Help... need answer in half an hour! :) Can I change my student bank account after first year to another bank?

Question

Im currently with hsbc and they are refusing to upgrade my overdraft to over 500.. when im at uni i struggle and m friends dont need to. They say I have bad credit rating which ive had checked by experian and its perfect! Im going for a meeting with them now and i want to clear my bank account and leave to natwest or another bank but i want to know if I can do this. Thanks

Answer 1

yes... ask the bank you want to transfer to all the details nd tell the one you are with you dont want to be with them any more

Answer 2

I'm not sure what your credit rating has to do with your bank account having overdraft protection.

Are you talking about overdraft protection from a LINE OF CREDIT (credit card, personal loan, etc.)? If that's it, then yes, your credit criteria and income level would be a factor as to why they won't raise your credit line which is connected to your checking account for overdraft protection.

If you want to switch banks, do your research and find a bank you like before you close your current account. You won't have a problem getting another bank account somewhere unless you're on Chex Systems. People get reported to Chex Systems when they owe a bank money and the account is closed for that reason.

You might want to open an actual Savings Account connected to your Checking Account for overdraft protection instead of using a line of credit.

Hope that helped.

Answer 3

Yeah, they can't make you stay at a bank. I'm glad you asked this question. I would definitely switch! I wouldn't be treated like that! EVER!

Answer 4

Absolutely, its your money and plenty of other competitive banks.

Maybe do an online comparison of at least 3 banks before deciding on which one. I like banks that offer good overdraft, no ATM charges, no min. balance fee, free online bill pay, free points rewards programs such as Charter One and National City Bank.

Good luck.