Our new accessible card is available on all NatWest current accounts. Interest-free overdraft - up to £1,000 in your first year You can apply for an interest-free overdraft - up to £1,000 in your first year. Comments and Questions ValuePenguin is not in control of, or in any way affiliated with, the content displayed on this website. Mobile phone top-up facility Mobile phone top-up facility available at all NatWest cash machines and those displaying the top-up logo, including those operated by Royal Bank of Scotland and Tesco Personal Finance. You must use your Student Account as your main current account by depositing at least £750 every 6 months and making at least 3 debit transactions every month.
However, parents need to consider whether they are ready to lose any no-claims discount they have built up and accept higher premiums if you make a claim. Simply call us and we'll send you a code that'll let you withdraw your cash. After two years, graduate accounts are converted to standard current accounts. When charged 21 days after the end of the charging period in which we decide not to make the payment or the next business day if this is a Saturday, Sunday or Bank Holiday. Each country will need to be registered individually. If your existing card is not Contactless and you have an eligible account, you can , giving you a quick and simple way to make purchases up to £30.
Shop around, and think about the kinds of perks that will be most beneficial to you. Overdrafts are basically where a bank lets you spend more money than you have, up to a set amount. In addition, a £10 fee will be charged for initial deposits and any re-deposits following item inspection or temporary release. Prime Student is a service provided by Amazon. This is in addition to any other charges that may apply. If you stop using your account as your main current account then the interest rate you pay on your arranged overdraft will revert to the standard rate which applies to the Select Account.
In return, you could get perks like free international money transfers or foreign cheque deposits. You can also access our Mobile and Online Banking and get a debit card. NatWest and Royal Bank of Scotland have even thrown in a £10 Amazon. Enforcement A Default Notice Fee will be payable if we need to serve a default notice on you for example, if you fail to repay your overdraft on demand or we wish to enforce any security we hold. Get Cash allows customers to withdraw up to £130 within their daily limit from any NatWest, Royal Bank of Scotland or Tesco cash machine to get your money. You'll find handy online budget calculators at, for example, , and on university websites. This means you can only apply for the credit card by opening a bank account with a confirmed place to study.
You should apply for an account as soon as you arrive because it can take three weeks or more to set up. Allows to get up to 50% off food or 2-for-1 meals at participating restaurants. Different banks have different policies, so before you do anything make you check individual terms and conditions with each company. Halifax data shows the average overdraft by the end of October has been around £700, in excess of the current £500 level, which means students have typically been applying for an extension early in their first term or have been incurring fees — hence the decision to increase the minimum interest-free overdraft to £1,000. Students should make sure they know what will be expected of them when it comes to paying off their interest-free overdraft after graduation.
By using our sites and apps, you agree that we may store and access cookies and similar technologies on your device. Choose which type of account you need First things first, you need to pick a bank and account. Will I earn interest on the money in my account? Or at a later date by visiting Student Overdrafts. Elsewhere, perks mainly comprise student store discount cards and discounts on insurance products. Be careful to list the address you live during term-time usually in London as your Contact Address and your address at home or international address as the Permanent Address, or the bank will reject your documentation.
We will help you quickly if your debit card is lost or stolen and you need access to cash We sent all replacement debit cards within 24 hours and our emergency cash service is now free of charge. Overdrafts are not available to International Students. You will need to have arranged a permanent place to live before you can set up a bank account. That said, finding an account is still not a problem. An account like this is unlikely to give you credit so you will not be eligible for a credit card, cheque book or an overdraft.
Opening an account Opening an account can take a couple of weeks, so you should start the process as soon as you can. Always check with the bank branch where you will be opening your account prior to setting up an account to avoid delays. It is a charity and is incorporated in England as a company limited by guarantee under the Companies Acts Reg no. NatWest, for example, has an interest-free limit of £1,000 in year one, with up to £500 in the first four months, rising to £750 in months five to eight, then up to £1,000 for the last three months. Halifax, for example, while offering up to £3,000, guarantees a fee-free overdraft of only £500, though this rises to £1,000 from 16 August. Annual Holding Charges are applied in arrears so any withdrawal made prior to the anniversary of the deposit will incur a pro-rated amount of the annual charge.