Spec me a...student account!

peteruk

peteruk

peteruk

Associate
Joined
27 Jan 2005
Posts
1,013
Location
Nr. Norwich, Norfolk
Dear OcUKers,

I'm off to start an epic 5 year course in Engineering Design very shortly.

While I won't be rolling in cash, I've managed to be relatively frugal up to this point so envisage myself scraping through uni without needing to be nationalised by a billion pound bail-out. But, I'm only going to be a student once (or twice) so figured it would only be wise to check out student accounts just to see what's on offer.

So, if those who have been there and done that (either a few weeks ago, on many a year) could share their views on them, whether they're worth their weight in gold or nothing to write a book about, I'd be very grateful. If they're worth pocketing, who would you suggest going for?

Unfortunately I've already purchased a railcard, which I know is a common incentive for a lot of student accounts.

Ta for any pointers :)
 
Last edited:
Barclays or Lloyds TSB. Check their websites, but IIRC both offer a minimum of £1,500 interest-free overdraft (subject to credit check) and extras like student discount cards.
 
I have both a Halifax account and a NatWest account. Halifax for the higher interest rate, big overdraft and an enormous £1000 limit credit card (wtf!). NatWest for the free railcard.
 
r3loaded said:
I have both a Halifax account and a NatWest account. Halifax for the higher interest rate, big overdraft and an enormous £1000 limit credit card (wtf!)
Click to expand...

£1000 isn't that much, I remember mine being raised to £3500 and I'd never gotten near the limit in the first place :confused:
 
I thought you were only allowed one student account at any one time? At least that's what I was told when I signed up for mine...

I'm with Natwest - overdraft of £1250 in your first year, think it increases by £250 each year, student credit card and a free young person's rail card which has proven to be VERY useful :)
 
Natwest are getting funny with me.. :/

Fair enough, I applied for the overdraft in my final year and withdrew £1300 in cash, followed by another £300 cash a few days later.

And I haven't used the account since.

They're now threatening to remove my overdraft facility and make me pay it all back if they don't see activity on the account.

I don't see the big deal, I'm not going to be using them after I've paid it off (which will be on time). I guess their idea is to use it to bring in long term customers?
 
r3loaded said:
I have both a Halifax account and a NatWest account. Halifax for the higher interest rate, big overdraft and an enormous £1000 limit credit card (wtf!). NatWest for the free railcard.
Click to expand...
Both Halifax and NatWest have conditions on their student accounts that they must be used as your primary account and any educational financing such as student loan, parental contribution, etc. must be paid into it on a regular basis.

Therefore how have you managed to get two student accounts with separate banks?
 
Chris1712 said:
Anyone but NatWest. Horrendous bank, customer service rivals Virgin Media in its mediocrity.
Click to expand...

I'm going to disagree with this I'm afraid, got nothing but praise from their customer service. I had a few problems at first getting my rail card, but they sorted it out no problems and have always been great whenever I've gone into a branch.

The only conditions they had set were to see a regular usage, so long as there were a few transactions going in and out each month that was fine.
 
Al Vallario said:
Both Halifax and NatWest have conditions on their student accounts that they must be used as your primary account and any educational financing such as student loan, parental contribution, etc. must be paid into it on a regular basis.

Therefore how have you managed to get two student accounts with separate banks?
Click to expand...

I put in about £10 every 3 months or so, and later withdraw the money as needed. No complaints from them, and I get my railcard every year ;)
 
Natwest have been really good for me, £1250 overdraft increasing each year, credit card (not a particuarly good one but if you have no credit history you're not gonna get a better one) and a railcard which has saved me a fortune. Their online banking facility is really good too.
 
Are you allowed to get one at Barclays while still having another current account with them. I have no need for an overdraft, but if I can use the interest free overdraft and put it all in my ISA, then that would be nice. Anyone else had any experience with doing this?
 
I'm with Halifax. £3000 interest free overdraft, and you kept to keep it interest free one aditional year after you graduate which might come in useful. £1000 limit credit card available too.
 
weringo said:
Natwest have been really good for me, £1250 overdraft increasing each year, credit card (not a particuarly good one but if you have no credit history you're not gonna get a better one) and a railcard which has saved me a fortune. Their online banking facility is really good too.
Click to expand...


Exactly the same here. No probs what so ever :/
 
I use ulsterbank as its local, best thing to do is pick one thats local to uni (makes things a lot easyer than walking or in my case flying back to get it sorted, rbs dont oporate in ni).

Most are pretty similar either way
 
DO NOT under any circumstances consider RBS, I was with them as a student and they made mistake after mistake with my account.
 
sr4470 said:
Barclays or Lloyds TSB. Check their websites, but IIRC both offer a minimum of £1,500 interest-free overdraft (subject to credit check) and extras like student discount cards.
Click to expand...
Barclays do NOT give you that straight off. You have to keep applying and if you have 1p in a savings account, it cancels the application.

I'm with HSBC, Natwest and Barclays. HSBC are the most flexible in all regards. Natwest the best overall, though. Barclays are fascists.
 
You must log in or register to reply here.
Back
Top Bottom