Change banks or stay with the same one????
Hi guys, wasn't sure where to post this
At the minute I have a current bank account with natwest, been with them around 8 years. Could I change my current account to a student account or am I better going to a different bank? Also if I stay with natwest and just swap account types will I still keep the same account number??
Anyone know???
Thank you x
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At the minute I have a current bank account with natwest, been with them around 8 years. Could I change my current account to a student account or am I better going to a different bank? Also if I stay with natwest and just swap account types will I still keep the same account number??
Anyone know???
Thank you x
Posted from TSR Mobile
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Original post by Lynetteb35
Hi guys, wasn't sure where to post this
At the minute I have a current bank account with natwest, been with them around 8 years. Could I change my current account to a student account or am I better going to a different bank? Also if I stay with natwest and just swap account types will I still keep the same account number??
Anyone know???
Thank you x
Posted from TSR Mobile
At the minute I have a current bank account with natwest, been with them around 8 years. Could I change my current account to a student account or am I better going to a different bank? Also if I stay with natwest and just swap account types will I still keep the same account number??
Anyone know???
Thank you x
Posted from TSR Mobile
I'll be sticking with my current account. I get interest on the balance, I won't if I change to the student one. Plus, I don't need a railcard.
Original post by Lynetteb35
Hi guys, wasn't sure where to post this
At the minute I have a current bank account with natwest, been with them around 8 years. Could I change my current account to a student account or am I better going to a different bank? Also if I stay with natwest and just swap account types will I still keep the same account number??
Anyone know???
Thank you x
Posted from TSR Mobile
At the minute I have a current bank account with natwest, been with them around 8 years. Could I change my current account to a student account or am I better going to a different bank? Also if I stay with natwest and just swap account types will I still keep the same account number??
Anyone know???
Thank you x
Posted from TSR Mobile
I've been with Natwest my whole life and changed my current account to a student account last week. I just needed the letter from UCAS saying that I'd been accepted into a university. My account number and everything stayed the same.
Original post by Oldiebutgoodie
I'll be sticking with my current account. I get interest on the balance, I won't if I change to the student one. Plus, I don't need a railcard.
Mine is just a basic account so don't get interest or anything
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Original post by Frankston
I've been with Natwest my whole life and changed my current account to a student account last week. I just needed the letter from UCAS saying that I'd been accepted into a university. My account number and everything stayed the same.
Thanks. I'll pop in and see them then and see what they say. I don't mind changing my account if I don't have to bother changing direct debits and things. It's a real bind!! I've got my letter from uni but haven't had anything back from student finance. Would I need anything to show the bank?
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Original post by Lynetteb35
Thanks. I'll pop in and see them then and see what they say. I don't mind changing my account if I don't have to bother changing direct debits and things. It's a real bind!! I've got my letter from uni but haven't had anything back from student finance. Would I need anything to show the bank?
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All I needed was the UCAS letter. I brought some other paperwork just in case (student finance loans confirmation) but they only asked for the UCAS letter.
Make sure you look into what other banks are offering (for example I think HSBC is offering a 60 pound amazon voucher when you open a new student account with them - so annoyed they didn't offer that last year...) as there are some good deals/ freebies around. Most students accounts don't offer much interest on your money - most people look for accounts offering the highest interest free overdraft as students often have to borrow money during the year (to pay off with a summer job/ soon after graduation). If you don't need the overdraft, it could still be worth getting a student account with one, taking out the full amount, then putting it into another account paying lots of interest.
Personally, I opened a student account with HSBC last year - not entirely sure what they were offering, I think it was free travel insurance, 1% interest, decent sized overdraft; and also a FlexDirect account with Nationwide - because it paid 5% interest (for the first year only, and you had to pay in 1000 pounds per month - however you could get round this by transferring 100 pounds back and forth 10 times from the HSBC account...). Since the 5% interest deal is dropping down to 1% next month, I've also opened an ISA (a flexible one, can take money out whenever you want, paying decent interest) with Nationwide and a Loyalty Saver account (which pays quite a bit of interest because I've had an account with them for over 10 years).
Personally, I opened a student account with HSBC last year - not entirely sure what they were offering, I think it was free travel insurance, 1% interest, decent sized overdraft; and also a FlexDirect account with Nationwide - because it paid 5% interest (for the first year only, and you had to pay in 1000 pounds per month - however you could get round this by transferring 100 pounds back and forth 10 times from the HSBC account...). Since the 5% interest deal is dropping down to 1% next month, I've also opened an ISA (a flexible one, can take money out whenever you want, paying decent interest) with Nationwide and a Loyalty Saver account (which pays quite a bit of interest because I've had an account with them for over 10 years).
Original post by Lynetteb35
In that case perhaps its a good idea. Free overdraft with Santander plus railcard.
I've got a student account but I wish I never got one now! I've opened a basic one with Nationwide though
Thank you everyone. I was looking at the co-op bank or Lloyds originally. Just thought staying with the same bank and keeping existing account number might be easier in the long run because of still having to pay bills. I'm stuck at the minute because I haven't had anything back from student finance and a few of the banks ask for their letter! xxx
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Original post by Lynetteb35
Thank you everyone. I was looking at the co-op bank or Lloyds originally. Just thought staying with the same bank and keeping existing account number might be easier in the long run because of still having to pay bills. I'm stuck at the minute because I haven't had anything back from student finance and a few of the banks ask for their letter! xxx
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Oh really? HSBC asked for my letter from Uni
Original post by simplylldxo
Oh really? HSBC asked for my letter from Uni
Yeah both co-op and Lloyds ask for a letter from student finance aswell as confirmation from uni xxx
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I opened a second account with Santander (my 'main' account is with HSBC). The railcard offer was too much of a bonus to turn down because I'll be using the train often in the year.
Having 2 accounts I can manage my personal money from my student plan better, personally. Just shop around and see what deals the banks are offering.
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Having 2 accounts I can manage my personal money from my student plan better, personally. Just shop around and see what deals the banks are offering.
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Original post by Frankston
I've been with Natwest my whole life and changed my current account to a student account last week. I just needed the letter from UCAS saying that I'd been accepted into a university. My account number and everything stayed the same.
Just wondering, did NW specifically ask for UCAS or did they mention a letter from Uni. I have two letters confirming my offer from uni (one more detailed than the other) but have had nothing as yet from UCAS (should I have?!). I wanted to pop into NW tomorrow to change my account over to a student one but not much point if I don't have the right info with me!
Also did you have an overdraft already and if not were you offered one? I don't have an OD, haven't wanted one but with the delay in student finance after starting the course and having to move earlier to get my daughter into a new school, I'm contemplating that an OD might be sensible safety net til my loans come through.
Original post by MollyApple
Just wondering, did NW specifically ask for UCAS or did they mention a letter from Uni. I have two letters confirming my offer from uni (one more detailed than the other) but have had nothing as yet from UCAS (should I have?!)....
If you log onto to Track, you should be able to print the letter off. I don't think they send out hard copies (at least, I haven't received one).
Original post by Schadenfreude65
If you log onto to Track, you should be able to print the letter off. I don't think they send out hard copies (at least, I haven't received one).
Aha! Thanks for that tip! I stopped using Track a few days ago when my obsession with just logging on to stare excitedly at my confirmed place got a bit too much
Original post by MollyApple
Just wondering, did NW specifically ask for UCAS or did they mention a letter from Uni. I have two letters confirming my offer from uni (one more detailed than the other) but have had nothing as yet from UCAS (should I have?!). I wanted to pop into NW tomorrow to change my account over to a student one but not much point if I don't have the right info with me!
Also did you have an overdraft already and if not were you offered one? I don't have an OD, haven't wanted one but with the delay in student finance after starting the course and having to move earlier to get my daughter into a new school, I'm contemplating that an OD might be sensible safety net til my loans come through.
Also did you have an overdraft already and if not were you offered one? I don't have an OD, haven't wanted one but with the delay in student finance after starting the course and having to move earlier to get my daughter into a new school, I'm contemplating that an OD might be sensible safety net til my loans come through.
They didn't ask for anything specific, just "Do you have proof that you're going to university?". A letter from the university may suffice as evidence of a place, but as always it's going to vary depending on what branch you use and who you see that day.
The Natwest student overdraft is £500 straight away, increasing to £750 second term and then £1000 for the third term. This is all interest free so you don't have to pay any rates or charges as long as you don't go over the limit. Personally I already had a £650 overdraft, which will increase to £750 for the second term and so on as previously mentioned. It's a nice safety net to have seeing as there are no charges but if you don't like the idea of being 'in debt' then you can choose not to have it.
As for the UCAS letter, I received a hard copy from them confirming my place, what course I'm doing etc. Interesting that others haven't.
(edited 9 years ago)
Original post by Frankston
They didn't ask for anything specific, just "Do you have proof that you're going to university?". A letter from the university may suffice as evidence of a place, but as always it's going to vary depending on what branch you use and who you see that day.
The Natwest student overdraft is £500 straight away, increasing to £750 second term and then £1000 for the third term. This is all interest free so you don't have to pay any rates or charges as long as you don't go over the limit. Personally I already had a £650 overdraft, which will increase to £750 for the second term and so on as previously mentioned. It's a nice safety net to have seeing as there are no charges but if you don't like the idea of being 'in debt' then you can choose not to have it.
As for the UCAS letter, I received a hard copy from them confirming my place, what course I'm doing etc. Interesting that others haven't.
The Natwest student overdraft is £500 straight away, increasing to £750 second term and then £1000 for the third term. This is all interest free so you don't have to pay any rates or charges as long as you don't go over the limit. Personally I already had a £650 overdraft, which will increase to £750 for the second term and so on as previously mentioned. It's a nice safety net to have seeing as there are no charges but if you don't like the idea of being 'in debt' then you can choose not to have it.
As for the UCAS letter, I received a hard copy from them confirming my place, what course I'm doing etc. Interesting that others haven't.
That's great information, thanks ever so much. I don't have an OD at moment, decided not to, but as I have to move a few weeks before uni starts and I may have delayed funding as a clearing offer, I think it would be a sensible safety net just-in-case!
Original post by MollyApple
That's great information, thanks ever so much. I don't have an OD at moment, decided not to, but as I have to move a few weeks before uni starts and I may have delayed funding as a clearing offer, I think it would be a sensible safety net just-in-case!
What uni are you going to babes? I can come and visit you.
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