Student Bank Accounts

xfirefishx

Have a few questions about this...

Firstly, which banks do people recommend and why? Sensible reasons please and constructive criticisms!

Also, I won't have a southern address when I arrive in Dublin, does anyone know any banks which specifically do or do not accept new customers with a northern address?

Also, what are the basics that you need for opening the account? Usually opening a student account up north is ridiculously easy because everyone wants you to sign up and give you free stuff! But yes, basics would be proof of identity (passport), proof of address and... anything else I'm missing?

Also, do any of the banks offer a decent free gift as part of their package, such as travel card or something...

Thanks in advance for any help!

pow wow

Depending on your uni there'll usually be some reps on campus during registration trying to get you to sign up by offering free goodies.

I'd get a UK one too if you can, the overdrafts are way better. I had both during my time at uni and the overdraft saved my life

I'm with BOI down south and they're alright. You might struggle with the id requirements though (proof of address) :rolleyes: I don't know if they'll let you have one with a UK address. However, some banks will send you a letter to your new address in the south that you can then bring in as 'proof', circumventing the need for a utility bill etc. which you may not have as a student, so it should be easy enough to set up once you're physically living down south.

AFAIK you just need proof of id, address and student status. I know with UB for example you have to sign a thing saying you'll have a grant or parental funds paid in, but they never asked for any proof. Actually now that I think of it, UB usually run a free 100 euro offer to new student customers, check out their website and see if it's on yet.

jayteecork

Ulster Bank.

give you 650 overdraft no questions asked, as well as 100 euro free if you use your account 3 times.
You can also apply to have your overdraft increased, up to 2K for the first year. This will increase as your progress through college.

Emma08

Just opened a student account wit AIB recently. I brought my passport and cao form they didnt ask for anything else. They give a voucher for a free student travel card and you get 50 euro in January if you complete a certain amount of transactions (two online credit top ups and five other transactions). hope that helps

xfirefishx

Thanks for the info.
I'll have to check it all out when I go down there.
I know a friend of mine managed to open a bank account there with a Northern address as she was commuting so I think it will be a possibility. She wasn't a student though so i was just looking for clarification on that point.
Thanks all!

cocoa

most of the banks do seem to give freebies of some sort, but more and more they're requiring a certain number of transactions first. So a good idea would be to open an account in every bank you're remotely interested, then get internet banking, move some funds around to get your required number of transactions and you've just killed two birds with one stone. You get your freebies and you have a very good idea of which bank you'd like to use in future. Obviously, don't go using any laser / ATM cards yet because then you'll be charged for that (don't use it, don't get charged) and there are no other charges on student accounts, usually, so you are in fact getting to test them for free.

This done, close all the accounts but the one you like (or leave them open with nothing in them, just for fun). I know it does seem like a bit more hastle, but it may well be worth it. The main freebies I know of are AIB (travelcard + €50 after 15 transactions including 2 text topups), BOI (1 free flight in europe) and Ulsterbank (€100 after bending over backwards to prove you live somewhere and are a student of the college). But there may be other good ones if you look.

mardybumbum

Heya, Ive just opened a student account with AIB. Free student travel card, free €50 when you top up twice by text and complete 5 transactions. And an interest free €1500 euro overdraft. Their credit card is pretty funky looking too!:D

jayteecork

mardybumbum wrote: »

Heya, Ive just opened a student account with AIB. Free student travel card, free €50 when you top up twice by text and complete 5 transactions. And an interest free €1500 euro overdraft. Their credit card is pretty funky looking too!:D

Interest free overdraft of 1500 for a first year student?

That's more than I got being a graduate!

Need to pop in to AIB in any case. Sort out my finances if i do this masters.
Have a loan that I'll have to put the repayments on hold.

xfirefishx

Does sound like a good deal with AIB - the travel card definitely sounds tempting.

However, just to clarify - I have to pay to use an ATM or laser card?!?!?

mardybumbum

xfirefishx wrote: »

Does sound like a good deal with AIB - the travel card definitely sounds tempting.

However, just to clarify - I have to pay to use an ATM or laser card?!?!?

No, I dont have to pay to use my laser or credit card. And you must apply for the overdraft first. Theres a few other handy thingswith the student card. It can be used in Boots,Topshop,Topman,Champion Sports,HMV and some other places too. The text top up service is quite handy too. Not sure if other banks do that?
The only bad thing i can think of is that the student credit card has a limit of €600 and it doesnt work at some ATM's.:eek:

mardybumbum

jayteecork wrote: »

Interest free overdraft of 1500 for a first year student?.

Yep, Its defenitely interest free. But the interest is 13.87% if you go over the €1500. Im not sure if thats high, Im pretty new to all this bank malarkey.
What are you doing the masters in if I may be so nosey?:pac:

cocoa

mardybumbum unless you have in fact gotten a very magical account that everyone else is in the dark about, you do have to pay for your laser card, and your atm card (even if physically, they are the same card) and your credit card. These are charges paid to the government, so nothing to do with which bank you're with...

currently it's €5 for an ATM card, €5 for a laser card, and €30 for a credit card. These are annual charges, charged once a year (i forget the date) and when you close your account.

jayteecork

cocoa wrote: »

mardybumbum unless you have in fact gotten a very magical account that everyone else is in the dark about, you do have to pay for your laser card, and your atm card (even if physically, they are the same card) and your credit card. These are charges paid to the government, so nothing to do with which bank you're with...

currently it's €5 for an ATM card, €5 for a laser card, and €30 for a credit card. These are annual charges, charged once a year (i forget the date) and when you close your account.

He means getting charged every time he uses it.

A lot of people do.

mardybumbum

cocoa wrote: »

mardybumbum unless you have in fact gotten a very magical account that everyone else is in the dark about, you do have to pay for your laser card, and your atm card (even if physically, they are the same card) and your credit card. These are charges paid to the government, so nothing to do with which bank you're with...

currently it's €5 for an ATM card, €5 for a laser card, and €30 for a credit card. These are annual charges, charged once a year (i forget the date) and when you close your account.

Ah yes, perhaps I should have been clearer. I have to pay the stamp duty which is actually €40 for the credit card, but I dont pay an annual bank fee. Im not sure what the laser/atm card fee is.

xfirefishx

Ah so there is a yearly fee for the laser card etc. That's annoying. Oh well, thanks everyone for all your help and advice and discussion. I'm actually edging towards BOI now after having read through everything but I reckon I'll have to go in and discuss with each of the banks to see which is best for me.

cocoa

mardybumbum wrote: »

Ah yes, perhaps I should have been clearer. I have to pay the stamp duty which is actually €40 for the credit card, but I dont pay an annual bank fee. Im not sure what the laser/atm card fee is.

It was €40 for some time (and the laser was €10 and the ATM was €10) but it's since gone down, because of a push from the banks because they're sick of dealing with cheques IMO...

jayteecork

As a graduate I get charged each and every time I use an ATM.

Last quarter the fees amounted to 79 euro!

Thankfully these were refunded - you have to use your laser card to make a transaction and pay a bill online and that's it.
Thank Goodness.

cocoa

jayteecork wrote: »

As a graduate I get charged each and every time I use an ATM.

Last quarter the fees amounted to 79 euro!

Thankfully these were refunded - you have to use your laser card to make a transaction and pay a bill online and that's it.
Thank Goodness.

:eek::eek::eek: something to watch out for after I leave the protection of college... Definitely worthwhile finding out about the special offers etc. for not being charged stuff...

sheroo_05

I don’t quite get the fact that-

do you get charge for every time you use ATM

or

do you just get charges once a year

Turnip2000

sheroo_05 wrote: »

I don’t quite get the fact that-

do you get charge for every time you use ATM

or

do you just get charges once a year

Im with BOI and have been for a while now. Student like yourself and I pay about €10 year i think it is.