How many student accounts can you open

oliversw

I already have a Natwest account but I am curious to know if I can open any more?

A_Doonhamer

Some allow you to have more than one, some dont. Need to read the terms of each account and see.

melancholly

http://www.moneysavingexpert.com/banking/Student-bank-account
summary towards the end of this - but terms may change for the new academic year

nimbo

i did it - and the rules of each student accout will state the expect you to pay in your loan etc....

got a phone call from Abby saying they wanted all of their overdraft back in less than a week....

think VERY carefully before doing it, as in the long run it will probably end up being stressful...

oliversw

Hey Nimbo,
how many accounts did you open was it just the 2?

blondeyk89

my advice DO NOT DO IT. i opened 2 and now i have got myself in a right mess and will be paying them off for another 2 years. its not worth it get a part time job instead

oliversw

I'm not having a cashflow issue, it is nothing like that I am still still over 1500 in the black with my next loan installment to come in, Just thought I could earn some free money

nimbo

oliversw wrote: »

Hey Nimbo,
how many accounts did you open was it just the 2?

yes - very stressful....

i lived with someone who had three and endedup in such a huge mess she didn't finish uni....

there is a lot of fine print and TBH i think most banks have now closed the loopholes that allowed it, and when opening a student bank account they ask if you have any other student accounts. lying in response to that question - which will most likely be contained in the fine print is in fact fraud.

oliversw

ok I think I will pass on my plans then, thanks for your help

blondeyk89

i didnt finish because of the mess i got myself in so good choice!