The Student Room Group

Should i open a new student account?

Financially screwed atm, need to pay my rent etc and my overdraft is reaching it's limit. I need to make money really quickly as rent is due but I don't know how to. Anyone help please? Should i open a new student account and use a new overdraft or something?
Bumping this for you
Well opening a new one will bring a credit check. So if you are in your Overdraft they may just reject it. Usually a term of condition for student accounts is you will only have one open (regardless of bank) and use it as the main account.

Obviously not doing that could cause your old account to get closed too.

But you can always try, and can always see if the current bank will raise your OD.

Can you potentially not get aid from family ?
Reply 3
Original post by gandalfslipper
Well opening a new one will bring a credit check. So if you are in your Overdraft they may just reject it. Usually a term of condition for student accounts is you will only have one open (regardless of bank) and use it as the main account.

Obviously not doing that could cause your old account to get closed too.

But you can always try, and can always see if the current bank will raise your OD.

Can you potentially not get aid from family ?

Not really, they are not supportive at the moment.

What will it mean if I go past my overdraft limit please? I am getting unwell because of all of this.
Original post by tvdfan
Not really, they are not supportive at the moment.

What will it mean if I go past my overdraft limit please? I am getting unwell because of all of this.


So the more into an overdraft the are the more debt you have that can be off putting for other banks.

Most Universities have hardship funds/grants might be worth applying they are designed for times like this

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