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Advice about student accounts/overdrafts waffle

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    Hi, normally I wouldn't start a thread but I just got back from Barclays and I was too sleep deprived to ask the bloke on what he meant, which will mean this will be a waffle.

    Bloke at Barclays asks if I have another student account, I say yeah but I wanted to change over. He says I can close it myself when the Barclays one is set up, cool okay then. A lot of people I know have two, but I do want to close my HSBC one eventually.
    He goes back into the office bit after I ask him to confirm what I'll bring to the appointment on Wednesday. But now he says that I need to close my account first. But I've got wages (small but paying for my train tickets to go to uni on Monday and Tuesday to hand in my deferred work) coming in this weekend. He also mentions the UCAS letter even though I've been a student for two years and it says in their booklet, no older than 12 months for that, as proof.

    Anyway, I bank with HSBC, and I expected my overdraft to go up in consecutive years, but to no avail. I'm currently short of 300 pounds for my rent and rest of deposit, so don't need too much and I can earn that back before uni starts up again.

    I know people might play the dead relative card, but my dad is dying and all I need is an overdraft that will be there for when I have to do the funeral things too, as I'm the only next of kin, which is horribly likely to be within the next year. Trying to balance this with third year costs and possible postgraduate applications (probably have to abandon that now) is seriously depressing. I haven't told the bank this as I thought it would be odd to do, because it does in my head.

    Sorry for the length, but any advice to the Barclays thing or HSBC overdraft would be great, I just want to drop out because I don't think I can afford this anymore.
    I don't have any rich relatives, and the only reason I'll have some money, is because I got coerced into lending my mum most of my bursary money and she has to pay it back, which is another problem entirely.
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    Having to close the other account will be because part of the new account's terms and conditions will be that it has to be your only student bank account, and your loan will have to be paid in to it.

    I'm sorry to hear about your dad. On a very practical level (I don't know if you know any of this, but I thought I'd say because it might be useful), there's some advice from the CAB on help with funeral costs here http://www.adviceguide.org.uk/englan...neral_payments

    The Access to Learning fund may also be able to help you if there are financial things that are making you think about dropping out of uni. http://www.direct.gov.uk/en/Educatio...ance/DG_171615

    How to reduce funeral costs http://www.moneysavingexpert.com/tea...ake-a-killing/
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    What do you mean 'no avail' with the HSBC overdraft increasing? I had to request mine, it doesn't just go up or do you mean they said no?
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    (Original post by Origami Bullets)
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    Thank you for replying. I definitely was going to pay my finance into my new account, I've had a few qualms with HSBC in the past so I would definitely use a new bank as my first account. I've got a job interview the same time as this bank appointment on Wednesday, so I'm going to arrange that for a different time. Maybe it's worth contacting my current bank for the time being.

    Cheers for those links, I'm going to have a read through now. My dad is arranging a green funeral so the costs are pretty good I think, for a funeral anyway. He mentioned that there'd be things after which I'd have to pay for, he's very organised so I'm sure there'll be a 'checklist' soon.

    (Original post by Tinsley)
    What do you mean 'no avail' with the HSBC overdraft increasing? I had to request mine, it doesn't just go up or do you mean they said no?
    I gave them a ring the other day. Mentioned to the person on the phone that I wondered if my overdraft could be increased, and she typed something up straight away. She said it couldn't be increased now, and the next time I could apply would be August. I wondered whether it was worth phoning again and explaining why.
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    (Original post by kwassa)
    Cheers for those links, I'm going to have a read through now. My dad is arranging a green funeral so the costs are pretty good I think, for a funeral anyway. He mentioned that there'd be things after which I'd have to pay for, he's very organised so I'm sure there'll be a 'checklist' soon.
    Don't assume that a green funeral will cost less than a regular one - certainly when we had one for a relative of mine, it cost more than the basic option at the council-owned cemetery. I can't claim to know much about the relative costs of funerals, but the green one we went for wasn't one with a lot of bells and whistles IYSWIM.

    Make sure you talk to him about what he'd like to happen at the funeral - if you know in advance, then it will save you a lot of stress and worry about what to do / whether or not he would have liked it.
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    (Original post by Origami Bullets)
    Don't assume that a green funeral will cost less than a regular one - certainly when we had one for a relative of mine, it cost more than the basic option at the council-owned cemetery. I can't claim to know much about the relative costs of funerals, but the green one we went for wasn't one with a lot of bells and whistles IYSWIM.

    Make sure you talk to him about what he'd like to happen at the funeral - if you know in advance, then it will save you a lot of stress and worry about what to do / whether or not he would have liked it.
    Of course, yeah. He's asked me if I want to go with him to see the plot this summer, think he has to pay for it then, so I'm going to go and talk to the people who own that. Can hopefully get some more information about things.

    Ah, dreading that a bit to tell you the truth, makes it a bit more 'real', but I will. I want to make sure everything's done as he wants it.
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    I opened a second account with LLoyds in my second year, didn't tell them I already had one with Natwest - the whole thing was up and running within a couple of days, a mate did the same too as we were both short on cash.

    The overdraft was instant too, didn't have to make a student loan payment or anything else. Worth a look
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    In terms of banks, could you convert the HSBC one to a current account afaik the numbers would stay the same but ask in the bank to check first, then you don't need to worry about getting paid.

    However once it is a current account you may have to start paying interest on the overdraft straight away (before you can transfer it to the new student account), or you may have an interest free period so again check this first.

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Updated: June 23, 2012
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