Key Facts

 

Banking Guides

 

Current Account Glossary
Current account terms explained

Who Owns Who? – Banks and Savings
The following list covers the main UK banks, and, importantly, banking and savings brands.

Bank Account Key Factors
Bank accounts generally are designed to do the same job, but depending on how you’ll run your account, you will be looking for different things in terms of what your account offers.

Banking Tips

 

Simple Ways to Save Money in the Home
Now we are in a recession and feeling the effects of ‘non-flation’, it is important to save money where you can. As a nation we use far more energy than is necessary and this hits us in the pocket when our energy bills arrive.

Save Nearly Five Hundred Pounds a Month
Save nearly five hundred pounds in just one month and look after your health in five steps, according to health experts at Bupa

Banking Best Buys

Student Accounts

CompanyCredit InterestCredit Card LimitInterest Free O/D Per YearAuth FeesUnauth Fees
Bank of Ireland (NI)
Account Student C/A
Package Year 2009/10
Authorised Overdraft: 0.0% EAR (0.00% pm) - £1
Unauthorised Overdraft: 12.68% EAR (1.00% pm) - £1
After Graduation: Transfer by 2 years after graduation
Incentive: Free flight to one of eight European cities for first year students opening account, when account used five times in both October and November 2009, for NI students only.
Fee: Nil
0.50%£250Year 1 £400
Year 2 £500
Year 3 £500
[?]
Nil1% pm min £2
Bank of Scotland
Account Student
Package Year 2009/10
Authorised Overdraft: 7.2% EAR (0.58% pm) - £1
Unauthorised Overdraft: 24.2% EAR (1.82% pm) - £1
After Graduation: Transfer by 12 months after graduation
Incentive: Discounts on AA breakdown and Cardcare cover
Fee: Nil
0.10%NegYear 1 up to £3000
Year 2 up to £3000
Year 3 up to £3000
Year 4 up to £3000
Year 5+ up to £3000
Nil£28 pm
Barclays Bank
Account Student Additions
Package Year 2009/10
Authorised Overdraft: 8.9% EAR (0.72% pm) - £1 to £3K
Unauthorised Overdraft: 0.0% EAR (0.00% pm) - £1
After Graduation: Transfer by 30 June after completion of studies
Incentive: Mobile Broadband offer
Fee: Nil
-£600Year 1 up to £2000
Year 2 up to £2000
Year 3 up to £2000
Year 4 up to £2000
Year 5 up to £2000
Nil£22
[?]
Clydesdale Bank
Account Student Account
Package Year 2009/10
Authorised Overdraft: Year 1: 7.49% EAR (0.60% pm) - £1 to £1K. Year 2 onwards: 7.49% EAR (0.60% pm) - £1 to £3K
Unauthorised Overdraft: 29.99% EAR (2.21% pm) - £1
After Graduation: Transfer by 6 months after graduation
Fee: Nil
-£500NoneNilNil
The Co-operative Bank
Account Student
Package Year 2009/10
Authorised Overdraft: 9.9% EAR (0.79% pm) - £1
Unauthorised Overdraft: 15.9% EAR (1.24% pm) - £1
After Graduation: Transfer by 12 months after graduation
Fee: Nil
-NegYear 1 £1400
Year 2 £1700
Year 3 £2000
NilNil
First Trust Bank (NI)
Account Student+ Account
Package Year 2009/10
Authorised Overdraft: 0.0% EAR (0.00% pm) - £1
Unauthorised Overdraft: 0.0% EAR (0.00% pm) - £1
After Graduation: Not applicable
Fee: Nil
-NegYear 1 up to £1850
Year 2 up to £1850
Year 3 up to £1850
Year 4 up to £1850
NilNil
HSBC
Account Student Bank Account
Package Year 2009/10
Authorised Overdraft: 3.0% ABR - £1
After Graduation: Transferred to Graduate account
Incentive: Discounts with Dell and CD Wow! Free talkMobile SIM card with £5 credit. 2 years free worldwide travel insurance.
Fee: Nil
1.98%£500Year 1 up to £1000
Year 2 up to £1250
Year 3 up to £1500
Year 4 up to £1750
Year 5+ up to £2000
Nil-
Halifax
Account Student
Package Year 2009/10
Authorised Overdraft: 7.2% EAR (0.58% pm) - £1
Unauthorised Overdraft: 24.2% EAR (1.82% pm) - £1
After Graduation: Transfer by 12 months after graduation
Incentive: Discounts on AA breakdown and Cardcare cover
Fee: Nil
0.10%NegYear 1 up to £3000
Year 2 up to £3000
Year 3 up to £3000
Year 4 up to £3000
Year 5+ up to £3000
Nil£28 pm
Lloyds TSB
Account Student
Package Year 2009/10
Authorised Overdraft: 8.2% EAR (0.66% pm) - £1
Unauthorised Overdraft: 8.2% EAR (0.66% pm) - £1
After Graduation: Transfer by 30 September after graduation
Fee: Nil
0.10%£500Year 1 £1500
Year 2 £1500
Year 3 £1500
Year 4 £2000
Year 5 £2000
Year 6 £2000
Nil£15 pm
[?]
Lloyds TSB
Account Islamic Student Account
Package Year 2009/10
Authorised Overdraft: 0.0% EAR (0.00% pm) - £1
Unauthorised Overdraft: 0.0% EAR (0.00% pm) - £1
After Graduation: Transfer by September
Fee: Nil
--Year 1 £1500
Year 2 £1500
Year 3 £1500
Year 4 £2000
Year 5 £2000
Year 6 £2000
Nil£15pm
[?]
NatWest
Account Student
Package Year 2009/10
Unauthorised Overdraft: 17.81% EAR (1.38% pm) - £1
After Graduation: Transferred to Graduate account
Incentive: 5 Year 16-25 Rail Card (worth £130)
Fee: Nil
0.10%£500Year 1 up to £1250
Year 2 up to £1400
Year 3 up to £1600
Year 4 up to £1800
Year 5 up to £2000
-Nil
Royal Bank of Scotland
Account Student Royalties
Package Year 2009/10
Unauthorised Overdraft: 17.81% EAR (1.38% pm) - £1
After Graduation: Transfer by 12 months after graduation
Incentive: Free 4 GB USB stick with online applications
Fee: Nil
1.02%£500Year 1 up to £2750
Year 2 up to £2750
Year 3 up to £2750
Year 4 up to £2750
Year 5 up to £2750
-£10 pm
Santander

Account Student Account
Package Year 2009/10
Authorised Overdraft: 9.9% APR (0.79% pm) - £1
Unauthorised Overdraft: 28.7% APR (2.12% pm) - £1
After Graduation: Transferred to Graduate account
Incentive: £50 cash incentive, paid into the account after one month of it being opened
Fee: Nil
1.98%£350Year 1 £1000
Year 2 £1250
Year 3 £1500
Year 4 £1800
Year 5+ £2000
Nil£25 per month
Click here to Apply for this Product
Santander

Account International Student Account
Package Year 2009/10
After Graduation: Transferred to Graduate account
Fee: £5.00 pm
2.96%-None--
Click here to Apply for this Product
Smile
Account Student Account
Package Year 2009/10
Authorised Overdraft: 9.9% EAR (0.79% pm) - £1
Unauthorised Overdraft: 15.9% EAR (1.24% pm) - £1
After Graduation: Transfer by 4 years from account opening
Fee: Nil
0.12%NegYear 1 £1000
Year 2 £1400
Year 3 £1800
Year 4 £2000
NilNil
Ulster Bank
Account Student Account
Package Year 2009/10
Authorised Overdraft: Negotiable - £1
Unauthorised Overdraft: 12.7% EAR (1.00% pm) - £1
After Graduation: Transfer by 1 year after graduation
Incentive: Discounts at EA mobile Games and Squirrel save online backup service.
Fee: Nil
0.01%£350Year 1 up to £1250
Year 2 up to £1400
Year 3 up to £1600
Year 4 up to £1800
Year 5 up to £2000
NilNil
Yorkshire Bank
Account Student Account
Package Year 2009/10
Authorised Overdraft: Year 1: 7.49% EAR (0.60% pm) - £1 to £1K. Year 2 onwards: 7.49% EAR (0.60% pm) - £1 to £3K
Unauthorised Overdraft: 29.99% EAR (2.21% pm) - £1
After Graduation: Transfer by 6 months after graduation
Fee: Nil
-£500NoneNilNil
Disclaimer:
All rates subject to change without notice. Please check all rates and terms before investing or borrowing.
 
Oinky the Pig!

Student Accounts Explained

Most major banks offer student accounts which are similar to regular current accounts. They also come with additional benefits targeted at the needs of students.

Student accounts generally offer some sort of incentive and 0% overdrafts for the duration of your course.

These accounts do have charges outside the 0% overdraft deals so it is advisable to check the overall package and weigh up any incentives against the costs that may be involved.

 
 

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