The Student Room Group

When do I need to open a Student bank account?

I'm trying to organize as many University things as possible during this Easter break. :smile:

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Reply 1
I went into Natwest yesterday and they said they can't do them until August.
Unfortunately, the banks seem to take ages to open up their student accounts.

The details of the accounts are usually released in late May and then students are unable to apply until around late July/August as Add!ction has pointed out.

The major problem is that many sites that are meant to be in a trusted position are falsely advertising next years accounts in order to get hits which can lead to confusion.
I made a standard account with Natwest for my student finance, when it comes to july/august I'll just upgrade to a student account! Simples
I was in the Clydesdale bank yesterday and they told me that they could open a student bank account once I had my acceptance letter.
Reply 5
I opened my student account back in February. All i needed was my acceptance letter (and of course two forms of identification)

My overdraft won't go into effect until September though.

P.s I'm with Lloyds TSB
Reply 6
benthomas15 - will the overdraft go into effect before freshers week? I'm gonna need to pay Septembers rent with my overdraft before the loan comes in, can we use overdraft anytime in September? I'm thinking Lloyds for my bank, is all.

And, Halifax (Voted second best Student account for 2011, first was co-op (I didn't even know they had a bank!) told me that once I had firmed my place and had a letter, I could open an account :smile:
Reply 7
when should we aim to get student finance done by??
Reply 8
I want mine done by the end of April, I just need to send evidence off and wait I think. I think the earlier the better tbh :smile:
Reply 9
Original post by Iola :}
I'm trying to organize as many University things as possible during this Easter break. :smile:


most banks wont let you open an account until results day at the earliest, unless you have an unconditional offer
Reply 10
Original post by ugk4life
when should we aim to get student finance done by??


May 9th. :smile:
afaik you need your UCAS confirmation letter to open a student bank account
Reply 12
Original post by alexsasg
May 9th. :smile:


thanks.
Original post by Toneeh
benthomas15 - will the overdraft go into effect before freshers week? I'm gonna need to pay Septembers rent with my overdraft before the loan comes in, can we use overdraft anytime in September? I'm thinking Lloyds for my bank, is all.

And, Halifax (Voted second best Student account for 2011, first was co-op (I didn't even know they had a bank!) told me that once I had firmed my place and had a letter, I could open an account :smile:


Hopefully. If not i'm pretty sure they'd activate the overdraft if you went into the branch at the start of freshers week.
I've just applied for a co op student account, they let you apply as soon as you want! I knowI have applied extremely early for my student account, but i think its worth it as people who apply after results in august/sept last year were waiting weeks and weeks and in some cases months as they were so busy with student applications! Best to have it all ready asap and then you will definitely have your overdraft ready before you go to uni!
:biggrin:
Reply 15
Original post by Alice123456
I've just applied for a co op student account, they let you apply as soon as you want! I knowI have applied extremely early for my student account, but i think its worth it as people who apply after results in august/sept last year were waiting weeks and weeks and in some cases months as they were so busy with student applications! Best to have it all ready asap and then you will definitely have your overdraft ready before you go to uni!
:biggrin:



Original post by Toneeh
I want mine done by the end of April, I just need to send evidence off and wait I think. I think the earlier the better tbh :smile:


Have you got unconditional offers? Or can you open one up anyway?
Reply 16
I got my coop student account about 2-3 months ago.

Saw a little segment on ITV yesterday morning about the "best" student bank accounts. They were basing it on the accoutns that give you the biggest overdrafts - Coop and Santander came out on top.
Ok thankyou for your help! :smile:
Reply 18
You'd definitely need to open one now.

I opened mine on the 4th of August. Got everything setup now.

I'm with Santander.
The bank details were released last week so I would say compare what is on offer and then open your account when you can.

See details of the accounts here: http://www.savethestudent.org/money/best-student-bank-accounts-201011.html

There is no major rush but the sooner the better just to save hassle.

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