Best bank for students nowadays? Watch
So just recieved another "Just to let you know! " letter from my bank (TSB) today to tell me my cash ISA interest is being slashed again and X fee is being added and X is changing in the terms etc etc. For me this is the last nail in the coffin for TSB, ~2 of the last ~8 years (I was initially with Lloyds TSB, it was my first ever bank account) I have been with this bank it has just been constant cuts and negative changes to my account so I have finally decided to shop around.
I am wandering what the recommendations are on here for current & savings accounts for students? I dont currently hold a student account just a standard "Classic+" savings account, a flex rate cash ISA with about a grand in it & I keep ~£1500 in my current account because of the favourable interest for balances under £2000, The APR rate for my current account is close to 5% for balances under £2k) I would prefer this to be much lower with better interest on my savings account (0.8% a year on £1+ balances) but, thats how the system seems to work out. I also hold a low limit (£200) credit card with Capital One I use for day to day purchases in the hopes of increasing my credit rating for when I leave college/uni (im just finishing my 1st of 3 years).
I would prefer to hold both my savings and current account with the same bank, my savings I would MUCH prefer to be flexible rate that I can withdraw and deposit to as I please.
Any recommendations are welcome, havnt really done much research myself yet, I am pretty good at money management but exploiting the perks of banking isnt really my strongpoint. I would be open to non-brick and mortar establishments as I have been recommended one (First Direct) by my dad, however he lives outside the UK now and says he isnt up to date with the banks anymore.
You really need to shop around. What do you want from your bank account? I, for example am with Nationwide and have a current account and ISA with them. I'm happy with the service. I also get free travel insurance with my bank account.