Why has she been refused student account?

Stevenj214

I was rejected for a student account by Lloyds TSB even after banking with them since I was 15.

RBoS accepted me with no problems and are now my main account, and will probably be the first place I look for other financial services when needed.

The only reason I now keep my TSB account open is because family down south sometimes deposit money in it for me, and there isn't a RBoS down there.

Jess

Thanks to all for the Halifax stories - in certainly makes me feel that my daughter is not alone in her treatment by the bank. Certainly the way we have been treated by them, the way they failed to do what they promised with regards phone calls etc means we will steer clear of them in future. Interestingly we went to them because of their student overdraft rates but were told anyway that they are not automatic and she would only be offered £200, if she was 'lucky' enough to get an account.

Thanks again to all

casson2006

My boyfriend was refused by the natwest when he tried to open a student account. He had never had any money problems in the past etc, they said if he wanted to find out why he was, then he would have to pay to have them write to him! so he didnt bother. But i thought maybe it was to do with his mum and dad being in debt etc, and they would have known that from the address he has put down? can they do that?

garethl_2

casson2006 wrote:

My boyfriend was refused by the natwest when he tried to open a student account. He had never had any money problems in the past etc, they said if he wanted to find out why he was, then he would have to pay to have them write to him! so he didnt bother. But i thought maybe it was to do with his mum and dad being in debt etc, and they would have known that from the address he has put down? can they do that?

No! Unless your boyfriend had a loan or joint account of some sort with his parents. The age old myth of an address having a black mark is rubbish. The only time you are linked to other peoples debts is if you are in some way financially linked to them i.e. joint loan or account.

garethl_2

Jess wrote:

My daughter has been turned down for a student account by the Halifax because of credit scoring and I wondered if anyone could help explain why this might be and if she should be worried?

She is currently on a gap year with a guaranteed place in September for a four year degree course. She has no debts, has had a bank account (not with Halifax) for three years and is working to save as much money as possible before September.

All they will say is that she doesn't score enough and that means they are worried she will not be able to pay any debts. Surely if those are their criteria then they would never give a student an account.

I am worried that the fact she has been refused an account will haunt her in future financial dealings.

Any one got any advice and should I be worried?

This is all worrying me a bit! I was going to apply to HBOS for a student account when I start my PGCE this year. I have not got a great Credit Score. Maybe I shouldn't bother! Did you apply in person or online? I find online applications are too easily turned down for most things. In person you can at least talk over the circumstances and perhaps change the outcome to a degree.

Voyager2002

garethl wrote:

This is all worrying me a bit! I was going to apply to HBOS for a student account when I start my PGCE this year. I have not got a great Credit Score. Maybe I shouldn't bother! Did you apply in person or online? I find online applications are too easily turned down for most things. In person you can at least talk over the circumstances and perhaps change the outcome to a degree.

My wife recently applied in a Halifax branch for this account. All that applying in a branch meant was that one of their staff entered her details into a computer. The computer system then rejected her just the same as if she had applied on-line, and the branch staff had no involvement in the decision.

casson2006

garethl wrote:

No! Unless your boyfriend had a loan or joint account of some sort with his parents. The age old myth of an address having a black mark is rubbish. The only time you are linked to other peoples debts is if you are in some way financially linked to them i.e. joint loan or account.

He didnt have anything other than his own account, which was just like a debit card, no overdraft etc. Thats the only thing we could think of.

Jess

garethl wrote:

This is all worrying me a bit! I was going to apply to HBOS for a student account when I start my PGCE this year. I have not got a great Credit Score. Maybe I shouldn't bother! Did you apply in person or online? I find online applications are too easily turned down for most things. In person you can at least talk over the circumstances and perhaps change the outcome to a degree.

She first applied on line but there was a problem with the web site so phoned up and applied and was refused. She then had an appointment in the local branch where they said they would personally follow it up etc etc. Following day received a rejection and then learnt that the local branch has no say whatsoever. I foolishly thought that if a smart and eloquent person went into a branch and met someone face to face it would help - it doesn't!

garethl_2

Don't think I'll bother with HBOS then! I'll have look at other accounts available, but may stick with my Cooperative account.