Top Student Bank Accounts 2006/7 article Discussion Area

Tallulah22

Amy suggestions for a student bank account, not really interested in the overdraft. Im currently with Halifax in a normal current account.

Im after one with good potential?

bmbayless

I wouldn't advise opening a natwest account online as it took me 2 months just to open it. It then took another 3 weeks to get the free webcam they are offering. I also sent off the application for the free railcard that they wer offering 4 weeks ago and heard nothing back, even though i was told i would receive a reply within a week. If you are going to open one even if you go into the branch, expect it to take ages.

lrosie1

Hi
I just applied to HBOS to their student account and it rejected me even when i apealed. It said i had a bad credit rating but i got my credit file and theres nothing wrong with it. any advice would be useful!! should i try apply to a different bank??

MSE_Martin

lrosie - i am fascinated to read this - I never understand why some students are turned down and others aren't. As an experiment I would like to follow this threough with HBOS - and see if we can get you your account.

Please PM me if you're interested

Martin

mhoc

shylock wrote:

My daughter is off to Uni soon and having looked around at various accounts decided on the Halifax one, due to the safety net the overdraft could offer, if needed, and the fact that it seems to not have to be paid off for up to a year after finishing uni, unlike some of the other overdrafts.

Is this so with the Natwest student account. I tried to get them to give me a firm date for when the overdraft is cleared and charging starts but they were vague about it. Anyone any experiences of this?

Also if my daughter maxs out her Natwest overdraft (probally by Christmas) could she swap her student account to the Halifax for the bigger overdraft. or is that a bit cheeky - has anyone done this?

Mary

Love-a-bargain_5

I am a mature student just about to start a three year degree. I'm thinking that a student account might be useful (low charges, etc) but most of the information is aimed at young students who will be strapped for cash and need large interest free overdrafts. I won't be in that position (thankfully) as I am married, and my husband will be supporting me.

So... large overdraft facilities aren't a priority. What other perks are there?

I have had a quick scan on the internet and it seems that Nat West are offering a student railcard, however I believe it's for under 26's. I'm a bit past that age now though, so can't make use of that!

HSBC are offering 10 free cds or an mp4 player. Lloyds are offering an ipod shuffle (which I could sell on ebay perhaps...?) and something about free vue cinema tickets?

Don't know what to do, really. Does anyone know of other banks that are offering good incentives? Won't use the overdraft facility (it's far too tempting to spend money I haven't got so I would rather not have one!) so I would like to choose the best freebie really.

Can anyone offer advice?

Thanks!

antjessopuk

I'm currently entering my third year of a three year primary teaching course. I have applied for a student account with the Halifax even though I already have a student account with HSBC. I plan to switch if I am accepted in order to get the £2750 overdraft. I figure I need the money more now than I will when I'm working as I will be starting my teaching practice in a week and will have no time for a job!

What makes things interesting (or not, as some of you might be thinking by now!) is that i'm 25, so should have a better chance of getting an account than an 18 year old. However, I have had some poor spending and repaying habits in so this could affect my success, although I have not had too much problem getting phone contracts, etc, in the past. I'll post back with the results, as it seems that hardly anyone has had any success with this account.

Has anyone else managed to switch student accounts? I'm sure there will be others wanting to take advantage of the HBOS deals.

Sorry for waffling,

Ant

disguise

alolegedtuna wrote:

Hi,

Just thought I'd write on my experiences on trying to open a HBOS student account. I have just graduated from my undergraduate course and am taking a post graduate course (PhD) this October. I previously had a natwest student account which although good, didn't offer me the same level of interest-free overdraft that HBOS did. It might just be my local branch, but I found setting up my student account a pain to say the least and the advisors didn't seem to know about the overdraft levels being offered. I must point out at this point that the account can only be activated if £100 is paid in and left in the account for 24 hrs. Having finally opened the account I was informed that I would only have a £500 overdraft and because I was not already an existing customer, getting the full £2750 was "highly unlikely". I should have a good credit history as I have paid all my bills on time and haven't even touched a credit card. I am currently in the process of applying to increase the overdraft, requiring statements from my previous bank and proof of funding for my course. I know my situation is slightly different as I'm starting a postgraduate course, but a word of warning to anyone from another bank hoping to switch over to HBOS with ease - it wont be that easy!

My daughter opened a HBOS yesterday in Falmouth. It was very easy and quick, took about 10 mins. She must deposit £100 in the account and has an instant overdraft of £500 and was told she cold 'work up to' £2750 over the 3 years, the £2750 isn't instant which we had hoped.

qtanx

Natwest seem to be the best bank imo for student accounts. Having been rejected by Halifax I thought I'd try Lloyds TSB since I already have a classic current account with them and an 8% regular saver. The people in there had no idea what they were talking about and told me a lot of incorrect information. Basically they wouldn't let me open an account because I only had my acceptance letter from my university with me and not the ucas one. Then they told me they would accept my university acceptance letter but as my course is only 2 and a half years (although it's a BSc) I couldn't open an account as it needs to be 3 years. In their student pamphlet it says your course has to be a minimum of 2 years. I couldn't believe my eyes when I read this so I typed up a complaint letter straight away. Opened a student account with Natwest with no problems whatsoever with my university acceptance letter and not the ucas one. At the end of the complaint letter I mentioned I was considering closing my accounts with them altogether so hopefully they will get their act together soon.

mhoc

Just a reminder to everyone with new accounts to rememeber to ask for and complete the R85 forms if you think that you are a non tax payer or will be below the limit for paying tax in this tax year up to April 2007.

We forgot and the form for my daughter has just arrived, three weeks after the account has opened and a week after she left for uni so it is another thing I have to remember to get her to sign!)

(Someone will know for sure but I think it might be around £85 a week over a whole tax year but if you are only just starting part time work it is unlikely you will earn enough to go over the limit before April)

Mary