Best bank account?

[lg423]

Hey everyone, I need to open a bank account.

All student accounts (except possibly Bank of Scotland) require you to have lived in the UK for three years.
Any recommendations for a current and/or savings account for someone new to the area?

Thanks!

[orudge]

I think the Royal Bank of Scotland can be flexible for non-UK residents. Being a UK resident, I don't know for sure, but I know that a number of overseas friends of mine use them.

[Freaker (not logged in)]

When I came over from Germany, Bank of Scotland gave me an instant saver account with a bank card. Convenient enough - I couldn't use it as a debit card, but it was alright for taking out money anywhere in the UK, plus there was some interest on the account.

After one year, I asked for a debit card and credit card, and both applications were accepted, despite me having lived in the UK for only a year. Got a decent overdraft, too, and a credit card that doesn't charge for international use. I've been very happy with them since.

[mhuzzell]

RBS say they are flexible/welcoming/whatever for foreign students, but the account they'll give you is not a student account (though you may be led to believe it is -- I was), it is an "instant access savings account", i.e. a place to put your money and a card to withdraw it (no, not a debit card!), no perks (and no overdraft, though, like me, you may be led to believe you have one and not find out until it's too late!), and you're not allowed a chequebook.

If you can't get a student account, you're probably better off just going for a current account somewhere else.

[mhuzzell]

P.S. Obligatory: also RBS are destroying the planet by funding the dirtiest forms of oil extraction ever devised, killing ducks, giving people cancer, etc. blah blah blah.

[mhuzzell]

P.P.S. Orudge, probably the reason a lot of your overseas friends use them (certainly the reason I went to them) is that they send a letter in the freshers packs for overseas students, which, if they are not actually, at least makes them appear to be officially endorsed by the university.

[sv79]

Hi ya,
Being an overseas student, I suggest you to go for Bank of Scotland, unlike RBS (which gives only cashline card) BOS gives you a visa card which is always useful to have one for online and instore purchases. And also they can offer you an interst-free overdraft facility, student credit card as well; and online banking is hassle-free.

GOOD LUCK!

[Sambo2]

Santander (Abbey) - seem to offer a very respectable deal - the overdraft isn't as big (c. £1250) but they do give you an interest rate of 3% which is very good for a student account -(they are normally like .01%) and they also give you £50 in the account for free after you've had it open for a month - so if you dont need the overdraft as much then this could be a great deal

[Frank]

HBoS have their issues, but I've used 'em all my life and, despite oddball charges, the branch in St Andrews have always been quite helpful and pleasant.

Obviously I've not experienced 'the other side', but I've not ran into any issue with them. They've been fairly straight forward on the matter of extending overdrafts, replacing cards, withdrawing money abroad and so forth. Also, if they're able to provide you the account without jumping through hoops due to not being a 3yr-previous resident, all the better!

[Cinema]

Yeesh. I just went into Dundee today to get an account with Barclay's and I payed 7 pounds for a return ticket. When I got to Barclay's, they just gave me paperwork and said they needed a letter from the university, and that'd I'd have to go back to Dundee to drop off the paperwork! Frustrating... At least I got to see the DCA, which is rad.

Now I'm wondering if I shouldn't sign up for an account with a bank that is actually in town?

From what I gather in the thread though, all banks suck. That doesn't narrow down my choices. Ha!


From what I read on their website, the RBS student account does not have a monthly charge? Can anyone confirm that? Is it different for overseas students? Barclay's wanted to charge me 5 pounds a month as well, which isn't terrible, but it seems silly to get charged for a bank account.

[What?]

Firstly show your student card on the bus for a £5 return to Dundee on the 99s. Definitely the way forward.

I have student accounts with both HBoS and RBoS (naughty and not really allowed, I know) and neither charge. But I'm Scottish and don't know about internationals. I can't think why there would be though. Barclays are being a bit cheeky there.

[Fawksie]

Last time I tried showing a matriculation card on a 99 I was told that student discount didn't apply to any 99 routes. Was I being lied to?

[What?]

Haha perhaps you were! I took it on Sunday and the jovial driver (said braw to everything, possibly was drunk) told another student to always carry his card for a discount only on the 99s. But as I get a discount on the X24 as well maybe he was wrong.

[jollytiddlywink]

I've always gotten a discount on any journey to somewhere outside Fife: to Glasgow, to Edinburgh, to Dundee. No discounts apply to journeys within Fife, or so I have been told by the drivers!

[Kegrad]

you get the discount on the 99(which goes fairly directly to dundee centre), but not on the 96 (which goes round the little towns and out to ninewells). Occasionally you'll get a driver who doesn't know about the discount though. Does anyone know if you still get the discount around town?

[donpablo]

Unless things have changed the discount should be available on any service that crosses the Fife boundary.

Generally that means all trips to Dundee, Edinburgh and Glasgow etc. Sadly not within Fife though, even if it is further than to Dundee.

Tip: If you already have a day ticket for Fife you can just buy your student discount from the boundary to your destination. Extra savings Ask for a student ticket over the bridge to Dundee and they won't like you very much but do it. Lots of commuters do this by getting the Fife super ultra mega mega ticket (whatever its called) and then asking for bridge tickets.

As for bank accounts... I know nothing, hit and miss the lot. I just go for whoever gives me most money and avoid the penalties in the small print. If my mattress had online banking I would stick my money under that.

[Cinema]

If my mattress had online banking I would stick my money under that.

Sounds like an opportunity for an entrepeneur.

[Thalia]

Perhaps I'm just remembering incorrectly, but i'm sure that last year getting a bus to glasgow with a student card cost me the same as it did without one, even though the driver nicely gave me a ticket that said student on it (I think it was £10.50)

[Cinema]

Back on the topic of bank accounts: so far RBS is the only bank that has offered a real bank account for an international student out of BoS, RBS, and Barclay's. Unfortunately, you have to be in university housing. Otherwise, you have to register your address with the INS which takes weeks.

It sure is awkward that if you don't stay in university housing you can't open a bank account to pay your rent!

[jollytiddlywink]

I find it oddly amusing that, given the enormous global mess we're in, this discussion has carried on WITHOUT the essential pre-requisite assumption that banks are all bastards.