Student Bank Accounts

Watch
lucyclarkie
Badges: 1
Rep:
?
#1
Report Thread starter 2 years ago
#1
Hello, I'm looking into opening a student bank account but am not sure if it's worth it or not? Other than the freebies and the overdraft, is there much point? Thank you!
0
reply
Aztec Chic
Badges: 16
Rep:
?
#2
Report 2 years ago
#2
(Original post by lucyclarkie)
Hello, I'm looking into opening a student bank account but am not sure if it's worth it or not? Other than the freebies and the overdraft, is there much point? Thank you!
I suppose if you don't need any extra money or the freebies aren't that much use to you then no. I guess it's good to have it there as back up especially incase of any unexpected costs
0
reply
Northolt999
Badges: 11
Rep:
?
#3
Report 2 years ago
#3
I personally recommend the Santander 123 Student Account unless you have a lot of money coming in so the interest else where would be better.
0
reply
egdum
Badges: 7
Rep:
?
#4
Report 2 years ago
#4
HSBC is where it's at, really good overdraft options and good freebies
1
reply
lucyclarkie
Badges: 1
Rep:
?
#5
Report Thread starter 2 years ago
#5
(Original post by Aztec Chic)
I suppose if you don't need any extra money or the freebies aren't that much use to you then no. I guess it's good to have it there as back up especially incase of any unexpected costs
So worth getting if you ever think you might run out of money (which I probably will to be honest!)? Thanks for your help
0
reply
Tiger Rag
Badges: 22
Rep:
?
#6
Report 2 years ago
#6
(Original post by lucyclarkie)
So worth getting if you ever think you might run out of money (which I probably will to be honest!)? Thanks for your help
Yes. I used my overdraft a few times. It was there if I needed it.
0
reply
lucyclarkie
Badges: 1
Rep:
?
#7
Report Thread starter 2 years ago
#7
(Original post by Tiger Rag)
Yes. I used my overdraft a few times. It was there if I needed it.
Thank you!
0
reply
lucyclarkie
Badges: 1
Rep:
?
#8
Report Thread starter 2 years ago
#8
(Original post by Northolt999)
I personally recommend the Santander 123 Student Account unless you have a lot of money coming in so the interest else where would be better.
They have good freebies aswell I think, thank you!
0
reply
lucyclarkie
Badges: 1
Rep:
?
#9
Report Thread starter 2 years ago
#9
(Original post by egdum)
HSBC is where it's at, really good overdraft options and good freebies
Thanks for your help!
0
reply
123dr
Badges: 5
Rep:
?
#10
Report 2 years ago
#10
(Original post by egdum)
HSBC is where it's at, really good overdraft options and good freebies

What freebies can you get with HSBC?
0
reply
123dr
Badges: 5
Rep:
?
#11
Report 2 years ago
#11
(Original post by Northolt999)
I personally recommend the Santander 123 Student Account unless you have a lot of money coming in so the interest else where would be better.
I have around 7k coming in. what do you mean by 'so the interest else where would be better'?
0
reply
Northolt999
Badges: 11
Rep:
?
#12
Report 2 years ago
#12
(Original post by 123dr)
I have around 7k coming in. what do you mean by 'so the interest else where would be better'?
For about 7k I would recommend Santander as you get money back for having money coming in what is one of the most generous if you remain in balance.
http://www.santander.co.uk/uk/curren...rrent-account/

Also if you want to see a comparison of a various number of bank accounts please see the two links bellow:
http://www.savethestudent.org/money/...-accounts.html
http://www.moneysavingexpert.com/stu...t-bank-account
0
reply
egdum
Badges: 7
Rep:
?
#13
Report 2 years ago
#13
(Original post by 123dr)
What freebies can you get with HSBC?
£60 Amazon Voucher

1 year Amazon prime

1k overdraft @ 0%
1
reply
Northolt999
Badges: 11
Rep:
?
#14
Report 2 years ago
#14
One thing to remember is that the overdraft rate is the maximum available and depends on many factors with most people not getting the full overdraft facility.
0
reply
123dr
Badges: 5
Rep:
?
#15
Report 2 years ago
#15
(Original post by Northolt999)
For about 7k I would recommend Santander as you get money back for having money coming in what is one of the most generous if you remain in balance.
http://www.santander.co.uk/uk/curren...rrent-account/

Also if you want to see a comparison of a various number of bank accounts please see the two links bellow:
http://www.savethestudent.org/money/...-accounts.html
http://www.moneysavingexpert.com/stu...t-bank-account
oh I see. If they give me money for it, will I have to pay it back?
0
reply
Northolt999
Badges: 11
Rep:
?
#16
Report 2 years ago
#16
(Original post by 123dr)
oh I see. If they give me money for it, will I have to pay it back?
Intrest is free money for you having money in your account. So you do not have to pay it back.
1
reply
Blue_Cow
Badges: 22
Rep:
?
#17
Report 2 years ago
#17
(Original post by 123dr)
oh I see. If they give me money for it, will I have to pay it back?
No.

It's called interest.

Basically, when you put money into a bank account, the bank lends your money to another person. That other person pays interest for taking out a loan with the bank, so the bank makes some profit from your money and therefore the bank shares some of their profit with you in the form of interest.
0
reply
123dr
Badges: 5
Rep:
?
#18
Report 2 years ago
#18
(Original post by Blue_Cow)
No.

It's called interest.

Basically, when you put money into a bank account, the bank lends your money to another person. That other person pays interest for taking out a loan with the bank, so the bank makes some profit from your money and therefore the bank shares some of their profit with you in the form of interest.
I never understood how it works but now I do. Thank you very much for explaining it
1
reply
Hanjacko997
Badges: 1
Rep:
?
#19
Report 2 years ago
#19
Ive just been accepted for a hsbc student account, do you have to go online after to request the overdraft once you've recieved ur online banking details or is the overdraft already there automatically?
0
reply
X

Quick Reply

Attached files
Write a reply...
Reply
new posts
Back
to top
Latest
My Feed

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.

Personalise

Are you worried that a cap in student numbers would affect your place at uni?

Yes (188)
59.68%
No (70)
22.22%
Not sure (57)
18.1%

Watched Threads

View All