Student bank account with Santander

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x.ella.x
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I am trying to fill out the student bank account form for Santander but I am finding it a bit confusing. Could anyone help me?
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Plagioclase
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(Original post by x.ella.x)
I am trying to fill out the student bank account form for Santander but I am finding it a bit confusing. Could anyone help me?
What are you finding confusing?
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x.ella.x
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(Original post by Plagioclase)
What are you finding confusing?
There is a question on what my monthly income sources would be. Does that include the maintenance loan or not?

Secondly, what would the purpose of the account be? The options are a main bank account, secondary ", savings or other. Then from this, it asks how much cash I will deposit each month. I was confused here because does this include the maintenance loan too, or is this generally.
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Plagioclase
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(Original post by x.ella.x)
There is a question on what my monthly income sources would be. Does that include the maintenance loan or not?

Secondly, what would the purpose of the account be? The options are a main bank account, secondary ", savings or other. Then from this, it asks how much cash I will deposit each month. I was confused here because does this include the maintenance loan too, or is this generally.
Yes I think you would include the maintenance loan, I'd include all sources of income that you'd actually "see" (e.g. not the loan for course fees since that goes directly to the university, but the maintenance loan goes directly to you). Any money you get from your parents or part-time jobs would also count. Guess the rough monthly average (e.g. if your maintenance loan is £4000 per year, that's about £330 per month, even though it's not paid monthly).

If you're intending to use it as your main bank account then pick "main bank account", or if you have another bank account already that you intend to keep as your main bank account, then pick "secondary". I'm guessing you're not intending to use this bank account as a savings account, you'd know if you were.

If this is your only bank account then "how much cash you'll deposit per month" is probably the same as your monthly income. If you have multiple bank accounts then just guess how much money you'll pay into this one (e.g. if your total income is £500 per month and you're intending to deposit roughly £400 per month in this new bank account and £100 per month into another bank account you have, you'd do "£500" for monthly income sources, and "£400" for how much you'll deposit per month).

Don't stress too much about these numbers - they don't have to be exact. They mainly just want to check that you're going to have some income source (which you do) and that you're not going to be depositing a ludicrous amount of money.
Last edited by Plagioclase; 1 month ago
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x.ella.x
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(Original post by Plagioclase)
Yes I think you would include the maintenance loan, I'd include all sources of income that you'd actually "see" (e.g. not the loan for course fees since that goes directly to the university, but the maintenance loan goes directly to you). Any money you get from your parents or part-time jobs would also count. Guess the rough monthly average (e.g. if your maintenance loan is £4000 per year, that's about £330 per month, even though it's not paid monthly).

If you're intending to use it as your main bank account then pick "main bank account", or if you have another bank account already that you intend to keep as your main bank account, then pick "secondary". I'm guessing you're not intending to use this bank account as a savings account, you'd know if you were.

If this is your only bank account then "how much cash you'll deposit per month" is probably the same as your monthly income. If you have multiple bank accounts then just guess how much money you'll pay into this one (e.g. if your total income is £500 per month and you're intending to deposit roughly £400 per month in this new bank account and £100 per month into another bank account you have, you'd do "£500" for monthly income sources, and "£400" for how much you'll deposit per month).

Don't stress too much about these numbers - they don't have to be exact. They mainly just want to check that you're going to have some income source (which you do) and that you're not going to be depositing a ludicrous amount of money.
Thanks so much. That's really helpful!
Last edited by x.ella.x; 1 month ago
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martin7
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(Original post by x.ella.x)
Secondly, what would the purpose of the account be? The options are a main bank account, secondary ", savings or other.
Bear in mind that the Santander "Key Facts" document for the 1|2|3 Student Current Account (here) states that "The account must be used as your main or primary current account." -- so you should probably state that it will be your main bank account.
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