When do I apply for a (student) bank account?

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WK_Of_Angmar
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#1
Report Thread starter 7 years ago
#1
I should note that I don't have any bank account (student or otherwise) at this moment in time.

I've received conflicting messages from everywhere I've looked about when I should apply for a bank account. Student Finance has sent me a letter telling me to set up a bank account and give them details of it as soon as possible. Yet, the bank where I want to apply for a student account (Santander) says that I must "apply online when you have received your A Level results so that your confirmed place can be verified within 30 days of your application". This means that I would have to wait a few more months before applying.

I am really confused. :confused: Should I apply for a normal current account at this time and switch it to a student account after my results are out? Or should I ignore the Student Finance letter for now and apply directly for a student account once my A Level results are released?
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Georgie_M
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#2
Report 7 years ago
#2
Yes I believe all banks require your acceptance letter after your results so you should just open a normal account with the bank you want a student account with and switch it when you receive the letter.
Your account details should stay the same when it becomes a student account so you shouldn't need to update them - check with your bank of course though when you do this.
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WK_Of_Angmar
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#3
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#3
Well, this is a complete waste of time. I wonder why they can't just wait for a while. I guess I'll have to make a normal account now, then.
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balotelli12
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#4
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#4
You don't need to open an account until you get your UCAS letter.
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Klix88
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#5
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#5
(Original post by WK_Of_Angmar)
Well, this is a complete waste of time. I wonder why they can't just wait for a while. I guess I'll have to make a normal account now, then.
As long as you have a bank account open before your first payment is due at the start of the academic year, you'll be fine. You can go into the UCAS system and add bank details at any time.

You don't have to open a normal account now - you're fine to wait until your place is confirmed in a few months' time. This is standard procedure and everyone else will be in the same position. I don't know why SF should be telling you that it urgently needs to be done now. Sounds like a misunderstanding to me.
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mcfc
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#6
Report 7 years ago
#6
(Original post by WK_Of_Angmar)
I should note that I don't have any bank account (student or otherwise) at this moment in time.

I've received conflicting messages from everywhere I've looked about when I should apply for a bank account. Student Finance has sent me a letter telling me to set up a bank account and give them details of it as soon as possible. Yet, the bank where I want to apply for a student account (Santander) says that I must "apply online when you have received your A Level results so that your confirmed place can be verified within 30 days of your application". This means that I would have to wait a few more months before applying.

I am really confused. :confused: Should I apply for a normal current account at this time and switch it to a student account after my results are out? Or should I ignore the Student Finance letter for now and apply directly for a student account once my A Level results are released?
You should apply for a student account, there are many advantages on getting one. I applied for a Co-op student account. And they're really good, just pop into one of their branches and apply there. Or alternatively you could apply online, and they tell you to send paper work within 3 working days. It's simple.
Take a look at this link: http://www.co-operativebank.co.uk/cu...counts/student

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Shodann
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#7
Report 7 years ago
#7
I had a regular current account with Santander and I was fortunate to get a unconditional offer with my Uni so I changed my account to a student account one last week with the UCAS confirmation letter (they need it as proof and for your Reference number so they can check with UCAS), although I get the benefits of the student account when I get the first set of Student finance payments.

I just went into a local bank branch and booked an appointment when I got my Ucas letter, I would recommend you do the same once you have had a look around at the offers you can get.
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WK_Of_Angmar
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#8
Report Thread starter 7 years ago
#8
Thanks for the information. The letter that they sent made it sound urgent (bold, "make an account now"). They really shouldn't have made it sound so urgent.

Image of the letter if you're interested: https://i.imgur.com/sQmf7Et.png
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crc290
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#9
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#9
I would just wait until after you get your results. In the confusion of preparing for uni I actually forgot to set up a student account until the week before I left. Luckily the bank approved my application a lot sooner than they initially said, and I was able to give student finance my details before the first loan payment. As long as they have a set of details on file on that date, there shouldn't be any problem, but obviously don't leave it too late or the bank might not be able to open the account in time
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IneedHelpPlz
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#10
Report 7 years ago
#10
I really need help.. I don't have a bank account at all. I went to a couple banks today and they all said I need to book an appointment to get a bank account. The deadline is today.. I completed all the other parts of it can I complete the bank account details at another time??
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Klix88
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#11
Report 7 years ago
#11
(Original post by IneedHelpPlz)
can I complete the bank account details at another time??
Yes, absolutely. You can go back in and add bank account details at any time. Don't delay submitting your SF application.
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IneedHelpPlz
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#12
Report 7 years ago
#12
(Original post by Klix88)
Yes, absolutely. You can go back in and add bank account details at any time. Don't delay submitting your SF application.
So if I complete my bank details in a few weeks it won't delay my student finance application? Because right now it says its incomplete.. If I put I complete everything will I get my student finance later than everyone else or?
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