Is it worth having a student bank account if I won't be getting a student loan?

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username2911200
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My parents will be paying my tution fees upfront so I won't be taking out a tuition fee loan. I won't be taking out a maintenance loan either since my parents have a lot of money and they let me do what I want with it. I have multiple bank accounts in my name with their money that I know aren't ever going to to run out. They continuously just put large amounts of money into my account and it doesn't bother them at all. Along with current accounts I have a lot of savings accounts that have ridiculous amounts of money in.

I won't need an overdraft or any of the other benefits that come with student bank accounts. Is it worth having a student bank account anyway or should I not bother?
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Anonymous #1
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think no one's replied because of the amount of times you unnecessarily stated you are well off and surely have that silver spoon still stuck up your arse
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username2911200
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(Original post by Anonymous)
think no one's replied because of the amount of times you unnecessarily stated you are well off and surely have that silver spoon still stuck up your arse
I was trying to give the background of why I won't be taking out any loans, as there will be people who think I should take them anyway, just in case. I definitely don't want to do that. Did you really have to go anon to insult me?
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HT2412
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(Original post by Glassapple)
My parents will be paying my tution fees upfront so I won't be taking out a tuition fee loan. I won't be taking out a maintenance loan either since my parents have a lot of money and they let me do what I want with it. I have multiple bank accounts in my name with their money that I know aren't ever going to to run out. They continuously just put large amounts of money into my account and it doesn't bother them at all. Along with current accounts I have a lot of savings accounts that have ridiculous amounts of money in.

I won't need an overdraft or any of the other benefits that come with student bank accounts. Is it worth having a student bank account anyway or should I not bother?
Even if you did take out a tuition fee loan, this money would never go onto your bank account anywhere. The funds are transferred directly from student finance England to the university.

Maintenance loans are paid into your bank, but as you're not taking one out that's not important.

I can't see any reason for you to open a student bank account personally, so long as you gave a working bank account so you can pay money by bank transfer (main function of an account) then you should be fine.
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Paracosm
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Nope. It will serve zero benefit to you.
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username2911200
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(Original post by Paracosm)
Nope. It will serve zero benefit to you.
Do I have to do anything to prevent having one?
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mattchaamp
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(Original post by Glassapple)
Do I have to do anything to prevent having one?
Are you an idiot? Stop asking stupid questions.
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username2911200
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(Original post by HT2412)
Even if you did take out a tuition fee loan, this money would never go onto your bank account anywhere. The funds are transferred directly from student finance England to the university.

Maintenance loans are paid into your bank, but as you're not taking one out that's not important.

I can't see any reason for you to open a student bank account personally, so long as you gave a working bank account so you can pay money by bank transfer (main function of an account) then you should be fine.
Thank you. I knew tuition fee loans are transferred directly to universities and not into students' bank accounts, though I wasn't sure if having dealt with SFE to any extent would trigger a response from a bank for a student account.

(Original post by mattchaamp)
Are you an idiot? Stop asking stupid questions.
When my sister started university Lloyds automatically turned her current account with them into a student account without asking her. I'm not an idiot.
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mattchaamp
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(Original post by Glassapple)
When my sister started university Lloyds automatically turned her current account with them into a student account without asking her. I'm not an idiot.
That's a lie and you know it.
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bones-mccoy
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(Original post by Glassapple)
When my sister started university Lloyds automatically turned her current account with them into a student account without asking her. I'm not an idiot.
I'm with Lloyds and started uni 7 years ago, I had to give them proof that I had been given a place at a university before opening a student bank account with them i.e a letter from UCAS confirming my place. Maybe it has changed now though.
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username2911200
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(Original post by bones-mccoy)
I'm with Lloyds and started uni 7 years ago, I had to give them proof that I had been given a place at a university before opening a student bank account with them i.e a letter from UCAS confirming my place. Maybe it has changed now though.
She started earlier than that, maybe she forgot what happened or our parents did something without her knowledge.
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spidle
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Yeah take the maintenance loan (max amount availabe for you) since it's the best loan you'll ever get - it's basically a free lump sum. Then again you are in no need of extra funds..
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doodle_333
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There's no point. The free overdraft and free gifts are often worth having but it sounds like the money wouldn't be useful or worthwhile or necessary for you so why bother? They usually require proof before switching you to a student account but I don't think you'd actually lose anything by having one so don't worry about it being transferred.
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kkboyk
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(Original post by Glassapple)

I won't need an overdraft or any of the other benefits that come with student bank accounts. Is it worth having a student bank account anyway or should I not bother?
Pretty much answered your own question there. If you're not up for any of the benefit, then it's just a regular debit account
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drsfgdg
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(Original post by kkboyk)
Pretty much answered your own question there. If you're not up for any of the benefit, then it's just a regular debit account
In fairness a few have good interest rates when in balance compared to the normal bank accounts
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