What would the best bank account be for me?

Im an international student that is starting Uni this year in the UK. I will not be making overdrafts and the account will be used for my parents to transfer me some money each month. I will also use my account for the wages I get when doing Summer jobs.

Which bank do you recommend me?

Reply 1

Tiger Rag

Do you just want a basic bank account? Most banks offer free bank accounts where you do have the option of an overdraft. You'll get a debit card which you can use to buy things online.

Reply 2

3enrique

Original post by Tiger Rag

Do you just want a basic bank account? Most banks offer free bank accounts where you do have the option of an overdraft. You'll get a debit card which you can use to buy things online.

Maybe, whats the difference between a basic and a student account?

Reply 3

CrazyKittenLady

Original post by 3enrique

Maybe, whats the difference between a basic and a student account?

Student accounts usually have have big overdrafts and not much interest on your money. If you are looking for a basic account but with also good interest rates the... http://www.tsb.co.uk/current-accounts/classic-plus-account/
Is brilliant :smile:

Reply 4

3enrique

Original post by CrazyKittenLady

Thanks, I’ve been looking at my campus in Southampton and it seems there is just Santander, Barclays and Natwest so that quite reduces the options... :frown:

Which account (regardless if normal or student) would you recommend me from these banks?

Reply 5

CrazyKittenLady

I think this one is has the best benifits out of the three...

http://www.santander.co.uk/uk/current-accounts/student-graduate-current-accounts/123-student-current-account/

You can get reduced rail fair and 3% interest on your money as long as you deposit £500 a month. I had this account for a bit and just set up a direct debit between me and my dad to have £500 to go out of his account and in to mine at the beginning of each month and then back again the day after :smile:

Was really simple just had to set it up once which took about 5 minutes and every month it does it all automatically :biggrin:

Reply 6

3enrique

Original post by CrazyKittenLady

Was really simple just had to set it up once which took about 5 minutes and every month it does it all automatically :biggrin:

Great! Thanks. I've read it and it says to deposit 500 each academic term, so is that every semester or month?

Reply 7

CrazyKittenLady

Original post by 3enrique

Great! Thanks. I've read it and it says to deposit 500 each academic term, so is that every semester or month?

No problem at all! That should be every semester, when you leave uni if you wanted to keep the account after it would be upgraded and then would have to be every month :smile:

Reply 8

username1799249

Original post by 3enrique

Thanks, I’ve been looking at my campus in Southampton and it seems there is just Santander, Barclays and Natwest so that quite reduces the options... :frown:

Which account (regardless if normal or student) would you recommend me from these banks?

Noooooo. No no no. Do not sign up with a bank because there is a branch nearby. Be savy and get the best account for you. If there is branch on campus, happy days. See here for the best student accounts

http://www.moneysavingexpert.com/students/Student-bank-account

Reply 9

Bruhh

If you're looking for good interest rates (provided you'll often have a reasonable balance) I'd look at this website, it compares the best interest rates on current accounts.

http://www.bankaccountsavings.co.uk/

Reply 10

jess323

Original post by 3enrique

Great! Thanks. I've read it and it says to deposit 500 each academic term, so is that every semester or month?

Original post by CrazyKittenLady

Was really simple just had to set it up once which took about 5 minutes and every month it does it all automatically :biggrin:

I agree sanntander student accounts are one of the beat out there in my opinion because you get so many benefits, for example you get a free 4 year railcard from them!