Eligible for a student account?

tim131

Hi all,

I am an Irish citizen, but have been living and paying taxes in the UK for almost 2 years now, I am interested in getting a student account with an overdraft facility, as I am moving to London to study, and haven't got a job sorted yet, so would be nice to have an overdraft to fall back onto just in case it takes longer than it should to get a job!

Do you think it would be possible for me to get an overdraft, or would I be ineligible?

Many Thanks,

Tim

ses6jwg

If you are classed as a UK resident I fail to see why you cannot apply for a student account.

Most overdrafts are subject to status but there are few which are guaranteed, albeit with lower limits.

tim131

ses6jwg wrote: »

If you are classed as a UK resident I fail to see why you cannot apply for a student account.

Most overdrafts are subject to status but there are few which are guaranteed, albeit with lower limits.

Cheers for the reply, muchly appreciated!!

But, do I have to be living in the UK for 3 years to be classed as residnet, or because I'm EU citizen, its from the day I arrive?

Thanks,

Tim

hermante

tim131 wrote: »

Cheers for the reply, muchly appreciated!!

But, do I have to be living in the UK for 3 years to be classed as residnet, or because I'm EU citizen, its from the day I arrive?

Thanks,

Tim

Depends, for immigration purposes Irish citizens are classed as settled from the day they arrive. For tax purposes, you're resident if you spend more than 183 days in a tax year.

To open a student bank account you should be fine since you have been here for 2 years, you will have bills and payslips and you shoudl be on the electoral roll. Overdraft depends on how your credit rating has been over the past 2 years.

jonesMUFCforever

I disagree.
Banks tend to specify that 'aliens' have to be here for a minimum of 3 years before they will think of letting them have credit facilities.

OP do you have an Irish or UK passport (and driving licence) ?

If it is Irish you will get a basic account and no more but there is nothing stopping you apply with an Irish bank back in the Republic.

ses6jwg

jonesMUFCforever wrote: »

I disagree.
Banks tend to specify that 'aliens' have to be here for a minimum of 3 years before they will think of letting them have credit facilities.

OP do you have an Irish or UK passport (and driving licence) ?

If it is Irish you will get a basic account and no more but there is nothing stopping you apply with an Irish bank back in the Republic.

The type of ID the OP provides has absolutely no bearing on the credit facilities they will get.

I've personally processed a 15k unsecured loan to someone who used a Nepalese passport as ID. They had been in the UK 15 years and had a mortgage etc.

.... However, think carefully before applying for a student account because some overdrafts are subject to status.

I work for Santander and our overdraft facilities are guaranteed provided you meet the £500 per term funding requirement.

jonesMUFCforever

ses6jwg wrote: »

The type of ID the OP provides has absolutely no bearing on the credit facilities they will get.

I've personally processed a 15k unsecured loan to someone who used a Nepalese passport as ID. They had been in the UK 15 years and had a mortgage etc.

.

Slightly over 3 years then yes?
The id will confirm whether the person is a UK citizen or Irish.

If Santander offer credit facilities to overseas people good for them - most other banks won't.
The terms on Santander 's website state that applicants must be permanently living in UK.
We don't know what status OP holds.

InsideInsurance

My experience is that most banks will look at foreign citizens as my when I first meet my wife she had been in the UK for 2 years and had held credit facilities with a number of institutions including Santander, Natwest and Barclays.

If you look at Santander's T&Cs it states you must be:

You must be resident and ordinarily resident in the UK for tax purposes

Ordinarily resident basically means your intending to be here for a while rather than on a short term/ temporary basis

jonesMUFCforever

Let OP apply then and then we will find out if he is successful or not.

jonesMUFCforever

InsideInsurance wrote: »

My experience is that most banks will look at foreign citizens as my when I first meet my wife she had been in the UK for 2 years and had held credit facilities with a number of institutions including Santander, Natwest and Barclays.

If you look at Santander's T&Cs it states you must be:
Ordinarily resident basically means your intending to be here for a while rather than on a short term/ temporary basis

When did you meet your wife?
I bet it was more than 3 years ago.

InsideInsurance

It is literally 3 years ago, though not sure the relevance as the cards/ overdraft she had were in place when I met her and she'd been here less than your stated required 3 years.