I was in the exact same boat.
I suppose it’s a different world now though. Back when I was a student you genuinely didn’t know how much money you had without scurrying off to a cash machine to print a mini statement.
I like to think students are more savvy now and with access to banking 24/7 in their pockets they can see their banking in real time.
It was HSBC offering the Railcard in my day (1998). I was already with them since Midland days so it was a no brainer.
From what I remember, Barclays were offering a free terrible PAYG phone (something Philips) and NatWest had vouchers of some sort.
That and most of them have graduate accounts where the overdraft is reduced in stages.
My HSBC account for example. I will keep the overdraft maxed out until I need to pay it back though, might as well get the interest.
IMO affordability checks should happen for overdrafts (incl student ones). The government should stop using banks for students to finance themselves and actually provide ample money for people to study.
Most of them check often just to see the single digits but never change the behaviour and justify it as all students are skint and that the social aspect is worth it (and the student loan will take them into credit again so…)
At least that was my experience at university.
Probably another topic but how’d you find OU? I want to look at moving into econ or finance later as I’m pretty sure AI is going to do a decent job at programming at some point.
Most people apply for these bank accounts before they get to uni and find a job. As part of the Nationwide FlexStudent account, I had to say where he was getting money from. So I said £X from student loan, and £Y from expected job (assuming 12 hours a week).
Yes. 100% yes.
I’d probably be a lecturer.
It’s a good lesson I think.