Home Work & Study
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.

Best Student Bank Account

Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
edited March 27 in Work & Study
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
Post edited by JustV on

Comments

  • Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    The only ones that I have seen are the ones that UCAS have sent and that my Uni have sent. Best so far though looks like the Royal Bank of Scotland. *reminds himslef to sort out bank details.*
  • Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    I am with natwest, I got £60 cash when I joined, up to £1000 overdraft and a switch card.
  • Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    HSBC give you 50 quid or a 4yr student railcard, which has saved me a fortune!

    Pretty good with overdrafts and credit cards too.
  • Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    Originally posted by Mr-Tickle
    HSBC give you 50 quid or a 4yr student railcard, which has saved me a fortune!

    Pretty good with overdrafts and credit cards too.
    Don't start me on HSBC..... they screwed me to the tune of £300, and because I don't have written proff there is fuck all I can do about it.
  • Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
  • Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    I searched for ages - best one seems to be Royal Bank of Scotland's "Student Royalties" account.
    Also, consider applying for an instant access ISA. These have really good interest rates - get info from your bank.
  • Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    I'm trying to decide between the Royal Bank of Scotland and the Natwest account.
    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
    :)
  • Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    With Royal Bank of Scotland I think they're discounts if you buy over the phone through the bank's supplier. But they are a good account, decent interest rate, helpful, and I've never had any problems with them.
  • Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    Does anybody have a Lloyd's account?
  • Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    Ive gone with HSBC because of the 4year railcard and had really helpful staff and I couldnt see much difference with rates of interest etc with other accounts. I bank with Royal Bank Of Scotland at the moment and I think they are crap.
  • Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    I've been with the Halifax for ages an they've been fine. I have an overdraft of £1000 (£1250 max I think) and the interest rate is better than a lot of the student accounts (2% ish).

    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.
  • Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    If you're at all interested in third world debt you should look at the following under LAMB (Lloyds and Midland [HSBC] Boycott):

    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.
  • Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    Originally posted by PussyKatty
    I am with natwest, I got £60 cash when I joined, up to £1000 overdraft and a switch card.

    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!!!
  • Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    Originally posted by Roberta Carlos
    I'm trying to decide between the Royal Bank of Scotland and the Natwest account.
    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
    :)

    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!!!
  • Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    Originally posted by The Philosopher
    and the interest rate is better than a lot of the student accounts (2% ish).

    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!
  • Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    Originally posted by BumbleBee
    You pay interest? I am with Natwest and I don't pay any interest on my overdraft facility at all.

    I think he means the interest rate that you get if you leave your money in your account.
  • Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    Originally posted by Jono_H


    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%.
  • Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    Some other current accounts are very paltry, like 0.5% or something..
  • Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    HSBC is a knob when it comes to students.

    They made this mistake of about £4.5 grand and sent me into red and then said it wasn't their fault...
  • Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    Originally posted by strawberrychild
    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...
  • Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    Originally posted by Jono_H
    Some other current accounts are very paltry, like 0.5% or something..

    Natwest offers Current account 0%
    Current Plus 0.1%
    Advantage Gold 0.25%
  • Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    Do you get commission for selling online, Kat? ;)
  • Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    N0!!!!!! they should though. Maybe i'll put that as a suggestion in the suggestion box. (someone put in "can we have stirers for the drinks machine" they got £1000 for it)
  • Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    The bank will no give me an overdraft because it is only a 1 year course which leads onto 3 years - I am still going to England to study though.

    Anyone know of any hassle free banks who don't mind how long your course is?
  • Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    You could try telling them your situation but I think most banks want the security of a student doing a 3 or 4 year course so they don't do a runner after a year.

    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.
  • Former MemberFormer Member Posts: 1,876,323 The Mix Honorary Guru
    Originally posted by young-blood
    The bank will no give me an overdraft because it is only a 1 year course which leads onto 3 years - I am still going to England to study though.

    Anyone know of any hassle free banks who don't mind how long your course is?

    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.
Sign In or Register to comment.