Is this possible? I've had my natwest one for two and half years but my habits with money mean I could really do with around £1250 I don't have to pay back for 5 years with no interest.
The only problem is that when you fill in the form they ask you, "Have you got another student account". I have. If I tick no will it all go through nice and easy or is this that thing called 'fraud'?
frowd
il fait froid
dame thora fraud
phwroooooooooooaughd
If you tick "no" it's obviously fraud
but whether you would get caught or not is another question.
To be honest I wouldn't recommend a second interest free overdraft account. It was a massive shock, and pretty problematic for me, when I realised that the time had come I needed to pay back or pay interest on my overdraft. Having to do it for two accounts would be pretty fucking scary.
if you don't want to get caught
make sure you don't post on the internet asking whether it's fraud or not.
oh.
you'll have to pay it back
you'll have to pay it back
yeah
but when I'm earning right? Right now I am poor poor poor and want moneys to y'know, eat and stuff.
i was curious
myself at the prospect of getting another student account, as i too am broker than jebus
i spose
are you going to get a well paid job? cos you're going to need more money to distract you from the fact you're not a student any more and THIS IS IT for quite a large part of your life, so you don't want to have to spend it all on paying back debts.
I don't like you anymore.
isn't that just a bit stupid?
think of the future! it'll be well shit if you have this much money to pay off!
i had two
it's like fraud or something...
the way to do it is have your first account nd have the loan paid into that. then open a new account and have the second installment paid into that one. voila you get two free overdrafts!
I was talking about this today with someone
Consensus was that banks don't share info on this and you can get away with it.
fraud
but i think theres lots of students doing it
don't do it!
Ask ya rich parents for money instead ;)
Doable, but not advisable
When I first went to university I opened a student account with Natwest. Because lots of the other banks were offering £50 to open an account, I decided to chance my luck with Lloyds TSB. I met with the bank manager, told him I wanted to open a Student Account and we sat down to fill in the forms. When I got to the "Do you have any other accounts?" question, I said yes and said that I wanted to keep my loan separate from the money from my parents. He said that "the bank usually looks down on split-banking", but filled out the remainder of the form. About a week later I got a letter from Lloyds TSB telling me my account had been set up.
Both intrest free???
The problem is I'm halfway through my last year. Might they be a bit suspicious?
Yeah
Both interest free. Both with an initial limit of £1000. As others have pointed out, you may well be better off just explaining your circumstances to the bank and asking for an overdraft extension. Alternatively - and this is highly recommended - go and speak to somebody at your university about applying for financial contingency money. Unlike an overdraft, this really is free money. Basically, universities are given a lot of money to help out those that most need it in times of financial hardship. If you can prove that you're skint then you will get the money. They ask for three months' worth of bank statements and you have to explain any outgoing of £100 or more.
This may be a bit obvious
but you have talked to Natwest about extending your current overdraft. They're usually pretty willing to go over whats advertised if you've been with them a while.
this
im sure you can apply for an extension?
do it
i know many people who have done it and not got caught...
There are confidentiality agreements
Which "apparently" don't let other banks see what other accounts you have.
Of course it's not advisable where one bank is linked with another like HSBC & Royal Bank of Scotland.