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Key Facts

 

Banking Guides

 

Current and Packaged Accounts
What type of Current Account user are you? Are you one of those lucky people that manages to maintain a credit balance on your bank account every month?

Current & Bank Accounts with Overdraft Facility
An authorised overdraft is a pre-agreed facility that allows you to go overdrawn (or borrow) up to a certain limit, normally at a set rate of interest (some also charge a monthly fee).

The Basic Bank Account
It’s quite natural to worry about overspending, particularly if you have got yourself into debt before. There is a bank account where you can make sure you don’t go into debt: the Basic Bank Account.

Banking Tips

 

Are some banks foreign to you?
Have you ever checked our best buy charts and not recognised the names of some of the banks listed?

How to save money at University
Top money saving tips from Moneyfacts.co.uk to help you manage your money at University

Banking Best Buys

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Graduate Bank Accounts

CompanyCredit InterestCredit Card LimitMax Free O/D Per YearAuth FeesUnauth Fees
Bank of Ireland (NI)
Account Graduate C/A
Package Year 2010/11
Authorised Overdraft: 0.0% EAR (0.00% pm) - £1
Unauthorised Overdraft: 12.68% EAR (1.00% pm) - £1
After Graduation: Apply within 2 years after graduation
Fee: Nil
-NegYear 1 up to £1000
Year 2 up to £1000
Nil1% pm min £2
Barclays Bank
Account Higher Education Account
Package Year 2010/11
Authorised Overdraft: 19.3% EAR (1.49% pm) - £1 to £3K
Unauthorised Overdraft: 0.0% EAR (0.00% pm) - £1
After Graduation: Apply within 2 years after graduation
Fee: Nil
-£4000Year 1 up to £1500
[?]
Year 2 up to £1000
[?]
NilNil
[?]
Barclays Bank
Account Graduate Additions
Package Year 2010/11
Authorised Overdraft: 14.9% EAR (1.17% pm) - £1 to £3K
Unauthorised Overdraft: 0.0% EAR (0.00% pm) - £1
After Graduation: Apply within 3 years after graduation
Incentive: Free mobile phone insurance, RAC roadside assistance, card holder protection and legal advice helpline
Fee: £7.00 pm
-£4000Year 1 up to £3000
[?]
Year 2 up to £2000
[?]
Year 3 up to £1000
[?]
Year 4 up to £500
[?]
Year 5 up to £200
[?]
NilNil
[?]
First Trust Bank (NI)
Account Graduate Account
Package Year 2009/10
Authorised Overdraft: Negotiable - £1
Unauthorised Overdraft: 9.0% ABR + 1.00% pm - £1
After Graduation: Apply within 2 years after graduation
Fee: Nil
-NegYear 1 up to £1000
Year 2 up to £1000
Year 3 up to £1000
NilNil
HSBC
Account Graduate Bank Account
Package Year 2010/11
Authorised Overdraft: 19.9% EAR (1.52% pm) - £1
After Graduation: Apply within 2 years after graduation
Incentive: Commission-free foreign currency, free ID theft assistance including one free online credit report every year and 24/7 access to account via Internet and Telephone Banking
Fee: Nil
-NegYear 1 £1500
Year 2 £1000
Nil-
Lloyds TSB
Account Graduate
Package Year 2010/11
Authorised Overdraft: 16.8% EAR (1.30% pm) - £1
Unauthorised Overdraft: 16.8% EAR (1.30% pm) - £1
After Graduation: Apply within 3 years after graduation
Fee: Nil
0.10%NegYear 1 £2000
Year 2 £1500
Year 3 £1000
Nil£15 pm
[?]
Lloyds TSB
Account Islamic Graduate Account
Package Year 2010/11
Unauthorised Overdraft: 16.8% EAR (1.30% pm) - £1
After Graduation: Apply within 3 years after graduation
Fee: Nil
-NegYear 1 £1500
-£15 pm
NatWest
Account Graduate
Package Year 2010/11
Authorised Overdraft: 17.81% EAR (1.38% pm) - £1
Unauthorised Overdraft: 17.81% EAR (1.38% pm) - £1
After Graduation: Apply within 3 years after graduation
Incentive: Access to graduate loan up to £15K, interest free graduate overdraft repayment plan to pay off student overdraft up to £2K, specialist advice service and free mobile banking including text alerts
Fee: Nil
0.10%NegYear 1 £2000
Year 2 £1000
Year 3 £500
NilNil
Royal Bank of Scotland
Account Graduate Royalties
Package Year 2010/11
Authorised Overdraft: 9.9% EAR (0.79% pm) - £1
Unauthorised Overdraft: 17.81% EAR (1.38% pm) - £1
After Graduation: Apply within 2 years after graduation
Incentive: Discounts on selected holidays and travel. Cashback on theatre & concert tickets. Access to graduate loan up to £15K, interest free graduate overdraft repayment plan to pay off student overdraft up to £2K, specialist advice service and free mobile banking including text alerts
Fee: Nil
1.02%NegYear 1 up to £2000
Year 2 up to £1500
Year 3 up to £1000
Nil£10 pm
Santander
Account Graduate Account
Package Year 2010/11
Authorised Overdraft: 9.9% APR (0.79% pm) - £1
Unauthorised Overdraft: 28.7% APR (2.12% pm) - £1
After Graduation: Apply within 3 years after graduation
Fee: Nil
0.10%£350Year 1 £2000
Year 2 £1000
Year 3 £500
Nil£25 pm
Santander
Account Postgraduate Account
Package Year 2010/11
Authorised Overdraft: 9.9% APR (0.79% pm) - £1
Unauthorised Overdraft: 28.7% APR (2.12% pm) - £1
After Graduation: Apply within 3 years after graduation
Fee: Nil
0.10%£350Year 1 £1000
Year 2 £1250
Year 3 £1500
Year 4 £1800
Nil£25 pm
Ulster Bank
Account Graduate Account
Package Year 2009/10
Authorised Overdraft: Negotiable - £1501
Unauthorised Overdraft: 12.68% EAR (1.00% pm) - £1
After Graduation: Apply within 1 year after graduation
Incentive: Discounts at EA mobile Games and Squirrel save.
Fee: Nil
0.01%£350Year 1 up to £1500
NilNil
Disclaimer:
All rates subject to change without notice. Please check all rates and terms before investing or borrowing.
 
Oinky the Pig!

Graduate Accounts Explained

Most major banks offer accounts and other financial services specifically tailored for graduates. These accounts can help you to manage your money and student debt more effectively and are traditionally used for day-to-day banking activities. You have to apply for these accounts within a certain number of years after graduating.

Graduate accounts offer a range of different facilities such as preferential overdraft and loans rates, commission free currency and travellers’ cheques.

 

Bank Account News

Current accounts…when staying faithful doesn’t payCurrent accounts…when staying faithful doesn’t pay
On average, Britons keep their current account provider for 16.5 years, longer than the average of 14.1 years that they remain with their partners, according to research from Santander Current Accounts.

Time to join the online banking revolution?Time to join the online banking revolution?
Banks spend millions of pounds to ensure their sites are as safe as possible, with encryption devices and firewalls galore. Even so, you should ensure that your computer has up-to-date security software before you begin banking online.

Join the switching current account revolutionJoin the switching current account revolution
Metro Bank might have recently become the first new bank to grace our high street in one hundred years, but is there any substance behind their swaggering entrance?

RBS delivers half year profitsRBS delivers half year profits
The 84% publicly owned Royal Bank of Scotland (RBS) announced an operating profit of £1.6 billion over the first half of 2010, an improvement on the £3.4 billion operating loss in 2009.