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    I was thinking if it's a good idea to go with Halifax (who have £1750 interest free overdraft) and sticking it in a high interest account for three years. Has anyone else tried this? and if so, is it worth it?
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    Do the Halifax offer any incentives, apart from a big overdraft? I'm tempted to go with them now as their overdraft is bigger than anyone elses.
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    Damn so either Lloyds TSB or Halifax, both seem good?

    Bank
    1st Year up to:
    2nd Year up to:
    3rd Year up to:
    4th Year up to:
    5th Year up to:

    Halifax
    £1,750
    £1,900
    £2,100
    £2,100
    £2,100

    Barclays
    £1,000
    £1,250
    £1,500
    £1,750
    £2,000

    Lloyds TSB
    £1,000
    £1,250
    £1,500
    £2,000
    £2,000

    But if you have an unauthorised overdraft with halifax 2.13% per month (28.8% EAR+) and Lloyds TSB Student account % Per Month % EAR
    Year 1: £1,000+ 0.60 7.4
    Year 2: £1,250+ 0.60 7.4
    Year 3: £1,500+ 0.60 7.4
    Years 4 & 5: £2,000+ 0.60 7.4
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    ^^^ I wish I could understand that
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    Does 28.8% not sound really high??? - even my credit card I got last year was only 18%. Going to be in soooo much debt when I finally finish!
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    (Original post by Topper)
    Does 28.8% not sound really high??? - even my credit card I got last year was only 18%. Going to be in soooo much debt when I finally finish!
    28.8% is a high interest rate, what's it on?
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    (Original post by Juno)
    28.8% is a high interest rate, what's it on?
    Yeah, but the point is try not to go over the overdraft limit! :rolleyes:

    http://www.halifax.co.uk/bankaccounts/rates.shtml

    http://www.lloydstsb.com/rates_and_c...studentaccount

    So its either a halifax with bigger overdraft but large interest rate about OD OR Lloyds with slightly smaller OD but lower feess if over the OD limit. But as someone said, you would get a credit card if the rates a much lower?

    What would you recommend?
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    I went into Lloyds today and they said that they are going to be updating their leaflets for their student service in time for 1st July and i've been hearing reports that it's going to be as competitive as ever....we'll just have to wait and see. I'm open to any banks atm so they have to try and convince me hard!
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    (Original post by digitalparadox)
    I went into Lloyds today and they said that they are going to be updating their leaflets for their student service in time for 1st July and i've been hearing reports that it's going to be as competitive as ever....we'll just have to wait and see. I'm open to any banks atm so they have to try and convince me hard!
    So what do you think, should i or shouldnt i get a student account then? Or shoul di just go Lloyds as my dad said to me, "go with lloyds as they have good rates etc" even though i also bank with natwest and barclays.
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    Ive booked an appointment with Lloyds for me and my bor so looks like we are having student accounts with them! It was going to e Halifax but there EAR 28% is very high compared to Lloyds EAR 7% as well as someone mentioned they are going to be even more competative this year! They have changed there system and rather than a centralised application systems, its all in branch!
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    Natwest just sent me a form that I didn't request for a student account! :p:
    I've been with them 2 years and they didn't send me one when I was finishing my A-levels last year. Does ucas or someone tell them I've got a university place?
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    (Original post by gianthead)
    Natwest just sent me a form that I didn't request for a student account! :p:
    I've been with them 2 years and they didn't send me one when I was finishing my A-levels last year. Does ucas or someone tell them I've got a university place?
    Natwest just sent me the form, and I already have a student account with them.
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    sorry if this has been asked but is there a 'good' time to open a student account? is now too early?
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    Wait a month and all the banks would be at it trying to get as many people as possible with incentives.
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    Hey there!! By the sounds of things, I should be thinking about all this student bank account stuff! LOL!. I'm with Barclays atm but I like the sound of the Nat West rail Card or the RBS Preferential loan thing (im doing law :-()!! Is it possible to have 2 student accounts... or is it 'illegal'.. if so... which one would you recommend??

    Cheers!!

    Ash xxx
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    It's not illegal but can be faced with a fine if you are found out. It is possible to keep it discreet, but things can get tricky if you get a part time job and your wage is going into one account and the other bank finds out you are using their account for the overdraft. I wouldn't try it, but i'm sure it can be done
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    I think im going to go with Loyds bank if anyone is interested.
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    Im SOOOO confused! I'm already late with my finance forms as it is - sitting here filling them now - the whole bank account thing, have most people already opened their student account and so put those bank details into the 'student's bank details' bit on the form? Or have you given them details of a non-student bank account that you already have and so will open your student account in a couple of months and then ask the loan people to change your bank details.....?
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    (Original post by nuttymimi)
    Im SOOOO confused! I'm already late with my finance forms as it is - sitting here filling them now - the whole bank account thing, have most people already opened their student account and so put those bank details into the 'student's bank details' bit on the form? Or have you given them details of a non-student bank account that you already have and so will open your student account in a couple of months and then ask the loan people to change your bank details.....?
    I put my current plus account details on, since then Natwest have sent me a letter offering to upgrade my account to a student one, it'll still be the same account so the details should be the same.
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    (Original post by digitalparadox)
    It's not illegal but can be faced with a fine if you are found out. It is possible to keep it discreet, but things can get tricky if you get a part time job and your wage is going into one account and the other bank finds out you are using their account for the overdraft. I wouldn't try it, but i'm sure it can be done
    No. You won't get fined. You will get your overdraft immediately withdrawn, and your account closed (and any related bits like credit cards). So you'll be charged a lot of interest until you pay it back.

    But if you get a job, you'd have that going into one account and your student loan going into the other, so it wouldn't be tricky at all.
 
 
 

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