Student Banking

srisport

Hi All,

i have recently returned to full-time education as a mature student after working un-skilled for 10 years, and i am in abit of a predicamant when it comes to student banking....

I am currently banking with Natwest who i have been with all my life........

I have an ISA with them with a substantial figure in which i have worked hard for over my past career but they have recently dropped my interest to 0.7% which im not too pleased with.
My main account is also with them but im in the process of changing to a student account in order to take advantage of the 0% interest overdraft.... again they are'nt too competitive when it comes to them either

My Question is?

I dont paticularly want to leave natwest because of the hassle that might bring to me.
Santander are currently offering a good student account which i could also attach my current ISA contribution too which also have a very competitive rates.

would it be as easy as opening an account with santander with there good rates while leaving my natwest account open to handle my direct debits etc....

is it possible that this would have a negative effect on my credit score?

any advise and reccommendations are much appreciated

Regards.
Mike

agrinnall

Sorry to be blunt but you are mad if you leave your money in a substandard account, and having an ISA with Natwest is simply throwing money away. I suggest you do two things:

1) Read the MSE ISA guide to choose a better provider who accepts ISA transfers and contact them to arrange the transfer.

http://www.moneysavingexpert.com/savings/cash-isa-transfers

2) Use the account switching service to move all of your banking to a new account. I'm not sure if this can be done to a student account, but even if it can't there's no reason not to have the Santander student account alongside your other banking.

http://www.moneysavingexpert.com/banking/compare-best-bank-accounts

http://www.moneysavingexpert.com/banking/compare-best-bank-accounts#switch

srisport

agrinnall wrote: »

Sorry to be blunt but you are mad if you leave your money in a substandard account, and having an ISA with Natwest is simply throwing money away. I suggest you do two things:

1) Read the MSE ISA guide to choose a better provider who accepts ISA transfers and contact them to arrange the transfer.

http://www.moneysavingexpert.com/savings/cash-isa-transfers

2) Use the account switching service to move all of your banking to a new account. I'm not sure if this can be done to a student account, but even if it can't there's no reason not to have the Santander student account alongside your other banking.

http://www.moneysavingexpert.com/banking/compare-best-bank-accounts

http://www.moneysavingexpert.com/banking/compare-best-bank-accounts#switch

Thanks for your advise

Regards.
Mike