Good bank, good account (Natwest Student Banking)

Member Name: LouisDoyle

Product:	Natwest Student Banking
Date:	11/11/09 (24 review reads)
Rating:

Advantages: £1500 interest free overdraft by third term of first year

Disadvantages: Only £500 interest free in first term.

Natwest offer a great student package on the face of it. There is a free 5 Year rail card thrown in worth about £150. This is great for most students as it makes the train the same price as the coach so we can save journey time going back and forth from home. There are also various discounts on products like Acer Laptops and 3 mobile broadband. Most other banks offer £50 cash incentive to join their bank so if you don't use the trains then maybe its better to go for a different account.

Natwest say that offer a £1500 interest free overdraft in your first year! Great. Actually they only offer £500 in your first term which is the time when you need the overdraft to pay for accommodation on next terms student loan.

Also, the whole system for switching onto this account is way too complicated. They make you fill out about 10 forms in branch and you're just not sure what you've signed up for.

I have to say that the staff in Natwest are generally more friendly than in other banks so this may also be a choosing factor. I use the branch on Whiteladies Road in Bristol and they are always very helpful.

Overall, not a bad account so far. Be careful not to go over the agreed overdraft or they'll slap on a load of fines and ruin your credit rating.

Summary: As good as any other and you get the free rail card.