I can't say much about particular banks (being in US) but inflation is a baby's breath away from going wild so (at this time) I do not fear debt since the value of debt is going to be eroded.
Last edited by Isoverity : 03-07-2009 at 03:48 PM.
Well, I believe that Natwest give you a railcard for 5 years when you sign up and something like £1500 overdraft.
I went with Halifax which gives you the possibility of £3000overdraft which could come in serious hady when you're inevitably broke.
Just have a scout around and see what you can get.
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As Dickie said, Natwest do a free railcard for 5 years adding upto £120 which gives you a third of all rail fairs, though their overdraft is only £1500, Halifax overdraft is double that at £3000, but doesn't have the student incentive of a rail card, but at only £20 ish a year it's not a biggy.
So yea get one with an authorised overdraft as they are very useful!
one quick point... check what there are branches f in whatever city you are going to
I did have a HSBC account when I first came to uni, but then I discovered that the closest branch was in Edinburgh when I'm in ABerdeen!!! (worlds local bank my ***) so I changed to RBS lol
Just to point out that the vast majority of students will not get the full £3000 Halifax overdraft in the first year. You'll probably get something like £1000 in the first year and then you can build up throughout your degree.
The railcard is good if you'll be using trains a lot. But I couldn't even tell you where my nearest NatWest branch is, so it's not so good for me.
Just to point out that the vast majority of students will not get the full £3000 Halifax overdraft in the first year. You'll probably get something like £1000 in the first year and then you can build up throughout your degree.
This is the same for the majority of banks, so at natwest you only get a limit of £750 the first year and build it up to £1500 from there, if I am not mistaken?
I'm starting to wonder if anyone every builds up to the full limit anywya... I mean mine is MENT to go up to £2600, but I'm going to have been here 4 year sin september and am still on £1400
This is the same for the majority of banks, so at natwest you only get a limit of £750 the first year and build it up to £1500 from there, if I am not mistaken?
I'm not sure. I don't have an overdraft. It's just that the £3000 is very tempting and pretty much no one will get it in their first year, and they'll be lucky to get it in their later years too. It really is best to sit down and work out which account is the most beneficial for your own situation.
I'm not sure. I don't have an overdraft. It's just that the £3000 is very tempting and pretty much no one will get it in their first year, and they'll be lucky to get it in their later years too. It really is best to sit down and work out which account is the most beneficial for your own situation.
I would agree it's beneficial to sit down and work out which is best for the persons situation, If they get account information it tells them information such as overdraft limit for each year etc.
Where you will be going is probably better since that's where you'll be spending most of your time and will be needing most of your money. Also, if there's any problems it'll be more practical to get to.
What you pay back depends on what you earn. You pay back 9% of what you earn over £15,000. So if you earn £15,000 exactly you won't pay anything, and if you earn £20,000 then you'll pay back 9% of £5,000 which is £450 per year or £37.50 per month.
I've still got to sort out all the loans and grants and stuff i may or may not be entitled too. As for which bank to put your money in, find out which ones are near your uni, then have a look at their policies/offers (in detail)
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This is the same for the majority of banks, so at natwest you only get a limit of £750 the first year and build it up to £1500 from there, if I am not mistaken?
Not true!I had my account with Natwest, went in there and asked for an over drafted and they gave me £1500 overdraft.
I hate natwest so much,if youre not looking for an overdraft etc,lloyds is good :) xx
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My 'original' natwest overdraft was £1250. I think that's fairly standard now.
I reduced it this year; it's all very well getting a £3000 overdraft, but you've got to pay it back at some point, so I worked it out as getting an overdraft that I could pay off working one month full time.
It was partly experience; I got to my overdraft limit last year, and despite me working 30 hours a week, I still couldn't pay it off, so I'm still somewhat stuck in this overdraft, and I don't like it!
:)
But yeah - check around for student accounts, check what deals they've got, the overdraft, and the interest rates (just in case you do go over). One of my friends is with the Co-operative and loves it - and it's ethical - but they're quite few and far between.
Both Middlesbrough and Portsmouth are quite big, so should have most branches, but it's still worth checking. It comes in handy when you want to pay in cheques and stuff :)
my uni mentioned that interest for the student loans (form student loans company- not bansk) will be 0% interest starting sept; not sure if thats for everywhere but for northern ireland thats what we were told - whether thats correct or not i dont know.
Don't go for gimmicks like Rail Cards, you should pick a bank of the basis of availability, reputation, and quality of service. Gimmicks might look nice but at the end of the day its the other three that are more important.
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