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Natwest Student Account
Former Member
Posts: 1,876,323 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 ) 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
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 ) 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
Post edited by JustV on
0
Comments
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.
If you're upset hassle them about it. It's the only way.
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.
£100 railcard ain't got nothing on them.
you must suck
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.
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?
i was most pissed off cause i would want a student account before i had the cheque from the SLC to put in it
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.
Then how come Natwest can't get anything right yet RBS seem lovely?
Well maybe it's my branch then, who knows.
How'd ya mean?
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.
Kinda ironic considering Natwest's adverts at one time.