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    Hey!
    I'm a year 13 student that recently finished school and thinking to take a gap year to reapply to Dentistry but at the same time deferring my entry for Biochemistry (in case I don't get into Dentistry the second time). I want to apply to student finance now (I know the deadline was ages ago..) just in case I change my mind when I see my results on the 18th of August. The only problem is that they want my personal bank account..I don't yet even have a bank account.. So obviously now I'm looking into getting one asap but since I'm so bad when it comes to banks and money management, I decided to ask here someone to kindly explain what to do.
    Basically, I don't even know what to get now.. a normal bank account or a student bank account (what's the difference anyway?) as I don't think I qualify to get neither or do I?... I just went on HSBC website and says I need "unconditional proof of acceptance onto a qualifying course qualifying course i.e. your UCAS slip or letter from your university/college " which I have no idea what it is..Do I need to go to uni in September now to get this?
    As a side note I need this bank account to get paid when I will be working part time in this gap year..
    So can someone answer this questions and maybe just give me an outline on how to use a bank account.. I know it sounds stupid but I honestly don't understand anything, like does the government pay you maintenance loan on this student bank card and you can also earn money from part time job and they go on the card? Also what is this UCAS status code I received by email?
    Thank you so much for reading this long message ! Your help would be much appreciated
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    Go to your/a bank and tell them your situation. What'll likely happen is they'll open you a standard/current account seeing as you don't have your acceptance letter from the University yet. Come results day in August, you should receive the unconditional offer and letter of acceptance (if you're accepted) a few days after results. You can go to the bank and they should either change your account to a Student account or just open a separate student account, it doesn't really matter. I'd definitely go for the student account, you'll be allocated an interest free overdraft and depending on the bank, other bonus's too. I know one bank offers a free rail card. HSBC offered me £1000 overdraft for my first year and also a £60 amazon voucher. Do choose carefully which bank you want to go with as it's a lifetime choice.You want to open a standard bank account straight away though, so that you can put some bank details on your student finance. Student finance are known to be a ***** around that time of the year, when you'll need your maintenance loan to come in and chances are it's delayed. Better sorting it out now.

    As far as where the money goes, your tuition fees go directly to the university. The maintenance will go into the account you provide on the SFE website. Yes you can use this account to both receive your maintenance loan, and also earn some money from a part time job. Do bare in mind that if you're starting your course next year, instead of this year then you'll most likely have to apply for student finance next year.
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    Thank you so much for replying so quickly!! (and sorry for this late reply)So basically should I make an appointment with a bank in order to tell them my situation - then I ask for a standard bank account which will turn into a student bank account when I receive that UCAS acceptance letter - right? However, do you also know whether there'll be a problem in making the bank account or receiving that acceptance letter due to the fact that I will defer my entry at uni (as I'm reapplying at another at the same time) ?Also I have a couple of other questions if you don't mind.. So does interest free overdraft mean that if I go over the money I have on my card then I won't have to pay extra when I pay them back, just the exact money that I took, right?I'm a bit scared now that you said it's a lifetime choice, to choose which one.. I came across this link on student room where it explains the differences between all the banks.. But could you give me a piece of advice when choosing? As I don't just want to go with a bank just because of a slightly better advantage at the beginning.. I'm thinking at the long term advantages too..does that even make sense? Furthermore, do you know whether when opening a bank account you must have passport, or is an identity card enough? As I'm an EU national and I have never needed a passport for anything as the id was the same.. I am thinking of getting one though, but it will have to be in my country and that's only possible when I'll go in holiday later next year..Regarding the student loan, I know it's very advised to apply as early as possible, however I actually cannot apply any earlier than the beginning of July next year (I have to reapply) because this is when I will have 5 years of residency here.. But it's worth receiving maintenance loan even with delay, because at least I still get it..isn't it?Thank you again I appreciate lots the help on this website!
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    (Original post by AR_95)
    Do choose carefully which bank you want to go with as it's a lifetime choice
    :confused: I've changed banks twice with no hassle.
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    (Original post by ciupi97)
    Thank you so much for replying so quickly!! (and sorry for this late reply)So basically should I make an appointment with a bank in order to tell them my situation - then I ask for a standard bank account which will turn into a student bank account when I receive that UCAS acceptance letter - right? However, do you also know whether there'll be a problem in making the bank account or receiving that acceptance letter due to the fact that I will defer my entry at uni (as I'm reapplying at another at the same time) ?Also I have a couple of other questions if you don't mind.. So does interest free overdraft mean that if I go over the money I have on my card then I won't have to pay extra when I pay them back, just the exact money that I took, right?I'm a bit scared now that you said it's a lifetime choice, to choose which one.. I came across this link on student room where it explains the differences between all the banks.. But could you give me a piece of advice when choosing? As I don't just want to go with a bank just because of a slightly better advantage at the beginning.. I'm thinking at the long term advantages too..does that even make sense? Furthermore, do you know whether when opening a bank account you must have passport, or is an identity card enough? As I'm an EU national and I have never needed a passport for anything as the id was the same.. I am thinking of getting one though, but it will have to be in my country and that's only possible when I'll go in holiday later next year..Regarding the student loan, I know it's very advised to apply as early as possible, however I actually cannot apply any earlier than the beginning of July next year (I have to reapply) because this is when I will have 5 years of residency here.. But it's worth receiving maintenance loan even with delay, because at least I still get it..isn't it?Thank you again I appreciate lots the help on this website!
    Goddamn but did you mess up. if you had applied in time, it would've been 3 years and you would have gotten full maintenance. The maintenance loan is given depending on your residency at the start of your course so if you start this year, you will not get it at all for any of the 3-4 years your course is. If you want to get the loan, which I recommend, you will have to wait for next year entry.

    As for the bank account, you can get a currents one which is just a regular one. They do need some information from you like ID and, since you're EU national, usually support from someone who has a bank account or a letter from school/college/work. What exactly is needed can be found on bank websites as it varies slightly by bank.
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    (Original post by Tiger Rag)
    :confused: I've changed banks twice with no hassle.
    Sorry I've worded that wrong. You don't want to sign up to any bank though and OP should take time to search up the pros/cons of each bank first.
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    (Original post by ciupi97)
    Hey!
    I'm a year 13 student that recently finished school and thinking to take a gap year to reapply to Dentistry but at the same time deferring my entry for Biochemistry (in case I don't get into Dentistry the second time). I want to apply to student finance now (I know the deadline was ages ago..) just in case I change my mind when I see my results on the 18th of August. The only problem is that they want my personal bank account..I don't yet even have a bank account.. So obviously now I'm looking into getting one asap but since I'm so bad when it comes to banks and money management, I decided to ask here someone to kindly explain what to do.
    Basically, I don't even know what to get now.. a normal bank account or a student bank account (what's the difference anyway?) as I don't think I qualify to get neither or do I?... I just went on HSBC website and says I need "unconditional proof of acceptance onto a qualifying course qualifying course i.e. your UCAS slip or letter from your university/college " which I have no idea what it is..Do I need to go to uni in September now to get this?
    As a side note I need this bank account to get paid when I will be working part time in this gap year..
    So can someone answer this questions and maybe just give me an outline on how to use a bank account.. I know it sounds stupid but I honestly don't understand anything, like does the government pay you maintenance loan on this student bank card and you can also earn money from part time job and they go on the card? Also what is this UCAS status code I received by email?
    Thank you so much for reading this long message ! Your help would be much appreciated
    Its time to wise up to the real world. No more studying here. But you do need to know the basics and a bank account is right in there. Any bank account will do, but some offer special facilities and service to students which are definitely worth having. Interest free overdrafts, free railcards and more besides. For an authoritative view on anything money, go here but start with bank accounts:

    http://www.moneysavingexpert.com/stu...t-bank-account

    Good luck!
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    (Original post by ByEeek)
    Its time to wise up to the real world. No more studying here. But you do need to know the basics and a bank account is right in there. Any bank account will do, but some offer special facilities and service to students which are definitely worth having. Interest free overdrafts, free railcards and more besides. For an authoritative view on anything money, go here but start with bank accounts:

    http://www.moneysavingexpert.com/stu...t-bank-account

    Good luck!
    Thanks for the website I was currently looking on it (knew about it from a teacher last year but never gave it a try)
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    You don't need a student account if you do go uni but you do need to have a current account (typical account). If I were you I'd apply for one right away as setting up your first account can take some time.

    Student loan goes into a normal account. Student account is only really there for the no interest overdraft which you might end up having to use while at uni.

    No point getting a normal account and then swapping it for a student account. You're better off then having two accounts. One current and one student account
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    (Original post by ciupi97)
    Thanks for the website I was currently looking on it (knew about it from a teacher last year but never gave it a try)
    Good on you. If I have any questions or queries money wise, I always start here. It is always bang up-to-date and contains excellent advice.
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    (Original post by katherine9609)
    You don't need a student account if you do go uni but you do need to have a current account (typical account). If I were you I'd apply for one right away as setting up your first account can take some time.

    Student loan goes into a normal account. Student account is only really there for the no interest overdraft which you might end up having to use while at uni.

    No point getting a normal account and then swapping it for a student account. You're better off then having two accounts. One current and one student account
    Thanks for the help
    Well since I'm taking a gap year I won't be able to get a student account anyway, right? So will start a standard one as soon as I can; I've been advised to go with Santander as it's apparently pretty good, do you agree?
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    (Original post by Devify)
    Goddamn but did you mess up. if you had applied in time, it would've been 3 years and you would have gotten full maintenance. The maintenance loan is given depending on your residency at the start of your course so if you start this year, you will not get it at all for any of the 3-4 years your course is. If you want to get the loan, which I recommend, you will have to wait for next year entry.

    As for the bank account, you can get a currents one which is just a regular one. They do need some information from you like ID and, since you're EU national, usually support from someone who has a bank account or a letter from school/college/work. What exactly is needed can be found on bank websites as it varies slightly by bank.
    Hahaha very dramatic you! I didn't actually mess up with student finance, you must have misunderstood what I said. Basically I didn't even need to apply for SF this year as I knew before even you could apply for it that I'm going to take a gap year to reapply for Dentistry. When you take a gap year and want to go uni the following year, even if you applied when before it doesn't matter as you must apply again for it. I called them to ask about this because obviously I knew about the 3 years requirement changing to 5, but they said when I reapply it will be 5 anyway. There's a problem when applying next year however as requiring 5 years means I will have to apply 'with intentional delay' missing the deadline (which my headteacher said it doesn't matter- you can apply even 9 months after the course started) because I'll need to wait until I have exactly 5 years which unfortunately is at the beginning of July 2017, not in May..
    Do you mean that I could get help from my parents which have a bank account?
    Thanks
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    (Original post by ciupi97)
    Thanks for the help
    Well since I'm taking a gap year I won't be able to get a student account anyway, right? So will start a standard one as soon as I can; I've been advised to go with Santander as it's apparently pretty good, do you agree?
    That's right. You're going to have to wait until your place next year is confirmed until you can get a student account.

    Yeah Santander is one of the really good banks so if you can open an account with them, then go for it
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    (Original post by ciupi97)
    Hahaha very dramatic you! I didn't actually mess up with student finance, you must have misunderstood what I said. Basically I didn't even need to apply for SF this year as I knew before even you could apply for it that I'm going to take a gap year to reapply for Dentistry. When you take a gap year and want to go uni the following year, even if you applied when before it doesn't matter as you must apply again for it. I called them to ask about this because obviously I knew about the 3 years requirement changing to 5, but they said when I reapply it will be 5 anyway. There's a problem when applying next year however as requiring 5 years means I will have to apply 'with intentional delay' missing the deadline (which my headteacher said it doesn't matter- you can apply even 9 months after the course started) because I'll need to wait until I have exactly 5 years which unfortunately is at the beginning of July 2017, not in May..
    Do you mean that I could get help from my parents which have a bank account?
    Thanks
    You don't need to apply late. They calculate it from the course start date so if you apply in march, you will just need to show you being in uk from September 2012(?) To the date that you've applied and since you're applying for uni it's assumed you're not going to leave anytime soon.

    For the bank account, most just need your ID and address if you are going to work and a letter confirming your place if you're studying. So you should be able to get any regular current account. Some banks require extra information since you're EU national. For example, I had a friend who came here to find a job but they wouldn't give her an account until she got a job and showed them proof of it to make sure she's staying in the country. And another one had to have someone who has had an account with them for at least 6months to support her application.

    But considering you've been in the country for so long it should be fine.
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    (Original post by katherine9609)
    That's right. You're going to have to wait until your place next year is confirmed until you can get a student account.

    Yeah Santander is one of the really good banks so if you can open an account with them, then go for it
    Thank you for the help, I appreciate
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    (Original post by Devify)
    You don't need to apply late. They calculate it from the course start date so if you apply in march, you will just need to show you being in uk from September 2012(?) To the date that you've applied and since you're applying for uni it's assumed you're not going to leave anytime soon.

    For the bank account, most just need your ID and address if you are going to work and a letter confirming your place if you're studying. So you should be able to get any regular current account. Some banks require extra information since you're EU national. For example, I had a friend who came here to find a job but they wouldn't give her an account until she got a job and showed them proof of it to make sure she's staying in the country. And another one had to have someone who has had an account with them for at least 6months to support her application.

    But considering you've been in the country for so long it should be fine.
    Oh wow really didn't know that! Thanks so much Do you recommend ringing SF just to be sure that I can apply like you said? Because obviously if I can, then as soon as they start receiving applications I will apply straight away. I thought I need to wait until the time I arrived here which is in july 2012 in order to apply with that new requirement of 5 years of residency, but actually it would be better if it's like you said as I can only prove I moved here at the of beginning September 2012 when we moved into our house (stayed at relatives until that so of course no bills from our house) . The earliest water bill is from 2nd of September and that's very important document to keep as evidence right?
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    Oh wow really didn't know that! Thanks so much Do you recommend ringing SF just to be sure that I can apply like you said? Because obviously if I can, then as soon as they start receiving applications I will apply straight away. I thought I need to wait until the time I arrived here which is in july 2012 in order to apply with that new requirement of 5 years of residency, but actually it would be better if it's like you said as I can only prove I moved here at the of beginning September 2012 when we moved into our house (stayed at relatives until that so of course no bills from our house) . The earliest water bill is from 2nd of September and that's very important document to keep as evidence right?
    When I applied the application literally said to state the dates from September 2013 to the current date and mine was fine.

    It is 5 years before the course start date not 5 years before your application. For courses starting August - November (if I'm not mistaken), the course start date is considered 1st September. Even if they want you to wait until you've been in the country, there's nothing wrong with having the application submitted. They can take a while and request more information, they don't just refuse them because you don't meet the requirements yet.

    The only thing that you might want to think about is the amount of proof they want to show you've been in the country. You need to have proof for every single day. I sent in a letter from college cause I was studying those whole 3 years but because I had 1 summer in between while not registered on a course so it wasn't covered by the letter, I had to find bank statements for those 2 months.
 
 
 
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