NatWest Student Account 2008-09: A Guide

natweststaffmember

katie668 wrote: »

I was wondering if it is possible to open a NATWEST student account, but not have my loans paid into the account, but use it for direct debits more so? Or is part of the criteria to have so much money paid into it?

Apologies, Katie, I missed your post as it was on the bottom of page. It is possible but the Terms and conditions state that it should be used as your main account. Post 1 explains this year's conditons. The problem doing what you want to do is that the overdraft may not be renewed if you did it this way as it would not be used during the summer months.

silvercar

My son has been into the local branch and they made an appointment for him to go back and open his student account. He already has a natwest account but they said they would open a new account so that he got all the student benefits. he'll have to remember which is which and to make sure the money is in the right place.

Lokolo

silvercar wrote: »

My son has been into the local branch and they made an appointment for him to go back and open his student account. He already has a natwest account but they said they would open a new account so that he got all the student benefits. he'll have to remember which is which and to make sure the money is in the right place.

He could always close the other one.

John_0771

natweststaffmember wrote: »

Apologies, Katie, I missed your post as it was on the bottom of page. It is possible but the Terms and conditions state that it should be used as your main account. Post 1 explains this year's conditons. The problem doing what you want to do is that the overdraft may not be renewed if you did it this way as it would not be used during the summer months.

What do you mean "should be used as your main account." are there any conditions which decide that its your main account - how would they know.

XKX

XKX wrote: »

Ok... So I went into the branch Monday morning... The women behind the counter thing was sorting it out, she then approached me and said "because you have had the account since before you were 18, your overdraft application has to go to learning head office (or summin like that) to be looked at." Me "Um, ok. How long roughly will I have to wait?" her "maybe a week or two, they'll send you a letter".

What is going on? I'm being peanalised beacuse I've had an account with them for ages?? That's how it seems. Any ideas?


Cheers

I don't suppose anyone could shed some light as to what's going on? I'm clueless, as are my branch...

Thanks

XKX

One other thing. How do you know when you have the overdraft? Does something appear on your online banking summary sheet or something?

Kind regards

Helix

XKX wrote: »

One other thing. How do you know when you have the overdraft? Does something appear on your online banking summary sheet or something?

Kind regards

The available balance will show the overdraft, so if you get the full £1250 the available balance will be £1250 plus whatever money you have in your account.

silvercar

My son opened the account today, so now he has 2 accounts with NatWest the original account and the student account. Then he tells me he actually has 3 accounts as the advisor told him he should have a reserve account as well to get interest. He said the advisor transferred £100 into it; from where he doesn't know!

Thinking about it, there would be nothing stopping him transferring the whole of the overdraft allowed into the reserve account and drip feeding it back as and when he needs it.

natweststaffmember

John_0771 wrote: »

What do you mean "should be used as your main account." are there any conditions which decide that its your main account - how would they know.

My apologies for the wording. The correct wording states, "Use their NatWest Student account as their main account".
It is very easy to work that out. No student loans going IN, No money going IN to the account. Only withdrawals and no sizeable credits.

laurag8652

I'm attending my first year of university and phoned the helpline to set up my student overdraft. I was informed that this would be available to me within 48 hours, over one week later and still no sign.
I'm very frustrated as I was first informed I could not even set up an overdraft over the phone, after being put on hold and speaking to 3 employees in total, I had no choice but to end the call as the 3rd employee was convinced I had t ogo to my branch to do this.
I rang back and spoke someone else who set up the overdraft facility for me within 10 mins. Unfortunately no sign of anything actually being done. I need the money for my first months rent this saturday, and am worried that I will not recieve the overdraft in time, which is why I rang up ove a week ago so everything would be in order.
Why have I still not recieved my overdraft?

Thanks,
Laura