Top Student Accounts 2010/11 MSE Guide discussion area

XEO25

My mum emailed me a link this morning saying the Co-op student account was the best one to go for. Can anyone confirm this? I'm no expert but I would have assumed one of the bigger banks such as Barclays or Natwest would offer the better deal?

Here's the link: http://www.beststudentaccounts.co.uk

Thanks to anyone who can advise.

eddieh_2

melancholly wrote: »

prob not til later as the banks haven't announced their deals yet. give it until august (people can't apply until they are accepted on courses, so it tends to happen closer to results being given out).

I give them a few more days I guess. I'm swaying towards Barclays right now as they have a overdraft of up to £2,000 interest-free, but I rather wait until what MSE thinks before I apply for anything.

johnswife

My daughter is hoping for a bank offering a railcard but suppose an overdraft might be more useful. She will hopefully be at Bath but her boyfriend will be at Bristol so guessing there may be some travel between the two.

devildog

My youngest has just received paperwork through from Nat West advising that they will be converting his adapt account to a student one at start of September.
The 5 year railcard will be provided(subject to online banking and paperless statements)
Interest free Overdraft facility(subject to approval)-upto £1,000 first year(spread across three terms though, term 1 £500, term 2 £750 and £1000 term 3)
The small print on the back does say though that these offers only available to Nat West customers who will be first year undergraduates commencing course 2011 who automatically convert to Student Account between 15 Jul-2 Oct 11.

maggiesoop

My friend works for Santander and says that the Student Banking with them offers free insurance for laptop and mobile. As this will be my son's first year when he'll probably be all over the place and settling into looking after himself, I'm thinking this may be the best option as all the others just seem to offer bog standard overdraft facilities. I'm going to be sending him a certain amount to live on every month so not the most attractive option to me. Anyone find anything in the small print to put us off?

devildog

Haven't read the small print but(if you haven't already) check your home contents insurance policy as some autmatically cover students away from home at Uni. Mine doesn't do this but a friend's does so it may be worth checking first.

veekay

I went into my local HSBC branch to apply for OD increase as going into second year and was declined because I don't have a regular income (they look at deposits in the past 3 months).
I was on placement (5 days a week) then summer holidays looking after my three kids.
I work one day a week but the money goes into our joint account and apparently that doesn't count!

Computer said, NOOOOO!:mad:

I shall be taking my business elsewhere, I think:p

nabeelv

I have just finished my second year I went with Halifax for the overdraft even though there was a lot of people saying you're unlikely to get the full amount. I haven't had any problems with them so far (touch wood) the online banking is easy and I was able to get the full £3000 overdraft with no hassle just a quick call. I think its worth considering them. Also from what I've heard Natwest are going to stop the railcard offer, i think there's a thread on student room about it

jeanmd

maggiesoop wrote: »

My friend works for Santander and says that the Student Banking with them offers free insurance for laptop and mobile. As this will be my son's first year when he'll probably be all over the place and settling into looking after himself, I'm thinking this may be the best option as all the others just seem to offer bog standard overdraft facilities. I'm going to be sending him a certain amount to live on every month so not the most attractive option to me. Anyone find anything in the small print to put us off?

My daughter opened a santander student account a couple of weeks ago. I've looked at the insurance and it looks good to me. I use to be a financial adviser many years ago so tend to go through everything with a fine tooth comb. You do need to have the receipts to claim.

They also opened an ISA for her, she is going to put her rent in when she gets her loan. She can take it out anytime she wants without penalty so just move it over when it needs to be paid.
She loves the fact that when she logs into her account it shows them all, which will make it easier for her to move money.
I forgot to say, she also has a credit card to build up a credit rating. she uses it to put petrol in her car and pays it off in full every month.

devildog

nabeelv-Nat West may be stopping railcard for new student customers but those that already have an account with them and convert to a student account still get the railcard (subject to online banking and paperless statements)

My eldest(student) also has Nat West student account and an ISA account with them and also moves money between the two online with no penalties.Has overdraft facility(not used) and credit card (little used-taken out to start building a credit rating)with them too.
Can honestly say they have provided first class service, although appreciate that it may just be down to a decent branch.