LLyods tsb student account 09/10 Watch

miz_perfecto
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#1
Report Thread starter 9 years ago
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so ive been looking around and im goinna apply for this student acccount because it gives all the benefits i need so i was wondering anyone proper looked into this account as i am not a number person are there any hidden charges....? i have no idea what the credit card is about and all the details on there so im just gonna get the islamic account which gives just a debit card would i get an overdraft then....?


also my student loan going to go into another current plus normal account where im gonna set up a direct debit to go into my llyods account each week so that way i wont overspend would that be alryt....? doing this would help me save money



thanks guys:p: any help would be much appreciated
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sandettielightvessel
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It would probably not be possible to do a direct debit, because to do so you need to be an accredited organisation. What you would be able to do is a standing order FROM your normal account to pay your student account on a weekly basis. (You can set one of these up in the branch I think, or if not just write a letter with the details - amount, account number/sort code, date, frequency and sign it).

You can get an overdraft with a debit card account, but I don't know about the Islamic accounts specifically - I thought that they were against debt? A normal account would have it, though.
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miz_perfecto
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(Original post by sandettielightvessel)
It would probably not be possible to do a direct debit, because to do so you need to be an accredited organisation. What you would be able to do is a standing order FROM your normal account to pay your student account on a weekly basis. (You can set one of these up in the branch I think, or if not just write a letter with the details - amount, account number/sort code, date, frequency and sign it).

You can get an overdraft with a debit card account, but I don't know about the Islamic accounts specifically - I thought that they were against debt? A normal account would have it, though.

you see this is what im confused about on the website its listed as one of thefeatures of the islamic account i'll just go into the bank next week and ask thanks for the help though
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sandettielightvessel
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Having done a bit of Google apparently the objection of religious groups is charging interest. IF it's a student account, it will probably have an interest-free overdraft anyway.
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Titch89
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I think the Islamic account doesn't pay interest on money in the account?
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miz_perfecto
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thanks guys for the help am just gonna go in on tuesday and askk lool get everything sorted
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Daniella1990
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just one thing that sometimes to get the benefits of an account you have to use it as your main account so your loans have to be paid into it
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sandettielightvessel
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(Original post by Daniella1990)
just one thing that sometimes to get the benefits of an account you have to use it as your main account so your loans have to be paid into it
I *think* the metric the banks use is how much goes in and out the account, not who the credits come from.

So, if the OP paid her loan into another account and transferred the money across, she should be alright. Either way, it's what I've been doing for 2 years now!
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Daniella1990
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well i got told from natwest that my student account has to be used as my main account and that includes having my loans and everything else paid into it
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