Mature Postgraduate Student Account


I

INeedHelp

I am about to return to University full-time to do a research council
funded PhD after working for a few years. I am a homeowner and would
like to keep the current account I use at the moment solely to pay the
bills and mortgage. For my day to day transactions I would like to
open a student account to be able to take advantage of the
preferential overdraft scheme etc. Every month I would transfer a
chunk of my grant cheque cash from the student account to the "house
matters" account to pay my mortgage and bills. I would hope the
amount of money being transferred monthly (say 500 pounds or more)
would be enough to allow me to keep the (reasonably large) overdraft
facility I have with my current bank as well.

Does anyone reading this newsgroup have any experience of this - most
of the information I can find on the internet from the high st. banks
seems to say I should have graduated from my undergrad degree within
the last three years to be eligible for their post-graduate student
accounts, but I may be reading it incorrectly. I also wonder if
anyone has any idea of how much money needs to be going into an
account monthly for them not to take an overdraft of (say) 3000 pounds
away (I got this when I was comparatively well-paid). At the minute
the account is well in credit, but of course this may change when i
start living on student money again - it would be nice to have the
extra security of some breathing space for the "house" account.

Thanks in advance...
 
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T

Thom Baguley

INeedHelp said:
Does anyone reading this newsgroup have any experience of this - most
of the information I can find on the internet from the high st. banks
seems to say I should have graduated from my undergrad degree within
the last three years to be eligible for their post-graduate student
accounts, but I may be reading it incorrectly. I also wonder if
anyone has any idea of how much money needs to be going into an
account monthly for them not to take an overdraft of (say) 3000 pounds
away (I got this when I was comparatively well-paid). At the minute
the account is well in credit, but of course this may change when i
start living on student money again - it would be nice to have the
extra security of some breathing space for the "house" account.
I had a similar problem a few years back and managed to get onto a graduate
account for the duration of my studies - it had free banking and interest free
overdraft. It turned out the local branch manager had discretion (even though
I technically failed to meet the criteria). This may have changed, but if not
try a University branch of a bank rather than a regular one (though my example
was from a local branch of Lloyds, I think the manager was unusually laid back
about the situation).

Thom
 
K

Kai

I'm a US student who will be coming to London to study for a year. Can
you suggest a couple of good banks that I should think about using
because (1) fees are small, (2) cash machines are plentiful and their
fees are small, (3) they are nice??? Perhaps I am asking for too much.
 
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B

Bruce Robson

Kai said:
I'm a US student who will be coming to London to study for a year. Can
you suggest a couple of good banks that I should think about using
because (1) fees are small, (2) cash machines are plentiful and their
fees are small, (3) they are nice??? Perhaps I am asking for too much.

HSBC is one of the bigest banks in the UK and they operate in
New York. As you're posting from Columbia University, I would
recommend visiting one of their branches in New York and
opening a US account (http://us.hsbc.com/inside/locations.asp).
Later you can open a UK account with HSBC in London.


Having a US account with HSBC will help you with what we will be
your two biggest problems

1) ID/credit checks when opening any UK account. Since you will
already be an HSBC account holder, HSBC in the US can identify
you to HSBC in the UK.

2) Transfering money betweeen the US and the UK. HSBC will be able
to transfer money between your US and UK accounts whilst avoiding
some of the delays and fees of international clearing.


Bruce
 

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