Best of the Week
Most Popular
1. Investing in a Bubble Mania Stock Market Trending Towards Financial Crisis 2.0 CRASH! - 9th Sep 21
2.Tech Stocks Bubble Valuations 2000 vs 2021 - 25th Sep 21
3.Stock Market FOMO Going into Crash Season - 8th Oct 21
4.Stock Market FOMO Hits September Brick Wall - Evergrande China's Lehman's Moment - 22nd Sep 21
5.Crypto Bubble BURSTS! BTC, ETH, XRP CRASH! NiceHash Seizes Funds on Account Halting ALL Withdrawals! - 19th May 21
6.How to Protect Your Self From a Stock Market CRASH / Bear Market? - 14th Oct 21
7.AI Stocks Portfolio Buying and Selling Levels Going Into Market Correction - 11th Oct 21
8.Why Silver Price Could Crash by 20%! - 5th Oct 21
9.Powell: Inflation Might Not Be Transitory, After All - 3rd Oct 21
10.Global Stock Markets Topped 60 Days Before the US Stocks Peaked - 23rd Sep 21
Last 7 days
S&P 500 – Is a 5% Correction Enough? - 6th Dec 21
Global Stock Markets It’s Do-Or-Die Time - 6th Dec 21
Hawks Triumph, Doves Lose, Gold Bulls Cry! - 6th Dec 21
How Stock Investors Can Cash in on President Biden’s new Climate Plan - 6th Dec 21
The Lithium Tech That Could Send The EV Boom Into Overdrive - 6th Dec 21
How Stagflation Effects Stocks - 5th Dec 21
Bitcoin FLASH CRASH! Cryptos Blood Bath as Exchanges Run Stops, An Early Christmas Present for Some? - 5th Dec 21
TESCO Pre Omicron Panic Christmas Decorations Festive Shop 2021 - 5th Dec 21
Dow Stock Market Trend Forecast Into Mid 2022 - 4th Dec 21
INVESTING LESSON - Give your Portfolio Some Breathing Space - 4th Dec 21
Don’t Get Yourself Into a Bull Trap With Gold - 4th Dec 21
GOLD HAS LOTS OF POTENTIAL DOWNSIDE - 4th Dec 21
4 Tips To Help You Take Better Care Of Your Personal Finances- 4th Dec 21
What Is A Golden Cross Pattern In Trading? - 4th Dec 21
Bitcoin Price TRIGGER for Accumulating Into Alt Coins for 2022 Price Explosion - Part 2 - 3rd Dec 21
Stock Market Major Turning Point Taking Place - 3rd Dec 21
The Masters of the Universe and Gold - 3rd Dec 21
This simple Stock Market mindset shift could help you make millions - 3rd Dec 21
Will the Glasgow Summit (COP26) Affect Energy Prices? - 3rd Dec 21
Peloton 35% CRASH a Lesson of What Happens When One Over Pays for a Loss Making Growth Stock - 1st Dec 21
Stock Market Sentiment Speaks: I Fear For Retirees For The Next 20 Years - 1st Dec 21 t
Will the Anointed Finanical Experts Get It Wrong Again? - 1st Dec 21
Main Differences Between the UK and Canadian Gaming Markets - 1st Dec 21
Bitcoin Price TRIGGER for Accumulating Into Alt Coins for 2022 Price Explosion - 30th Nov 21
Omicron Covid Wave 4 Impact on Financial Markets - 30th Nov 21
Can You Hear It? That’s the Crowd Booing Gold’s Downturn - 30th Nov 21
Economic and Market Impacts of Omicron Strain Covid 4th Wave - 30th Nov 21
Stock Market Historical Trends Suggest A Strengthening Bullish Trend In December - 30th Nov 21
Crypto Market Analysis: What Trading Will Look Like in 2022 for Novice and Veteran Traders? - 30th Nov 21
Best Stocks for Investing to Profit form the Metaverse and Get Rich - 29th Nov 21
Should You Invest In Real Estate In 2021? - 29th Nov 21
Silver Long-term Trend Analysis - 28th Nov 21
Silver Mining Stocks Fundamentals - 28th Nov 21
Crude Oil Didn’t Like Thanksgiving Turkey This Year - 28th Nov 21
Sheffield First Snow Winter 2021 - Snowballs and Snowmen Fun - 28th Nov 21
Stock Market Investing LESSON - Buying Value - 27th Nov 21
Corsair MP600 NVME M.2 SSD 66% Performance Loss After 6 Months of Use - Benchmark Tests - 27th Nov 21

Market Oracle FREE Newsletter

How to Protect your Wealth by Investing in AI Tech Stocks

Student Bank Account Best Freebies

Personal_Finance / Student Finances Jul 25, 2018 - 06:02 PM GMT

By: MoneyFacts

Personal_Finance

School’s out for summer, so it’s time for students to do some research on student current accounts to find the best deal. Moneyfacts.co.uk has created a handy selection of the best accounts available (see below) so that students can easily compare the different overdraft offerings and extra benefits.

Rachel Springall, Finance Expert at Moneyfacts.co.uk, said:

“Students preparing to branch out on their own and study at university may already be celebrating the summer break, but this is the perfect time for them to sort out a student bank account and not leave it until the last minute. As soon as students get their university offer letter, they should be ready to apply for a student bank account that will meet their day-to-day needs.


“The best account will entirely depend on how much the student expects to borrow, the benefits they feel are essential to have included and any additional perks. Some providers attempt to entice students with discounts or gift cards, but these incentives could be a waste if not used frequently.

“It’s worth noting that some student account discounts or cashback perks can be useful to those who shop for essential supplies or eat out with friends, and some accounts, such as HSBC’s, will also give students a free year of Amazon Prime, along with an £80 voucher.

“Halifax and Santander currently offer students a £1,500 interest-free overdraft from day one, which can be a lifeline to cash-poor students who have yet to generate income through part-time work. The best account isn’t always with the branch on campus either, so it’s important to compare deals carefully. If students have a history with debt, it’s worth getting a credit check first, as the advertised overdraft limits are not guaranteed.

“Students who are struggling with money should seek advice with the account provider by phone or online, or even visit their bank’s nearest branch for a one-to-one chat. There is also no harm in raising any concerns with parents early on to get some extra support and avoid an awkward home visit.

“If students decide to travel during their course, an account that offers a travel pass could be an important cost saver, especially if they are situated the other side of the country. Santander offers a free Railcard to 16 to 25-year-olds, saving students up to a third on most rail fares, and NatWest and RBS currently offer a free Young Persons Coachcard, which is valid for four years. Nationwide’s account is also handy for students who travel abroad, as they don’t charge fees for using its debit card.

"Clearly, there are many different perks between accounts and not one will necessarily meet every desire. However, the most lucrative will depend on a student’s financial expectations of either using an overdraft or being in credit, how often they expect to travel, or if they favour cashback or freebies.

“When students come to the end of their course and graduate, they shouldn’t assume that their current student account provider is the best choice by default for a graduate account, and it is at this stage they should prioritise paying off any overdraft they have amassed through the years.”

The list of student accounts is a selection, not a Best Buy chart. All overdrafts are subject to the applicant’s status. Additional information is available and you can find a list of graduate bank accounts on our website.

moneyfacts.co.uk is a financial product price comparison site, launched in 2000, which helps consumers compare thousands of financial products, including credit cards, savings, mortgages and many more. Unlike other comparison sites, there is no commercial influence on the way moneyfacts.co.uk ranks products, showing consumers a true picture of the best products based on the criteria they select. The site also provides informative guides and covers the latest consumer finance news, as well as offering a weekly newsletter.

MoneyFacts Archive

© 2005-2019 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in