Student or Current account Watch
Current Account: http://www.santander.co.uk/uk/curren...urrent-account
Student Account: http://www.santander.co.uk/uk/curren...urrent-account
Why would you need both? The student account is a current account with special privileges (large overdraft and railcard freebie).
The interest on the student account is payable on balances up to £2,000, while interest on the current account is payable on balances up to £20,000 (both at the same interest rate).
As I have saved up a considerable amount of money in my gap year, I'm looking to store away approx 10-15k in a high interest account while at university. So the student account provides no benefit here, while the current account is the best I've seen anywhere.
(As a student I'm tax exempt, so interest on the current account still works out better than an ISA e.g.)
So do you know if I can open both accounts?
As a student I m actually not tax exempt after I ve used my isa allowance up according to my bank so I d check that's certain before putting it all in a taxed accounts .
I will definitely be within the personal allowance of £10.6k - I won't have any job so I will certainly be tax exempt. Are you earning, while studying - that is probably why?
That being said, if you can open more than 1 account (e.g: student account + current account), Try this out
(tedious but worth it)