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.
- Banks compete with each other to get your attention, so don't just choose the one with the best free gift.
- See what services and support they offer, plus how they'll treat you in various financial situations.
- 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.
- Make sure there's a branch of the bank nearby your campus or accommodation.
- 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.