New Students Bank Help

Blackstar

Blackstar

Blackstar

Soldato
Joined
8 Jan 2005
Posts
3,062
Location
Edinburgh
I'm very bored and had to do it anyway so i've been looking at student bank accounts and thought i'd save some of you some time by giving a quick summary of some banks.

Bank of Scotland
  • Interest free over draft - £1,750 in first year increasing for up to 6 years
  • 2% gross interest when in credit
  • Withdraw up to £300 a day
  • Debitcard avalible and £100 cheque guarantee (chequebook on request)

HSBC
  • Interest free overdraft - £1000 in first year increasing over time
  • Maestro debit card
  • Fee free mastercard 18.9% APR varible (optional)
    no annual fee
    £500 automatic credit limit
    8 weeks interest free credit
    No interest if balance is paid off in full monthly
  • Price promise (If you find a branded item which you have bought within a period of time for more than £10 cheaper then they will make up the difference)
  • Commision free travel money
  • Access to student financial advisor
  • Discounts from ASOS, BSM, RAC, Blockbusters, IWOOT and more

Natwest
  • Interest free overdraft - £1,250 first year increases
  • Debitcard (Solo) Creditcard (Maestro)
  • Mastercard 18.9% APR varible (optional)
    no annual fee
    56 days interest free
  • Student belongings insurance from £16
  • Money managing tips

Royal Bank of Scotland
  • Interest free overdraft - up to £2000
  • No fee creditcards
  • Possession insurance
  • Student finance advice

Halifax
  • Interest free overdraft - £1,750 in first year increases over time
  • 2% gross interest when in credit
  • 10% discount on travel explorer
  • Withdraw up to £300 a day
  • Debitcard avalible and £100 cheque guarantee (chequebook on request)

I've included links for more information :)
 
Nice one, I have my Student Account with Natwest as I was already with them and havn't used the overdraft facility anyway and don't plan to either :p
 
I'm with HSBC and their in bank service is pretty good I don't know about any other services they offer. They increased my overdraft to £1,500 for my final year but I've never used it. I also refused the credit card.

I'm pretty sure that when you finish Uni the overdraft isn't interest free anymore. So they might suddenly start charging you interest. I'm not 100% sure but I think that's the case with HSBC. Feel free to prove me wrong.
 
I reckon i will end up with HSBC it seems to have better rates and charges. Some of them allow you an extra year of overdraft when you graduate others don't.
 
I've been with HSBC throughout my 3 year course and they've been great to me. Overdraft's gone up every year by around £500 (not that I ever touch it), and the credit card is handy because if nothing else it's giving me some credit rating!
Plus their internet banking is great so I hardly ever have to go in the bank.
 
Personally im with Natwest, and im in my second year. My over draft in the first year was £1000 and now its been increased to £1250. I was given the meastro card (switch basically)

The overdraft is interest free.

I dont know if they are still offering the free 5 year student rail card or not, because that can be very handy indeed.

Im happy with Natwest, they havnt given me any reason to want to change bank account.

As a side note, i wouldnt recomment getting a credit card, but thats a personal choice really.

Woody
 
I'm with HSBC and they've been great so far :) didn't even complain when an eariler than expected bill sent my account the wrong side of my limit :o

and you can use their (superb) online services from your PC thus meaning you never have to head to the bank (unless you're paying in a cheque!)
 
woodsy2k said:
As a side note, i wouldnt recomment getting a credit card, but thats a personal choice really.
Click to expand...
Credit cards are fine as long as the owner of the card realises that they have to pay the money back and that it does NOT equal free money.
The problem is too many people are reckless and silly with their money.
 
I went with Natwest as at the time they offered the largest overdraft.

They say the student overdraft will increase up to £1,750 in the 3rd year IIRC, but I know people that have had £2k+ out of them, so they seem quite happy to give a little more if you really need it.

Once I'd finished uni they also converted my student account to a graduate account, giving me an interest free overdraft for a further 3 years (so 6 years in total) - 1st year: £2,000, 2nd year: £1,000 and 3rd year: £500.
 
I'm with HSBC - who gave me a nice £50 for sticking with them.
They've been great up until today - they have changed their online banking system without informing me :\
 
Willjt said:
They've been great up until today - they have changed their online banking system without informing me :\
Click to expand...
Have they? Doesn't look any different to me? :confused:
 
I would suggest Barclays or HSBC and stay away from halifax, they are the spawn of the devil.

KaHn
 
Get one of each, milk them for every freebie and offer available and continue using whatever banmk account you currently use...thats what most students do adn in my experience it worked a treat :)
 
Cheers Blackstar :)

Think I will go into Natwest this week and explain to them what I want. Besides... my bank lady is quite hot. ;)
 
Tob3z said:
Cheers Blackstar :)

Think I will go into Natwest this week and explain to them what I want. Besides... my bank lady is quite hot. ;)
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I don't know if my banker is hot lmao.
I shouldn't have found writing banker as funny as i did
 
I used to be with HSBC whilst I was at college, but they ended up really cocking me around so I switched over to Barclays. The staff at the local HSBC that I used were almost 'bot-like', constantly talked down to me (probably because im student :p) but generally weren't all that helpful when I needed to discuss things. They also blocked me from using my debit card a grand total of 4 times in 3 months, even though the account was in credit. The fourth time I was in Oxford for the weekend (I live in Birmingham) and they blocked the card so for that Saturday and Sunday I had no money. They then called me on Tuesday to say that they had blocked my card because they thought somebody was using it for fraud :D. I think I'm the only one who's had problems with HSBC though, all my friends seem to think they're good.

Barclays are very helpful whenever I walk in. The student team at the branch closest to me are always keen to sort things out whenever needed, only quiff I have with them at the moment is that they won't increase my overdraft to the advertised £1000 as I haven't been with them long enough, but thats not too much of a problem for me as I don't really go into the minus that often.

Out of the two I'd recommend Barclays.
 
spirit said:
ta, useful, but i would have been more swayed by the free stuff they give - railcards etc etc :)
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I already have a railcard, its only £20 a year. Theres a load of free stuff with HSBC which is pretty cool.
 
Barclays:

* £200 interest-free overdraft on account opening, with further interest-free limits available up to £2,000
* Withdraw up to £300 a day
* Visa Debit and/or barclaycard
* Online and Telephone Banking.
* Free mobile insurance for your first year
* National Express Discount
* Other discounts with a discount card (too many to list, 20% off places)
 
Slime101 said:
Get one of each, milk them for every freebie and offer available and continue using whatever banmk account you currently use...thats what most students do adn in my experience it worked a treat :)
Click to expand...

I don't think it's possible. If they find your student loan is not paid into the account they will remove the student privileges or close the account.

I'm with HSBC as well and find it ok.
 
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