Number of Student accounts

northernandskint

Hello,

Just wondering how many Student accounts I will be able to open, or is it limited to one per person. It's not that I need the money, its just i would like to stick the overdraft money into a savings account, and put it towards a holiday/car insurance/anything else (drink?:beer: ). Thanks for your time

dwh_3

All of the accounts (all that I've looked at) stipulate that you aren't allowed to have another student account open (or that your loan/grant must be paid into that account). If you do happen to find some whose terms and conditions (read them carefully!) work, do share!

The bulk of the offers aren't quite out yet, but as it stands Halifax/Bank of Scotland currently offer the biggest overdraft (£2750), though they start you off at £500 and you have to ask for more (and they sometimes take some convincing).

northernandskint

Thanks mate, but with the accounts where you pay in your grant/loan, can't you just pay it in, then transfer it out to the next account to get the overdraft (just something I was thinking of when I was running yesterday!)

melancholly

you can, but some people have reported on here that their bank has found out they have multiple student accounts and demanded immediate repayment of the overdraft and the closure of hte account. it depends if that's a risk you want to take.

dhs87

I can't see why you would want more than one student account unless you specifically wanted to use them for their interest-free overdraft features, which, to be honest, isn't the best thing to do for anyone. If they find out, they make you pay all the overdraft back, and if usually with interest too.

Sol00

Yeah I'd say it isn't really worth it for that reason as it'll need to be repaid after graduation.

I've just upgraded my RBS account to a student account (couldn't wait any longer for the others), does anyone know how long it takes for them to decide if they'll upgrade?

surfsister

dwh wrote: »

All of the accounts (all that I've looked at) stipulate that you aren't allowed to have another student account open (or that your loan/grant must be paid into that account). If you do happen to find some whose terms and conditions (read them carefully!) work, do share!

The bulk of the offers aren't quite out yet, but as it stands Halifax/Bank of Scotland currently offer the biggest overdraft (£2750), though they start you off at £500 and you have to ask for more (and they sometimes take some convincing).

Hi Is there a place to research student accounts? I need my first and would like to check them out. Thanks

Lokolo

Yes, the whole internet?

Just look on the banks websites for what offers and compare them

Sol00

www.moneysupermarket.com is quite handy