Top Student Accounts 2010/11 MSE Guide discussion area

rev_henry

The guide states that the Co Op account t&c's bar you from having another student account but I can see nothing to suggest this in the actual t&c's:
http://www.co-operativebank.co.uk/cfscombi/pdf/student_current_account_terms_and_conditions.pdf

I'm thinking of opening a Co Op for the overdraft, and a NatWest for the railcard; occasionally shifting money between the two so they both look used. What do people think?

Hoodo

I have recently opened a Bank of Scotland Student Account.

Set-up was easy, however remember to take 100 pounds with you to make the account active. They also can set up internet banking with you there in branch.

I was given an automatic 500 pound IF Overdraft.

Looking to open another student account with Natwest for the railcard. If I do open one, then create standing orders between the two accounts, will they be able to know if they're both student accounts, or will it just come up with their account numbers?

PLM

Hi, I'm about to start University and I'm currently bankrupt (will be discharged in November). Would I be able to get a student account? I obviously don't want to get into debt so the size of overdraft is not an issue, I just want a better bank account.

ViolentFridays

I'm not 100% sure where to put this but I just thought it was worth mentioning that I am a student and I have an account with Lloyds TSB and that while they are advertising their overdrafts at interest free NOW, they have written to all their customers saying that from December there will be a £5 monthly charge for ALL planned and and unplanned overdrafts, INCLUDING student accounts.

It might be worth checking if your bank is planning on doing a similar thing.

ViolentFridays

Sorry for multiple posts but I just wanted to add that the conditions of a student bank account state that you must have your loan going into it, and since you can only give student finance one set of bank details, I don't see how people can pull off having 2 student accounts for very long.

Also, as a student who has spent Aprils portion of the student loan and have almost maxed out my overdraft, I wouldn't advise the temptation of two overdrafts, or want the hassle of trying to pay two back.

zurpher

Most bank require students to be "UK citizen or have been resident in the UK for at least 3 consecutive years." Is there any bank where it is possible to get an overdraft although one does not fulfil these criteria?

rev_henry

ViolentFridays wrote: »

Sorry for multiple posts but I just wanted to add that the conditions of a student bank account state that you must have your loan going into it, and since you can only give student finance one set of bank details, I don't see how people can pull off having 2 student accounts for very long.

Also, as a student who has spent Aprils portion of the student loan and have almost maxed out my overdraft, I wouldn't advise the temptation of two overdrafts, or want the hassle of trying to pay two back.

I was wondering about this, although many people seem to have pulled off two accounts...

rb10

The article states that "you will initially get just £500" overdraft from Halifax. This is not true - £500 is the default, but if you ask, they can give up to £1000 straight away.

It then can't be increased until the first loan payment has gone in.

pat0411

My son, aged 21, and a Bank of Scotland customer since the age of 10 (okay, its a basic kids account with an Electron card) tried to open a BoS stiudent accoun this autumn as he is starting his degree, adn he was rejected as his credit score was not good enough. how can someone who has never had any credit have a poor credit score - if you use the credit score checker, he is assessed as 'good'. Anyone else been rejected by BoS and managed to get accepted elsewhere - doesn't want to make repeated applications as repeated rejections will make his score even poorer.

student2010

I'm trying to decide whether to go for a Natwest account and get a Railcard or The Co-Op with with the bigger overdraft.
To get the Co-op one I need to deposit over £300 - does this mean that once I have then opened the account and deposited the money I will just be able to take the £1700 out and put it in a savings account?
Thanks.