Top Student Bank Accounts 2006/7 article Discussion Area

Rintintin_2

Can anyone confirm that they have actually achieved the offer of a £2750 overdraft facility? If so, how did you do it?

howardg_2

My daughter is on a gap year prior to going to uni. Can she take advantage of the banking offers

Dreaming_2

That "£400 per quarter" sounds promising. I may quote that next time I phone up 'I was told..'

Will let you know when my loan goes in!

cutecatgirl

MSE_Martin wrote:

Hi

With regards to the note above about HBOS terms - i thought you'd be interested to see a note from the powers that be to me.

"I can confirm that the maximum interest free overdraft (subject to status) is £2750. This limit is available to new applicants for the account whether they are first year students or in later years and switching from other banks, it is also available to existing Halifax/BoS student account holders (who need to call the bank and ask for it). We do reserve the right to offer a lower limit depending on credit status."The credit status note is the same for all banks (ie all produce maximimums and a few customers get lower limits.

I asked in the branch about this overdraft and was told that it was extrememly unlikely that most students would get it. That they are looking for a very high parental contribution and wages 'near enough the equivalent of a full time job' - not many students could manage this and if they could they wouldn't need the overdraft in the first place surely?! I earn £90 per week and live with my parents and the adviser in the bank said he wouldn't even bother requesting that level for me as I had 'no chance' of getting it.

I'd be interested in hearing the circumstances of people who do manage to get this limit. Mine is currently at £1700.

MSE_Martin

This is very interesting as I had a rather heated discussion with Halifax about this and was told that 2750 is available for the majority of students. It's very diffciult to know though as we havent got to the end of the year - and this has been increased this year! So there is no way to know yet.

Martin

olgadapolga

I opened a Halifax student account on the basis of the overdraft, my student loan and various other payments have gone in, I have requested the maximum overdraft twice and been refused on both occasions. Both times I was messed around, asked to go into my local branch, all sorts of hoops to jump through.

I have now lodged a complaint with Halifax about the whole situation as it is totally ridiculous. The crowning thing is that I have a regular saver with them, which has £3k in it, so I don't think that I'm much of a risk with their money!

binary0110

If you have a Halifax Student account and have had difficulty with increasing your interest free overdraft then it is worth writing a letter to them directly:

http://forums.moneysavingexpert.com/showthread.html?t=281099

techno_geek

I opened a Halifax Student Account in October and got the overdraft extended to £1000 once i'd made the £100 initial deposit to get the card etc.

I needed to increase the overdraft to £2000 to cover my accommodation fees next term, so I telephoned them at the beginning of November - the woman on the end of the phone told me I was currently at the "reccommended" amount, and was adamant I wasn't going to get any more even though I kept stressing that without it I would be completely stuck! I told her to put me through to the lending centre... she fell silent and after a few seconds said she'd speak to her supervisor...

I was on hold for over 5 minutes, but when she returned I was told she could email the lending department and lodge a request for the full amount. I told her to specify that I would settle for £2000, and that it would eventually be paid back by my student loan and my job.

I checked back on the internet banking website later that afternoon, to find my overdraft had been increased to £2000 - proving that if you keep pushing you will get somewhere!

I have written a letter to them complaining that their advert for the £2700 OD was misleading, and that it shouldn't be so difficult getting an overdraft extension, especially because without it I would be in a dire financial situation!

p_larkin99

I am an English resident who is at uni in Ireland

does anyone know if these student accounts will be applicable to me? and if so, are you restricted to having just 1?

Cheers

MrsTee_2

My daughter is 16 and needs to open an account..will she be eligible for astudent account?