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Advice on Student Bank Accounts

Discussion in 'General' started by monkeyville, 26 Apr 2004.

  1. monkeyville

    monkeyville Evilish Monkey ++;

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    As title really :)

    I'm off to UMIST next year (if i get the grades) and i'm at the point where i'm applying for the student bank account. Firstly i need to choose a bank and at the moment i'm veering towards a HSBC account and secondly i need to make sure that the account i'm choosing is giving me the right kinda options. If anybodys got any advice on the banks and accounts i should be looking at i'd be very appreciative :thumb:

    I'd also like to make sure that the bank i do eventually go for has a branch on the UMIST campus or very close walking distance so anybody thats currently studying there please give me an idea of the banks that are present. :D (yes i did go on the open day but i was still hung over from a mates b'day the night before so its a bit hard to remember things like what banks there were :hehe: )
     
  2. MaxWiz

    MaxWiz What's a Dremel?

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    All the banks have pretty similar deals. Just go for the one with the best bundle of freebies on the day. The only thing I would say is that NatWest are a lot less understanding than the others, especially when it comes to bouncing checks/direct debits etc that would only take you a couple of quid over your over draft, then charging you £25 for the privilege!

    There a couple of banks across the road from UMIST NatWest and HSBC if I remember, but there are cash points in the union and the bar/shop does cash back.

    Max
     
  3. Guest-16

    Guest-16 Guest

    Actually you're not off to UMIST next year, you're off to the ex-UMIST campus which will then be The University of Manchester :)

    WOOT another UMIST student though :D :thumb: wotcha doin?

    I keep my account with my home branch, its easier tbh. Just keep your address your home address too which works for most online stores. Only those that REQUIRE the shipping address equal the delivery address are an arse, but i havent had that in a long while. I advise not getting a credit card straight away too, unless you're confident you can manage your money well.
    There's a barclays cash point inside the union which gives £5 notes, and the natwest one across the street has 3 (2 outside, 1 inside), then there's the HSBC one down charles street/oxford road opposite the BBC a little way out of campus.

    Also, 4 year rail cards are the shiznit. Ive saved soooo much with mine. I like HSBC, no complaints here.
     
  4. jetsetjimbo

    jetsetjimbo Up-up and away

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    Go for HSBC mate, I'm just coming to the end of my interest free postgrad overdraft - 3 years after finishing uni. They've treated me well :)
     
  5. Awoken

    Awoken Gazing at the stars

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    I've been with Lloyds for 7 years now as a student. They gave me £50 when I opened my account, they extended my overdraft way beyond its detailed limit at no extra cost when I was broke. They transferred me to an interest free graduate account - when I finished my first degree - with 2 years interest free overdraft and then, when I started my second degree, they transferred me back to a student account and gave me another £50. They have been really understanding and have cancelled bank charges and helped me resolve an internet fraud dispute a few years back which could of cost me £100 but in the end, thanks to them, cost me nothing. Maybe I've just been lucky but I'd recommend them.

    Also many of my friends over the 7 years have been screwed by Natwest, avoid them like the plague.

    The best advice I can offer, whichever bank you choose, is book meetings to discuss your account and they'll always help you out. If you're getting into financial difficulty then go talk to your bank (It's not in their interest to see you go bankrupt!).

    Good luck at uni! :hip:
     
  6. Kermet

    Kermet [custom title]

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    With Barclays if you have a student current account and a savings account you don't get any bank charges (over agreed limit, bounced cheques, etc). They also have very good overdraft options (much higher than they advertise)...
     
  7. monkeyville

    monkeyville Evilish Monkey ++;

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    I'm doing computer systems engineering if i can get in:)

    Thanx for all the advice guys i sounds like natwest is a no no and i think i'll head of to hsbc tomorrow to get my account especially since there is one at the place i'm planning on going (cheers for the heads up). Hopefully i won't go too much into debt :sigh:
     
  8. Hargle

    Hargle What's a Dremel?

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    If you already have an account with the bank you choose, be wary of them offering to 'upgrade' it to a student account. I've been with Natwest for years and have a pretty high interest rate. I set up my student account seperately because the interest is nearly zero, and I doubt I would get as good an interest rate if I went to set up a new non-student account now.

    I didn't set up my student account until the start of my second year, and they said that the offers they do are only valid for first year students, but you sound like you're going to be getting it sorted pretty much straight away. Just thought I would mention that incase.

    Luckily for me the single bank on my campus just happens to be a Natwest :)
     
  9. monkeyville

    monkeyville Evilish Monkey ++;

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    Yeah i'm trying to get all the finance side sorted out asap so that i don't have so much to worry about. :)

    I see your from notts uni as well :D My home city :rock: Didn't apply there as i wanted to get away and live a bit more independatly but i love nottingham uni and you've gotta love the city. :D According to studies theres a 4:1 ration of women to men :naughty: :thumb:
     
  10. Andy King Of All

    Andy King Of All What's a Dremel?

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    i'm almost at the end of my 1st year and have only just bothered to get a student bank account.

    Just set it up with Halifax, as i don't get any benefits for leaving it so long i'm not too bothered bout other stuff...i got other accounts with a decent interest rate.

    for my 2nd year i have around £1400 overdraft, which is reasonable for me, don't wanna get in too much debt. What i wanna know is this: for our overdraft do we have to arrange it or is it free to just go into the red as and when i want and not worry about charges till i go over the £1400 limit?
     
  11. fathazza

    fathazza Freed on Probation

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    my advice, is check out where ur staying and see who has the most local banks.

    its a pain in the ass when u have to go to the bank to deposit a £20 check and its a 40 minute walk....

    More to the point my main bank's nearest branch to me is 2 hrs on the train away :mad: now thats a pain....
     

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