Hey there! Sign in to join this conversationNew here? Join for free

Multiple Student Bank Accounts 2014/15 Watch

    • Thread Starter
    Offline

    0
    ReputationRep:
    Since some student account T&Cs don't necessarily stop you from having more than one student account(i.e. by saying a certain amount has to be paid in each term), I'm interested in opening more than one (Yes I'm good with managing money).
    So i was wondering to know if anybody else is also doing this and can give me a few pointers.
    Also I've already done a research on potential student and saving accounts but it would be helpful if you could tell me which ones you're using as well.
    Cheers.
    • TSR Support Team
    • Very Important Poster
    Offline

    21
    ReputationRep:
    Moved to Money and Finance
    • Thread Starter
    Offline

    0
    ReputationRep:
    Sorry totally new here.
    I was just looking into deleting it and posting a new one under this topic.
    Thanks
    Offline

    1
    ReputationRep:
    (Original post by dynostatic)
    Since some student account T&Cs don't necessarily stop you from having more than one student account(i.e. by saying a certain amount has to be paid in each term), I'm interested in opening more than one (Yes I'm good with managing money).
    So i was wondering to know if anybody else is also doing this and can give me a few pointers.
    Also I've already done a research on potential student and saving accounts but it would be helpful if you could tell me which ones you're using as well.
    Cheers.
    There's no secret or anything behind it. You just literally apply.

    I've got 2 Student Accounts open where I'm getting perks/overdrafts and I may open another.
    • Thread Starter
    Offline

    0
    ReputationRep:
    (Original post by OllieDS)
    There's no secret or anything behind it. You just literally apply.

    I've got 2 Student Accounts open where I'm getting perks/overdrafts and I may open another.
    Nice one, do you have to shuffle your funds around from one account to another ?
    and also can i ask which two you're using atm.
    cheers
    Offline

    1
    ReputationRep:
    (Original post by dynostatic)
    Nice one, do you have to shuffle your funds around from one account to another ?
    and also can i ask which two you're using atm.
    cheers
    Don't really have to do much shuffling, just make sure you have typically £500 in each every term. It's incredibly easy as long as you get Online Banking on all of them.

    I have a Santander Account = 4 Year Railcard (Amazing) + £1,500 overdraft.

    I also have a Natwest Account = Tastecard (50% off food almost everywhere) + £2,000 overdraft.

    I definitely suggest these two!
    Offline

    2
    ReputationRep:
    I've got a Barclays student account and I'm planning on upgrading my Santander one as well before I go uni. The Santander one will probably be my main account that loans are paid into


    Check out TSR Movie Madness
    • Thread Starter
    Offline

    0
    ReputationRep:
    yeah.... I've got Santander and Natwest on my list but very tempted to open an account with Halifax too, as the overdraft can go up to £3000.
    might have to do it in the second term though, don't want to ruin my credit score.
    • Thread Starter
    Offline

    0
    ReputationRep:
    (Original post by mynameisntbobk)
    I've got a Barclays student account and I'm planning on upgrading my Santander one as well before I go uni. The Santander one will probably be my main account that loans are paid into


    Check out TSR Movie Madness
    hows Barclays customer service ?
    heard bad reviews from people.
    also was the agreed overdrafts (the full amount after money was paid in) accessible from the first term ?

    cheers
    Offline

    2
    ReputationRep:
    (Original post by dynostatic)
    hows Barclays customer service ?
    heard bad reviews from people.
    also was the agreed overdrafts (the full amount after money was paid in) accessible from the first term ?

    cheers
    Haven't actually had money paid in yet so can't answer that second question but I was told that you'd have to arrange the overdraft with the bank after it's been paid in so like they'd call you

    Costumer service for me has always been great, much better than Santander IMO. I haven't had a problem that they couldn't sort out


    Check out TSR Movie Madness
    • Thread Starter
    Offline

    0
    ReputationRep:
    (Original post by mynameisntbobk)
    Haven't actually had money paid in yet so can't answer that second question but I was told that you'd have to arrange the overdraft with the bank after it's been paid in so like they'd call you

    Costumer service for me has always been great, much better than Santander IMO. I haven't had a problem that they couldn't sort out


    Check out TSR Movie Madness
    Ahh ok ...thanks. I'm only getting the Santander one for the railcard TBH.
    BTW I thought you needed to have a confirmed place from your Uni in order to open an account. Unless of course you have an unconditional offer.
    Offline

    4
    ReputationRep:
    If you touch your overdraft does it affect your credit score? Sorry I'm really ignorant in this area...
    • Thread Starter
    Offline

    0
    ReputationRep:
    (Original post by Faye_m)
    If you touch your overdraft does it affect your credit score? Sorry I'm really ignorant in this area...
    Not as long as you pay it back in time, even if you max out the full amount every year.
    Offline

    2
    ReputationRep:
    (Original post by Faye_m)
    If you touch your overdraft does it affect your credit score? Sorry I'm really ignorant in this area...
    I'm pretty sure it doesn't, well at least not negatively. As long as you don't go over your arranged overdraft and keep money coming in as well as out, you should be fine

    (Original post by dynostatic)
    Ahh ok ...thanks. I'm only getting the Santander one for the railcard TBH.
    BTW I thought you needed to have a confirmed place from your Uni in order to open an account. Unless of course you have an unconditional offer.
    Yeah same, plus I've been with them since they were abbey national so it'll be effort finding another bank- I think their student account is quite decent. And nah I went in the day after my 18th and just upgraded the account. You need your ucas letter telling them you have an offer and you've firmed it and ID


    Check out TSR Movie Madness
    • Thread Starter
    Offline

    0
    ReputationRep:
    Any thoughts on the HSBC student account ?
    Offline

    0
    ReputationRep:
    Kinda related question. I already got a student bank account with RBS and an overdraft with them. Can i open another account now with santander or someone else and get an overdraft? I checked with santander on their website and it says you need to be just starting first year?
    • Thread Starter
    Offline

    0
    ReputationRep:
    Posted from TSR Mobile

    Yes, but if they ask you "do you already have a student account?" Which they probably will.you may have to not tell the truth if you want a second account.

    My advice: try doing it online anyway, you dont have anything to lose.
    Offline

    0
    ReputationRep:
    I have a student account with one bank and tried opening a student account with another today. Firstly make sure both banks aint in the same banking group because they will share information and find you out straight away. Secondly try and open both accounts near enough the same time. If you open one first year then try open another 6+ months, you could get found out when they ask for proof (bank statement) showing if you have another student account or not. If you manage to open two account, you should be find as long as you following the terms of the account by putting money in and out.
    Offline

    0
    ReputationRep:
    Whats stopping me opening accounts with every bank then declaring bankruptcy when I leave Uni as poor student with no possessions/property?
    Offline

    20
    ReputationRep:
    (Original post by LFC5X)
    Whats stopping me opening accounts with every bank then declaring bankruptcy when I leave Uni as poor student with no possessions/property?
    Youd have to prove it. HSBC wouldnt let me open a student account it seemed, so I opened another with Santander

    Santander: Do you have another student account elsewhere
    Me: No

    I definitely dont have a £2000 OD at the Co-Op bank, that I then threw in to TSB to make me 5%/year

    So... free £2000 and another free £1500 from Santander
 
 
 
  • See more of what you like on The Student Room

    You can personalise what you see on TSR. Tell us a little about yourself to get started.

  • Poll
    What newspaper do you read/prefer?
    Useful resources
    How much money do you spend a week?The ultimate guide to tax!Guide to student bank accounts

    Sponsored features:

    Web Legend

    Win a Macbook Air!

    Blog about setting up a website for a chance to win in our Web Legend competition.

    Quick link:

    Unanswered money and finance threads

    Groups associated with this forum:

    View associated groups
  • See more of what you like on The Student Room

    You can personalise what you see on TSR. Tell us a little about yourself to get started.

  • The Student Room, Get Revising and Marked by Teachers are trading names of The Student Room Group Ltd.

    Register Number: 04666380 (England and Wales), VAT No. 806 8067 22 Registered Office: International House, Queens Road, Brighton, BN1 3XE

    Quick reply
    Reputation gems: You get these gems as you gain rep from other members for making good contributions and giving helpful advice.