Rejected student bank account by Santander

I remember a friend of mine who banked with Santander had his overdraft withdrawn at the end of the academic year because he once went over his limit.

Also, most banks don't normally allow you to take an second student overdraft if you've already got one elsewhere.

This is why poor people shouldn't be allowed overdraft. And they cry they're in debt. Boo you


Miss posh? More like Miss broke

I doubt it, my guess (I don't know how credit reports work) is that Halifax probably put that you went over your agreed overdraft limit on your credit report each time you did it.

You could always pay to have a look at your credit report through experian.

I'm certainly no financial expert but from what I understand credit stuff is pretty rough (since the whole financial crisis thing) and it stays on your report for quite some time.

I remember reading stories of ex-students who were denied mortgages years later because they missed Wonga repayments by like 1 or 2 days in Uni and went over overdrafts.

If you spend a good few years paying all your bills/phone contracts etc etc on time and being careful i'm sure you wont have anything to worry about by the time you've graduated and are in a position to do anything you need major credit for.

I'm actually quite well off compared with most students.

WUT?
You said you have maxed out your overdraft and regularly exceed it, I don't see how that can be 'well off' by any possible interpretation of the words.

It costs £2. I wasn't aware of this at the time. OMG. If I had known about a credit report I would not have exceeded my overdraft. I was just spending money on silly stuff last year... What was I thinking!

Now I have even less money than I had last year due to my household income. I have a job paying around £160 a week.

If I don't extend my overdraft again, will my credit report go back to normal over time?

I'm actually quite well off compared with most students.

That's why you're using your loan to pay off Halifax. And if you are well off why have you bothered to get a student loan. LOL


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It costs £2. I wasn't aware of this at the time. OMG. If I had known about a credit report I would not have exceeded my overdraft. I was just spending money on silly stuff last year... What was I thinking!

Now I have even less money than I had last year due to my household income. I have a job paying around £160 a week.

If I don't extend my overdraft again, will my credit report go back to normal over time?

the banks will not allow you to run multiple student current accounts.

that is why you have been rejected

thisi s why many of the banks reserve the right to close or convert to a Basic Bank Account / Standard Current account any student account you open and don;t pay student funding into ...

^^ This is 100% correct.

You can't have multiple student accounts, precisely to stop you running up multiple overdraft debts. A second application to a different bank will be flagged and rejected.

If your current bank finds out that you are making applications elsewhere, you risk having your current student account closed/converted and getting a demand for immediate repayment of any debt. Multiple applications can be viewed as attempted fraud.

OMG. Is this why you have to read the small print?

I currently have a student bank account with Halifax. I am -£999 into my overdraft limit meaning I owe Halifax £999. My maximum overdraft limit is £1000. This isn't enough, so I applied for a Santander student bank account. I was rejected by them because of Information held about you by a credit reference agency.

What does this even mean? The only debt I have is the £999 I owe to Halifax. I have a student bank account. I don't have credit card, only a debit card. I did however exceed my overfradt limit numerous times this year, so Halifax won't extend my overdraft, so I want to close my account and open one with Santander

So, I wonder if Satander rejected my application because I owe money to Halifax? Or did they reject my application because I exceeded my overdraft limit a few times this year?

I get £2000 student loans and grant paid into my Halifax account next week. This will pay back my overdraft meaning I owe nothing to Halifax. I have a job and earn £160 a week too

Then can I close my Halifax account and open a Santander account and put the £1000 into it which entitles me to their £1500 overdraft limit.

Did Santander reject my application because I still have an overdraft I need to pay back to Halifax?