Student Account?

jimmysayshey

I'm confused as to who to go with. I've seen the MSE comparison, but that's from 2010/11, and I'm starting my undergrad for the year 2011/12, so things might've changed since then.

I understand Co-Op is the best, since they offer the best overdraft. But is there alot of smallprint with Co-Op?
Also, I'm not sure as to whether I need to make a student account just yet. I've sent off my Student Finance application, and i've also got a letter from UCAS confirming my place at a University. Is it too early to make an account, cos I will eventually need to give Student Finance my bank details to put my grant in (I have a current account with Natwest too).

Any help would be much appreciated

Thanks

Lokolo

You won't be able to get an overdraft until you've got full confirmation (so results).

Don't go for the one with the biggest overdraft; you may not need it, you may not get it.

If you already have a current account with Natwest, put those details for your payments to go into, and wait til August when student bank account information has been released.

melancholly

wait until later in the summer and there will be a new article - most banks won't have set out their offers for next year yet. i'd suggest a student account is a good idea to get; if you don't need the overdraft, you'll still get some 'gift' for signing up and if you do need it, it's there. some people only try to open the account when the situation is desperate, which can make things more difficult.

jimmysayshey

Lokolo wrote: »

You won't be able to get an overdraft until you've got full confirmation (so results).

Don't go for the one with the biggest overdraft; you may not need it, you may not get it.

If you already have a current account with Natwest, put those details for your payments to go into, and wait til August when student bank account information has been released.

Full confirmation of what? I've got an unconditional offer (meaning i'll go to that university regardless of results) if that's what you mean?

And that seems feasible (your second bit), I just thought it was common practice to open a new student account in may/june and get all the funds sent there.

So I can basically open a student account whenever I want throughout my 3 year course?

atypical

jimmysayshey wrote: »

Full confirmation of what? I've got an unconditional offer (meaning i'll go to that university regardless of results) if that's what you mean?

That's what he was talking about.

jimmysayshey wrote: »

So I can basically open a student account whenever I want throughout my 3 year course?

No, open it in a few months time when all the banks have announced what they are offering this year. As melancholly said, some only give gifts if you apply between certain dates and now is too early.

There's no rush yet anyway. You have plenty of time until Sept/Oct.

GothicStirling

jimmysayshey wrote: »

I understand Co-Op is the best, since they offer the best overdraft. But is there alot of smallprint with Co-Op?

I don't know where you have heard that, but my sister went with the Co-operative and they we terrible.

I recommend either RBS or Halifax/HBOS.

alflynn

I understand where coming from, I an same with unconditional offer and the sooner you have a student account the longer you benefit! MY next thought is go with one now and change when new offers come out as view don't usually have a minimum term that I kno of? Either way I need to leave santamder before they charge me for 'an unauthorised overdraft' again when I've never touched it!!

tom717

jimmysayshey wrote: »

So I can basically open a student account whenever I want throughout my 3 year course?

You can but you are better off doing it in your first year (or before) as some offers are usually only available to first year students. Lots of people don't do it until they are at university, the bank near my student union is always packed in Sept-Oct with people opening accounts.

Anastasia

You only need your UCAS letter for Natwest. My son is with them and they have been great.

Their 5 year student railcard is only going to be for existing customers this time. The branches were only told a couple of weeks ago.

GothicStirling

Anastasia wrote: »

You only need your UCAS letter for Natwest. My son is with them and they have been great.

Their 5 year student railcard is only going to be for existing customers this time. The branches were only told a couple of weeks ago.

Just be aware that in Scotland NatWest branches are being sold off to Santander next year.