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Student Bank Account

Discussion in 'Thinking of teaching' started by evilpixie, Jul 15, 2010.

  1. I've looked but it seems you have to do a 2-3 yr course to qualify :-(
  2. Try a smile student account :


    I have a current smile account and intend to change over to a student account when I do my course. Smile are without a doubt the best bank I've ever been with. They're ethical, so your money does good things, and they're incredibly friendly and helpful every time I call and ask a question. They're part of the co-op group, they are internet only (some people might not like that) and on the odd occasions when you have to do something in person - like provide ID or sign something, you just pop into your local co-op bank branch. However, in three years I've only had to go into a branch once! You pay in cheques via post (they give you prepaid envelopes) and everything else can be done over the phone. Incidentally, when you call them up, you always speak to someone in their friendly northern team - no foreign call centers here.

    I'll stop promoting them now.... I don't work for them, promise!!!
  3. Thank you Hesteringlis, for the tip. I think I'll try Smile.
    You are intitled to a student bank account as a PGCEer. Lloyds offered me one.
    However, as someone who already banks with them, the bank manager told me that actually, by converting my account to a student one, my overdraft limit would go down, so I've decided to stick with my current account with Lloyds and open a seperate student account somehwere else. I thought, the banks have usually started to advertise the perks of setting up a student account with now, but I've not seen anything around, as yet.
    My sister got a free 5 year student rail discount ticket with her student account [​IMG] but that was 5 years ago.
  4. From what I understand most banks will offer what you need. There is a previous thread on it,

    Also, having asked at several banks recently, it would seem that brochures aren't available at the moment, they are getting ready for the new student influx when the results come in August.

  5. I have just this week turned my Barclays account back to a Student account....which means the interest-free overdraft is already in place! [​IMG] All they needed to see was my offer letter. Hope that helps!
  6. All you need is yor offer letter from GTTR and they'll convert it.
  7. I just converted my Barclays account. I took my gttr letter, student finance and ID. Only a small overdraft was available but told in a couple of months I'll be able to increase this.
  8. I spoke to two different people from Halifax (in person) and they both insisted that I couldn't have a student account on the PGCE and that I would have to stick with my graduate account which I will have for one more year. I tried to explain to them that I may be graduating this month but I will be a student again from September. I showed them my offer letter but they weren't having any of it!
    Perhaps this is just Halifax? I have thought about opening another student account somewhere else but at the moment I can't afford to pay off my Halifax overdraft.
  9. That seems ridiculous of Halifax - I bank with NatWest and have had no problem with setting up a Student account for my PGCE. I know as a 'first year' student you get an interest-free overdraft of up to £1,250 and a free 5 year railcard although I'm not sure whether this would be the case if you were a new NatWest customer. They were fantastic with me and said they would treat me as a 4th year student so my overdraft went up to £1,600. I'd say if you are having issues with other banks, go and take your offer letter into a NatWest branch and see what they say?
  10. The thing is if I open a student account elsewhere (Natwest sound very tempting) then what would I do with my Halifax account? I don't want two sets of overdrafts! I can't afford to pay off my overdraft until my first loan comes in. I guess I could wait until then, then switch to another bank?
  11. I'm hoping this is wrong as I bank with Halifax [​IMG]
    I've had my student account since 2003. I did a year at Leeds Met, completed my degree at Leeds Uni in 2005-2008 and then did a module with the Open University 2009-2010 and they've let me have a student account for all of this.
    Fingers crossed it depends on the person you ask. I better hurry up and find out though.
    I do have a graduate account with Llyods TSB but i've always had excellent customer service from Halifax so im reluctant to swap.
    Saying that i've worked out my finances and with the cut in bills I should actually be £250 up a month on what I have now from my graduate wage! I am downgrading from a one bed to a studio though [​IMG]
    Can't wait to be back at uni now [​IMG]
    Hurry up Sept!

  12. When I set up the account with the TSB if I had any debt on my Halifax overdraft they were going to transfer this amount to my new account
  13. I am going to try in one more local branch of Halifax and see what they say. Perhaps I didn't explain myself properly to them, I just said I would like to keep my account as a student account for one more year because I am doing a PGCE.
  14. I guess if Halifax were still insisting they'll turn your account into a graduate one (although I'm sure they can't do that) you could always open a student account at a different bank and use your new interest-free overdraft to pay off your Halifax one? Things like this always confuse me but I had a few friends that were savvy with their money like that while at University and even managed to make some money from it (by putting loans in ISAs and things like that).

    Anyway, try a different branch of Halifax and see what they say - it's probably just a case of the people you speak to not knowing what they're talking about!
  15. After differing messages online I decided to go into Liverpool City Centre and ask around at the different banks.

    First went to HSBC, who I bank with currently and with whom I had my student account account and subsequent graduate account - now expired and reverted to regular account.
    Verdict: Denied. I graduated 4 years ago and therefore I am unable to open one of their Postgraduate accounts as it needs to be opened within 3 years of graduating.
    Then Barclays, who I also bank with:
    Verdict: Denied. Their student/postgraduate accounts only covered courses of 2 years or more.
    Then Lloyds TSB...
    Denied. Was told that due to the credit crunch the banks are not offering such accounts to any Postgraduates (?!?)
    Last port of call was Santander...
    Verdict: Success! They set me up a regular student account, using the GTTR number on acceptance letter. This was verified and they set the account up for 1 year. This account has £350 overdraft limit to start with but once I have deposited £500 in this will rise to £1,000 for the year. As well as this, I also opened a switcher account that transfers all of my direct debits from my HSBC account and after 3 months I get £100. Was so happy after getting knocked back from everywhere else I went!

  16. Only two banks have so far announced details of student account for 2010/11. Others are expected to make an announcement in the run-up to the publication of A level result next month. So hold your fire, as other, better offers may soon be released.
  17. Hi,
    I've just been to my local Halifiax and extended my student account by an extra year [​IMG]
    I went to a cashier first and they said they couldn't do it and that I had to ring head office. I explained that last time I spoke to a financial advisor and that they extended it there and then. They took me upstairs and it took the financial advisor less than two minutes to do it [​IMG]

  18. Oh that is encouraging, thank you! I'll try another branch, sounds like the people I spoke to didn't know what they were talking about!
  19. I got that impression from the cashier and the help desk. Book in to see a financial advisor and hopefully (fingers crossed) you'll be sorted in no time!
  20. I just went into Halifax, they were about to do it when they said I need a letter from my University stating when I start and finish. Really annoying I have to go back again but at least it seemed possible!

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