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.
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.
1. Research Banks and Account options.
2. Gather required documents:
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?
0% overdraft:
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.
0% overdraft:
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.
0% overdraft:
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.
0% overdraft:
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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