Student Bank Accounts -which ones are best?

Former Member

Hey

I remember there being a topic on this ages ago, but I can't find it.

Basically I'm wondering which one is best. I heard HSBC gave you a free railcard, but I just checked their site and apparantly that offer closed in October last year- how annoying!

So does anyone have any advice on which student bank accounts are the best?

Former Member

natwest gave me £60 for opening my account and I have £1500 interest free overdraft. They do moan a bit of you don't use the account though. Give you a switch card too.

Former Member

I think they close the deal soon after term starts cos the only thing they want is your very large student loan and I also heard that the gov pays them to give us overdrafts, all banks seem to do this though! They will prob do a nice little deal next august, why do you need a student bank account now though>????

Bopz

Former Member

Originally posted by Bopperz
I think they close the deal soon after term starts cos the only thing they want is your very large student loan and I also heard that the gov pays them to give us overdrafts, all banks seem to do this though! They will prob do a nice little deal next august, why do you need a student bank account now though>????

Bopz

Oh well I'm just looking into it. I replied to UCAS with my firm and insurance offers, and they sent me back forms for an HSBC Student account, and it got me thinking... just wanted to know if there were any better student accounts out there than HSBC, or whether I should just join them...?

Former Member

with HSBC i got a railcard (5 year one) or a choice of £50 if i remember right, £1000 interest free overdraft, switch card and mastercard
Im not sure about other accounts i have a friend who is with nationwide and she said its pretty good

student accounts summary

Former Member

Oh well I'm just looking into it. I replied to UCAS with my firm and insurance offers, and they sent me back forms for an HSBC Student account,

I got these forms as well, but quickly skimming through it, i thought that was for a credit card, not a debit card? I'd only want a debit card, and I hope HSBC haven't withdrawn their railcard, as I was going to go with them for that, and because they seem to provide better customer service than Natwest who I have atm.

Former Member

Originally posted by Luce
I got these forms as well, but quickly skimming through it, i thought that was for a credit card, not a debit card? I'd only want a debit card, and I hope HSBC haven't withdrawn their railcard, as I was going to go with them for that, and because they seem to provide better customer service than Natwest who I have atm.

well yeah thats what i was thinking, but i went onto their website and it says that the railcard offer finishes 11/10/03!! I'm hoping they might start it up again maybe, for people going to uni next year? hmm i might contact them....

Former Member

last time i spoke to someone at HSBC about upgrading my account to a student account they said that they would offer the railcard so i assume they offer it each year, plus it sobviously better than a one off payment of £50

Former Member

If you live a deacent distance away from your home town and use it a couple of times a year to go home you can easily save £50, plus youll just spend £50 on crap wen a railcard lasts for something like 5 years!
I get 1/3 off going home so thats about £7 each trip, then about £3 - £4 wen going to london so its working like a treat already

Bopz

Former Member

I upgraded my account about a week before going to uni and I kept the same account number so it wasnt a problem. I was looking thrugh my old UCAS stuff ovcer Easter and I have at least 3 forms askin if my bank details are correct. You can always change them at the last minute, just live on your overdraft till you can be arsed to cash the cheque!

Bopz

Former Member

Although you're not meant to, etc etc.. you can have more than one student account. Hence why I have one Barclays one (book vouchers) and a HSBC one for the railcard, that I've never used(the account that is, the railcard comes in quite handy!). I was even cheeky enough to go in about four months after I opened the account to get the railcard. But I know people with accounts with every bank account in order to get all the freebies, I know it's cheeky but we're poor students so it's allowed!

Former Member

One thing that we have been told to do is to check that the bank u choose to have your student account with has a branch near your uni. That way if you have a problem you dont need to trek a long way to sort it all out, or to put cheques and other things into your account.

Former Member

Internet banking is the way forwards, might not help with cheques, but you can always just use bank transfers instead!

Bopz

Former Member

I got all the HSBC stuff and was really annoyed to see the railcard thing no longer applies, I assumed they did it every year, I was going to choose them simply because of that.

Former Member

I went with HSBC 4 years ago for the railcard and I know they've offered it every year since so I'd be surprised if they changed that. But it is a bit early still for all the banks to have really decided what their student packages are going to be this year.

I'm with natwest now though, purely because I didn't want to lose my current account with HSBC and £700 extra overdraft I have on there for my own peace and security.

Natwest have made a few mistakes though, like when I asked to have my overdraft extended because I didn't take out the full 1250 to start with, then realised I was gonna need it over xmas to pay a couple of cheques I had going out. Went in to extend it she said itwas fine. Next thing I knew was my bro had the cheque bounce that I'd given him and me being charged £30 for the privaledge, however they were reasonable when I phoned em about it and I got that charge quahsed.

Former Member

Natwest are ok, I'm with them. I chose them as they had the closest branch to my house, although since I have internet banking now (which is very easy to set up ) , I only have to go in to pay in cheques. The only bad thing is that at my particular branch, there are a couple of people who haven't had much customer service training... including the woman who I asked to increase my overdraft.... honestly, you'd have thought I was asking her to contribute her own money towards it, the look she gave me! :mad:

Former Member

HSBC are good, for one particular reason.... you find yourself praying that something goes wrong, they stuff up somehow... if that happens, they give you money as an apology. my mum has made about sixty quid from just complaining...