Unsecure chicken perches

[ubereglu]

Hi,

 

I should be starting at Birmingham soon and need to get a student bank account sorted, who would any of you recommend? I know that Natwest offer a free railcard-but you only get this now if you previously had a bank account with them, which I don't. So that's not much use.

 

Hope you can help,

 

Liz

[Geoid]

Halifax are doing one with a £3000 interest free overdraft.

[Cinnamon]

We are sticking with the HSBC one,for convenience & also the free overdraft facilities,plus she can get a credit card,which although she will not use,will get her onto the credit ladder.

[ubereglu]

Halifax are doing one with a £3000 interest free overdraft.

 

Have read feedback about that account-generally it's VERY hard to get it up to that.

 

I am perhaps thinking about going with the co-op, it gives £2000 guaranteed overdraft, and I should be able to open it at Britannia.

[squiffs]

Halifax are doing one with a £3000 interest free overdraft.

 

 

It's 'up to' £3000, so you won't get that, and especially not in first year.

 

 

I still have a natwest student account.

 

I got a free webcam and am still getting (this is my 5th) a free railcard. £1200 overdraft 1st year, £1400 2nd year, £1600 3rd year...

 

 

though I would say be stringent about your overdraft. Having a huge overdraft facility with no interest can bite you in the backside when you leave - as unless you're earning enough to pay it off very quickly you'll end up stuck in the red for a long time. And probably end up paying interest.

[ChrisP]

I have a Barclays student account. £200 overdraft, which could be extended to £1000 (possibly more). I like the low overdraft, I try hard to stay out of it, and never rely on it, there are so many people I know who are -£2500 etc, and have no idea how they are going to get out of their overdrafts, which is why I like the smaller one! Also, as Squiffs said, if you have a large overdraft when you leave, I'm not sure how long it is before you could end up paying interest or anything.

[squiffs]

I have a Barclays student account. £200 overdraft, which could be extended to £1000 (possibly more). I like the low overdraft, I try hard to stay out of it, and never rely on it, there are so many people I know who are -£2500 etc, and have no idea how they are going to get out of their overdrafts, which is why I like the smaller one! Also, as Squiffs said, if you have a large overdraft when you leave, I'm not sure how long it is before you could end up paying interest or anything.

I'm paying interest now, and I only left university a year ago. Interest can be charged anything from 6 months to a year after graduation.

 

 

Also, WOAH, I am glad I only have -£1600

 

 

Reality check here chums, when I left uni last year I was on Jobseekers for a few months before I found a job, and I'm (for now, transitionally, temporarily, blahblahblah) in a school leaver type admin position for a local electrical contractors. I get £900 a month after tax, so I've not paid a single bit of my overdraft off, what with rent, council tax, bills, food etc. Plan for every eventuality and if you can, expect the worst so financially you're prepared. Student accounts are a very easy way to rack up what is essentially another unsecured debt.

[Redwing]

My mortgage is with Brittania and I have found them to be excellent and very easy to get through to the right departments etc.. when phoning which is great

 

Good advice from Squiffs and Chris on those tempting high overdrafts

 

Its sooo easy to see things like that as 'free' money, in the short time I was a student I went to my max overdraft and had a huge problem paying it off for years afterwards, goodness knows what it would have been like if I'd had a student loan too

[Ain't Nobody Here]

I'm surprised that you can have a student bank account with attached benefits when you're no longer a student.

[squiffs]

I'm surprised that you can have a student bank account with attached benefits when you're no longer a student.

It's a graduate account, but on the system it's still classed as a 'student' account.

[Lewis]

I have my Student Account with NatWest ... free 16-25 Railcard with a £500 overdraft.

They're all much of a muchness I think.

 

I also have a few other accounts with Santander who have been pretty good too.

[Pipichick]

I had a barclays student account, and was very happy with them, however that was 10 years + ago. Did flit to Natwest after graduating but found them very narrow minded, towards large overdraft and not much income coming in ( I am sure everyone has a tale about every bank being awkward) !!!

 

The one thing I would also double check is how far away your local branch of your chosen bank is. It's all very well having the 'best' account but if that involves 2 bus trips to pay in much needed cheques sent by well meaning relatives, it defeats the object

[squiffs]

 

The one thing I would also double check is how far away your local branch of your chosen bank is. It's all very well having the 'best' account but if that involves 2 bus trips to pay in much needed cheques sent by well meaning relatives, it defeats the object

 

Most universities have banks on campus.

 

Birmingham definitely has several banks on campus, I think Barclays, Natwest and HSBC. The university has its own train station and Birmingham New Street/ The Pallasades/ The Bull Ring etc are an 8 min train journey away.

 

[Pipichick]

Correct. Most universities have some branches on campus. Double check which ones... I chose Barclays as they had sponsored the Aston Student Guilds Handbook, I arrived on campus to find my closest branch was Birmingham City Centre, a good 15 mins walk away