Postgraduate Student Accts for those that have had UG ones?

linniestorm

I'm hoping someone will have 'the knowledge' on this!

I'm going back to uni to due my Masters later this month in London. I did my first degree years ago, so had a student account (with Natwest) which then converted to a graduate account etc.

So now I'm going back I'm wondering, do I just stick with my current current account, or should I be applying for another student account, and am I even eligible having been through the system before?

I'm looking to change my current account anyway as I'm not happy with it, but my concern is when there is going to be no employment income coming in (just savings and CDL) will I be knocked back? The facilities of the student account don't really matter (ok so a free railcard would be handy!) as I'm not looking to get another overdraft (been there, done that, never again!!)

So has anyone been there before and have any advice? Thanks in advance!

Soon2BeATeacher

The only account I've found for anyone doing a postgrad and having graduated more than 3 years ago is the Abbey Student/Postgraduate account. If you've graduated more recently you should be able to get the other student bank accounts from other banks.

You have to take in proof that you're studying a full time course for at least a year but you don't have to prove that it's your only current account, nor do you have to put a specified amount of money in regularly.

You can get up to £1,000 interest free overdraft limit, but this isn't guaranteed - it depends on your credit history. I was recently assessed and I only got £250 and I suspect it's not because I'm blacklisted in any way, it's that I don't have enough history of debt! I've got a credit card which I pay off each time I use it (I use it less than once a month), I haven't been in my overdraft limit for two years, and I don't have mortgage/loans other than my original Student Loan which I've only ever paid £10 back from!

The only perk to the Abbey account is that you do get £50 added to your account once you deposit your first £500. I think you might also have to use it for a month too. And obviously the perk of having some sort of overdraft.

As for the service, I'm still waiting to receive my card, having only opened it in the last couple of weeks so I don't know yet. Again, you can either have a Visa Debit or an Electron, depending on your credit history. I got a Visa Debit. If they assess you for an Electron I would be tempted to forget about the account unless it's not going to be your main as so many places don't accept Electron.

You can only sign up for the Abbey account in branch. I've tried calling their other helplines and they don't have a clue. Don't be surprised if the person who deals with you in branch has to look it all up and doesn't seem to sure. I was told that they set up so few Student Accounts day to day that they're not always familiar with them! I also had to make an appointment to see an advisor, about 3 days in advance, but your local branch might be different.

Hope this helps in some way.

VickyA_2

I did a PGCE 3 years after completing my first degree. I spoke to my (very helpful) local branch of the HSBC and with the confirmation letter from the university and GTTR (the teaching equivalent at the time of UCAS) they were able to convert my account into a student one for one year.