Student Banking 
So, What is the BEST bank account for a student?
Banks are usually out to get you. Remember as a kid you were told to be wary of strangers? Well as an adult we are telling you...beware of banks! |
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FACT: You need an interest free overdraft
Unless you are really good with your money then you need an interest free overdraft. Your best bet is to go for the Halifax Bank of Scotland.
They offer a massive interest free overdraft of £2,750 every year (put some or all of this into your new savings account and you'll have an extra £176 to spend at the end of year.
All of this is FREE money!
It may take a little persuasion on your behalf to get the full £2,750 but the bank was found to be giving out the full load by the end of the first year.
The next best thing is...
NatWest offer £1,250 in year 1, £1,400 in year 2 and £1,600 in year 3. All at 0%
Also if you are a regular train users they give you a free 5 year Young Person's Railcard which would cost around £100.
QUICK FACTS
- FACT: Don't be fooled by freebies. Only NatWest offer a good deal.
- FACT: Make sure your overdraft is AUTHORISED otherwise they'll start piling on interest.
- FACT: Remember to take details confirming that you are a student when you go to open a new account.
- FACT: Open a savings account to gain interest and earn free money.
- FACT: If you have a part-time job you definitely need to open a savings account! You can earn upwards of £300 on the interest per year depending on what you earn.
So these are the only student banks worth considering. We'll update this page when we know something better comes along!
Think about making use of a new savings account. We highly recommend this one.
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