Santander bank student account 2012/2013: We want your feedback

Hi all,

In our newly published Student Accounts 2012/13 guide the Santander Student Account is in our top picks.

They offer a guaranteed 0% overdraft of £1,500 in all three years.

We're after feedback from people who have applied this year and want to know your experience and if you had any trouble getting the overdraft.

Thanks for all help in advance :)


  • NoRisk
    NoRisk Posts: 119 Forumite
    I'm going to apply for this. I'm going into my second year and never opened a student account the first year as i don't use overdrafts at all. The fact they offer £50 for free will be a great bonus so it's worth opening for me.
    Goal: Sunshine in summer 2013
    I love to spend

  • i'm torn between the santander and co-op, help !!!
  • I have just had a very disappointing visit to my son's Santander branch trying to open a student account.

    Because he is an existing customer, having had a 16 - 18 years account for two years, they said he is not eligible for the £50!!!

    Even if he had closed his account today, he would not be eligible for the £50 until 3 months had elapsed.

    There is a possibility of closing the account tomorrow, then waiting until after 22nd November and getting the £50 then (the last date to open an account is 30th November) but quite honestly with everything else that will be going on it's the last option.

    So much for looking after loyal customers! I'm appalled. What a contrast to Natwest who are giving EXISTING customers only £100 towards a railcard.
  • I've been with Santander for over 5 years now with a host of savings accounts, current accounts and now a student account. Yes I agree with the previous comment about existing customers not getting the £50 which is not clearly explained, but after checking is online in the 'small print'. However, they offer existing customers a better deal - they provide insurance for a laptop, mobile phone and 2 gadgets for the whole time you have a student account ( 4 years for me).

    I had already researched insurance (by chance) before I went in, and it would cost me around £120/year for that insurance, and that was only whist the items were in my room and not across the whole of the UK! It pays to go in and talk to someone, and look round other banks too and take other banks leaflets in when you go to talk to someone - then they know they are competing for your business. The second best option for me was probably HSBC as they offered me a 1750 overdraft in the 1st year, followed by the Co-Op with £1400 increasing to £2000

    The santander overdraft is £1500 (or thats what I have got) for year 1-3, increasing to £2000 in year 4. With saving £120 a year this was by far the best option for me, but make sure you get the best deal for what you need - if a big overdraft is better, pop into HSBC, ask them to start to open the account to run the credit check and give an overdraft figure and compare with the Co-Op.

    I have never had a problem with Santander through the whole time I have been with them, my worst banking experience was with Halifax.

    Hope this helps

  • i'm torn between the santander and co-op, help !!!
    Read my post below, pick up some other banks leaflets on Student Accounts and then go to see the bank to run through what they offer and find whats best for you in terms of what the bank offers!
  • Collectively we have 5 accounts with Santander - our expectations and needs are very basic. My daughter went in to Santander in Glasgow City Centre this afternoon in order to transfer her current account to a student account and had a disappointing experience - despite being with them for over 2 years she was advised that she was not entitled to the £50 (New Customers Only!!) and that the company had stopped the free insurance incentive ages ago - additionally that "it never covered IPhones because they were the most likely to be dropped into a drink!?"

    Overall she felt spoken down to, unsupported, unappreciated and frustrated by the confusion surrounding their account incentives.

    However, she got to keep her existing account details (upgraded to student) & had £1500 overdraft facility available immediately. I appreciate this would be a satifactory outcome for some - depends
    what your priority is I guess?
  • My daughter is having real problems with upgrading her Santander current account to a Student account. Although the upgrade has gone through at the branch, they told her they need to go through an appeal process before they can apply the overdraft facility (this is due to it being upgraded and not a new account).

    She went into the branch to upgrade on 17th August and despite repeated calls or visits they still haven't applied her overdraft facility and keep saying it's because of the upgrade.

    Has anyone else been experiencing the same issue? I've now raised a formal complaint as even the branch manager can't give me a valid reason why this is taking such a long time.
  • I hate the fact that my student account is with Santander. I rarely speak to someone who knows what they are doing on the telephone banking and always get referred to a branch. I also do not like how they up the overdraft limit at the end of each year without notifying me or asking me if I want the overdraft limit increased. I have had a lot of problems with them charging me when I have knocked myself £10 or £20 over my agreed limit - I get the balance back up as soon as I realise what I have done but then Santander charge me and knock me back into the unarranged overdraft. They always refund though once I have had a nice long stern voiced rant at them.

    I will say however, I went in last week to advise them that I am retaking a year and need to extended the period for which I will have the account for a further year, and they set it back two years which was nice of them. You also don't have to pay a minimum amount in to keep the 0% according to the person I saw in my branch.

    Have cut my card up though and put a lock on my online banking - effectively rendering my account useless. Now paying off the overdraft £50 a month so that I can get rid!
  • Seems like my experience is a one off reading others comments after my own, it seems so strange how different branches of the same banks seem to have different conditions and ways of opening the same account. Bottom line is just try to be upfront with the bank, clearly say what you expect and if they cant offer it take your business somewhere else, or decide the hassle is worth the benefits!
  • I will say however, I went in last week to advise them that I am retaking a year and need to extended the period for which I will have the account for a further year, and they set it back two years which was nice of them. You also don't have to pay a minimum amount in to keep the 0% according to the person I saw in my branch.

    The terms and conditions on Santander's website state that you must credit the account with £500 each term to keep the 0% overdraft.
This discussion has been closed.
Meet your Ambassadors


  • All Categories
  • 341.9K Banking & Borrowing
  • 249.7K Reduce Debt & Boost Income
  • 449.2K Spending & Discounts
  • 234K Work, Benefits & Business
  • 606.2K Mortgages, Homes & Bills
  • 172.5K Life & Family
  • 246.9K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.8K Discuss & Feedback
  • 15.1K Coronavirus Support Boards