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I'm applying for a student account but don't know which bank to go with. watch

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    Thanks for the replies I went to Natwest bank yesterday and talked about opening a student account, but the offers don't open til June time. All the banks will be competing for different freebies, E.g. Halifax and Natwest offer the free railcard. So ima wait til June and then apply for Natwest probably x
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    (Original post by Jazz1993)
    Thanks for the replies I went to Natwest bank yesterday and talked about opening a student account, but the offers don't open til June time. All the banks will be competing for different freebies, E.g. Halifax and Natwest offer the free railcard. So ima wait til June and then apply for Natwest probably x
    I would say that Natwest is your best bet.

    Not only do they offer the railcard as you say but they also seem to have branches literally all over the place.

    Halifax do not offer a railcard as you mentioned I am afraid, although they do offer the largest possible overdraft.

    I hope this helps. (Good luck with choosing the one that suits you).
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    (Original post by Jmzie-Coupe)
    My friend works for Lockheed Martin. Does that mean I shouldn't be his friend?

    What a ridiculous comment. People don't choose their bank account over ethics, they choose their accounts on what is going to get them the best service and value for money.
    Only if you give him money and he invests it into his business.

    This is the point - I know you don't care but others might want to see the reasoning of this - if no-one held an account with Bank X, Bank X would not be able to fund arms deals, etc. Every £ held in an account with a bank gives increased clout to whatever activities they do, ethical or unethical.

    A lot of people think banks are like safes - that they just put your money in a virtual box and give it back to you when you ask for it. No sir.
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    (Original post by chai wallah)
    Only if you give him money and he invests it into his business.

    This is the point - I know you don't care but others might want to see the reasoning of this - if no-one held an account with Bank X, Bank X would not be able to fund arms deals, etc. Every £ held in an account with a bank gives increased clout to whatever activities they do, ethical or unethical.

    A lot of people think banks are like safes - that they just put your money in a virtual box and give it back to you when you ask for it. No sir.
    They do give it back to me when I ask for it though, and if they don't the government covers me up to 50K.
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    (Original post by Jmzie-Coupe)
    They do give it back to me when I ask for it though, and if they don't the government covers me up to 50K.
    er not the point. They invest the money they're given (just like any sensible business would). The money you get back might be profit from, oh I don't know, Killing Babies Ltd.

    edit: slightly less stupid version of the same explanation is - imagine you're against the crack industry because it ruins people's lives. You give cash to a homeless guy, and miraculously he actually fixes up a meeting with you to give the cash back, because he wants to be fair. And he hands back £100 and it's all cool. Except you later find out that it's not exactly your £100 you're getting back - he blew the £100 and made it back by drug dealing. If you don't give a toss, you don't give a toss, but if you do then you'd regret it and would prefer to not fund that sort of thing in future.
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    How do I complete my student finance application if I don't have a bank account yet and the best time to open an account is around results day? I want a Natwest account so I can get the railcard but it says the deadline has passed.. someone on here says they re-open it in august but I need to have an account to complete student finance don't I? Helllllp
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    (Original post by JH-QC)
    How do I complete my student finance application if I don't have a bank account yet and the best time to open an account is around results day? I want a Natwest account so I can get the railcard but it says the deadline has passed.. someone on here says they re-open it in august but I need to have an account to complete student finance don't I? Helllllp
    You complete your student finance application before adding a bank account, and then you can update your bank details before you start uni and have applied for a student bank account.

    The banks don’t normally advertise their offers until nearer to the start of uni.
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    (Original post by chai wallah)
    er not the point. They invest the money they're given (just like any sensible business would). The money you get back might be profit from, oh I don't know, Killing Babies Ltd.

    edit: slightly less stupid version of the same explanation is - imagine you're against the crack industry because it ruins people's lives. You give cash to a homeless guy, and miraculously he actually fixes up a meeting with you to give the cash back, because he wants to be fair. And he hands back £100 and it's all cool. Except you later find out that it's not exactly your £100 you're getting back - he blew the £100 and made it back by drug dealing. If you don't give a toss, you don't give a toss, but if you do then you'd regret it and would prefer to not fund that sort of thing in future.
    Oh dear. What on earth are you talking about? What isn't the point? First of all you make a ridiculous claim that money you invest in the bank you might not get back (lol), then when I refute that claim you go on to say that's not the point? You really need to give some relevant sources to back up these stupid claims you're making as at the moment it's all hot air from a girl who clearly knows nothing about business OR banking.

    With regards to '(just like any sensible business would).' Do you actually know what banks actually do with peoples money? Do you??!

    Your analogy is frankly laughable and means nothing as it is too ambiguous.
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    :rofl3:

    Your misreading ain't my problem, love.
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    Biggest overdraft is very useful imo
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    Natwest- railcard. Also, a lot of people on here talking about overdrafts- be wary. Remember although it MAY be interest free, you still have to pay it back, so you're kidding yourself if you think it's justthere to be used freely.
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    Santander are good
    £1000 overdraft, Laptop insurance and further insurance for two gadgets
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    (Original post by chai wallah)
    er not the point. They invest the money they're given (just like any sensible business would). The money you get back might be profit from, oh I don't know, Killing Babies Ltd.

    edit: slightly less stupid version of the same explanation is - imagine you're against the crack industry because it ruins people's lives. You give cash to a homeless guy, and miraculously he actually fixes up a meeting with you to give the cash back, because he wants to be fair. And he hands back £100 and it's all cool. Except you later find out that it's not exactly your £100 you're getting back - he blew the £100 and made it back by drug dealing. If you don't give a toss, you don't give a toss, but if you do then you'd regret it and would prefer to not fund that sort of thing in future.
    :fatcontroller:
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    Anyone care to elaborate on why Santander are so awful?
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    go with santander they are an amazing bank. nothing is too much trouble for them
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    Nationwide
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    (Original post by Moooooooose)
    Not many people seem to be recommending HSBC. Is there a reason for this? You get a £1000 overdraft in the first year so it looks decent. No rail card but I have a 3 year one already so not fussed about that.
    HSBC is amazing! Been with them all my life and love them: VERY lenient, especially when I go over my 750 pounds overdraft limit. I have never had any issues with them .
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    (Original post by Marinated_in_Joy)
    Don't assume everyone is like your 'people'. If you read my original comment, I did imply that it was irrelevant to an extent, but if you must know, many people are actually interested in where their money's going, don't assume everyone thinks entirely with their pockets. Of course many people don't care about the ethics of their banks, but what's wrong with telling people facts?
    omg! i feel terrible for banking with HSBC, but they have been good to me from the beginning. My account expires in December (need to repay750 pounds in overdraft, so can't close it now). You made me think because I never knew these things about HSBC financing the arms sector! Thanks for enlightening me.
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    (Original post by Ollie901)
    Anyone care to elaborate on why Santander are so awful?
    Hi there Ollie!
    Since you asked, I'd be MORE than happy to explain why Santander are very easily the worst bank in the United Kingdom.

    When I was 17, I chose Santander and opened a current account with them. They set up my online banking, and a monthly savings account (x pounds goes in each month to receive a better rate of interest).
    When I got home and logged in to my Online Banking, I was given the message 'Sorry, there is an error with your Online Banking setup. Please call our customer care team.'
    So, the next day I called them and explained what had happened. The Indian man on the other end of the phone said that he'd send it to another department and that it should be sorted within a few days.
    A week goes by, nothing. So I phone them back, explain again, and they say the same thing, that they'll send it to the technical department who will fix it within a few days.

    This is not an exaggeration, I phoned them another 7 or 8 times before the problem was resolved. Each time I explained that the person before had said the same thing, and still nothing happened.
    So that was problem 1, absolutely ridiculous and I was already angry.
    Then, I opened an e-savings account online. After opening, they instantly blocked the account and said I would need to send in 2 forms of ID to open the account and be able to use it. I didn't really understand WHY, as it was linked to my current account, which they already had ID for, but whatever.
    I had already setup a payment for 100 pounds to go into that 'blocked' e-savings account, so I thought it'd be OK, they'll just decline it and return the funds to my current account. Wrong. The money went in.
    Not too much of a problem so far, but when I needed it, I went to transfer it out, back to my current account, where I was told 'you cannot do this because there is a block on your account.'
    OK, if there is a block on my account, fine, but why let money GO IN and not come out then?!
    It was at this stage where my patience completely ran out. I stormed into Santander with my ID and demanded that they close my e-savings and monthly savings accounts, but kept my current open while I open a current account elsewhere. They said I couldn't close my account today because there was a block on my e-savings, and that they would need to fax my ID to a department and I would need to come back in 4 days. Obviously this angered me even more, but I did it and returned in 4 days. To be told that the department did not receive my ID (despite me WATCHING the branch scan and fax it) and I would need to do it again.
    At this point, I wasn't even angry anymore because it was just getting hilarious.

    After waiting another 4 days, I returned and closed my monthly savings and e-savings account. I told them to remove all payments etc when closing the account, which they 'did'.

    Then, I opened a current account with Barclays (who, I have to say, I have NEVER had ONE problem with).
    Before I closed my current account with Santander, I received a letter telling me I would be charged a 30 pounds bank charge due to a failed Direct Debit. Wtf?
    After checking what it was, it was the x amount a month going from my current account into my monthly savings account (which was now closed), which is why the DD failed.
    BUT I ASKED THEM TO CANCEL THE PAYMENT, and they told me they did!
    I phoned them and said outright that I would not pay it because it was clearly their fault.
    The indian man on the other side of the phone told me that he would remove the charge as a 'gesture of goodwill' and that it would be 'only this once'. Any more charges I would have to pay for (despite it being their fault!!!)

    Then I closed my account, and, luckily, cut all ties with them.

    I've also worked in the Finance department of a department store for nearly 3 years. Our store card is operated by Santander Cards UK Ltd, and, again, we get SO many complaints EVERYDAY because of how ridiculous they are. They have NO goodwill at all, will not do anything for their own customers. For example, they charged customers 12 pounds late payment fees because THEY made an error and didn't send out statements for a month.

    They've also been published in newspapers many times as the worst company for customer service.

    That was a really long post, but for those who did read it, hopefully you understand why NOT to get trapped in Santander's web.
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    I know it may seem like a long way away but it's a good idea to think about when your student account turns into a graduate account!

    A lot of them like Halifax make you pay back your full overdraft in one year where as some allow you more time to pay it back.

    Santander have a bad reputation as a bank and they also have some of the highest charges if you exceed your overdraft. However, they are looking to improve their student bank accounts!
 
 
 
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