student bank accounts!

[tris-]

i know many here are becoming/already students, including my self.

currently i have an HSBC account, which is 1k interest free over draft and increases each year, including a post grad year.

now i noticed natwest offerind more over draft plus -

a free 4 year student rail card!

a microsoft webcam!

i think HSBC usually does CD/MP3 player type dealy.

anyone else found anything decent? think this year im going for natwest tbh, student rail card gives uber savingz.

 

[Chronictank]

natonal rail will save you loads,
personally i would dump it all in a ISA tho and let the interest grow on it while its not in use

 

[tris-]

natonal rail will save you loads,
personally i would dump it all in a ISA tho and let the interest grow on it while its not in use

the over draft? lol im a student, i live off the over draft tbh. even though this year i will have a job, i will still probably need it :/

also another tip. if you can get galaxy radio in your area, they do some kind of chat thing on the nights with special student related people that gives all kinda of advice. might be worth a listen for some.

 

[Ormorof]

i have a natwest student account and it rocks =D

railcard ftw

 

[DocWolfe]

I got a natwest account before they did the railcard thingy... but the overdraft is £1250 and you got £20 free.

With regards to the increasing overdraft thingy... you have to go in an ask for it to be increased, if you dont have a steady income they will bitch at you and not let you increase it (happened to a couple of mates of mine).

 

[tris-]

i dont really want to increase it tbh. i think its quite manageable with only 1k a year, easily.

get 2.5k a year student loan, the odd jobs here and there. tbh i think with a constant job you should be able to have it at zero by the end of each year.

though this year mine has ended on near minus 900, lol

 

[Chronictank]

the over draft? lol im a student, i live off the over draft tbh. even though this year i will have a job, i will still probably need it :/

also another tip. if you can get galaxy radio in your area, they do some kind of chat thing on the nights with special student related people that gives all kinda of advice. might be worth a listen for some.

nah your student loan
depending how organised you are as you will make money off the substantial ammount in your account,
and put the money from that in a overdraft account every month
This way you make money off the interst of the loan and pay off a overdraft the same time

sos stopped typing half way to do something and didnt realise whole message didnt send

 

[Alan]

i dont really want to increase it tbh. i think its quite manageable with only 1k a year, easily.

get 2.5k a year student loan, the odd jobs here and there. tbh i think with a constant job you should be able to have it at zero by the end of each year.

though this year mine has ended on near minus 900, lol

OMG how can you live off ... urm ... 3.4k a year

 

[tris-]

clever money management

 

[Cozak]

I got a letter off UCAS not so long ago saying something along the lines of ''OMG Dont open bank accounts for free gifts!!'' But I want to so badly

 

[Mikah75]

natwest is defo the best- railcard is much more beneficial, + can get huge interest free overdraft
rather than a shitty ipod shuffle from lloyds or an mp4 player from HSBC

 

[Ormorof]

mmmm student loan in an ISA? whats going to pay for my rent then?

as it stands i spend most of it on my rent and the few hundred i have left go to clearing the overdraft

 

[tris-]

I got a letter off UCAS not so long ago saying something along the lines of ''OMG Dont open bank accounts for free gifts!!'' But I want to so badly

aye screw it. they all offer basically the same banking facilties (free over draft and a debit card, what more do you need?). the free gifts just make it easier to choose

 

[DocWolfe]

I struggled tbh... esp when it comes to moving into a house in the second year... rent was about £60/week, ontop of that bills which is prob about £20 a week.

Probably didn't help spending £60+ on booze a week. Then food maybe £30, incl. getting sarnies and stuff from the union.

So spending £170 a week, £170 x 52 = £8840. and I was getting a £4,000 loan. Of course that wasn't constant there were times where I barely spend £10 a week simply because I didn't have any money, I ate rice and gravy for 3 weeks at the end of one term because I had nothing else and I couldn't afford anything.

 

[cHodAX]

I ate rice and gravy for 3 weeks at the end of one term because I had nothing else and I couldn't afford anything.

Lol, I bet that looked like a bowl of runny rabbit shit

 

[DocWolfe]

Lol, I bet that looked like a bowl of runny rabbit shit

it tasted like it too

 

[Calaen]

Doc you noob you should have posted on here I would have given you a food bag

 

[tris-]

I ate rice and gravy for 3 weeks at the end of one term because I had nothing else and I couldn't afford anything.

rofl. sounds like a guy who was in my last year.

he ate around 2 pot noodles a day and some bags of crisps. the pot noodles were 2 for 99p

also read in the paper the other week, the average student starting this year will spend about 35k through out their degree

if you got a free gift like an ipod or some kind of MP3 player, wait till you are totally skint. then ebay the mother fucker

 

[Naetha]

www.moneysavingexpert.com has lots of good info on student accounts. My account is with HSBC and has been for the last 10 years ( I graduated 2 years ago) I've never had any problems with them, which is more than I can say for my husband's troubles with Halifax. Freebies are all well and good, but if you have to pay £600 a year in charges and fines, its a joke. This is how much I would have paid in 2004 if they hadn't been lenient when I went over my overdraft limit, or had a DD that would have bounced.

 

[tris-]

:worthy:

btw if anyone is interested, certain routes to and from london are going for 6 quid a ticket here!

http://www.thetrainline.co.uk/

 

[Lamp]

REMEMBER

There's no such thing as a free lunch

If they're giving you ipods an stuff its only cos they're gonna make a fortune out of you when you go in debt. Students get into debt. Banks invest debt on secondary markets by rehypothecating debt in the structured syndicated debt markets. If your account is in balance its invested in the ONMM (over-night money markets).

Take what you can then sod them off and join another bank and get their free stuff ! Play one off against them. They want your business.

 

[Commandment]

Take what you can then sod them off and join another bank and get their free stuff ! Play one off against them. They want your business.

7 ipods and 14 free biros later. lamp has got one big ass smirk on his face xD

 

[Ormorof]

just a hint, read the small print, just read the small print from the offer from lloyds (have a non-student account with them) and it states that you have to put £500 into the account before the end of october to be eligible for the free ipod

and afaik with the natwest account to be eligbile for continuing railcards you need to make use of your overdraft (was never a problem for me so i got my new one np )

 

[Lamp]

If you actually read HSBC's small print, you only get the discounted rail card if you get hit by the 7:12 intercity from Doncaster to Crew on a wet Thursday in October. 2019.

 

[Lamp]

:worthy:

btw if anyone is interested, certain routes to and from london are going for 6 quid a ticket here!

http://www.thetrainline.co.uk/

Bargain ! The Congestion Charge is £8 !