HSBC Student Account

If you are a mature student who already has a bank account HSBC are refusing to set up a student account.

They then send you leaflet inferring that it's to do with Credit Scoring / References & Fraud Prevention which isn't true as I'm not looking for loans etc (Rather the opposite)...


  • jyeom12
    jyeom12 Posts: 176
    First Anniversary First Post Combo Breaker
    Hi labuckland,

    Not heard of this situation before, but with regard to the credit scoring, this may be something to do with the fact that student accounts will tend to have a 0% overdraft feature, and the bank may not be willing to provide you with this based on your circumstances?

    If it was an online application, it may be worth popping into your local branch, and discussing your requirements with them specifically, as they may be more able to ascertain your needs and how to assist you.

    Sorry I can't be of much help on this matter!
  • CakeCrusader
    CakeCrusader Posts: 1,118 Forumite
    Student accounts often depend upon the course and how long it is. Overdrafts are subject to status (they run a credit check). To be honest, the only good point to having a student account is the overdraft, but if you manage your finances well you don't need it. I'm doing a 1 year postgraduate course and I can't get a student account as I graduated more than 3 years ago and my course is for 1 year.
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