bank account suitable for me

tarty · 28 September 2011 at 3:27PM

I need to open a bank account, this is what I need:

- debit card, I heard that Visa is more accepted so I would prefer it. I will use it both at shops/supermarkets and online.

- I applied for the student loan for my uni course, so SFE should be able to put in money but I guess this is possible with all types of accounts

- my parents should be able to give me money (like transferring money from their bank account to mine), I don't know if it matters but they live in Italy. How much will it cost them?

- online management (viewing money spent, money left, etc)

- if possible, I would like to know these general questions:
the minimum amount required to open the account
the minimum balance that the account must have
does it take some money every once in a while (like interest or maintanance cost)?
does it take some money when I use the debit card? What about cashbacks or withdrawing at atms?
does it have an interest rate so that my money increases?
must I put/withdraw/use a certain amount of money every so often?
loan/overdrafts (these are not necessary)?
time required to open?

I have a Lloyds TSB branch quite close, so I would prefer them. I don't have a job currently (never worked) but I may in the near future. Never had a bank account so I'm 'clean'. I'm an EU student (italian).
I think it's quite clear that I don't know much about banking, so please try to bare with me.
Also sorry for my bad english.
Thanks!

tarty · 29 September 2011 at 11:00AM

Anyone can help?

jalexa · 29 September 2011 at 11:24AM

tarty wrote: »

Anyone can help?

I suggest you go for a Basic bank account. Info here...

http://www.moneyadviceservice.org.uk/_assets/downloads/pdfs/your_money/bank_accounts_table.pdf

Which bank is up to you. Choose one with a convenient ATM and/or branch near you but beware of forthcoming branch transfer/closures.

For these reasons I would suggest Natwest (in England) or RBS (in Scotland).

tarty · 29 September 2011 at 5:20PM

I was thinking to go with lloyds since they're close to me.
What do you think about the classic account? It's similar to the cash account but it has a few advantages, mainly the interest.

jalexa · 29 September 2011 at 5:57PM

tarty wrote: »

I was thinking to go with lloyds since they're close to me.
What do you think about the classic account?

That is a "full service" current account that will probably require a credit check. You may struggle with that because of your lack of UK residential history, not not to mention no job.

If you are a bone fide student maybe think about a student account?

jonesMUFCforever · 29 September 2011 at 6:59PM

OP you will not qualify for a student account - it is unlikely that you will get a classic account but they should be able to open a cash account for you.