What do banks get from a student account, Natwest in particular?

Author	Message
Written on: 28.11.2009 [23:15]
Coralie Coralie Topic creator Posts: 2	It seems that nowadays all banks are trying to entice students to go to them for a student account. NatWest in particular are known for this, they give away around £100’s worth of goodies aimed at sucking the students in, sometimes more. But I want to know is what do they get out of this? The overdraft facility is free, just like the account and so all they do is give away goodies and then “free money” so what do they actually get out of it?
Written on: 05.12.2009 [01:03]
Lane Lane Posts: 4	You have to think about it in the long term point of view. To them a student is not a student: a student is a doctor, a lawyer, a musician, anyone with a career and thus someone who will in the future have to pay back their overdraft (sometimes with charges), people who will eventually need a loan or a mortgage and so on. They don’t see what they can get from a student now, but what they will gain from a loyal customer will be thousands in the future. Also even if students don’t pay for their accounts, there are always the small charges that across the country will make a difference (direct debit failure, bounced cheques and other small fees).
Also very interesting: In need of advice re: paying back student loan How to check my student hmrc loan balance? Should I opt for student loan debt consolidation? How to get a NatWest student loan? Are student current accounts worth opening even if I don’t need an overdraft? Where to search for student bank account offers? What are the best student accounts? What's the student finance (PN1) form? When to open a student account? How can I clear my student account overdraft?
Written on: 05.12.2009 [22:04]
Charton Charton Posts: 3	They are always out for themselves!!! dont forget it!!! they are never there to just help you, they are there to help themselves!