student banking 2011/12

rb10

gt94sss2 wrote: »

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.

Doesn't need to be on campus - remember that every university town probably has a branch of all the big banks, and they'll all be used to dealing with students.

And how often do you need a branch, anyway?

gt94sss2

rb10 wrote: »

Doesn't need to be on campus - remember that every university town probably has a branch of all the big banks, and they'll all be used to dealing with students.

True, though I think my advice still holds true if you go to a university in a big city..

And how often do you need a branch, anyway?

Probably more than normal when you're a student..!

Regards
Sunil

Frithabell

I'm also starting university this September!

I've whittled my bank choices down to Co-Op and Santander! Everyone I have spoken to with Lloyds have said they charge them for everything and they just get grief (I currently bank with Lloyds, and agree with this, to be honest).

Co-Op do offer a larger overdraft (£1400 in 1st year, £1700 in 2nd year and £2000 in 3rd year) but it has to be paid back within a year.

Santander offer up to £1000 in 1st year, up to £1250 in 2nd and up to £1500 in 3rd from what I remember), but they also offer laptop, mobile and gadget insurance free.

Natwest currently aren't offering the rail card (however, I have also been told that banks throw in the freebies later on in the summer), however, I'd very much support the idea of not just being enticed by the freebie and making sure there is a branch nearby the chosen uni as certainly as far as I would think, I would prefer to be able to go and speak to someone than have to pay the cost of phone calls!

JacksterD

Frithabell wrote: »

I'm also starting university this September!

I've whittled my bank choices down to Co-Op and Santander! Everyone I have spoken to with Lloyds have said they charge them for everything and they just get grief (I currently bank with Lloyds, and agree with this, to be honest).

Co-Op do offer a larger overdraft (£1400 in 1st year, £1700 in 2nd year and £2000 in 3rd year) but it has to be paid back within a year.

Santander offer up to £1000 in 1st year, up to £1250 in 2nd and up to £1500 in 3rd from what I remember), but they also offer laptop, mobile and gadget insurance free.

Natwest currently aren't offering the rail card (however, I have also been told that banks throw in the freebies later on in the summer), however, I'd very much support the idea of not just being enticed by the freebie and making sure there is a branch nearby the chosen uni as certainly as far as I would think, I would prefer to be able to go and speak to someone than have to pay the cost of phone calls!

You say everyone's telling you Lloyds have bad service so you don't fancy going with them - if that's the case then definitely avoid Santander. A quick look through this forum will show you they are truly the worst bank for customer service.

On the other hand, The Co-Operative are said to be one of the best for service, although their branch network isn't very big. You get a year after graduation to pay back your overdraft, after that they start charging for it. However, if you still have a hefty overdraft, you could apply to either Lloyds TSB or Natwest when the time comes as they both offer 3 year interest free graduate accounts.

surfsister

JacksterD wrote: »

You say everyone's telling you Lloyds have bad service so you don't fancy going with them - if that's the case then definitely avoid Santander. A quick look through this forum will show you they are truly the worst bank for customer service.

On the other hand, The Co-Operative are said to be one of the best for service, although their branch network isn't very big. You get a year after graduation to pay back your overdraft, after that they start charging for it. However, if you still have a hefty overdraft, you could apply to either Lloyds TSB or Natwest when the time comes as they both offer 3 year interest free graduate accounts.

thoroughly agree sanatander was just voted worst customer services provider of the year and it's true. They are hopeless and just don't care either.It too them 9 months and contact with a director to get my money back from a current account!! Useless. Nat West I have found great in three years student banking.

thermalaudio

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).

As the railcard only cost's £20 per year or £54 for a 3 year railcard, its more practical to not associate it with a student bank account and simply purchase it separately at any train station. Its a gimmick that the bank is offering to make students think that its some highly prized benefit of their account.

I'm starting Uni in Sept as a mature student and yesterday I went to Natwest, RBS & Santander.. which I note for those who are not already aware.. RBS owns Natwest.. and Santander is taking over RBS in the next few months.. so any/all of their students offerings for 2011/12 were a load of tat and I simply binned all of their literature.. RBS being the worse with £500 per term through the first year.

HSBC seems to offer better than the above 3, Barclays offers a full £2000.00 interest free overdraft, and First Trust Bank offers £1850.00