More than 1 student bank account?

FrankR

Hello.

Is it possible to have more than 1 student bank account open (at different banks) at the same time? I can't seem to find anything in my Halifax student account terms and conditions that says otherwise.

As long as a shuffle money between the two via online banking, there shouldn't be a problem right?

Futuristic

No bank can prevent you from signing up with another and maintaining multiple accounts.

Lokolo

But some have rules saying your student loan must be paid in. So if its not, there's nothing stopping them from closing your account.

Archi_Bald

What is the reason for wanting multiple student accounts?

dggar

Archi_Bald wrote: »

What is the reason for wanting multiple student accounts?

TSB student account gives 5% interest on the first £500 in credit so if you can get one as well as the TSB Plus you can get 5% interest on £2500.


If another bank will allow you run a student account in the usual way of using one and you have a spare £2500 TSB give a good place to hold it.

GingerFurball_2

Futuristic wrote: »

No bank can prevent you from signing up with another and maintaining multiple accounts.

Student accounts are different because of the preferential OD rates.

jimjames

Lokolo wrote: »

But some have rules saying your student loan must be paid in. So if its not, there's nothing stopping them from closing your account.

But you can pay in different terms to different accounts. I certainly did that back in the days of grants.

knack92

Lokolo wrote: »

But some have rules saying your student loan must be paid in. So if its not, there's nothing stopping them from closing your account.

I've just had a quick look at RBS, TBS, Halifax, Santander, HSBC, Barclays and Lloyds and while some stipulate minimum deposit requirements and/or request you hold only one student account, I couldn't see any requiring student loan be paid in.