Bank accounts

Choosing a student bank account

There are lots of different accounts with different deals and benefits – make sure you look around to find the best one for you.

Shop around

  1. Banks compete with each other to get your attention, so don't just choose the one with the best free gift.
  2. See what services and support they offer, plus how they'll treat you in various financial situations.
  3. As an undergraduate student you'll normally get an interest-free overdraft – so as long as you stay within the limit of your overdraft you'll not be charged for using it.
  4. Make sure there's a branch of the bank nearby your campus or accommodation.
  5. Check MoneySavingExpert's advice on top student bank accounts.

Things to be wary of

Credit cards and store cards

  • Although handy if you're in a difficult situation, you risk being charged interest which can mount up if you're not careful.
  • If you do use them make sure you can pay them off at the end of the month so you don't end up in more debt.


  • When these aren't interest-free they offer an amount of money you can borrow at a set level of interest.
  • If you go over that limit the extra charges can be really high.


Compare student bank accounts on the Money Advice Service's comparison tool