Halifax has unveiled its 2013 Student Account, following extensive research into the financial and lifestyle needs of young people in higher education.
The survey of 1,000 students found 86% of students want an account offering a debit card, internet banking and an overdraft facility, whilst a further 76% do not want to pay a fee for running their account each month.
Based on the findings, Halifax has designed the new 2013 Student Account, which offers the following key features:
• Interest-free overdraft up to £3,000 (depending on personal circumstances) • Guaranteed minimum overdraft of £1,000• Unauthorised overdraft rates of 24.2% EAR• 0.10% (gross) credit interest paid• Credit card limit up to £1,000 (Typical APR of 19.9%)• No commission charged in foreign currency
Account holders will receive regular text alerts and have access to a mobile phone banking app to help manage their balances. A personalised debit card is also included.
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