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Best Student Bank Account
Former Member
Posts: 1,876,323 The Mix Honorary Guru
I am going to Uni in 3 weeks time, can anybody advise/recommend the best Student acount with an overdraft of about 1k? I understand you get extras like HMV vouchers or extra cash...
Also, I am not going with Barclays - they always fucking up the family accounts and friends'.
Thanks, adios
Also, I am not going with Barclays - they always fucking up the family accounts and friends'.
Thanks, adios
Post edited by JustV on
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Pretty good with overdrafts and credit cards too.
Also, consider applying for an instant access ISA. These have really good interest rates - get info from your bank.
Does anyone know ihow long the discounts (HMV and Waterstones) with the RBS account last for (or are you just given vouchers)?
Can anyone who has had experience with these accounts tell me how they've found them so far, to help me decide?
Thanks
When you're first going to uni, all the gizmos that the banks offer you seem attractive but look carefully: what are they offering beyond the fancy free gift? A few of my friends have had a lot of bother with HSBC (poor customer service for one) and Natwest have crap interest rates.
If you want a no-nonsense bank account that you don't have to think about, then the Halifax is a good option. True, they don't offer any free gifts or money, but they are a solid option. The Royal Bank's Royalties scheme isn't quite as good as it seems. To get the discounts they offer, you have to know what you want a phone up a special number to order the goods - not quite as handy as flashing a card in a shop.
http://www.corporatewatch.org.uk/magazine/issue1/cw1cu.html
I know there are many student unions/ shops/ bars etc. that don't accept Lloyds or HSBC debit/credit cards.
MMMMM i work for natwest well just amke sure your loan gets paid into the account if not get on the phone and speak to me!!!
Ok again i work for Natwest and well they and RBS have integrated(in the process now) so they'll be virtually identical! The vouchers last till the end of the year (as far as im aware but saying that they lasted till Jue last year!
Any other details needed ask me! Im going to Barclays after my gap year i think but..... have re-considered!!!
You pay interest? I am with Natwest and I don't pay any interest on my overdraft facility at all.
I got £40 when I opened it last year, a switch card and an overdraft facility which is set to as much or as little as you want (up to about £1000 in the first and second year).
I really like bacnking with them because they're always really helpful when I go in and extend my overdraft, hehe.
You don't want to go with short term gimmicks and money off vouchers, you want to look at what you get over the three years, and what happens once you graduate. Natwest convert your account into a graduates account and you can still have interest free overdraft facilities, which is pretty neat, although you have to remember that you have to pay it back!
Also, look to see if they have a student branch at your university, Durham has a Natwest in the student union so it is pretty handy for me!
I think he means the interest rate that you get if you leave your money in your account.
In which case isn't 2% quite low anyway? I get 4.2%.
They made this mistake of about £4.5 grand and sent me into red and then said it wasn't their fault...
They did that to me too, it was only £300 but still left me around £270 in the red, and I've only recently paid it off...
Natwest offers Current account 0%
Current Plus 0.1%
Advantage Gold 0.25%
Anyone know of any hassle free banks who don't mind how long your course is?
One solution could be to switch accounts after the first year because it sounds like you'll be starting what seems to be a conventional course - perhaps they might offer you a student account then.
Another note, not completely connected with this argument is that a report recently suggested that the smaller banks offer better deals than the larger ones such as Barclay and LloydsTSB. Stands to reason I guess because they are recognisable "brand names" if you like and the smaller banks are trying to make a name for themselves. The downside is that there aren't as many branches around, although you could try an internet bank such as Egg or Smile.
You're considered a part-time student if you do a one year course so they can't do anything till you begin a two year + course. So art foundation etc. don't count! All banks have the same policy unless you ahve a guarentees place but even then you'd be pushing it.