If you need urgent support, call 999 or go to your nearest A&E. To contact our Crisis Messenger (open 24/7) text THEMIX to 85258.
scholarship / natwest student account
Former Member
Posts: 1,876,323 The Mix Honorary Guru
i just recieved a £6000 scholarship to my uni!
i know i'm in a very fortunate position now and after setting up my student account with natwest i'm wondering if another account would be more suitable... perhaps a higher interest one? at the moment, my student loan is being paid into my halifax current account, but i could always move it to the natwest one if necessary.
i know with hsbc you have to say that it will be your main account. is this also true of natwest, or can i just keep it going on £0 ?
i want to earn some interest on my loan money... but don't know which type of account is best, and who offers the best interest rates. i already have an ISA so i can't get another one.
does anyone have any info on this sort of stuff? i am hopeless when it comes to finances!
i know i'm in a very fortunate position now and after setting up my student account with natwest i'm wondering if another account would be more suitable... perhaps a higher interest one? at the moment, my student loan is being paid into my halifax current account, but i could always move it to the natwest one if necessary.
i know with hsbc you have to say that it will be your main account. is this also true of natwest, or can i just keep it going on £0 ?
i want to earn some interest on my loan money... but don't know which type of account is best, and who offers the best interest rates. i already have an ISA so i can't get another one.
does anyone have any info on this sort of stuff? i am hopeless when it comes to finances!
Post edited by JustV on
0
Comments
I have always found Natwest to be very very helpful.
Q1. Are you allowed to hold two student accounts at once? or is it like an ISA?
Q2. The scholarship money (£2000 a yr) will be going towards my accomodation (£2400 a yr) so basically it's all going to be gone by october when they make the withdrawal from my account. Could i keep an account going, even though i didn't have a massive amount going into it? I could always get my wages paid into a new one, like HSBC, as you suggested, and maybe transfer the money that my dad is giving me.
Q3. does the loan come in termly installments?
Q4. is HSBC really better when it comes to student accounts? Natwest offered me a £60 incentive, HSBC offered only £50.
Q5. i'm scared that if i don't pay my loan money or something into natwest i'm going to be breaking some sort of contract :S
I could give you the big chat buttttttttttt i won't put you through that. Go to natwest and arrange a customer service review. They'll understand your situation and suggest the best options.
I have an Egg savings account though and have a very high level of interest which is great!!
A good idea is to set up 2 accounts. A student account and an ISA.
Set up a standing order so that each week £25 goes into the ISA from your other account.
After a few weeks, if you find yourself struggling for money, you can look in your ISA and find you have £300 odd quid in there that could really help.
nationwide e-savings or isa is also good
and if you want free cash go to abbey national (£40), hsbc (£50) and natwest (£40 and £60 at some branches), open all three accounts to pocket £150 and either keep a bit of money moving in and out or close them down using the afore-mentioned dumb-blonde tecnique
they probably won't notice anyway and if they do they won't care, everyone does it
£40 for non student cities and £60 for student cities (how they define them god knows!!!!) But it was in my work quiz!!!