Student bank accounts

xFlake

Looking for a little feedback on student accounts, it's ok reading the review's on websites etc but it's probably better coming from people who live with the accounts right?

After a quick look around the best one I seem to have found is Natwest!

Basically what I'm asking is what bank do you use? Are you happy with the way everything is, if so why and vice versa, would you recommends it to a friend.

** Also another question, do you have a student and current account or just the one?

wrexhamandy

Hi SMH,

I've just graduated the other week so hopefully can advise you! I had two student accounts (naughty), one with Natwest and one with HSBC, and have had a few cred cards etc with others.

I'd definitely positively completely conclusively say NatWest as the best. They're the only bank I know where you can actually ring up YOUR branch if there's a problem or if there's any questions. You don't realise how handy this is until you've spent an hour waiting listening to HSBC's 'taste' in music only to get through to someone in India who hasn't even heard of the place where your University is, never mind answer your questions on your student account. They also have quite a big interest free overdraft and every one of the staff I have met have always been really nice and down to earth and fixed my problems quickly. They also let me go a bit over my overdraft a few times without charging me any fees. As for the bonus gift don't think I got anything decent but I'd swap some gizmo for 3 years of really good customer service any time.

As for my HSBC one, they were truly awful don't go near them. Any problems they don't want to know and all you can do is try explaining to someone in a call centre the other side of the world. You can't ring your branch, there's often no counter at your branch (they're phasing them out and replacing them by machines) and the opening hours are a joke. Also, with me, because I didn't use my account for 6 months (had a problem with my student loan coming in late and didn't have my HSBC account number to hand) they decided to just close my account without telling me and demanded immediate payment of £1,500 overdraft and £400+ for student credit card (high interest rate) a couple of weeks before Christmas! I managed to get my account open again after a big song and dance, but not the credit card which they passed on to their useless debt collection agency (who have only just sent me out a payment card after 7 months of me asking because I threatened to report them to the Ombudsman) for which I now pay each month despite never missing a payment on my card before. The people in the bank have always been unhelpful and rude and only interested in the big buisness customers, not little students. Also, when you graduate they have quite harsh deadlines for repaying your overdraft, Natwest's is a bit more lenient.

From my experience with Barclays they always seem to have the best prmotions and that but always the highest interest and most inflexible accounts. People are helpful though from what I've seen.

All in all I'd say go with the best customer service (if you've had a relationship with a bank already, or listen to others) and longest interest-free overdraft and not the incentives (unless it's free toffee cheesecake, I love toffee cheesecake). And get a Young Persons Railcard if you are gonna trval back and two between home fairly regularly, saved hundreds.

Hope some of that helps!

Andy

wrexhamandy

*** In fact I'm writing an article for a student website that I edit on the best and worst student accounts for this year, complete with honest opinions and experiences from people that have had them before. If you're interested in being one of the opinions that would be great - just say in your reply or something. I'll give you credit and give you the link when it's up. ***

BullyCornedBeef

Hi Andy, im a graduate moving from HSBC to Natwest. I like the overdraft facility they offer and the fact you can call your branch!

BullyCornedBeef

wrexhamandy wrote:

*** In fact I'm writing an article for a student website that I edit on the best and worst student accounts for this year, complete with honest opinions and experiences from people that have had them before. If you're interested in being one of the opinions that would be great - just say in your reply or something. I'll give you credit and give you the link when it's up. ***

I would love to help, just PM me.

ant12345678

Hi ,

i have a question that i hope you can answear for me please , i have had problems with my experian credit file for the past 6 months where i had a abbey account there was a problem with the account summed up had no overdraft they let me go into an overdraft built up debt and i am fighting this through abbey now and hopefully after speaking to debt hotline maybe small claims court, question i want to open a student account that use equifax as this i have checked is fine anybody have any ideas of banks that use equifax

thanks

anthony

wrexhamandy

Think this is what you're after:

http://www.moneysavingexpert.com/cgi-bin/viewnews.cgi?newsid1129725802,83707,

From a student account perspective, looks like it's either Natwest or Lloyds TSB, though they use Experian as well by the looks of that. Some are Equifax-only but don't think those lenders have specialised Student Accounts.

Not sure what this would mean for you, hopefully someone a bit more knowledgable on how credit ratings are done will pop up......

All the best with the Abbey fight.

Andy

studentphil

Halifax has never treated me very well!

melancholly

it's also worth checking where the various branches are in the city/town where you're at university - where i am you have to go into town to find A&L (not great for students, admitedly), and i can't think of the nearest abbey. i know a lot of banking is online now, but if you have to pay cheques in or you want to speak to a person not an automated phone queuing system, a reasonable local branch can be helpful. it's probably not the key concern, but worth looking at if you're not sure between a couple of options.

wrexhamandy

melancholly wrote:

it's also worth checking where the various branches are in the city/town where you're at university - where i am you have to go into town to find A&L (not great for students, admitedly), and i can't think of the nearest abbey. i know a lot of banking is online now, but if you have to pay cheques in or you want to speak to a person not an automated phone queuing system, a reasonable local branch can be helpful. it's probably not the key concern, but worth looking at if you're not sure between a couple of options.

Now you mention that, when I was getting my student account I was halfway through the joining process for Royal Bank of Scotland until I just happened to ask where the branch is in Aberystwyth (where I went to uni). The reply: oh there isn't a branch in Aberystwyth.


Nggghhhhhhhhhhh!

Savvy_Sue

melancholly wrote:

it's also worth checking where the various branches are in the city/town where you're at university - where i am you have to go into town to find A&L (not great for students,admitedly), and i can't think of the nearest abbey. i know a lot of banking is online now, but if you have to pay cheques in or you want to speak to a person not an automated phone queuing system, a reasonable local branch can be helpful. it's probably not the key concern, but worth looking at if you're not sure between a couple of options.

Even living 5 minutes from the on campus branch of NatWest, my son failed to pay a cheque he'd been sent into his student account - 'lost' it, found it while packing, waited until he was home and had to make a special trip to the bank with it! :rotfl: :mad: