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

Should I open a new bank account for student loans and who with? Watch

    • Thread Starter
    Offline

    12
    ReputationRep:
    As the title says really, I've heard stories of students having a separate bank account for their student finance?

    If this is a good idea then who should I be looking to to get the best rewards and overdraft options etc?
    • Section Leader
    • Very Important Poster
    • Peer Support Volunteers
    • Clearing and Applications Advisor
    Online

    21
    ReputationRep:
    Section Leader
    Very Important Poster
    Peer Support Volunteers
    Clearing and Applications Advisor
    (Original post by liquity)
    As the title says really, I've heard stories of students having a separate bank account for their student finance?

    If this is a good idea then who should I be looking to to get the best rewards and overdraft options etc?
    Santander supposedly has the highest overdraft for students
    • Thread Starter
    Offline

    12
    ReputationRep:
    (Original post by claireestelle)
    Santander supposedly has the highest overdraft for students
    Yeah it seems to be the most recommended student account so I'll probably go for that, but I'm not 18 until the end of August so can't open it until then!
    • Section Leader
    • Very Important Poster
    • Peer Support Volunteers
    • Clearing and Applications Advisor
    Online

    21
    ReputationRep:
    Section Leader
    Very Important Poster
    Peer Support Volunteers
    Clearing and Applications Advisor
    (Original post by liquity)
    Yeah it seems to be the most recommended student account so I'll probably go for that, but I'm not 18 until the end of August so can't open it until then!
    I think you d have that problem with every bank but as long as you change your details a few days before your loans due you ve nothing to worry about
    Offline

    18
    ReputationRep:
    I opened a second account just to switch banks. Made about 300 already and 200 or moreso left in available switches. I would bank with Santander / Co Op with a student account, and just get the one with the largest overdraft.
    • Thread Starter
    Offline

    12
    ReputationRep:
    (Original post by TrojanH)
    I opened a second account just to switch banks. Made about 300 already and 200 or moreso left in available switches. I would bank with Santander / Co Op with a student account, and just get the one with the largest overdraft.
    Thank you, I will do just that when the time comes.
    Offline

    14
    ReputationRep:
    santander
    Offline

    16
    ReputationRep:
    Only to echo Santander; plus the railcard included is fab.
    Offline

    3
    ReputationRep:
    My student account is with the co-op, and they offer a £2000 overdraft limit, which is good for me. I'd also recommend opening a credit card, such as with marbles, but do this only after you have had your student account confirmed, thanks??
 
 
 
  • 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's your favourite Christmas sweets?
    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.