Student banking made easy
When you are at uni the last thing you want to be worrying about is your bank account. Trailing round the banks is a painstaking task and most of them know that once you have chosen which one to bank with, it is unlikely you will change again. This automatically makes you a great customer in their eyes and many are falling over each other to offer you loads of freebies and added extras to choose them. Deciding on the right bank can mean hassle free student living so get it right!
We have done the hard work for you and shopped around to see what the major banks are offering this year to students. If you haven’t already opened up a student account, have a read of our guide below before signing up…
Jargon explained- AER is the rate of interest a saver will receive over a year assuming the cash is left in the account for the full year. This can be paid monthly or annually.
HSBC
Interest free overdraft:
Up to £2000 (depending on what year of study you are in)
AER:
2%
Freebies:
2 years free Worldwide Travel Insurance
No overdraft arrangement fees
Free online budget calculator
Free TalkMobile SIM card with £5 preloaded credit and free calls to HSBC telephone banking so you can manage your money on the go.
HSBC also has a Passport account, great for International students.
Natwest
Interest free overdraft:
Up to £2000 (depending on what year of study you are in)
AER:
0.10%
Freebies:
Free 5 year Railcard for 16-25 year olds (gives you a 1/3 off rail fares)
Student Discount card
£100 saving on an ASUS laptop
Natwest student credit card
Natwest has a separate International student account- click here for more info.
Lloyds TSB
Interest free overdraft:
Up to £2000 (depending on what year of study you are in)
AER:
Does not state on website
Freebies:
3 year NUS Extra card
3 year YHS membership
40 free music downloads from eMusic & LAVA Mini Speaker
Lloyds TSB Student MasterCard credit card
Barclays
Interest free overdraft:
£200 initially then up to £2000
AER:
Does not state on website
Freebies:
Various deals with Phones4u
Free text alerts to your mobile phone
Barclays also has “100 Voices” campaign, a forum for students to voice their opinions on what banks should really offer.
Santander
Interest free overdraft:
Up to £2000 (depending on what year of study you are in)
AER:
2% on balances up to £500
Freebies:
3 insurance benefits (mobile phone, gadget and laptop)
Santander offers a separate International student account- click here for more info
Top tip: always check how your account changes when you graduate- a fantastic student account may not necessarily be a worthwhile graduate account.
We also found another great blog on student banking here.