Natwest student account £750 every 3months!

richcrafts

Thanks for helping out a 'newbie'!
As suggested, perhaps a little juggling of my finances might be the answer - I might be able to pay £750 into his account just before the 3 months is up and he could pay it straight back to me the next day, that should count as a deposit?
These conditions will make it tricky for most students, I would have thought. Perhaps they are actively seeking to discourage students having an account with them for some reason?
Thanks again everyone

hermante

Can you not withdraw more cash than you need and then deposit some of it back in, like how people cycle money for the Halifax / Santander / Lloyds accounts?

twig1_2

More like trying to discourage people using the free overdraft facility.
I've banked with Natwest since my student days and am shocked they are so far from being competitive with most things. Lloyds have been in contact with potential student account holders since June Nat West were still unaware what student facilities they were going with and said their new acounts wouldn't be available until August. Be warned if you are planning to open up a new student account to get the free 5 year railcard it is only available if you have a open adapt account.

richcrafts wrote: »

Thanks for helping out a 'newbie'!
As suggested, perhaps a little juggling of my finances might be the answer - I might be able to pay £750 into his account just before the 3 months is up and he could pay it straight back to me the next day, that should count as a deposit?
These conditions will make it tricky for most students, I would have thought. Perhaps they are actively seeking to discourage students having an account with them for some reason?
Thanks again everyone

stclair

Yes alls you would need to do is recyle money through the account every months to ensure £750.00 limit is met.

madgagoo

It was notified today that due to feedback from branch staff (that the student grants etc are usually every 4 months, so 3 monthly requirement is not sensible) that this condition has been changed to £750 every 6 months.

New letters should come out in the next couple of weeks advising this.

Hope that helps.

stclair

madgagoo wrote: »

It was notified today that due to feedback from branch staff (that the student grants etc are usually every 4 months, so 3 monthly requirement is not sensible) that this condition has been changed to £750 every 6 months.

New letters should come out in the next couple of weeks advising this.

Hope that helps.

Phew panic over

I was thinking every 3 months was abit harsh.

chris91_2

Been updated on RBS website to £750 every 6 months. Still think RBS/Natwest could loose a lot of students with them now no long offering the railcard/travel package.

richcrafts

Thank you madgagoo, that will make things easier! Perhaps a bit of people power in action! I will look out for a letter and keep an eye on the website.

ixia

My son got his rail pass through again this year is it because he had it previously? Didn't get the travel pas this year though.

MrsBartolozzi

Thats's odd, my son got both the travel pass and rail card last year, but has received nothing so far this year. Is the railcard itself supposed to be valid for longer than 1 year?


I did notice that in addition to changing the amount you need to credit going from £750 every 3 months to every 6 months they have reduced the interest rate from 1.02% (ie not great but better than their ISA rate) to zero!! That's a bit cheeky!