Which bank account for university Watch

theboilermantr15
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#1
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#1
Hey everyone I'm going to university this September and I'm looking for a good student bank account.

I was thinking of going with the Natwest student account; I've already got a bank account with them and I think I can convert it to a Student account. Plus the free rail card will definitely come in handy.

I'm hoping I won't have to use the overdraft very much, probably only in emergencies.


I've been trying to compare it with what the other banks are offering but tbh it's all just flying over my head. Most people are recommending to go for the one with the highest interest free overdraft; but I can't seem to figure out which bank offers that- they're all pretty similar tbh.


Any advice for a simpleton like myself?
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theboilermantr15
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#2
Anyone?
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christina077
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#3
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#3
im worried about this aswell!!! Just look for a bank that has a low interest rate on your overdraft or whatever because more than likely you will need to take one out. Ive heard santander is good
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Beholden
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Go with the largest 0% overdraft every time. If you don't use it stick the cash in an ISA or similar unless the freebies like a railcard will save you a serious amount of money.
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ElNormo91
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#5
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#5
It would be better to stick with your own bank if the time to transition to another bank is limited, and you'd stand a better chance of getting overdraft if you're already with the same bank. From my experience, I've managed to get a credit card (despite mixed reactions, but I mostly use it for internet purchases and for the purposes of building up an excellent rating) and an overdraft despite being turned down with Virgin for my first credit card (second time lucky, this time with my own bank!), but I've never touched it as my bank balance is very stable and I only go out on the odd occasion rather than every week. I got free travel insurance with my account, although I didn't really care about the other incentives, even if a free Railcard tempted me, but since my parents provide me financial support and SFE, I got one on my own accord.
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michael321
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#6
(Original post by theboilermantr15)
Hey everyone I'm going to university this September and I'm looking for a good student bank account.

I was thinking of going with the Natwest student account; I've already got a bank account with them and I think I can convert it to a Student account. Plus the free rail card will definitely come in handy.

I'm hoping I won't have to use the overdraft very much, probably only in emergencies.


I've been trying to compare it with what the other banks are offering but tbh it's all just flying over my head. Most people are recommending to go for the one with the highest interest free overdraft; but I can't seem to figure out which bank offers that- they're all pretty similar tbh.


Any advice for a simpleton like myself?
Moneysavingexpert student account comparison chart.
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Sabriella
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#7
I'm with Natwest, they're pretty good. I've never used my overdraft (but for one time; transfering mix up and as far as I could tell, they didn't charge me) and the rail card is great.
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theboilermantr15
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#8
(Original post by michael321)
Moneysavingexpert student account comparison chart.
Yeah I've already looked on there, I don't seem to be much wiser.

COOP seems to offer the best when it comes to the guaranteed interest free overdraft- but no freebies (I love freebies )
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theboilermantr15
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#9
(Original post by Sabriella)
I'm with Natwest, they're pretty good. I've never used my overdraft (but for one time; transfering mix up and as far as I could tell, they didn't charge me) and the rail card is great.
Did you go over the overdraft limits?
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Fonix
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#10
I am with natwest.

They are great, I was with santander before going to Uni and switched it over.

No regrets at all
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Sabriella
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#11
(Original post by theboilermantr15)
Did you go over the overdraft limits?
Nope. The overdraft is £500 a month. If you need more than that, you need to sort your finances a little =]
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Cicerao
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#12
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#12
Natwest is the most useful student account, the railcard is great. I prefer Nationwide for my savings accounts, though. (Feel free to send me some emails, any Nigerian princes reading this. :awesome:)
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RachaelS
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#13
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Im with RBS and my overdraft is interest free, and you can get a rail card as well
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ily_em
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#14
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If you're not going to use the overdraft then go for the one with the best freebies. That's what I did (free railcard ftw )
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Moonkin
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#15
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No railcard at natwest apparently anymore.
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talk2philippa
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#16
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#16
Before I started uni I opened a co operative (yeah I didn't know they were a bank either) student account. I was told to go for the bank that gave the biggest no interest overdraft.
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MM1234
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#17
(Original post by Moonkin)
No railcard at natwest apparently anymore.
How did you find out? It's still early to apply, and they don't know what offers they're going to have yet.
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oddsox
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#18
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#18
Whatever you do, don't go with santander, I've heard too many bad stories.

I'm with natwest and never had a problem, and to whoever was asking up there ^ the overdraft is interest free
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theboilermantr15
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#19
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#19
(Original post by MM1234)
How did you find out? It's still early to apply, and they don't know what offers they're going to have yet.
Yeah I checked today they don't do the free rail card anymore
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NeoNerd
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#20
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#20
Natwest is owned by RBS, so the account are identical.

Go for one based on it's features, not the freebies. Also, be careful about using your overdraft. If you can avoid using it, do.
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