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Is a student account really neccessary for uni? Watch

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    Simple question really..

    Booked an appointment to open one this week but I'm starting to wonder if it is really neccessary?

    If it has benefited you let me know how..
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    Rail card for 5 years free and access to a £1200 interest free overdraft for up to 6 years, 3 years as an undergrad then 3 more to pay it off on a sliding scale.
    Very useful perks!
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    (Original post by hypocriticaljap)
    Rail card for 5 years free and access to a £1200 interest free overdraft for up to 6 years, 3 years as an undergrad then 3 more to pay it off on a sliding scale.
    Very useful perks!
    Is the rail card only for specific banks?

    I don't remember seeing that on the brochure I read from HSBC..
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    (Original post by JmJtr)
    Is the rail card only for specific banks?

    I don't remember seeing that on the brochure I read from HSBC..
    natwest gives you a free railway card, whereas places like barclays wanted to charge me at a reduced amount. and they thought they were doing me a favour HAH!
    Although, with natwest they didnt (and wont) give me a card before my A2 results are out & i had proof i got into uni
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    Of course it's not neccessary. In the same way the tuition fee loan is not neccessary. They're just there in place to make life a little easier for you.

    Without the interest free overdraft, you'd either pay interest on an overdraft you may be stuck in for a very long time (I've been in mine over a year) or you'd get a smaller overdraft and get charged BIG for going over it. Not handy when you have rent, travel costs, food and drink costs that are all unavoidable, to pay for constantly.
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    I haven't used my Natwest one much, but I don't have the need for an overdraft and refuse to do online banking so the railcard is inaccessible.
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    I don't have one :dontknow:
    some of these perks do sound very appealing though
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    (Original post by JmJtr)
    Simple question really..

    Booked an appointment to open one this week but I'm starting to wonder if it is really neccessary?

    If it has benefited you let me know how..
    Something to think about it using the free overdraft to your benefit!

    You should apply for the account and then take out as much overdraft as you can (it's close to free money) and invest it in a savings account or ISA. Then during your whole time at university you could make up to 3% interest.

    Then when you have finished university you simply just pay it straight back and keep the overdraft. (Graduate accounts also give you 0% overdraft so you can gain interest for longer).

    I hope this helps!

    P.s. this is what I did and it's an easy way to make money!
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    (Original post by emit.)
    Something to think about it using the free overdraft to your benefit!

    You should apply for the account and then take out as much overdraft as you can (it's close to free money) and invest it in a savings account or ISA. Then during your whole time at university you could make up to 3% interest.

    Then when you have finished university you simply just pay it straight back and keep the overdraft. (Graduate accounts also give you 0% overdraft so you can gain interest for longer).

    I hope this helps!

    P.s. this is what I did and it's an easy way to make money!
    With Natwest the interest free period works as 3 years undergrad followed by 3 years graduate on a reducing scale to be cleared in the 3 years giving you the opportunity of 6 years investment income from free money.
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    Not if you do not need a railcard to reel you in like a fish, nor if you do not require an overdraft.
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    (Original post by GodspeedGehenna)
    Not if you do not need a railcard to reel you in like a fish, nor if you do not require an overdraft.
    It's not about NEEDING an overdraft! If you don't NEED it then you should use it to make interest out of it. It's a no brainer really!
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    An interest free overdraft is always useful.

    If you don't use it, stick it in a bond or a savings account and you'll get enough interest back by the end of the year to pay for a night out.
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    (Original post by emit.)
    It's not about NEEDING an overdraft! If you don't NEED it then you should use it to make interest out of it. It's a no brainer really!
    yayyyyy £2.36 a year!!11
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    Some of them have useful perks.

    Santander insure your electronic stuff with a reasonable excess, and give you an interest free overdraft. I haven't had anything stolen/broken yet though.

    But no, it's not necessary.
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    (Original post by GodspeedGehenna)
    yayyyyy £2.36 a year!!11
    More like £30!
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    Of course not. They're only worth getting if you need/want the stuff that comes with them, like an overdraft.
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    (Original post by GodspeedGehenna)
    yayyyyy £2.36 a year!!11
    that's the interest on £100.

    Not doing maths are you?
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    (Original post by hypocriticaljap)
    that's the interest on £100.

    Not doing maths are you?
    http://dictionary.reference.com/browse/hyperbole
 
 
 
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