime being ping-ponged between Lo-op Pillar and Post departments in trying to setup student bank account. (see Laurel & Hardy - Furniture Payment at youtube)

If you manage to get through to someone at lo-op customer service, who can cope with setting-up your new student bank account; without first thinking is it in their job description/capability to assist you..expect your student account application form to be cloaked in total secrecy until you repeat the memorable word you gave on your application form.

Should you fail to give the correct memorable word to lo-op after three desperate attempts at it; whether through forgetfulness, oversight, it being a new experience for you, not having it tattooed/carved onto your body to remind yourself of it, or not having realised the insignificance of it on your online application form but utmost SIGNIFICANCE thereafter & forevermore,....don't expect any sympathy from them.

Instead expect the Spainish Inquistion over the phone followed by a journey across counties to reach one of their branches with passport/proof of address/signed avadavit in tow to prove your identity in person. They can't verify you over the phone from any of the information you gave them on your online student account application form (as it won't be on their system despite having been completed on their website): details such as your date of birth, uni, uni course, years at home address, email address, any existing bank, or income details. None of this information would appear in their unWelcome Pack sent to you, even if it had been misdelivered into the wrong hands But they cannot ask for any of this personal information to prove your identity to them, as an alternative to to forgetting your memorable word. Remembering you memorable word during the call to them (forth attempt at it) is no good either. You may as well just end life with lo-op here and now.

All this hassle to setup you student bank account and there isn't even half a penny in the account, and nor will there be now.

My advice is to avoid opening an account with these clowns, as they wasted too much of my time and effort being unhelpful towards getting my account up and running. They clearly didn't want this student's business now or in the future.

I now have spend more time and effort cancelling/closing the stillborn lo-op account, before opening a student bank account with another bank that wants my business and makes an attempt at decent customer service.

Yes, online bank security is good and i want it, but i never reached the goal to set-up internet banking with these ming-mongs. They just put impenetrable barriers in the way, to prevent account setup from happening. A simple setup process, which other banks manage to achieve WITHOUT human intervention, became is a day's mission at lo-op.

I also wasted three phone calls to them, totally one hour. Calling their 0845 number cost me 6.74 for an 60 minutes of frustration. The overdraft is not automatic in year 2 or 3...still have to request it over the phone/in person. Have to pay in 300 before they will consider sending you a debit card, give you the 1st years overdraft.

Last edited by ridetherhythm; 28-08-2012 at 4:26 PM. Reason: spelling
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# 6
oddlyuk
Old 14-09-2012, 10:27 AM
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Angry Frustrated with Lloyds TSB

My daughter has applied for a Co-operative Student Account and has been successful. In the meantime her current account with Lloyds has been changed to a student account.
She received a letter a couple of months ago informing her that this would happen and there was an opt out slip to be returned by a date early in August. She hadn't seen this letter (buried under hundreds of other uni related mail). We have phoned to ask that this remain as a current account (for wages, birthday money etc.) and were advised to go into the branch (really??). At the branch we were informed it was still a current account but a note would be added to stop it being changed. Lo and behold it has been automatically changed. She cannot have (& does not want) two student accounts.She has phoned & emailed Lloyds and visited another branch close to where she works and has been fobbed off each time. I cannot believe that this is so difficult. Why would she have to keep going to the branch for something that should be easily sorted out over the phone? This is not a very encouraging start for her foray into the financial world and she's now already weary of contacting any bank. My knee jerk reaction is to go with her to close the account as we, frankly, can't be bothered with the hassle.
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# 7
Lokolo
Old 14-09-2012, 10:31 AM
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Originally Posted by oddlyuk View Post
My daughter has applied for a Co-operative Student Account and has been successful. In the meantime her current account with Lloyds has been changed to a student account.
She received a letter a couple of months ago informing her that this would happen and there was an opt out slip to be returned by a date early in August. She hadn't seen this letter (buried under hundreds of other uni related mail). We have phoned to ask that this remain as a current account (for wages, birthday money etc.) and were advised to go into the branch (really??). At the branch we were informed it was still a current account but a note would be added to stop it being changed. Lo and behold it has been automatically changed. She cannot have (& does not want) two student accounts.She has phoned & emailed Lloyds and visited another branch close to where she works and has been fobbed off each time. I cannot believe that this is so difficult. Why would she have to keep going to the branch for something that should be easily sorted out over the phone? This is not a very encouraging start for her foray into the financial world and she's now already weary of contacting any bank. My knee jerk reaction is to go with her to close the account as we, frankly, can't be bothered with the hassle.
So don't bother? You're getting worked up by very little.

My HSBC one automatically went into a student account, and as did my Lloyds. So I had 2. Yes they do say in the T&Cs this must be your one and only but the only time they will close the account is if you abuse it. If your daughter is planning on using it as it is currently, she won't have any problems.

She won't get arrested for it!

And you say your daughter doesn't want it, why does it matter? If she isn't going to get the overdraft, just leave it as it is as a student account. She doesn't get forced to use the overdraft or "student extras" she can just ignore them, just as I did.
You only live once so make the most of it!
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# 8
oddlyuk
Old 14-09-2012, 10:43 AM
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Thanks I'm more concerned than worked up. She needs the Co-operative overdraft and didn't want to give them a reason to withdraw/limit it. As a new student it is not easy to know which things need action and which things to chill out about. That's why we come to these forums......
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# 9
DK2010
Old 23-12-2012, 7:57 PM
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I currently have a coop student account and in second year have the 1700 OD which i applied for in the summer and was accepted for.

My question is though.

I recently went over my agreed overdraft by 20. Will this have a negative effect on my credit rating?
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# 10
atypical
Old 24-12-2012, 11:38 AM
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I recently went over my agreed overdraft by 20. Will this have a negative effect on my credit rating?
Compared to if you hadn't, yes. Might be considered minor enough though to not have any material impact.
"An economist is a surgeon with an excellent scalpel and a rough-edged lancet, who operates beautifully on the dead and tortures the living." - Nicholas Chamfort
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# 11
DK2010
Old 24-12-2012, 11:45 AM
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Compared to if you hadn't, yes. Might be considered minor enough though to not have any material impact.
Thanks! thats what I was hoping!
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# 12
Hasty1991
Old 23-07-2013, 1:09 PM
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Can't decide which student account to go for. Am a mature student with a good credit history and I can't decide whether to go for an account advertised with an "up to" overdraft limit (the thinking being that I may get more as I'm not 18 with no credit history) or just stick with one with "x amount in year 1,2,3" (the concern being the "up to" is just a gimmick and they don't care about credit history with student accounts).

Hmmm.
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# 13
Bridol
Old 07-08-2013, 10:14 PM
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@Hasty1991

I am in the same boat. Have you decided what to do yet?

@everyone

Is this thread staying open or will there be a new one for Student Accounts 2013/14?
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# 14
Hasty1991
Old 09-08-2013, 6:35 PM
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@Hasty1991

I am in the same boat. Have you decided what to do yet?
Not yet to be honest. I am thinking of just going for the Santander one. I bank with them already, the railcard would save me a lot and the overdraft is as good as any other without the subjective 'up to' limits. Have accounts with Natwest/HSBC but I presume they would credit score anyway?
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# 15
Xen6
Old 14-08-2013, 12:16 PM
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I already have a Santander student account, but they just withdrew the freebie I signed up with which was free gadget insurance. Is there a way to get the new freebie?
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# 16
timz
Old 15-09-2013, 3:59 PM
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Angry Santander Student Account

I would avoid Santander at all costs. Both my daughters took out student accounts when they offered free gadget insurance. Now they are withdrawing the benefit they have converted both their accounts to Graduate accounts without warning and, seemingly, just to remove the insurance benefit. Rectifying it means huge amounts of hassle - you have to go to the branch in person, they require letters from the universities and I have no confidence in them.
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# 17
Xen6
Old 15-09-2013, 5:00 PM
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I would avoid Santander at all costs. Both my daughters took out student accounts when they offered free gadget insurance. Now they are withdrawing the benefit they have converted both their accounts to Graduate accounts without warning and, seemingly, just to remove the insurance benefit. Rectifying it means huge amounts of hassle - you have to go to the branch in person, they require letters from the universities and I have no confidence in them.
Weird... I have received an email letting me know I'll be transferred onto the new Santander 4 year railcard promotion.
Santander have been great for me. Plus that shouldn't put new customers off the new account. Great reward in my opinion.
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Kylina
Old 30-09-2013, 4:10 PM
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Weird... I have received an email letting me know I'll be transferred onto the new Santander 4 year railcard promotion.
Santander have been great for me. Plus that shouldn't put new customers off the new account. Great reward in my opinion.
Lucky! I signed up to santander before and asked in branch if I could be transferred to Santander's 4 year railcard promotion but they said no

I want to apply to natwest for a 2nd student bank account though. But when I do, they keep saying that general banking rules stop them from setting me up a student bank account unless I close off my Santander one.

Their T&Cs don't seem to stop it though...Any advice from here?
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# 19
Xen6
Old 30-09-2013, 4:29 PM
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Lucky! I signed up to santander before and asked in branch if I could be transferred to Santander's 4 year railcard promotion but they said no

I want to apply to natwest for a 2nd student bank account though. But when I do, they keep saying that general banking rules stop them from setting me up a student bank account unless I close off my Santander one.

Their T&Cs don't seem to stop it though...Any advice from here?
Have you been into a branch to set up Natwest account? I have both Santander and Natwest student accounts. I just told Natwest that I would be using there one as my main account when I set it up. They knew and accepted I had another student account, and like you said, their terms and conditions allow you to have a student account with another bank.
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# 20
Kylina
Old 30-09-2013, 4:39 PM
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Have you been into a branch to set up Natwest account? I have both Santander and Natwest student accounts. I just told Natwest that I would be using there one as my main account when I set it up. They knew and accepted I had another student account, and like you said, their terms and conditions allow you to have a student account with another bank.
I did. Just came back from them actually. He said he spoke to the manager and said that he can set up an account only if I produce a letter saying that I would be closing down my santander one. I asked if he could point it out in the T&Cs and he just said general banking rule.
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