Halifax student/current account - advice please

alannarama

Hi everyone

I'm a student in my final year of a five-year course. Throughout my time at uni I've had two current accounts including a student account at Halifax with a 500pound (my keyboard won't make a pound sign! weird) no charge overdraft - pretty normal for students I'm told.

For the first 4 years I was pretty good at budgeting and only went into this overdraft twice, and brought the balance back into the positive within a fortnight each time. This academic year though, student loan is less than half what it was, and money has been a lot tighter. I've been sitting in the Halifax overdraft since late January until yesterday when student loans and a rebate check brought it up again. I just looked at my online banking and realised that since Jan I've had a 15-35 pound overdraft charge each month. I did some more poking around and realised I can't find "student" anywhere on my account details - it just says current account!

I'm really mad at myself for not noticing this before! I keep an eye on my account balance but it's always been roughly where I thought it should be - overdraft limit has never changed from 500 and given that I never really used it before, I have no idea when my account changed or when they started the charges.

I am willing to take the charges as an expensive lesson to pay more attention to my bank statement each month and go through it carefully, not a quick glance through. My concern, though, is getting my student account back. Does anyone know if Halifax is likely to reverse it? At the time I opened it they said there was 6 months (I think) after my course finished to pay back the overdraft. If it makes any difference, I am officially a student until the end of June, and provided I pass finals (fingers crossed) I have a well-paid job lined up to start at the beginning of August. Given the reduced student loan this year, though, I was relying on the student overdraft to get me through graduation, grad ball, moving house and all that jazz until work starts.

I plan on going into the bank to talk to an advisor tomorrow but this on top of exams stress has just sent me into a bit of a tizzy - if anyone has any advice (other than read your bloody mail!) or similar experiences I'd be grateful.

Alanna

Lokolo

Student accounts tend to only last 3 years. You'll have to read the T&Cs of the student account to see if it says "for 3 years" or "for the length of your course", and if it's the latter you should be able to change it back but they are not psychic and I doubt they will refund the charges because of that. But I suppose it would stop any future charges for a bit.

opinions4u

When you visit branch, take with you proof of when your course ends. As Lokolo says, most degree courses don't last for 5 years.

Ask them (politely) to record that on their systems, refund the charges and make the account a student account again.

The account should remain a student one until 12 months after the registered end of your course.

firsttimestudent

You must be a medical student aren't you?

Halifax does cover up to 5 years of university education + 1 more year after, so you are covered.

Usually, Halifax's Student Account overdrafts are subject to annual review... usually before the end of your current overdraft term they will send you a letter asking you to go to a branch or call their phone banking, I think somehow you must have not received the letter.

You will need to bring some ID and a university student card which clearly shows that you are still a student. (In the past, Halifax has even wanted a 'statement of attendance' to confirm I am still a student despite my university student card).

In case the branch advisor does not know these stuff (and tell you you can't get a student overdraft or 'computer says no'), you need to tell them to contact the Overdraft Underwriting Team (on Saturdays, they open until noon, so be there early). On my Halifax student account for example, I am always 'recommended' only £1000, but the Underwriting Team always overwrites it and gives me £3000 upon showing my student status. I know your case is slightly different (in that your account has 'expired'), but I believe it should be solveable through the same method.

So go in early tomorrow, be armed with your ID and a Student Card, if they say no, persist and ask to speak to the Underwriting Team directly. Tell them nicely too you had no communication about expiry of the overdraft, and I am sure they will be kind enough to reinstate as well as refund the charges.

Good luck! Let us know how things go.

pinkdalek

Take confirmation into the branch that your course ends in June, they can update the account and change it back to a student account which will help prevent future charges.

See what they say regarding previous charges, they may help, you should have received something to say your account was coming off the student account, you may well have done but not realised. If you enrolled for another course which is for a further few years then you needed to have let the bank know as originally they would have put a course end date in for your original course, this is why your student account came to an end as from their perpsective you had finished being a student. (make sense?)

Be patient with them thats all I can advise, it is unlikely the branch can do something immediately for you and they will have to notify their admin unit to correct your account.

alannarama

Thanks for the advice, everyone.

Got it in one, firsttimestudent. Finals over the next few weeks, five weeks of unpaid shadowing, a month of vacation then junior doctoring! Eep! Are you a medic too?

Pinkdalek that sounds about right, I was originally on a 3 year course, at the end of my first year I transferred to my current 5 year course, I did let them know at the time like the woman told me to when I signed up, but I never thought to check at the end of third year that it was still a student account, from my perspective it was running the same as it always was.

Thanks again everyone, I'll go in bright and early tomorrow with patience and a bunch of paperwork. Keep your fingers crossed for me! I plan on asking nicely to refund the charges but I probably won't push the issue, I really should have been paying more attention to my account, I do hope they'll reinstate my student status though.

opinions4u

alannarama wrote: »

I plan on asking nicely to refund the charges but I probably won't push the issue, I really should have been paying more attention to my account, I do hope they'll reinstate my student status though.

You just don't get it do you?

You're meant to go in to a rant about how these bailed out banks are the anti-Christ and tell us that all the ills of the world are the fault of cashiers earning a bonus of £600 a year becuase the branch hit their sales targets! Use words like "scam" and phrases like "rip-off" or "mis-sold".

It's their fault - always!

(Seriously though, good luck with the studies and well done on accepting responsibility for your own account conduct. I think you'll find that you get your charges back, but it's not a certainty. I would suggest keeping a close eye on all things financial though - spend an hour a month checking everything, especially savings rates and any changes to charges or terms and conditions).

alannarama

opinions4u wrote: »

You just don't get it do you?

You're meant to go in to a rant about how these bailed out banks are the anti-Christ and tell us that all the ills of the world are the fault of cashiers earning a bonus of £600 a year becuase the branch hit their sales targets! Use words like "scam" and phrases like "rip-off" or "mis-sold".

Damnit, I knew I was making a mistake somewhere! Cheers!

firsttimestudent

alannarama wrote: »

Got it in one, firsttimestudent. Finals over the next few weeks, five weeks of unpaid shadowing, a month of vacation then junior doctoring! Eep! Are you a medic too?

Yes I am!

From the looks of your coming schedule, we are NOT in the same university! Lol.

Good luck for tomorrow! And for your coming finals. Let us know things go.

alannarama

firsttimestudent wrote: »

You will need to bring some ID and a university student card which clearly shows that you are still a student. (In the past, Halifax has even wanted a 'statement of attendance' to confirm I am still a student despite my university student card).

I went to Halifax today. The advisor said this actually happens quite often, and they'd be able to reinstate my student account, but my student card and latest (Oct-Nov) letters from the university weren't sufficient proof, they need to see a specific admissions statement which I think is what firsttimestudent mentioned above. I've ordered this from my uni's student services department and it should be posted out next week, which is fine - my account balance is positive so I won't be getting overdraft charges in the mean time. I didn't ask today about refunding the charges, I figured I'd leave that until they have actually reinstated my account.

Thanks again, everyone. Looks like it'll all be fine

stormbreaker

firsttimestudent wrote: »

You must be a medical student aren't you?

I read this thread with interest as my son is also a student. But I digress, he is doing a 5 year Masters degree. He is not a medical student. There must be a number of subjects which are similar.