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Natwest Student Account

Former MemberFormer Member Posts: 1,876,328 The Mix Honorary Guru
If you're thinking of opening one with Natwest for the coming academic year, I suggest you read this first.

I've had my student account all the way through my Fresher year with no problems - £1250 overdraft, and I only went overdrawn for 3 days in total (£25). No problems with any facilities, online banking worked fine, they even upped the limit on my student credit card.

I wrote a cheque out for my boyfriend to pay for the holiday we're going on - didn't have time to go get the money out of my savings account since I work full time, so thought I'd stick it on the overdraft and pay it off on one of my days off in a few weeks.

I *happened* to check my Internet banking to see whether my uni accommodation deposit had been returned, only to find that my cheque had bounced, and I'd been charged £30 for the honor. Also, I had NO overdraft facility on my account.

Went to the bank in my lunch hour today, and after 22 minutes was finally seen by someone. Apparently my overdraft limit had "dropped off" in MID-JUNE (while I was STILL at University). There was no record of a letter having been sent out to me to state this, although I apparently "should have recieved one at the time".

The woman was polite and agreed to refund the £30 and reinstate my overdraft to £1250.

However, she said that it's policy for students to have to go in and RENEW their overdraft in September (following a letter telling them to do so), as the facility becomes unavailable at the start of September (!!!!!!). This seemed REALLY dodgy to me so I phoned their helpline tonight and they said that nothing of the sort would happen - which I believe. :eek2:

Didn't get any compensation though, despite asking.
Also: had I been USING my overdraft facility during June while still at Uni, I'd have instantly been made penniless.
And: had I not written this cheque to my boyfriend from that account, I wouldn't have known about this until my cheque to my LANDLORD bounced :eek:

Obviously this is just a bank error (and I've never heard of it happening to anyone else, must be my badluck I guess :D) and Natwest ARE happy to sort it, but it's not the kind of hassle you need as a student (and I'm not entirely sure what the part about renewing it is all about...might be worth anyone who's thinking of opening a Natwest account asking). It's caused both me and my boyfriend a lot of unneccessary stress.

On the upside, anyone who opens one now geta a free 5 year railcard worth £100 :D

Comments

  • Former MemberFormer Member Posts: 1,876,328 The Mix Honorary Guru
    I closed my account with NatWest today and have opened my student account with Abbey. The service I had was appalling to say the least and the financial advice unhelpful.

    Abbey offer similair overdraft rates as the other banks but no freebies, however I have always been treated as a valued client as opposed to an anonymous customer.
  • Former MemberFormer Member Posts: 1,876,328 The Mix Honorary Guru
    They've always been very very good to me, obviously somebody fucked up. IT happens.

    If you're upset hassle them about it. It's the only way.
  • Former MemberFormer Member Posts: 1,876,328 The Mix Honorary Guru
    i liked hsbc's offer of a 5 year young persons railcard
  • Former MemberFormer Member Posts: 1,876,328 The Mix Honorary Guru
    I've always had a really good time with Natwest. Went overdrawn on my overdraft recently, and they didn't charge me, nice people :D
    I never had to renew my overdraft, that must have been a mistake. I'm with Kermit on this one, all companies/businesses make mistakes sometimes... I guess you were just unlucky.
  • Former MemberFormer Member Posts: 1,876,328 The Mix Honorary Guru
    if lloyds tsb's student account is even half as good as their graduate account, i'd go with them.

    £100 railcard ain't got nothing on them.
  • Former MemberFormer Member Posts: 1,876,328 The Mix Honorary Guru
    lloyds offered me jack :P
  • Former MemberFormer Member Posts: 1,876,328 The Mix Honorary Guru
    Originally posted by MrG
    lloyds offered me jack :P

    you must suck :p

    i got a free european flight, interest free overdraft for 3 years after graduating, free AA breakdown cover, free travel insurance, free mobile phone insurance, cheap contract phone deal....

    all in all worth a hell of a lot more than any other bank offered me.
  • Former MemberFormer Member Posts: 1,876,328 The Mix Honorary Guru
    I've just opened a Natwest student account as I'm starting a HND course.

    All seems fine, but I wasn't allowed the 5 year free railcard as "it wasn't my first year of higher education", aka. HNC, yet if I had applied during my first year it wouldn't have been eligible as "they don't tell you it's a course of higher education until the second year". However, on looking at other student accounts, many accept HNC courses including HSBC.

    I feel Natwest have been most unfair and I will be changing banks when I embark on a degree course, out of principle more than anything.

    Anyone know if any other banks have the "first year of higher education" lark with their freebies?
  • Former MemberFormer Member Posts: 1,876,328 The Mix Honorary Guru
    natwest asked me to produce a letter proving my course was real and that i had registered on it

    i was most pissed off cause i would want a student account before i had the cheque from the SLC to put in it
  • Former MemberFormer Member Posts: 1,876,328 The Mix Honorary Guru
    Never had a problem with NatWest, only gripe is that they won't let me have the 5yr railcard as i'm not a fresher :( Considering my parents live in Scotland that would have been damn useful.
  • Former MemberFormer Member Posts: 1,876,328 The Mix Honorary Guru
    *MrG dances around his 5 year young persons railcard

    :D
  • Former MemberFormer Member Posts: 1,876,328 The Mix Honorary Guru
    I'm told Natwest are crap. I'm not with them, though the times I've been in with my friend we've waited in the queue for 5-10 minutes.

    I'm with Royal Bank of Scotland - never had any problems and so I'l be staying with them when I open a student account. I don't think they offer any free things though. :(
  • Former MemberFormer Member Posts: 1,876,328 The Mix Honorary Guru
    Royal Bank of Scotland and NatWest are the same bank.
  • Former MemberFormer Member Posts: 1,876,328 The Mix Honorary Guru
    Originally posted by Kermit
    Royal Bank of Scotland and NatWest are the same bank.

    Then how come Natwest can't get anything right yet RBS seem lovely?
  • Former MemberFormer Member Posts: 1,876,328 The Mix Honorary Guru
    Originally posted by Kermit
    Royal Bank of Scotland and NatWest are the same bank.

    Well maybe it's my branch then, who knows.
  • Former MemberFormer Member Posts: 1,876,328 The Mix Honorary Guru
    I'm changing to HSBC for my student account, All i hear from people is that natwest is useless and for students they are not flexible with the overdraft but i dont think no bank is much better than any others
  • Former MemberFormer Member Posts: 1,876,328 The Mix Honorary Guru
    HSBC has had a cracking student account for the last 10 years + so they're who I'd go with, and indeed did go with. Also Halifax but only because I just changed the current account I had with them.
  • Former MemberFormer Member Posts: 1,876,328 The Mix Honorary Guru
    So are all banks the same with the "first year of higher education" freebie rule?
  • Former MemberFormer Member Posts: 1,876,328 The Mix Honorary Guru
    Originally posted by Neil
    So are all banks the same with the "first year of higher education" freebie rule?

    How'd ya mean?
  • Former MemberFormer Member Posts: 1,876,328 The Mix Honorary Guru
    Originally posted by Kath2003
    Then how come Natwest can't get anything right yet RBS seem lovely?

    Staff.

    RBS own NatWest.

    Don't go with HSBC, just don't. They are thieving scum, even worse than all the others.

    NatWest can be a bit inflexible with overdrafts, but they have never been nothing but excellent with me and GWST.
  • Former MemberFormer Member Posts: 1,876,328 The Mix Honorary Guru
    Originally posted by BlackArab
    Abbey offer similair overdraft rates as the other banks but no freebies, however I have always been treated as a valued client as opposed to an anonymous customer.

    Kinda ironic considering Natwest's adverts at one time.
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