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  • FIRST POST
    • Crumble_
    • By Crumble_ 5th Aug 18, 8:31 PM
    • 59Posts
    • 9Thanks
    Crumble_
    2 student accounts
    • #1
    • 5th Aug 18, 8:31 PM
    2 student accounts 5th Aug 18 at 8:31 PM
    Hi, just a quickie,

    The missus has applied to Santander for a student account but it states it has to be her main account g where money is paid into.

    Does anyone know or have experience of any other student accounts which donít require it to be the main account, so technically having 2 student accounts.

    Cheers
Page 1
    • Super Whiskey
    • By Super Whiskey 5th Aug 18, 9:09 PM
    • 203 Posts
    • 82 Thanks
    Super Whiskey
    • #2
    • 5th Aug 18, 9:09 PM
    • #2
    • 5th Aug 18, 9:09 PM
    Is this just to get the student overdraft?


    When they say 'main account' they mean it's where the student loan goes. Usually it's a way they can ensure you'll actually use the account on a regular basis and therefore be less likely to switch it when it no longer qualifies for the student benefits.
    • Crumble_
    • By Crumble_ 5th Aug 18, 9:20 PM
    • 59 Posts
    • 9 Thanks
    Crumble_
    • #3
    • 5th Aug 18, 9:20 PM
    • #3
    • 5th Aug 18, 9:20 PM
    Yes just for the overdraft.

    Santander offer the rail card. Others have other perks and a larger overdraft as the years progress
    • Super Whiskey
    • By Super Whiskey 5th Aug 18, 9:33 PM
    • 203 Posts
    • 82 Thanks
    Super Whiskey
    • #4
    • 5th Aug 18, 9:33 PM
    • #4
    • 5th Aug 18, 9:33 PM
    Then yeah most banks will want the student loan paid in to it which means that you'll only be allowed one student account.
    • Westie983
    • By Westie983 7th Aug 18, 9:44 AM
    • 4,572 Posts
    • 15,094 Thanks
    Westie983
    • #5
    • 7th Aug 18, 9:44 AM
    • #5
    • 7th Aug 18, 9:44 AM
    Things may have changed but many of the student account have stipulations in their T&C's stating that this is your only student account.

    It doesnt have to be the student loan that is paid into the account, but regular payments each term to qualify for the overdraft.

    Not all students are entitled to student loans so bank cant stipulate this is a requirement.

    I would think about what is more important to you and you are able to use more.

    Overdrafts are not guaranteed on any accounts including student accounts, and the amount you maybe offered may not be the same amount as viewed on websites.

    Overdraft are normally able to be increased as you progress through your years at university but again is not guaranteed, as it depends on the conduct of the account, so if you have "borrowed" the overdraft and not made many payments into the account you may find its not increased and could be reduced or withdrawn.

    Another factor to consider is how you are able to pay it off when you graduate as overdrafts are either reduced slowly as part of a graduate account, or you are swopped over to a standard adult account and pay the overdrafts fees associated with that bank.

    Westie983
    Save 12k in 2018 #10 Total (£25000)+£15300/£12000 = 127.50%
    Sealed Pot Challenge ~ 11 #97 Total (£410) + £40/£500 = 8.00% ( x 11)
    Xmas 2018 £1 a Day #2 Total £115.00/£365 = 31.50%
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    £2 Savers Club 2018 #16 Total (£1500)+-470/£2000 = 51.50%

    Total £17,685.00/£15865 = 111.47%

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