Best bank account for university students
Hello,
Can someone tell me which bank account is the best or worth it for university students? I still haven't set up my student bank account as I am struggling with which bank is the best and has the best deals and discounts for uni students. So, please help me out and let me know which one I should go for. Ill
Be waiting please reply back.
Can someone tell me which bank account is the best or worth it for university students? I still haven't set up my student bank account as I am struggling with which bank is the best and has the best deals and discounts for uni students. So, please help me out and let me know which one I should go for. Ill
Be waiting please reply back.
Original post by Anonymous
Hello,
Can someone tell me which bank account is the best or worth it for university students? I still haven't set up my student bank account as I am struggling with which bank is the best and has the best deals and discounts for uni students. So, please help me out and let me know which one I should go for. Ill
Be waiting please reply back.
Can someone tell me which bank account is the best or worth it for university students? I still haven't set up my student bank account as I am struggling with which bank is the best and has the best deals and discounts for uni students. So, please help me out and let me know which one I should go for. Ill
Be waiting please reply back.
Depends on what you need - main thing to think about is whether you think you’ll need an overdraft and then finding one with a good 0% overdraft (so you’re not paying interest on it). I can’t choose a bank account for you because I don’t know what you want from it, but this webpage might help break it down: https://www.moneysavingexpert.com/students/student-bank-account/
I personally have the Santander one because I wanted the railcard, I travel by train a lot and it’s saved me hundreds of pounds so that’s something to consider.
Original post by Anonymous
Hello,
Can someone tell me which bank account is the best or worth it for university students? I still haven't set up my student bank account as I am struggling with which bank is the best and has the best deals and discounts for uni students. So, please help me out and let me know which one I should go for. Ill
Be waiting please reply back.
Can someone tell me which bank account is the best or worth it for university students? I still haven't set up my student bank account as I am struggling with which bank is the best and has the best deals and discounts for uni students. So, please help me out and let me know which one I should go for. Ill
Be waiting please reply back.
Hiya,
Here are a few factors to keep in mind while making your decision:
Interest-Free Overdraft: One of the most significant benefits for students is an interest-free overdraft as this can provide you with financial flexibility during your studies. However, be aware that this usually ends after 3-5 years and the overdraft will normally incur fees after this.
Online and Mobile Banking: Ensure that the bank offers user-friendly online and mobile banking platforms, which are essential for managing your finances conveniently.
Discounts and Deals: Some banks offer student-specific discounts and deals, such as discounts on shopping, entertainment, or travel. Santander were offering a rail card with their student account when I was applying to university.
Branch and ATM Accessibility: Check the availability of branches and ATMs on or near your campus, as easy access to banking services can be quite convenient.
Additional Services: Some banks might provide additional services like budgeting tools, financial workshops, or savings accounts with competitive interest rates.
It's a good idea to visit the websites of different banks and compare their offerings for student accounts. Pay attention to the terms and conditions, and make a list of the features that are most important to you. Take your time to research and make an informed decision that suits your needs.
-Beth (Lancaster Student Ambassador)
I went for Santander. Guaranteed overdraft limits (which most do not have) and a free railcard have definitely been useful for me.
Original post by Lancaster Student Ambassador
Branch and ATM Accessibility: Check the availability of branches and ATMs on or near your campus, as easy access to banking services can be quite convenient.
Additional Services: Some banks might provide additional services like budgeting tools, financial workshops, or savings accounts with competitive interest rates.
Additional Services: Some banks might provide additional services like budgeting tools, financial workshops, or savings accounts with competitive interest rates.
A few observations on the above:
(1) All banks are now rapidly shutting down significant numbers of their branches, so even if there is a branch near campus it might not be there for long.
(2) You are generally not restricted to using the ATMs of your own bank, so it normally doesn't matter whether or not there's an ATM of your bank nearby. Also, a lot of ATMs are removed when bank branches close down. That might not matter so much given the decreasing use of cash these days.
(3) re savings accounts -- savings account offered by the banks that have student accounts tend not to have competitive interest rates. There are certainly advantages in having savings accounts with the same bank as the current account -- for example, you can see the amounts in the same app and transfers between accounts are normally instant. But for the best savings rates it's best to look at banks that operate mainly in that market (savings) and accept that moving money between accounts might be a "next day payment" rather than instant.
In terms of bank accounts, with everything in one such as, personally looking for rail cards going by train. Any student discounts and offers that the banks offer students the best. Food, travelling by transport, shopping and much more. I hope I made sense for you to understand. So, if you know any banks with the best deals for students. Please do let me know. I'll be waiting.
Original post by Anonymous
In terms of bank accounts, with everything in one such as, personally looking for rail cards going by train. Any student discounts and offers that the banks offer students the best. Food, travelling by transport, shopping and much more. I hope I made sense for you to understand. So, if you know any banks with the best deals for students. Please do let me know. I'll be waiting.
Santander seem to have the best combo (at least for me) of a guaranteed overdraft limit with 0% interest (other banks might say they offer more, but they don't guarantee they'd give the full amount to you), and the 4-year railcard thrown in too. I don't think banks have much else attached to their student accounts in terms of discounts and offers - the key features of a student account are the arranged overdraft and the signup bonus they give you. For example, Natwest give you £100 when you sign up and fulfil certain criteria, and a free 4-year tastecard which can get you discounts on restaurants, but the overdraft isn't a guaranteed amount like Santander. HSBC give you £100 and a one year Headspace subscription, and they have an guaranteed overdraft of £1000 which you can ask to be made bigger in later years (but the increase isn't guaranteed).
It sounds like you want someone to just tell you which bank account to get and do all the research for you - other people can't make financial decisions for you on the basis of an anonymous forum post. There are some suggestions here and in the website I linked in the previous post, so do a bit of your own research using that and make the decision yourself.
Thanks much appreciated. I have a revolut app so, is that good in terms of money management and travelling expenses basically for uni wise? I've heard many good things about the app so I got it and worth to use it especially in uni it for places to use. Let me know.
Original post by Anonymous
Thanks much appreciated. I have a revolut app so, is that good in terms of money management and travelling expenses basically for uni wise? I've heard many good things about the app so I got it and worth to use it especially in uni it for places to use. Let me know.
Revolut isn't a bank so isn't protected up to £75,000 if it goes bust. I wouldn't want to keep my money with them (although I think some vaults or whatever they called are protected with them as the money is technically with another bank).
Original post by Anonymous
Thanks much appreciated. I have a revolut app so, is that good in terms of money management and travelling expenses basically for uni wise? I've heard many good things about the app so I got it and worth to use it especially in uni it for places to use. Let me know.
Revolut isn't a student bank account so you won't get an interest free overdraft facility. Decide what level of overdraft you want, then decide which incentive you prefer (£100 or a 4-yr railcard). You could take the £100 and buy your own railcard.
As mentioned above, the following website is the best place to see the pros and cons of each account:
https://www.moneysavingexpert.com/students/student-bank-account/
Original post by Anonymous
Hello,
Can someone tell me which bank account is the best or worth it for university students? I still haven't set up my student bank account as I am struggling with which bank is the best and has the best deals and discounts for uni students. So, please help me out and let me know which one I should go for. Ill
Be waiting please reply back.
Can someone tell me which bank account is the best or worth it for university students? I still haven't set up my student bank account as I am struggling with which bank is the best and has the best deals and discounts for uni students. So, please help me out and let me know which one I should go for. Ill
Be waiting please reply back.
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