Do people have both a normal bank account and a student account?

I am just about to open a student bank account and it was asking me whether I want to switch to Santander does this mean that my hsbc (normal account) would no longer be my account

Basically should I close my hsbc bank account and just have a student one (transfer banks) what do student usually do?

Reply 1

claireestelle

22

Original post by CCUupcake123

I am just about to open a student bank account and it was asking me whether I want to switch to Santander does this mean that my hsbc (normal account) would no longer be my account

Basically should I close my hsbc bank account and just have a student one (transfer banks) what do student usually do?

it's up to you, would it be easier for you to budget if you can have two accounts?

Reply 2

abbiesuzanne

11

I opened a 123 student account with Santander because of the interest-free overdraft and the 16-25 railcard which lasts 4 years! Most of my friends switched to a student account too. It's up to you though :smile:

Whatever suits you best

Reply 3

Mayomikun123

13

I have one to transfer my savings into and then I opened a student account with Santander for student loan and stuff. If you think you will be able to budget with one account then transferring to a student one should be fine. x

Reply 4

CCUupcake123

OP

14

Original post by claireestelle

it's up to you, would it be easier for you to budget if you can have two accounts?

Thank you for your reply! I think I might be easier for me to budget in one

Reply 5

hamza_f

3

Original post by abbiesuzanne

I opened a 123 student account with Santander because of the interest-free overdraft and the 16-25 railcard which lasts 4 years! Most of my friends switched to a student account too. It's up to you though :smile:

Whatever suits you best

Oh wow 4 yrs? How much is the rail card when you join Santander?

Reply 6

CCUupcake123

OP

14

Original post by abbiesuzanne

I opened a 123 student account with Santander because of the interest-free overdraft and the 16-25 railcard which lasts 4 years! Most of my friends switched to a student account too. It's up to you though :smile:

Whatever suits you best

Thank you for your reply! I think I might just use my normal bank account for budgeting and have my student account for the rest

Reply 7

CCUupcake123

OP

14

Original post by hamza_f

Oh wow 4 yrs? How much is the rail card when you join Santander?

I’m pretty sure it’s free, correct me if I’m wrong tho

Reply 8

CCUupcake123

OP

14

Original post by Mayomikun123

I have one to transfer my savings into and then I opened a student account with Santander for student loan and stuff. If you think you will be able to budget with one account then transferring to a student one should be fine. x

Thank you reply! I think I might do the same as you cos I feel like it’ll be easier

Reply 9

JT_888

20

Original post by CCUupcake123

I am just about to open a student bank account and it was asking me whether I want to switch to Santander does this mean that my hsbc (normal account) would no longer be my account

Basically should I close my hsbc bank account and just have a student one (transfer banks) what do student usually do?

Hey, there.

When I opened my student bank account with Santander, I decided to keep my other current account (HSBC) because I felt it would be easier to manage finances that way but it's completely up to you as claireestelle rightly said. :smile:

Reply 10

hamza_f

3

Original post by CCUupcake123

I’m pretty sure it’s free, correct me if I’m wrong tho

Oh for real? So all I'd have to do is make a student account with Santander and I can save £30 per year on buying a rail card?

Reply 11

ONatusch

8

When I opened my student account, I began a new account with Nationwide and kept my savings account as well as my original current account. I very rarely use my old current account, but its useful for some stuff now and again. It really is just personal preference.

Reply 12

artful_lounger

Universities Forum Helper

21

I just had my normal bank account become my student account. When I was no longer a student, it went back to being my regular non-student account without the student account perks.

Reply 13

abbiesuzanne

11

Original post by hamza_f

Oh wow 4 yrs? How much is the rail card when you join Santander?

Can confirm it's completely free :smile:

Reply 14

CCUupcake123

OP

14

Original post by hamza_f

Oh for real? So all I'd have to do is make a student account with Santander and I can save £30 per year on buying a rail card?

Yep pretty much and it’ll last 4 years, that’s why I’m gonna do it cos that’s pretty good deal!

Reply 15

MidgetFever

21

I've always had two - My current account and my student account, it's made it a lot easier to save money that way.

Reply 16

Desideri

17

I stayed with the same bank as I was with before, so they changed my normal current account into a student current account. I kept my normal savings account, and use that to help budget.

The advantage of having both accounts at the same bank is that I can transfer money between them instantly on the app, whereas there's sometimes a short delay when transferring money to friends/family at different banks.

Do people have both a normal bank account and a student account?

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