Bank Account

ladybolan

Apologies if there are threads already about this, did a quick look back and didn't see exactly what I wanted, anyway.

Can anyone point me towards some info about choosing a bank account in N.I.? I have been with Ulster Bank since I was 12, am now 23 and after graduating last year I have FINALLY got rid of my overdraft, and feel like I'm ready to find a good account or potentially switch banks. I am still on my student account as UB decided to lose the photocopy they took of my degree, and TBH I couldn't be bothered chasing it up, as I don't think a graduate account is much to bother about.

So, I'm working full-time at the moment, but I plan to go back to university in Sept 2010. So I'll eventually be switching back to a student account. Is it worth sticking with UB? Now that I've got my finances in order the ball's in my court, so now is the time to make changes if need be.

Thanks

Pretani

To be honest, you'd be better posting that in the saving and investment section. There may be good interest rates available in banks other than our local ones.

ladybolan

Thanks, I thought that just as soon as I posted.

Money_Grabber13579

ladybolan wrote: »

Apologies if there are threads already about this, did a quick look back and didn't see exactly what I wanted, anyway.

Can anyone point me towards some info about choosing a bank account in N.I.? I have been with Ulster Bank since I was 12, am now 23 and after graduating last year I have FINALLY got rid of my overdraft, and feel like I'm ready to find a good account or potentially switch banks. I am still on my student account as UB decided to lose the photocopy they took of my degree, and TBH I couldn't be bothered chasing it up, as I don't think a graduate account is much to bother about.

So, I'm working full-time at the moment, but I plan to go back to university in Sept 2010. So I'll eventually be switching back to a student account. Is it worth sticking with UB? Now that I've got my finances in order the ball's in my court, so now is the time to make changes if need be.

Thanks

Personally, I feel that all our local banks are a pile of poo, and you'd be much better heading off to a national one like HBOS, Nationwide etc. (I know UB are part of RBS, but that doesn't make them any better! I had a 2 year nightmare with them, but I'll not get started on that! lol)

If you want an overdraft again, interest free, Halifax give up to £3000. (Which I took and invested the bit I didn't need!)

With regards saving, Halifax and Nationwide often seem to offer the best rates.

Pretani

Money_Grabber13579 wrote: »

If you want an overdraft again, interest free, Halifax give up to £3000. (Which I took and invested the bit I didn't need!)

Was this an overdraft because you had just graduated or had you to show you owned property, had a steady wage or something?

I was thinking about a Sharia interest free loan and banking it in a high interest ISA account, not sure how feasible it is though.

belfastgirl23

Money_Grabber13579 wrote: »

Personally, I feel that all our local banks are a pile of poo, and you'd be much better heading off to a national one like HBOS, Nationwide etc.

yes and yes. Don't go local. I am also with Nationwide and love them - their online banking system is great. I was a stoozer for a bit and had accounts in a few different places and theirs wins hands down.

I'd suggest you look on the student board to see if there are any deals available for students opening new accounts too or for hints as to which bank is good for student accounts.

ladybolan

Pretani wrote: »

Was this an overdraft because you had just graduated or had you to show you owned property, had a steady wage or something?

Is that directed at me? My overdraft was a result of bad money management...£1800 of it. But it's cleared now. So the world is my oyster...

Money_Grabber13579

Pretani wrote: »

Was this an overdraft because you had just graduated or had you to show you owned property, had a steady wage or something?

I was thinking about a Sharia interest free loan and banking it in a high interest ISA account, not sure how feasible it is though.

Sorry, I should've have said that this was just the standard student interest free overdraft. All I had to show was that there was some form of regular payment into the account. Easy enough to set up a standing order to transfer a bit of money around though!

Pretani

Money_Grabber13579 wrote: »

Sorry, I should've have said that this was just the standard student interest free overdraft. All I had to show was that there was some form of regular payment into the account. Easy enough to set up a standing order to transfer a bit of money around though!

There was a guy on my course who done the same.

I pay £300/year interest on my Student loan, the rate of interest went up when it changed hands a few years back.

Wookey

Checkout both Abbey and A+L for there 6% interest current accounts, they both have a max amount though if which you go over will reduce the interest on the excess. If you intend to visit euroland then open up a Nationwide flexaccount for its euro friendly use abroad which gives the banking exchange rates not tourist rates.

wenyi

What about Co-operative Bank (or Smile?). Nice branch on Donegall Square in Belfast. I'm a happy Co-op customer.

If you go South often it's worth knowing what the different banks charge for ATM usage and debit card spending in euros. It may be that Nationwide FlexAccount is worth having for that alone.

Wenyi