Student Bank Account Warning!!!

Former Member

I know that I might be an exception to the rule and lots of you might be happy with NatWest, but it truly is the worst bank I've ever used!!!
So far they've accidentally sent my card and chequebook to the WRONG ADRESS and I lost over £100 in fraud (refunded after weeks of police investigations) - I phoned up to complain and they cut me off like 10 times in 3 days - the staff are rude and unhelpful and I was refunded a crap £10 for their mistake!
I'm changing to Barclays. Even though theres a Natwest on campus I will never go in there again!
They've been rude and made mistakes with at least 5 people i know and they're always being b*llocked by our uni for it.

On the other hand the people in Barclays are helpful and nice and professional. Anyone agree/disagree?

Kits xxx

Former Member

I agree with you about Natwest. A mate of mine said they were bloody useless.

Former Member

Argh....I'm just about to open an account with Natwest!!

however, my parents bank with them with no problems and my brother had his student account there..it'll make things easier to transfer money between accounts etc, so i think i'll just take the risk and hope I have a better experience than you!

The people in my home Natwest branch are all fine..will have to see about Bristol ones!

Glad you've found Barclays better anyway...I'll take my chances with Natwest!

Former Member

Well I've been with Natwest for 3 years now and they've been fine for me. I found them to be the most helpful of all the banks I did the rounds of when choosing. They actually explained things so that I understood, instead of just shoving leaflets at me (like HSBC did )

I know people who've had problems with them, but mostly it was their own fault for getting into too much debt.

Former Member

I disagree based entirely on my own experiences and that of everyone I know who banks with them. There are "horror stories" from every bank and what occurs with someone else would not put me off banking with which ever bank I choose.

They are always understanding when I ask for an increase in my overdraft facilities.
The counter staff are always polite and helpful and call me "Miss Turnbull"
No question seems "too stupid" (I ask some really dumb things!)

My boyfriend's mother was in there recently with an advisor for overtwo hours and they were so helpful and chatty.

Neh, I disagree, but only based on what I have experienced.

Former Member

I was about to open my Student account with HSBC because I'm sooo tempted by the five year free Young Persons Railcard!

Does anyone recommend them or have you had difficulties with them?

Former Member

Natwest are shite! They wouldnt give me anymore than a 500 quid overdraft on my student account over the whole 3 years I was at Uni! Despite the fact that all the other banks give loads. When I asked why the reason they gave me was that it was because I had gone over the overdraft that i already had....well yes, that was why I wanted it raised! :rolleyes: The only reason I needed it was so that rent cheques wouldnt bounce and so I could actually buy food on the few days before pay day when I had no money left! So yes, don't bank with them - Smile.co.uk are much better :yes:

Former Member

ive never had a student account, ive always used my nationwide current account and e account (more interest), but i thought i was gonna be in sh*te this year finances wise and need an overdraft and looked at student accounts, i was looking at an hsbc one because a guy at where i did my placement said his 2 sons had had them and done well

perhaps i shoulda got one for the free stuff, just could never really be arsed

Former Member

I wouldn't go for Natwest and although im a staff member i certainly wouldn't recommend them (All they're interested in is to sell sell sell). Im going with HSBC now. They were happy to explain bits to me, gave me the book to take home and any queries all i needed to do was ask. I like working things out for myself rather than someone telling me how to use things (im not dumb you know)

To be fair im not going to use it but i want the benefits and as previously said.... nationwide everytime.

Plus since ive put my notice in with natwest they've been real bastards to be. :mad:

Former Member

Originally posted by Kat
I wouldn't go for Natwest and although im a staff member i certainly wouldn't recommend them........

Plus since ive put my notice in with natwest they've been real bastards to be. :mad:

I wonder why....!!!!

Like I say, everyone I know banks with Natwest... EVERYONE. And not one person I know has ever had a problem with them. My local branch is great, they are friendly and I've never seen this "sell, sell, sell" side of them.

Former Member

Originally posted by Kat
I wouldn't go for Natwest and although im a staff member i certainly wouldn't recommend them (All they're interested in is to sell sell sell). Im going with HSBC now.

I'm with HSBC but i'm not in uni yet. They made some mistake about cheque clearance times. Luckily my dad's a banker so he knew that they had gone wrong.

Otherwise i would have been charged for the cheque bounce and some other fees too. But other than that and crappy interest, they're not bad.


What am i supposed to look for in a student bank? High overdraft, high interest rate, freebies??? I heard Halifax have a good interest rate, so i might stick my loan in there.

Former Member

Originally posted by strawberrychild
I'm with HSBC but i'm not in uni yet. They made some mistake about cheque clearance times. Luckily my dad's a banker so he knew that they had gone wrong.

Otherwise i would have been charged for the cheque bounce and some other fees too. But other than that and crappy interest, they're not bad.


What am i supposed to look for in a student bank? High overdraft, high interest rate, freebies??? I heard Halifax have a good interest rate, so i might stick my loan in there.

Wasn't it you saying they sent you into the red and didn't do anything last year?

Former Member

I'm with HSBC and I've had no problems at all, I would definitely recommend them. The free railcard is so useful, ir you're moving away fom home and don't drive (or aren't taking a car) it's very beneficial to have a railcard. At first I just thought, well, it's only saving a third so it's not really that great, but it's saved me sooooo much money this year. I forgot to take it with me one time and ended up paying more for a single than I usually pay for a return with my railcard.

I think the freebies you get when you open the account are quite a good incentive, but I think really what you want to be looking for with student accounts are banks with good overdraft facilities. I haven't actually used mine yet, but it's good to know it's always know it's there in case I need it, and HSBC have increased mine now I've been with them a year.

Former Member

I opened mine with HSBC yesterday and I'm waiting for everything to come through...

... However, a naughty part of me wants to open an account with each bank and take all the incentives - illegal?!

Former Member

Originally posted by Neil
Wasn't it you saying they sent you into the red and didn't do anything last year?

Not that long. I was to put a cheque in for lets say £300 in a bank which already has say £20. And i want to withdraw that £300 and put it into a Savings thing, say Standard Life.

HSBC took a bit long to clear the cheque...think it was one day more than norm, and thus when withdrawing £300 from an account with only £10 is not good.

SO i go into red, the cheque gets bounced etc etc.....

But they put it right in the end, so it was okay.

Former Member

Originally posted by Alan

... However, a naughty part of me wants to open an account with each bank and take all the incentives - illegal?!

I think most banks have small print which say that their's has to be the only student account you have in order to get the incentives and interest free overdraft etc.

Guess it's worth looking into tho.

Former Member

Originally posted by Alan
... However, a naughty part of me wants to open an account with each bank and take all the incentives - illegal?!

Yes it is illegal, and a friend of mine who is with Lloyds TSB was warned by her bank that if her loan money did not go into that account then they would close her account. She did not apply for a loan, which she told them, and they closed her account, basically because she was not giving them anything back!

Many other places will check to make sure that your loan money goes in. I have had to tell my bank that I have not applied for a loan this year (I have actually withdrawn from university) so that they do not withdraw my overdraft facility.

Former Member

Found this website which has a table comparing some of the major banks and their student accounts. Hope it's of some help!

http://money.msn.co.uk/Student/BankingandFunding/StudentAccountsHome/Info/StudentAccounts2003Table/

Former Member

I don't recommend Nationwide either. I was quite pro-them until today when I actually needed to sort something out. I made an appointment with them for 2 today so I went along and found they hadn't made one. So then this cashier had to explain it all to me and whenever I asked her to repeat something gave me a look like I was thick. Then she just shoved a leaflet at me and told me to go off and read that.

So now I'm looking for a new bank....

Former Member

I've just signed up with nat west today for my student account. I've heard of folks with problems but hey I can always change so it doens't worry me.

HSBC have always been great with me but I didn't want to loose my current account with them by transfering it back to a student account. I'd have no overdraft as a student that way since It's already completely in use.. pmsl.

Nationwide aren't very helpful it des have to be said. But I got all my savings with them cos they do have the best rates. I only got 4 accounts with them at the mo. pmsl.

Former Member

Originally posted by Alan
I opened mine with HSBC yesterday and I'm waiting for everything to come through...

... However, a naughty part of me wants to open an account with each bank and take all the incentives - illegal?!

Well...me's thinking this too.