University Student Friendly Account


#1

A quick Google (or other search engine of choice) reveals that every major and not so major bank are offering deals to new Uni students and I’m just wondering if this is in the plans?

I have a 17yr old who definitely has plans to go next year and a 15yr old that is talking about Uni but …


#2

Hi @stubbyd! This sounds good. We’re certainly keen to reach out to students so I’ve passed this over to the team. I’m interested to hear more about what you think students would be interested in from Starling?


#3

I’m way past being a student myself but a quick search of the pipes shows many options with probably the top one being a fee free overdraft which increments each year to a max of around £2,500 - £3,000.

The overdraft should be a guaranteed one with flexible and friendly payback/reduction terms after graduation (my eldest [27] had to pay his back almost instantly).

As a follow up to this the ability to “lock” the account from further spending if it hits a certain limit and / or the overdraft limit.

No fees - you’ve got this one covered :smiley:

Some sort of freebie - such as a student railcard for the duration of their Uni days / 3yrs

ermmm… I’m struggling but perhaps a quick look here:

will reveal what banks are offering and this next link shows things a student should consider so Starling could look to match those ideals or come close to!

http://www.savethestudent.org/money/student-banking/student-bank-accounts.html#consider


#4

Students and parents I think @JamesPratley

I know my parents put money in the bank for me for various things, but in an extension of connected accounts it would be nice to implement something similar to Ethereum smart contracts to enable funds to be transferred for a particular purpose.

Starling already categorises payments…would it be possible to have a silo whereby money can be transferred and siloed for a particular purpose eg .rent / shopping.

I.E Parents topping up an account to be used for food ie. supermarket shopping.

I know they won’t be precise so perhaps just reporting on what it was used for?
Maybe that’s a bit too big brother ?


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#5

Great suggestions folks! I’ve passed these on to the team, but feel free to keep them coming. :blush:


#6

I guess someone could use something like the Reference to specify the silo. “Silo: Rent” etc… :slight_smile:


#7

Hi James, my two under 18’s are avid Osper users, having signed them up about 18 months ago. I have the security of remaining in control and adding money instantly, should they need it.

They have independence! Of course, they are learning about money management as well, all a good start for later in life college/uni…

What have the team at Starling said so far on this topic? Can you update us please? Thanks.


#8

As a student I’d find this incredibly useful, I didn’t actually sign up for a student account as I was happy with my FlexPlus account with Nationwide but if given the opportunity to open a student account with Starling then I’d have probably taken it, especially with the cost of my FlexPlus account going up.


#9

No updates currently but I will definitely feed this back to the team! :slightly_smiling_face:


#10

@stubbyd Yes I agree about student account perks (as I’m a final year mature student).
An interest free overdraft would be the primary thing for me. Then like other banks, a cash gift on opening the account, even just £10 is an incentive. A free rail or coach card would be great. And discounts on insurance, shopping, text books (in my case art materials - good paper is expensive!). These are some initial thoughts. Thanks for bringing up the topic.


#11

Hi @sarah.guha Do you have any further news on Starlings plans for the under 18’s / Student friendly accounts please? I remember this being mentioned in the plans moving fwd/this year? Thank you!