Top Student Bank Accounts 2006/7 article Discussion Area

Sausage_Roll

MrsTee wrote:

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

I believe you can. The situation in Scotland means many people under the age of 18 are at University, and open student accounts.

She can open the account, but can't get any overdrafts or credit cards obviously.

Bridgette_the_Hamster

I'm trying to find good bank account for my 17yr old student son.He earns about £25.00 a week. Any suggestions please?

Bridgette_the_Hamster

pollocmc wrote: »

Hi,

I hope to be one of those that are deficit banking as martin called it. i.e. I'm gonna stick the overdraft in a savings account. I have decided to choose between RBS and HBOS for no good reason other than I've banked with them for the last 15yrs (I've just had to close my accounts for personal reasons - not financial).

What I can't decide is whether the £100 plus lower overdraft with RBS is better than the higher overdraft of HBOS.

My course is 5 years (plus a vocational year at the end which I'm not sure if it counts) so I'm inclined to think the higher overdraft is a better deal. Then again RBS might swithch to higher overdraft next year and no cash up front at which point i could increase my overdraft. hmm decisions decisions.

It is also my second undergraduate degree if that makes any difference.

any advice welcome.

How on earth do you stick the overdraft ina savings account? How do you get it out? Bridgette the Hamster

johnnycash_2

My son tried to open a student account today with The Halifax, but he was refused because he had no credit rating. We have since been told this is because he has never had a bank account, so no rating is available. Has anybody else been in this situation, i.e not being able to open an account because you have never had one?

Meatballs

Bridgette_the_Hamster wrote: »

How on earth do you stick the overdraft ina savings account? How do you get it out? Bridgette the Hamster

Assuming you have a £1000 overdraft, and £0 in your student account.

You do a BACS transfer to your savings account for £1000. Leaving you with £1000 in your savings account earning 6%, and -£1000 in your current account at 0%.

princesslizzie

Quick question - I have 2 student accounts. Someone told me this is breach of contract, is this correct? I honestly didn't know! I had an original HSBC account which I just transfered from a current acc to a student and opened a Nat West one where my student loan goes to.

devils_nose

I already know which account I am going to plump for this year, and I already have my AS12 letter so could go and open it up now, just wondering if it is worth delaying to see if there will be any further freebies offered on student accounts next month? I want to avoid the rush but I might aswell get everything I can out of the bank in question. What do you all think?

button16

Hey so what's going to be the best student account for first years this year? I was interested in the Halifax but after reading this it seems a bit of a con...

Gemmzie

Martin hasn't updated the article for this year yet!

Most people can't apply until mid August anyway unless you're lucky enough to have unconditional offers

devils_nose

Gemmzie wrote: »

Martin hasn't updated the article for this year yet!

Most people can't apply until mid August anyway unless you're lucky enough to have unconditional offers

I do and was hoping to avoid the rush.. think I've got all the information I need now (since the banks have all released info on this year's offers and rates) but was just wondering if it was worth waiting any longer?