The Student Room Group

Bank account - student

Hi Everyone,
I have been told to look at student bank accounts when I start University in September. Does anyone have any recommendations of Bank accounts they have and what benefits they provide ?
https://www.moneysavingexpert.com/students/student-bank-account/

You can compare student bank accounts here. If you wait a little longer to open the bank accounts you might be able to get some "bank bribes" - basically, they pay you to open a bank account. I made £300 last year that way, by opening multiple student bank accounts. In the end though, I ended up doing my banking with Lloyds because it seemed like the better option (arranged overdraft, pays interests on my money in the current account, has some cashback on certain places) from the student bank accounts I opened, which I chose in order to maximise bank bribes more than anything else, so you might be able to get a bank with slighty better conditions or more suited to your needs - all banks offer broadly the same terms anyway.
Original post by Scotland Yard
https://www.moneysavingexpert.com/students/student-bank-account/
You can compare student bank accounts here. If you wait a little longer to open the bank accounts you might be able to get some "bank bribes" - basically, they pay you to open a bank account. I made £300 last year that way, by opening multiple student bank accounts. In the end though, I ended up doing my banking with Lloyds because it seemed like the better option (arranged overdraft, pays interests on my money in the current account, has some cashback on certain places) from the student bank accounts I opened, which I chose in order to maximise bank bribes more than anything else, so you might be able to get a bank with slighty better conditions or more suited to your needs - all banks offer broadly the same terms anyway.

You aren't allowed to open more than one student account. Watch out for them reclaiming illegal funds.
Original post by Muttley79
You aren't allowed to open more than one student account. Watch out for them reclaiming illegal funds.

I very carefully read the terms and conditions of each bank account. Some banks specify you couldn't have a student account elsewhere, so I avoided those, and then I made sure I don't fall foul of their usage terms and conditions.
Original post by Scotland Yard
I very carefully read the terms and conditions of each bank account. Some banks specify you couldn't have a student account elsewhere, so I avoided those, and then I made sure I don't fall foul of their usage terms and conditions.

It's a rule that you can only have one.

"You can usually only have one student bank account, but you might be able to switch to a different bank. Some banks only let first year students open an account, so always check the eligibility criteria. "

https://www.moneyhelper.org.uk/en/family-and-care/student-and-graduate-money/student-and-graduate-bank-accounts
Original post by Childnurse2323!
Hi Everyone,
I have been told to look at student bank accounts when I start University in September. Does anyone have any recommendations of Bank accounts they have and what benefits they provide ?


You'll be able to apply for a student account once you have a confirmed place following results day. Decide what level of overdraft is best for you and look at the incentives on offer.
Reply 6
Original post by Childnurse2323!
Hi Everyone,
I have been told to look at student bank accounts when I start University in September. Does anyone have any recommendations of Bank accounts they have and what benefits they provide ?

It's worth mentioning that what the different banks offer does vary over time -- so what people got this year might not match what's available for the coming academic year.

Also, some banks don't necessarily offer the perks all year round, so what you might see now may not be the same as what you'll see towards the end of August when A-level results come out. (A year or two ago I think one of the banks was offering £100 to open the student account, but that offer was only open to the end of December.)

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