Student banking

Adam · 24 Jun 2006 at 22:34

sr4470 said:
Dont ISAs have tax charged?

errr no. They are tax free which you can invest £3k a year in.

For the record, a student account is normally defined as the one which you have your student loan paid into. So its therefore not possible to have 2.

Indy500 · 24 Jun 2006 at 22:39

Adam said:
errr no. They are tax free which you can invest £3k a year in

Most student loans these days will be greater than £3k.

iBankAllDay · 24 Jun 2006 at 22:47

dboundy said:
I have two student accounts.

One with HSBC and a £1000 overdraft and another with Natwest with £1250 overdraft.

Both go up this year as well. £1250 and £1400.

As long as you realise you'll have to pay these amounts back, yeah?

As others have mentioned, you can generally only have 1 student current account (which will normally require regular funding). If you want another current account, that would be down to the individual bank concerned as to whether they can offer you one. You can also have as many savings or 'basic' bank accounts in addition to your main current account(s).

Atari · 24 Jun 2006 at 23:06

Co-Op Bank are offering a first year overdraft limit of £1400 which is the most of the major banks.

I'm with Barclays at the moment, but make sure you get your loan put into the account you're creating, otherwise you'll have some hassle getting them to give you your overdraft.