best student bank accounts

Best student bank accounts

If you are going to go to university this year, if you haven’t already, you need to start looking around for the best student bank accounts. On top of sorting accommodation and packing, a student bank account is one of the most important things to consider before going to University.

What is a student bank account?

student finance

A student bank account is a regular bank account designed for those in higher education. You can pay money in and take money out, while benefitting from an interest-free overdraft.

Typically, the condition of receiving the perks of a student account is that you arrange for your student loan to be paid into that account.

How do I open up a student bank account in the UK?

1. Research Banks and Account options.

2. Gather required documents:

  • Proof of address
  • Proof of Identity (driving license, passport of birth certificate)
  • UCAS code or confirmation letter
  • If you were given a conditional offer from the university, then you may need to show your A-level results

3. Visit a Bank branch or apply online.

4. Complete the application. 

5. Deposit initial funds. (Some banks may require an initial deposit to open the account, although many student accounts have low or no minimum deposit requirements).

6. Receive your debit card. (You’ll receive a debit card, usually by mail, which you can use for purchases and ATM withdrawals).

7. Set up online and mobile banking.

8. You’re ready to go.

To help you get started, we have done a comparison for the best UK student bank accounts deals for 2024/2025. Below are the deals with the best perks. Did someone say free Railcard?


Santander Edge Student.

A guaranteed 0% overdraft each year, plus a FREE four-year Railcard (worth £100) *AND win up to 3 years’ worth of tuition fees.

0% overdraft:

  • £1,500 in years 1 to 3
  • £1,800 in year 4
  • £2,000 in year 5

Who can apply?

First-year students and those starting a level 4-7 apprenticeship. Not in your first year? You can switch in from another bank account if you’ve still 2+ years of study.

https://www.santander.co.uk/personal/current-accounts/santander-edge-student-current-account

View T&Cs on Santander.


Nationwide FlexStudent.

A 0% overdraft one plus £100 cash & £120 Just Eat vouchers.

0% overdraft:

  • £1,000 in year 1
  • Up to £2,000 in year 2
  • Up to £3,000 in years 3+

Who can apply?

Those on a full-time UCAS registered course of 2+ years. You can apply up to five months before – or up to one year after – your course starts.

Learn more and read T&Cs on Nationwide.


NatWest Student.

A 0% overdraft plus £100 cash & a FREE four-year Tastecard (worth £55/year).

0% overdraft:

  • £500 in the first term
  • Up to £2,000 from the second term until the end of year 2
  • Up to £3,250 in years 3+

Who can apply?

You must be on a UCAS-accredited undergraduate course of 2+ years, a full-time post-graduate course, or training to be a nurse. Not in your first year? You can switch in from another bank account at any point during your studies.

https://www.natwest.com/current-accounts/student_account.html

Read T&Cs on NatWest.


HSBC Student.

A 0% overdraft plus £125 on us if you apply for or upgrade to an HSBC Student Bank Account.

0% overdraft:

  • £1,000 in year 1
  • Up to £2,000 in year 2
  • Up to £3,000 in years 3+

Who can apply?

First-year undergraduates and postgraduates, plus those on certain BTEC courses.

https://www.hsbc.co.uk/current-accounts/products/student/

T&Cs online, visit HSBC.


There are many more bank account and offers available. Trusted websites to compare are MoneySavingExpert, Forbes and The Times.

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