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Application for Santander student account declined - wtf? watch

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    I already have a student account with Natwest, but wanted the free insurance offered with Santanders student account. In the Santander T&C's it doesnt stipulate that you can not open student accounts with other banks, the only requirement is you deposit0 £500 per term, so I assumed there would be no problem. I went into the branch and applied over a week ago, and having heard nothing decided to give them a call today to find out what was going on, only to be told my application for a student account has been declined :confused:

    I have a good credit history compared to most students (already built one up by using and paying off in full each month my credit card for the last year) and had no problems getting the Natwest student account or overdraft, so I'm having trouble understanding why this could be. I have never heard of anyone being rejected a student account before.

    Needless to say I am pretty pissed off, and will be immediately closing my A&L accounts and in future will avoid Santander at all costs. But has anyone heard of this happening before, and anyone able to say why I would have been declined?
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    Just trying to be greedy with the free insurance huh ?
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    it happened to me. didnt have a student account and tried at natwest, lloyds tsb and halifax but got declined at all 3. no idea why, no-one could tell me. was gona do it through aliance and leicester but they keep refusing to give me an overdraft on my normal account with them so figured thered be no chance of getting a student account with them.

    went to open an isa at barclays with the money im saving for my car, they asked if i had a student account, i explained my problem and they told me to come back that afternoon to sort out both accounts, didnt think id be allowed the student account as id been declined by the others but thought i may as well try them as well. later that afternoon i went and was accepted for a student account with absolutely no problem, had great credit rating and therefore baffled why barclays could give me a student account but the others wouldnt.
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    All the banks share your information, that's why.
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    I've had an account with Natwest for 5 years, maxed out the overdraft when at uni, paid it all back within agreed time limits. Have never had any bill or DD fail. I got declined from Santander, despite my credit report being excellent.

    I just wonder....natwest have never made any money on me. Someone once told me that some banks like customers who will go over overdraft limits, cos then they'll make £30 on bank charges. There's literally no reason why I could have been declined.
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    So its possible that they saw I already had an account open with Natwest and rejected me for that reason? Seems odds considering they don't explicitly state that you are not allowed any other student accounts, and lots of people seem to have more than one.

    (Original post by modgepodge)
    I've had an account with Natwest for 5 years, maxed out the overdraft when at uni, paid it all back within agreed time limits. Have never had any bill or DD fail. I got declined from Santander, despite my credit report being excellent.

    I just wonder....natwest have never made any money on me. Someone once told me that some banks like customers who will go over overdraft limits, cos then they'll make £30 on bank charges. There's literally no reason why I could have been declined.
    Thats a similar situation to mine - whilst I doubt my credit rating is as good as yours, I have never payed any bank charges so maybe that has something to do with it. Presumably if you'd finished uni you were trying to open a standard current account, not a student account? Seems even more bizarre.
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    had the same problem, apparently my credit score wasn't good enough. I'm 18, I don't even have a credit score and no one in my family has been in debt.

    Personally I think there's either a glitch in the system or they can't be assed to examine applications properly
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    (Original post by aeonflux)
    So its possible that they saw I already had an account open with Natwest and rejected me for that reason? Seems odds considering they don't explicitly state that you are not allowed any other student accounts, and lots of people seem to have more than one.


    Thats a similar situation to mine - whilst I doubt my credit rating is as good as yours, I have never payed any bank charges so maybe that has something to do with it. Presumably if you'd finished uni you were trying to open a standard current account, not a student account? Seems even more bizarre.
    I finished uni in 2008, so my Natwest account is a graduate account. But I was trying to open a student account with Santander, as I've gone back to uni to do a PGCE, and Natwest wouldn't let me switch it back.
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    Santander don't examine any credit applications manually, a computer credit scores you and then either rejects or accepts the offer. All applications can be appealled and then an underwriter (human being) will look at the case, usually they will send a message to the branch asking for more information, like credit card statements, bank statements, proof of address, they will then often overturn the decision. Also a declined application with one institution will leave a mark on your credit history and will make it MORE likely that other banks will decline you.
    Having worked in banking, i cannot stress enough that going over your agreed limits does NOT help you get a bank account, or credit facilities with other banks/building societies.
 
 
 
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