Bank accounts

[Museman]

I imagine a lot of people will be looking for the best deal on back accounts right now, well I was going to go with HSBC as they did the free 5-year railcard thing, BUT Natwest now offer the railcard, AND their overdraft limit is 1250 quid rather than 1000 at HSBC. RBS also have a 1250 overdraft limit, but no railcard. So all things in, looks like Natwest may be the best bet, you get the best of both worlds- the railcard and a higher overdraft limit. Has anyone actually opened their account yet, if so where, and what deal did you get? Cheers.

[Kermit]

If anyone is thinking of opening an account now, I would suggest on waiting.

It's amazing what freebies you can pick up in Freshers' Week when all the banks are clamouring for custom.

I personally would always recommend NatWest for student accounts- I've never had any problems with them at all. Even before the railcard the inducements were good- I got £60 cash, ta muchly, enough for plenty of railcards.

[Museman]

Originally posted by Kermit
If anyone is thinking of opening an account now, I would suggest on waiting.

It's amazing what freebies you can pick up in Freshers' Week when all the banks are clamouring for custom.

I personally would always recommend NatWest for student accounts- I've never had any problems with them at all. Even before the railcard the inducements were good- I got £60 cash, ta muchly, enough for plenty of railcards.

Well, enough for 3! I assumed that everyone had their account all done and sorted by the time they went? As much as anything else so that it is ready for their first loan payment? Also I would have to go back and check but at least one of the banks was saying that the railcard promotion only lasts until August.

[Kermit]

The first loan payment is by cheque- you can pay it into any bank account at all.

Shop around is my advice, and don't be pressured into deciding quickly. Promotions come and go, banks like to tempt people on early but they also need to fight hard in Freshers' Week to get people in and signed up.

I would also recommend taking out a student credit card, but only using it in emergencies. To get credit you need to have taken credit, you see.

[Museman]

Ah right I was thinking it would be by credit transfer. I will hold on then, cheers.

[crazy_guy]

My brother went with natwest and when he had problems with his overdraft they gave him a right hard time. They even asked to have his credit card back! :crazyeyes ....But then i've heard that aslong as you can pay back the money HSBC are always happy to extend your overdraft. Most banks offer the same sort of thing but where they differ is how they handle students... evil or nice :) going on a website such as www.dooyoo.co.uk can help ya look at peoples opinions. :) Good luck

[Museman]

Cheers mate :p

[BumbleBee]

Originally posted by crazy_guy
My brother went with natwest and when he had problems with his overdraft they gave him a right hard time. They even asked to have his credit card back! :crazyeyes ..

Oh no! They are perfectly entitled to do this and they would only do it when someone was getting themselves into extreme trouble to protect their interests. Why should they keep on lending when they've little chances of ever getting anything back?

[superfly]

im with natwest, never had any problems with them. and believe me, the extra 250 you get compared to HSBC goes a loooooooooooong way. you may not think it now, but when you get to the christmas holidays you'll understand.
railcards are only 18 quid or thereabouts as far as i know, its not gonna make your wallet cry if you dont get a free one! you'll spend a lot more on much more useless things while youre a student!

i'm in a privileged position in so far as i'll be probably the only first year with a £1600 overdraft next year (feels incredibly smug at this point :D )