Cifas marker Watch

Tamzy_344
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#1
Report Thread starter 11 months ago
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I am currently studying in first year of college and I am worried about my student loan and maintenance loan as with my perivious bank I had lost my card and soon after my bank had closed my account and with further investigation they have made the decision to close my account.I have been told I have a Cifas marker and that it last 6 years I have looked into serveral bank account that accept people with this marker but I am unsure if student finance will accept these bank accounts as most of them are prepaid.
I would like to know what kind of account you have to have which is approved by student finance and how this marker can affect my student loan and maintenance loan ?
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Rona SFE
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Report 11 months ago
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(Original post by Tamzy_344)
I am currently studying in first year of college and I am worried about my student loan and maintenance loan as with my perivious bank I had lost my card and soon after my bank had closed my account and with further investigation they have made the decision to close my account.I have been told I have a Cifas marker and that it last 6 years I have looked into serveral bank account that accept people with this marker but I am unsure if student finance will accept these bank accounts as most of them are prepaid.
I would like to know what kind of account you have to have which is approved by student finance and how this marker can affect my student loan and maintenance loan ?

Hi Tamzy_344,

Everyone should be entitled to a basic bank account that will accept bank transfers. You should speak to your bank regarding opening such an account.

Regards Rona
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Tamzy_344
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Report Thread starter 11 months ago
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I have tired to apply to other bank for basic bank account but it’s not possible until I reach 4 years but I have found prepaid bank accounts that give me the same access however I am unsure if student finance will accept this type of account
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Rona SFE
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(Original post by Tamzy_344)
I have tired to apply to other bank for basic bank account but it’s not possible until I reach 4 years but I have found prepaid bank accounts that give me the same access however I am unsure if student finance will accept this type of account
Hi Tamzy_344,

Student funding payments must be paid to a bank account in your own name. If you have a poor credit score you may have difficulties opening a bank account. You can apply to a bank or building society for an account, however an alternative would be a 'prepaid' bank account or a Post Office account (if you are in receipt of certain benefits).and that would be acceptable.Regards Rona
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Tamzy_344
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Report Thread starter 11 months ago
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(Original post by Rona SFE)
Hi Tamzy_344,

Student funding payments must be paid to a bank account in your own name. If you have a poor credit score you may have difficulties opening a bank account. You can apply to a bank or building society for an account, however an alternative would be a 'prepaid' bank account or a Post Office account (if you are in receipt of certain benefits).and that would be acceptable.Regards Rona
Thank you so much for that information because I have found those solutions but wasn’t sure if they accepted it but thanks for the reassurance
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