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Do I NEED a student account?

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TSR's new app is coming! Sign up here to try it first >> 17-10-2016

    (Original post by niteninja1)
    I'm sorry that's utter bulls**t you can have a normal bank account banks just prefer you to have a student one I have had a bank account with hsbc since I was 11 as I got old enough for a better account they upgraded me and when I turned 18 I for a full adult bank account I currently have 3 and am starting university in September unless you tell the bank you are starting university they have no way of knowing. And they want your business so they will give you a normal account however they will always recommend a student account.
    Ah ok thanks a lot . I will go to my bank and just ask for a normal account and will say I'm not going to uni so they don't bombard me with this old student account thing ...

    (Original post by Gapyearstudent54)
    So, I've been looking at student bank accounts and I'm wondering if I actually NEED one? I shouldn't go into my overdraft, mainly because I don't go out clubbing so will only really be spending money on rent and food. I also just don't do overdrafts; it's not my money so I don't want to be in debt, just a way I think. Are there any pros and cons of having one? I won't go with santander for reasons, and already have a railcard and whatnot so don't care about the freebies. What are the other perks?
    Having the option of an overdraft is always a good thing (unless you have little self control, which obviously doesn't apply to you).

    I had a student account. I never used my overdraft, as like you I don't like them and would prefer to just spend less than get into debt. However, finance as a student can be difficult so it's good to have that lifeline there. For example, what if there is a delay with getting your loan through at the start of one of your years? The overdraft could be a life saver. Another situation you might face is having to pay the deposit and agency fees on a new place to live, before you've got the deposit back on your old place. An overdraft could plug the gap between those times.

    I know you'll likely be able to use savings instead, but you never know!

    Also, as someone else said, a graduate account can also be useful, and again the overdraft could help for e.g. the gap before you start a graduate job.

    Posted from TSR Mobile

    You just need a bank account in your name which accepts BACS payments. A current account does just that.
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