Article: Student bank accounts

Looking for a student bank account? Check our student bank account guide - fully updated for 2016.

(edited 7 years ago)

Some of this needs to be updated, e.g. - NatWest's Free tastecard membership (offering 50% off meals out) has been replaced by a CoachCard offering discounts on coach travel, etc.

Reply 2

GuppyFox

Original post by Wiggly

Some of this needs to be updated, e.g. - NatWest's Free tastecard membership (offering 50% off meals out) has been replaced by a CoachCard offering discounts on coach travel, etc.

We've now updated it to show all of 2015's offerings :smile:

Reply 3

LaughingKitsune

As long as you do online banking, you are also able to upgrade your account online (as long as you have your UCAS reference number). That's how I got mine without having to worry about paperwork :smile:

Reply 4

beabeaa_

i'd just like to point out that international students aren't eligible for student bank accounts at some of these banks, so please be sure to check ahead! it's frustrating, since some of their student-related perks won't be available to us foreigners :frown:

Reply 5

RiaMaria

Does anyone know the best time to open a student account? Does it have to be done before you apply for student finance?😕

Reply 6

TrojanH

Original post by RiaMaria

Does anyone know the best time to open a student account? Does it have to be done before you apply for student finance?😕

I would also like to know, can you get one before you go into uni?

Reply 7

B.O.B

Original post by TrojanH

I would also like to know, can you get one before you go into uni?

You open the student account when you are:

1. 18 years old
2. Confirmed a place at a university

So for example, I turn 18 at the end of March but I'll have to wait till August to open my account when exam results come through and my offer has been confirmed

Reply 8

nothingspecial98

So why would it be better to open a student account rather than sticking with my existing current account? Are there any other benefits apart from the freebies and overdraft?

Reply 9

999tigger

Original post by nothingspecial98

So why would it be better to open a student account rather than sticking with my existing current account? Are there any other benefits apart from the freebies and overdraft?

Arent they enough? that overdraft can come in handy. Costs you nothing.

Reply 10

Devify

Original post by nothingspecial98

So why would it be better to open a student account rather than sticking with my existing current account? Are there any other benefits apart from the freebies and overdraft?

It depends on each person. You don't have to get a student account but the fee free overdraft can be useful if your loan payment is late or you ran out of money before that. If you're sure that you won't use overdraft then staying with your current account may be better because of things like better interest rates.

Reply 11

robotico2014

Original post by nothingspecial98

So why would it be better to open a student account rather than sticking with my existing current account? Are there any other benefits apart from the freebies and overdraft?

Not only the freebies and overdraft, some banks also offer interest on credit. So, for example if you have balances between £300 and £2000, Santander pay you 3% monthly interest. Which can help you to make an income, without an effort. Let's assume you have £2000 in your Santander Student Bank Account, therefore, 3% of that is £60. All this in exchange for £500 every academic term. Just look it up on their website! http://www.santander.co.uk/uk/current-accounts/student-graduate-current-accounts/123-student-current-account

Reply 12

username1799249