Student bank account - unpaid phone bill?

hannahelleni

Hi,
I am going to university in September and i have just tried to apply for the natwest student account.
Last month i put the money for my phone bill into my account but the bill was over by £4 so i didnt have enough to pay for it so it was returned (i have an online account which i move the money that i need from into my current account so i dont spend it all!)
not only have i been charged £15 by my bank but i have also been told i cant get the student account at natwest because of a credit scoring?
Does this mean it will be the same at every bank? Is there a way of getting rid of it?

Im so confused!!
Hannah

Lokolo

Have you paid the bill?

smartiedriver_2

Hannah. Having returned items on your account adversely affects your credit score. Whilst it is admirable that you keep 'spending' money separate, you really should leave sufficient cushion for just such an event.

In this case, Nat West have declined to assist you, on the basis of your credit score. All banks will do a credit check. And they all have slightly different criteria.

I would recommend you obtain a copy of your credit reports (Experian, Equifax) and review these prior to making any further applications.

In terms of 'getting rid of it' - no, you defaulted on a payment, it is recorded for posterity!

hannahelleni

I did leave enough money over, but my phone bill was £10 over which i did not expect.
I paid it back straight away!
What is experian and equifax?
This is all new to me, im only 18 and i need a student bank account within a month

pcombo

hannahelleni wrote: »

I did leave enough money over, but my phone bill was £10 over which i did not expect.
I paid it back straight away!
What is experian and equifax?
This is all new to me, im only 18 and i need a student bank account within a month

A student bank account isn't a huge requirement of being a student, It only gives advantages that other accounts dont give.

So its not exactly "i need"

register with credit expert and check for defaults etc. But rbs/natwest are normaly good at given student accounts to people with poor credit, so i dont imagine your going to get one with any bank.

hermante

hannahelleni wrote: »

I did leave enough money over, but my phone bill was £10 over which i did not expect.

As you say paying bills may be quite new to you, but don't phone bills usually arrive a few weeks before they take the money out of your account? I got conned on my first phone contract, but at least I knew how much they were going to take from my account..

notts_phil

You should try somewhere like the co-op or yorkshire bank...

However as others have said a student account is not a must unless u can't service without the overdraft. When I went to.uni in 1997 I just used the coventry building society

hannahelleni

I think that i will probably need the overdraft from the bank, just as a back up even if the student loan doesnt cover everything.
I might try the co-op but will i be rejected from there too?
I dont get a phone 'bill' on paper, it just sends me a text saying your phone bill is due today and then takes the money out, its the same day every month

notts_phil

hannahelleni wrote: »

I think that i will probably need the overdraft from the bank, just as a back up even if the student loan doesnt cover everything.
I might try the co-op but will i be rejected from there too?
I dont get a phone 'bill' on paper, it just sends me a text saying your phone bill is due today and then takes the money out, its the same day every month

Well only the co_op will tell u when u apply. You haven't got anything to loose

Experian_company_representative

There are three credit reference agencies (CRAs) in the UK - Experian, Equifax and Callcredit. Banks and other lenders share details, with your permission, with these agencies (not always with all three) about any credit you take out and how you handle it. The data is usually updated each month. When you apply for new credit the lender will get your permission to check with one or more of the CRAs to see how creditworthy you are. As someone else said, if your bank account went slightly out of order then you could find that the bank have registered adverse data on your credit reports (the information held about you by the CRAs) for that month. You can check your credit reports with each of the CRAs at any time. A one-off copy of each stuatutory report costs £2 and there are other extra services available such as credit report monitoring (which often come with free introductory trials) and credit scores. You'll find details on each CRA website. It's a good idea to look at your credit reports from time to time to make sure the information is accurate and up to date.

James Jones

hannahelleni

Thank you James!
That was the kind of information i was looking for