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do i still get a student account despite not getting a loan Watch

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    i want a student account, i want the one with the free railcard and i guess having an overdraft will be helpful..but im not getting any loans, so do i have to put a certain amount in a student account or something??
    i have money in a building society and my mum will give me some money but i thought id take it out or ask for it in dribs and drabs when i need it.
    so do i have to put alot of money of my own in if im not getting a loan?
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    no you dont need to put lots of money into it. you just have to use it as your main account while at uni.

    natwest have 5 year railcards btw.
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    (Original post by never killed a man)
    no you dont need to put lots of money into it. you just have to use it as your main account while at uni.

    natwest have 5 year railcards btw.
    do i have to pay them anything or does the bank just earn their money from students who go into horrific debt?
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    (Original post by boredyay)
    do i have to pay them anything or does the bank just earn their money from students who go into horrific debt?
    No you don't pay them anything and as long as you're a student you can have a student account. Just use it as your main account (pay in wages and other money you get)
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    (Original post by boredyay)
    do i have to pay them anything or does the bank just earn their money from students who go into horrific debt?
    You don't have to pay anything. The reason student accounts are so good is because customer loyalty to a bank is generally pretty high. On average, graduates earn more so if they can get you while a student, chances are you'll stay with them later on in life when you get things like a mortgage, which is really where they coin it.
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    All you have to do is show the bank proof that you are a student and you will be entitled to the account - it doesn't matter how much money goes in, because most student end up constantly in their overdrafts anyway.
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    I think NatWest (for example) have certain criteria on usage - but they're pretty low, so long as you use the account fairly regularly you should be alright.
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    (Original post by ~ Mandy ~)
    All you have to do is show the bank proof that you are a student and you will be entitled to the account - it doesn't matter how much money goes in, because most student end up constantly in their overdrafts anyway.
    It's probably worth pointing out that while you're entitled to apply for the account, they'd still be well within their rights to refuse you (though refusal is unlikely for most people).
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    I read that you have to use them as your only student account otherwise they won't renew your railcard every year.
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    (Original post by Flying-Wombat)
    I read that you have to use them as your only student account otherwise they won't renew your railcard every year.
    It has to be your 'main' account - from http://www.natwest.com/personal/stud...#tabs=section3:

    5 Year 16-25 Railcard

    1. Promotional offer for 5 Year 16-25 Railcard valid for NatWest Student accounts opened between 8 June and 10 October 2009.
    2. In order to receive your Railcard you must register for online banking and paperless statements by 10 October 2009.
    3. Your Railcard will only be renewed to you on an annual basis provided that you remain registered for online banking and paperless statements and you have continued to use your account as your main bank account.
    4. Please see Welcome Pack for full details of the Terms and Conditions that apply to your account.
    5. Available to first year undergraduates commencing their first year.
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    You also have to apply for paperless banking, online, with Natwest, to get a railcard. I think if you apply online you get a free USB stick, but that was first come, first served. I just got my railcard from Natwest the other day , you save over a 1/3. Their essentials insurance is quite expensive, though.
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    When I was doing this, I'm sure certain banks required that your student loan installments be payed into that account.

    Having said that, one of my friends somehow has two, so obviously can't fulfill this for both, so I'm sure you're fine.
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    How come you're not getting the loan?

    My cousins parents paid everything for her but she took the loan anyway and put it in a high interest account for three years, paid it back as soon as she finished her degree and used the interest to go on holiday.
 
 
 
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