student banking 2011/12

bill_the_bus

Have searched the site and forums but cannot find any info on student bank accounts for the coming year. Have found the thread for last year but its obviously outdated now.

My daughter is going to university in Sept and we are trying to set her up an account to use through university but have no experience on this subject whatsoever. What i have read so far is that we would be better going for an interest free loan with the account rather than the freebies offered.

Can anyone offer any advice or point me in the direction of any relevant information.

TIA Bill

rb10

You can't usually open student accounts until the A-level results are out in August.

It is likely, however, that the best two will be Natwest (with free 5-year Railcard - but be aware that customer service isn't their strong point) and Halifax (with the biggest overdraft).

samwsmith1

rb10 wrote: »

You can't usually open student accounts until the A-level results are out in August.

It is likely, however, that the best two will be Natwest (with free 5-year Railcard - but be aware that customer service isn't their strong point) and Halifax (with the biggest overdraft).

You can open them with an unconditional offer from whenever you receive it - So I could go with my unconditional offer tomorrow and open an account.
Or when a conditional turns unconditional on results day.

chris91_2

Lloyds TSB have an early student account which is now open for 2011 uni starters.

grumbler2

rb10 wrote: »

You can't usually open student accounts until the A-level results are out in August.

It is likely, however, that the best two will be Natwest (with free 5-year Railcard - but be aware that customer service isn't their strong point) and Halifax (with the biggest overdraft).

The railcard offer has finished and I have not seen any confirmation anywhere that it will be started again for the Sept 2011 students.

Helix

grumbler2 wrote: »

The railcard offer has finished and I have not seen any confirmation anywhere that it will be started again for the Sept 2011 students.

Same thing happens every year, the offer stops and staff in branch will say they don't know if it will be back. Then every year without fail June / July the offer launches.

Twister84

I'd personally wait until they roll-out the up-to-date benefits for students starting in September to avoid disappointment.

madgagoo

grumbler2 wrote: »

The railcard offer has finished and I have not seen any confirmation anywhere that it will be started again for the Sept 2011 students.

If you want the railcard for 2011 and you don't already have a Natwest account, I would recommend getting into a branch on Tuesday and opening an adapt account (assuming she's under 18), which you will be able to upgrade to a student account once uni places are confirmed.

Looks like the railcard will not be available to new to Natwest customers (anyone opening an account from 1/6/11 onwards).

gt94sss2

bill_the_bus wrote: »

Can anyone offer any advice or point me in the direction of any relevant information.

1. While some banks (HSBC/LLoyds etc.) allow you to open a student account now, I suggest your daughter waits until after the A level results are out - as all the banks will have refreshed/relaunched their accounts.

2. There is a lot to be said for opening an account with the bank that has a branch on your daughter's campus (if there is one) - they will be used to dealing with students.

3. Beware of accounts with new banks (Halifax/Santander) - while they nominally offer attractive interest free overdrafts limits etc, in practice they tend to be harder to get then those offered at a traditional bank.

Regards
Sunil

gujigurl22

i opened my natwest student account just before my 1st year at uni started, all i had to take in was proof of me having a place at the uni and when i was starting etc and that was it but wasnt that easyy at all as i had to go in the branch to get it actually sorted about 6-7times!and making calls to natwest n making a complaint it paid off in the end! and i was relieved that i could start spending and did not have to worry about student loan interest building up as did not get a loan out in 1st year and to be on safer side got a interest free overdraft from natwest, i got the student railcard offer at that point go atleast 2 more years to use on that which is great stuff and is renewed evry year!

fluffig

madgagoo wrote: »

If you want the railcard for 2011 and you don't already have a Natwest account, I would recommend getting into a branch on Tuesday and opening an adapt account (assuming she's under 18), which you will be able to upgrade to a student account once uni places are confirmed.

Looks like the railcard will not be available to new to Natwest customers (anyone opening an account from 1/6/11 onwards).

Son has had an Adapt a/c for years and the Natwest branc here have just insisted on changing it to a student a/c as he's now 18 and plans to be off to uni this autumn They say once he has an unconditional offer when his results are out they will be offering him 1/3 off a 3 year railcard.