Inactive student account HSBC

biostudent

I opened a student account with HSBC in my first year of university so I could get the benefits of interest free over draft and a rail card. However, I never ended up transferring any money into this account and I can't even remember the details. I never felt I needed the overdraft as I always had enough money in my account. I am now in my third year of university using my regular natwest account. I am now worried this inactive HSBC account will affect my credit score. Shall I close the account?

EachPenny

biostudent wrote: »

I opened a student account with HSBC in my first year of university so I could get the benefits of interest free over draft and a rail card. However, I never ended up transferring any money into this account and I can't even remember the details. I never felt I needed the overdraft as I always had enough money in my account. I am now in my third year of university using my regular natwest account. I am now worried this inactive HSBC account will affect my credit score. Shall I close the account?

Why do you think it would affect your credit score? Is the account in debit? Have you kept HSBC up to date with your address and contact details?

Do you have any other current accounts (aside from the Natwest one)?

It is generally advised to have more than one current account spanning different banking groups, so if one has a problem (e.g. an IT meltdown) you would still have access to the other account.

Unless you are breaching T&C's by having more than one account, and if there is nothing 'bad' in relation to the HSBC account, then I'd be inclined to pay some money into it and start using it for occasional transactions.

System

Phone them up and get a new debit card sent out.
Keep as a spare incase NatWest have issues.