two accounts, caught? HBOS?

braken2000

What happens if natwest catch you with another student account? What will happen, it cant be illegal surely.

Also, how hard is it to open a HBOS student account, and can they find out about the other account through their credit search?

peace-babies

its not illegal though it does break their terms and conditions that you signed when you opened the account, the nature of a credit check means that yes they will find out that you have another account as they also check how many credit checks youve had, unauth o/ds youve had etc...
though what they do exaclty i dont know, my guess is they will close the account down or not agree to you opening the account

braken2000

i see. Well when HBOS come back to me and if they do offer im going to refuse. Is there a way i can see how many times my credit file has been checked? not by who but just how many times. Thank you for your help.

peace-babies

the only way you can look at your credit rating is by going to a credit checking company such as experian pay them about £10 and they will give you a list of your credit rating whos checked how many times etc

Goat

peace-babies wrote:

the only way you can look at your credit rating is by going to a credit checking company such as expedia pay them about £10 and they will give you a list of your credit rating whos checked how many times etc

If you get a copy of it does it count as a credit check and reduce you credit rating slightly?

peace-babies

no it you either write to them or get the webaddress and do it online. but it wont affect your credit rating

BWZN93

peace-babies wrote:

the only way you can look at your credit rating is by going to a credit checking company such as experian pay them about £10 and they will give you a list of your credit rating whos checked how many times etc

You can order reports in print for £2.00 statutory fee - not £10!

Jo xx

BWZN93

Also - With student accounts - you MUST pay in your student loans or parental support to that account, which is why you can only have one - and is in the T&C's. You will be asked about bank accounts etc, and it is fraud to lie and say you currently dont have one.

Banks are giving interest free overdrafts with student accounts, and invariably, students run out of money and figure to go and get another. The problem arises however is when they see no income going into the account - all student accounts are periodically checked for credits - and they will stop your account when no credits are going in. I know this as I worked for Natwest Student Banking Team - and did all fo these things.


Of course, a bank is a business and why should they lend a grand to someone who is using the account for the money at 0% - and nothing is coming in. Beware, Ive had freinds pulled up on it too. And also - you have to pay it back after uni, usually within 1 year before you start getting charged, and this will be no easy feat on the appalling wages new graduates get.

Jo xx

braken2000

im starting to think 'why should i bother going to uni' now. i will be putting my student loan in one account and my wage / income in another, both accounts will be used regularly and i am only using one to pay my rent of in termly allowances, allowing my to pay it back easier over the term, so by the end of term i will break even. If they say i have broken terms and conditions i will claim ignorance and say they did not point this fact out to me, it is not clearly stated in theirs (Natwests) or Smiles T&C's. Thank you for your help tho.

Savvy_Sue

braken2000 wrote:

im starting to think 'why should i bother going to uni' now. i will be putting my student loan in one account and my wage / income in another, both accounts will be used regularly and i am only using one to pay my rent of in termly allowances, allowing my to pay it back easier over the term, so by the end of term i will break even. If they say i have broken terms and conditions i will claim ignorance and say they did not point this fact out to me, it is not clearly stated in theirs (Natwests) or Smiles T&C's. Thank you for your help tho.

Well I seem to recall that Smile don't object to you having more than one student account, but can't be sure.

I don't see they can object to you having more than one account per se, it is the having of two different STUDENT accounts they seem to object to. Plus I don't see how you can say it is not clear in their T&C, it has come across clearly enough in the research Martin has done!

Indeed, why should you bother going to uni? It is not the be-all and end-all of life. But if you WANT to study your chosen subject, WANT to go to that place, WANT to work hard and have fun, then do it. Don't just do it because that's what Mr Blair wants half the population to do! He's been wrong before, you know!

braken2000

Well the whole givin up idea just popped up. Feelin a bit emotional at the mo, selling house and goin to uni. I understand there is a 'rule' that concerns two accounts. But if the bank did not tell me or clearly states then i will play innocent. It is their fault for not stating it.