best STUDENT bank account!?

Thanks

If I do spend money I don't have using the overdraft how would I pay it back? Does it get paid back when I get money back into my account? At the moment I would have no money to go into my new student account, until September when I get my student loan+grant

Well that's useless for a student account lol. I'd be withdrawing money daily!

Thanks

Basically, an overdraft allows you to take money out of your account that you don't have. So if you have £50 in the bank, and you need a book that is 56.99, you can still buy it, and it will go into your overdraft, so you'll have -£6.99 in your bank.

When you have a normal current account they usually charge you for having an overdraft, so they let you use it but they put interest on what you owe, so instead of having to -6.99 you would have -7.50 or something like that. 0% interest means you won't get that.

Santander are offering some money right now if you sign up and pay in a certain amount each month. Their overdraft is also pretty good, but will you need it? And I believe you have to pay a certain amount of money into your account before the overdraft is activated.

Co-op I don't know much about, but again they seem to have an okay overdraft. The only thing I would say when choosing an account is, what kind of banker are you? Are you always in credit? Would you rather have an overdraft for security? Are there going to be times when you need to pay your accommodation but you don't get the student loan til a few days later?

And finally, how are their telephone/online banking services? Apps? And it's rare that you need to go into a branch, but just in case, where is the nearest branch to you?

Quote me if you need any help, I like bank stuff

Thank you.

With Co-op, you get £1400 guaranteed overdraft immediately. Especially since all my uni's accommodation payment is required before the student loan comes in. Which sucks.
With santander, you'd need to deposit £500 each term in order to get the full overdraft amount. Which really wouldn't be a problem if the loan didn't come a couple weeks later than when the accommodation fee is due.

I'll also have to put a deposit of £300 to activate the overdraft for Co-op.

I'm not entirely sure if you have pay the accommodation fee ASAP, like, if it's taken out of your account automatically. Coz if not, this would solve the problem. But then again, if i do end going into overdraft and my in-credit doesn't reach £500 by the next term I won't be eligible for the overdraft with santander anyway and I won't be able to pay for accommodation.

This is minor but the santander bank is located on the campus whilst one (i think) Co-op branch is located somewhere in the middle of the town.

Tempted to open an account at all the major banks, keep my current lloyds one as it already has all my money in it, and just take the interest free overdrafts out of the others and put it in a savings account. At the end of the course, I'll put it all back and be up a few quid

Any problems with this? I also gets all the freebies

I know y can take put cash through any cashpoint from any bank, ut can y deposit cheques/cash through any bank's cashpoint?
It's just that I get paid in cash (tutoring) but prefer to spend off my card so that I can easily track how much was spent on what

With regards to the Natwest railcard, can mature students over the age of 26 get the railcard???


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With regards to the Natwest railcard, can mature students over the age of 26 get the railcard???


This was posted from The Student Room's iPhone/iPad App

For the co-op bank I am at the stage of needing to deposit £300 to activate my account..

I am just wondering if it is possible to deposit this £300 then withdraw it immediately to my other account.

I rang them up to ask the same question as my mum's going to deposit the money then I'll send it back.

I was told that the money has to be deposited within 28-days and must stay in the account for 2-working days before being removed.

http://www.studentwhat.com/the-best-student-bank-account-20122013-201213/ Halifax are number one though


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Hey everyone,
Im going to University in September and am starting to look at student bank accounts and which one would be best for me..
on a website it says the CO OP is the best however i was then thinking but surely the co op has a lack of cash points
im already with santander but currently have no overdraft or anything so perhaps that would be best for me because surely i could just switch my account?
What bank is everyone else with and what does everyone reccommend?
thankyou