Need A Second Student Account. Watch

Kingsley
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#1
Report Thread starter 11 years ago
#1
Ive basically got myself into a major pickle, owing my last installment of rent to my accomodation but im all overdrafted out. They want it within the next 7 days and i could easily make the money over summer. Would it be possible to open another student account, I know its not advisable but its a last resort and preferable to a loan, I have a natwest account but cant find terms and conditions!
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Illusionary
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Report 11 years ago
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Here are the T&Cs for your account. The relevant passage is probably this:
Student Account Availability

* The Student Package is available only to permanent UK resident students studying full-time, for a course of at least 2 years duration, or studying a full-time postgraduate course, either at a University or College of higher education in the United Kingdom.
* If confirmation has not been received that you meet the criteria stated above we reserve the right to convert your Student Account to a Current Plus account or other account we believe is suitable for you.
* You must use the Student Account as your main current account and deposit regular amounts by way of local education funding, parental contribution, salary, student loan or other funding, such as sponsorship or bursary. (A permanent UK resident is someone who has been ordinarily - resident in the UK for three years or more.)
I'd imagine most other accounts will have a similar condition - it doesn't explicitly say you can't have a second student account, but by definition you can't have two main current accounts, so you'd be breaking the conditions by having two. You could try, I suppose - the second bank could always just say 'no' - but if you do, then don't try to keep an overdraft balance for any substantial period of time - repay it as soon as you possibly can.
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Kingsley
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Report Thread starter 11 years ago
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Okay ive looked at some accounts and liked the look of the halifax one. But how would i go about doing it, I need to open the account asap, what would i need to do and take with me, bear in mind id be opening a new account with them.
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snu
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#4
Report 11 years ago
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You don't seem to understand. You can't do this. Also, the Halifax account won't give you the £2750 overdraft unless you pay some money into the account first.
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