Bank accounts for Students

student bank accounts

When it comes to picking the right bank account you should consider everything carefully. If you open a bank account before you leave home then make sure there is a branch near where you'll be living or at least near the university. The last thing you need when you're on a student budget is to have to travel miles to go into your bank branch.

When you look at the account look at

Whether you get interest on the current account.

Can you have a savings account at the same bank.

How much interest free overdraft you can have. Is this increased in the additional years?

How easy is it to increase your overdraft?

What are the charges on overdrafts - authorised and unauthorised?

Period allowed after graduation before charges change.

What graduate options are available?

What incentives are on offer?

Do you have to pay in any grants or bursarys you get?

What opening hours does the nearest branch have? Is it a student branch? Is it open on a Saturday? This might seem trivial but if you have a cheque to put in your account and you're always in lectures when the bank is open it'll drive you mad!

How many cash machines do they have? There may be others but you may incur charges for using these.

Is telephone banking and internet banking available and are there costs?