The Student Room Group

Student finance and bank account

Should I create a student bank account before applying for student finance ???
Reply 1
you can if you want, you dont have to though, you can just put in your normal bank account details - you can always change the details to the account later if required
Reply 2
No, you don't need a student bank account for student finance lmao.
If you have a regular bank account i.e current account it will ok.
Reply 3
Original post by lookingatthesun
Should I create a student bank account before applying for student finance ???


You generally can't open a student bank account until after A-level results come out and you have a confirmed place -- so from late August onwards.

You just need to provide details of a bank account in your name; you can change the details later if you open a different account.
Reply 4
Original post by lookingatthesun
Should I create a student bank account before applying for student finance ???


It is not mandatory to have a student bank account before applying for student finance, but it is a good idea to open one if you're planning on receiving student loans. Most student bank accounts come with added benefits such as interest-free overdrafts, discounts on various goods and services, and other incentives that can help you save money as a student.

When you apply for student finance, you'll be asked to provide your bank details so that your loan can be paid into your account. If you don't have a bank account at the time of application, you can still provide your details later when you open an account.

Having a student bank account can be beneficial when receiving student finance, but it is not a requirement.

Hope that helps.
Reply 5
Original post by lookingatthesun
Should I create a student bank account before applying for student finance ???

Unless you have an unconditional offer it is almost impossible to open a student account before you get you A level results. But if you wait until then to apply for student finance it probably won’t be arranged before the course starts. So what most people do is use or open a normal current account to start the application process and then just edit the bank details once they have achieved the grades necessary to get onto their course. It only takes SFE a couple of days to update their payment arrangements so you should be fine doing it this way.
Original post by lookingatthesun
Should I create a student bank account before applying for student finance ???


You can submit a student finance application now and leave the bank details blank until you can open a student account after results day.

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