Best Student Bank Accounts | moneyfacts.co.uk
Select from the filters to refine your results and find what you are looking for Show
Select from the filters to refine your results and find what you are looking for:

Santander Logo
Santander 123 Student Current Account FSCS logo
FSCS logo
Overdraft Rate (EAR)
N/A
Interest Rate (AER)
1.00%
Account Fee
N/A
Account Management
Available At Branch Not Available By Mail Available At Post Office Available By Telephone Available Online Available By Mobile Text Alerts Available
Additional Information
Interest free student overdraft of up to £2K
Funding of £500 per academic term required
1.00% AER credit interest on balances up to £2K
Representative Example:N/A
General
Credit Interest Rates
Foreign Usage
Service Performance
Overdrafts
Benefits

General Account Details

Funding Required
Regular Funding/Income: Min £500.00 Per Academic Term
Minimum / Maximum Age
Min 18 Years
Eligibility
None
Account Fee
None
Introductory Account Fee
None

Facilities

Cheque Book
Direct Debits
Standing Orders
Switch Service Guarantee
Debit Card
Visa
Withdrawal Limit
£300

Credit Interest Rates

Balance
Gross Rate %
AER %
£0.01 - £2000.00
1.00%
1.00%
£2000.01 - £1900000.00
0.00%
0.00%

Foreign Usage Charges

Debit card payment in a foreign currency in Europe / Worldwide
Currency Conversion Charge
2.95% / 2.95%
Transaction Charge
£0.00 / £0.00
Cash withdrawal in a foreign currency in Europe / Worldwide
Currency Conversion Charge
2.95% / 2.95%
Transaction Charge
£0.00 / £0.00

Service Performance

The table below shows the provider's current account service performance.
The information shown covers all of their main current accounts, not just specific to this account.
Service Completed
Same day Average 99%
Open a current account* 74% 1 day 9 days
Get a debit card 0% 7 days 7 days
Get internet banking 0% 7 days 9 days
Get an overdraft 99% 0 days 5 days
Replace a lost debit card 0% 4 days 5 days
* Once all requested documents and information have been received.

Overdrafts

Student Overdraft
Student Overdraft Available
Year 1
Up to £1500
Year 2
Up to £1500
Year 3
Up to £1500
Unarranged Overdraft
Unarranged Overdraft Available
Min. Balance
Rate %
EAR %
£0.01
0.00% - Per Month
0.00%
Refused Payment Fee
£0.00
Grace Period
20:00 same day
Monthly Maximum Charge
0.00

Benefits

Other benefits, as well as those shown, might be available on this account. A full list of benefits will be included in the terms and conditions of the account.
Account opening incentive (other than cash)
- Free 16-25 Railcard for new customers. Valid for four years, with students saving up to one third on most rail fares.
Cashback on debit card purchases
- Eligible for Retailer Offers, customers must use online or mobile banking to qualify. Earn up to 15% cashback from selected retailers when using a Santander debit card or credit card.
Cashback on debit card purchases
- Eligible for welcome benefits through Retailer Offers. Earn up to 20% cashback at participating retailers. Students have 30 days to activate and redeem their offer once account opened.
Exclusive offers with this account
- Free access to preferential rates, exclusive offers and discounts at 123 World.
Bank of Ireland UK Logo
Bank of Ireland UK Student Current Account FSCS logo
FSCS logo
Overdraft Rate (EAR)
N/A
Interest Rate (AER)
0.50%
Account Fee
N/A
Account Management
Available At Branch Not Available By Mail Available At Post Office Available By Telephone Available Online Available By Mobile Text Alerts Available
Additional Information
No account fee
Overdraft limited to £1.5K when course is 3 years or less
Interest paid on credit balances
Representative Example:N/A
General
Credit Interest Rates
Foreign Usage
Service Performance
Overdrafts
Benefits

General Account Details

Funding Required
None
Minimum / Maximum Age
Min 18 Years
Eligibility
None
Account Fee
None
Introductory Account Fee
None

Facilities

Cheque Book
Direct Debits
Standing Orders
Switch Service Guarantee
Debit Card
Visa
Withdrawal Limit
£500

Credit Interest Rates

Balance
Gross Rate %
AER %
£1.00+
0.50%
0.50%

Foreign Usage Charges

Debit card payment in a foreign currency in Europe / Worldwide
Currency Conversion Charge
2.75% / 2.75%
Transaction Charge
£0.00 / £0.00
Cash withdrawal in a foreign currency in Europe / Worldwide
Currency Conversion Charge
2.75% / 2.75%
Transaction Charge
No min, max £1.50 (Lower fee for payments in Euros within the EEA) / £1.50

Service Performance

The table below shows the provider's current account service performance.
The information shown covers all of their main current accounts, not just specific to this account.
Service Completed
Same day Average 99%
Open a current account* 79% 0 days 3 days
Get a debit card 0% 8 days 50 days
Get internet banking 0% 6 days 8 days
Get an overdraft 0% 8 days 19 days
Replace a lost debit card 0% 9 days 70 days
* Once all requested documents and information have been received.

Overdrafts

Student Overdraft
Student Overdraft Available
Year 1
Up to £3000
Year 2
Up to £3000
Year 3
Up to £3000
Unarranged Overdraft
Unarranged Overdraft Available
Min. Balance
Rate %
EAR %
£0.01
0.00% - Per Month
0.00%
Refused Payment Fee
£0.00
Grace Period
14:00 same day
Monthly Maximum Charge
30.00

Benefits

Other benefits, as well as those shown, might be available on this account. A full list of benefits will be included in the terms and conditions of the account.
Mortgages - preferential terms
- Eligible for exclusive mortgage deals.
Preferential terms for currency, travellers cheques or other travel money
- Commission free travellers cheques and currency.
Halifax Logo
Halifax Student FSCS logo
FSCS logo
Overdraft Rate (EAR)
39.90%
Interest Rate (AER)
0.10%
Account Fee
N/A
Account Management
Available At Branch Available By Mail Available At Post Office Available By Telephone Available Online Available By Mobile Text Alerts Available
Additional Information
Interest free student overdraft of up to £1.5K
No interest free overdraft repayment option following graduation
Earn up to 15% cashback via Cashback Extras
Representative Example:Based on an overdraft limit of £1200 charged at 39.90% EAR Variable. Representative 0.0% APR variable.
General
Credit Interest Rates
Foreign Usage
Service Performance
Overdrafts
Benefits

General Account Details

Funding Required
None
Minimum / Maximum Age
Min 18 Years
Eligibility
None
Account Fee
None
Introductory Account Fee
None

Facilities

Cheque Book
Direct Debits
Standing Orders
Switch Service Guarantee
Debit Card
Visa
Withdrawal Limit
£500

Credit Interest Rates

Balance
Gross Rate %
AER %
£1.00+
0.10%
0.10%

Foreign Usage Charges

Debit card payment in a foreign currency in Europe / Worldwide
Currency Conversion Charge
2.99% / 2.99%
Transaction Charge
£0.50. £0.00 (Fee for payments in Euros within the EEA) / £0.50
Cash withdrawal in a foreign currency in Europe / Worldwide
Currency Conversion Charge
2.99% / 2.99%
Transaction Charge
£1.50. £0.00 (Fee for payments in Euros within the EEA) / £1.50

Service Performance

The table below shows the provider's current account service performance.
The information shown covers all of their main current accounts, not just specific to this account.
Service Completed
Same day Average 99%
Open a current account* 98% 0 days 1 day
Get a debit card 0% 5 days 6 days
Get internet banking 19% 2 days 4 days
Get an overdraft 100% 0 days 0 days
Replace a lost debit card 0% 3 days 6 days
* Once all requested documents and information have been received.

Overdrafts

Student Overdraft
Student Overdraft Available
Year 1
Up to £1500
Year 2
Up to £1500
Year 3
Up to £1500
Unarranged Overdraft
Unarranged Overdraft Available
Min. Balance
Rate %
EAR %
£0.01
0.00% - Per Day
0.00%
Refused Payment Fee
£0.00
Grace Period
14:30 same day
Monthly Maximum Charge
0.00

Benefits

Other benefits, as well as those shown, might be available on this account. A full list of benefits will be included in the terms and conditions of the account.
Cashback on debit card purchases
- Cashback Extras - Earn up to 15% cashback from selected retailers when shopping with a Halifax credit or debit card. Customers must be over 18, be registered for internet banking and activate the offer to be eligible.
AIB Logo
AIB Student+ Account FSCS logo
FSCS logo
Overdraft Rate (EAR)
N/A
Interest Rate (AER)
0.00%
Account Fee
N/A
Account Management
Available At Branch Available By Mail Available At Post Office Available By Telephone Available Online Available By Mobile Text Alerts Available
Additional Information
Interest free student overdraft of up to £1,850
No interest paid on credit balances
Student advisers offering guidance on managing finances
Representative Example:N/A
General
Credit Interest Rates
Foreign Usage
Service Performance
Overdrafts
Benefits

General Account Details

Funding Required
None
Minimum / Maximum Age
Min 18 Years
Eligibility
None
Account Fee
None
Introductory Account Fee
None

Facilities

Cheque Book
Direct Debits
Standing Orders
Switch Service Guarantee
Debit Card
Visa
Withdrawal Limit
£500

Credit Interest Rates

Balance
Gross Rate %
AER %
£0.01+
0.00%
0.00%

Foreign Usage Charges

Debit card payment in a foreign currency in Europe / Worldwide
Currency Conversion Charge
2.75% / 2.75%
Transaction Charge
0.00% / 0.00%
Cash withdrawal in a foreign currency in Europe / Worldwide
Currency Conversion Charge
2.75% / 2.75%
Transaction Charge
Min 0.00%, max 1.50% (Lower fee for payments in Euro. Higher fee for payments in any other currency) / Min 0.00%, max 1.50% (Lower fee for payments in Euro. Higher fee for payments in any other currency)

Service Performance

The table below shows the provider's current account service performance.
The information shown covers all of their main current accounts, not just specific to this account.
Service Completed
Same day Average 99%
Open a current account* 86% 1 day 13 days
Get a debit card 0% 7 days 12 days
Get internet banking 0% 10 days 83 days
Get an overdraft 0% 0 days 0 days
Replace a lost debit card 0% 5 days 26 days
* Once all requested documents and information have been received.

Overdrafts

Student Overdraft
Student Overdraft Available
Year 1
Up to £1850
Year 2
Up to £1850
Year 3
Up to £1850
Unarranged Overdraft
Unarranged Overdraft Available
Min. Balance
Rate %
EAR %
£0.01
0.00% - Per Month
0.00%
Refused Payment Fee
£0.00
Grace Period
14:00 same day
Monthly Maximum Charge
N/A

Benefits

Other benefits, as well as those shown, might be available on this account. A full list of benefits will be included in the terms and conditions of the account.
Cashback on debit card purchases
- Eligible for AIB Rewards in partnership with Visa. Receive cashback rewards when spending on your Visa card at selected retailers. Cashback is paid into the registered debit card account used for the qualifying purchase within 5 working days.
Adviser offering financial services
- Free specialist advice service.
Loans - preferential terms
- Discounted rates on loans.
Preferential terms for currency, travellers cheques or other travel money
- No commission charges on foreign currency notes transactions.
Bank of Scotland Logo
Bank of Scotland Student Account FSCS logo
FSCS logo
Overdraft Rate (EAR)
39.90%
Interest Rate (AER)
0.00%
Account Fee
N/A
Account Management
Available At Branch Available By Mail Available At Post Office Available By Telephone Available Online Available By Mobile Text Alerts Available
Additional Information
Interest free student overdraft of up to £2K
No interest paid on credit balances
Earn up to 15% cashback with Everyday Offers
Representative Example:Based on an overdraft limit of £1200 charged at 39.90% EAR Variable. Representative 0.0% APR variable.
General
Credit Interest Rates
Foreign Usage
Service Performance
Overdrafts
Benefits

General Account Details

Funding Required
None
Minimum / Maximum Age
Min 17 Years
Eligibility
None
Account Fee
None
Introductory Account Fee
None

Facilities

Account Sweeping
Cheque Book
Direct Debits
Standing Orders
Switch Service Guarantee
Debit Card
Visa
Withdrawal Limit
£500

Credit Interest Rates

Balance
Gross Rate %
AER %
£1.00+
0.00%
0.00%

Foreign Usage Charges

Debit card payment in a foreign currency in Europe / Worldwide
Currency Conversion Charge
2.99% / 2.99%
Transaction Charge
£0.50. £0.00 (Fee for payments in Euros within the EEA) / £0.50
Cash withdrawal in a foreign currency in Europe / Worldwide
Currency Conversion Charge
2.99% / 2.99%
Transaction Charge
£1.50. £0.00 (Fee for payments in Euros within the EEA) / £1.50

Service Performance

The table below shows the provider's current account service performance.
The information shown covers all of their main current accounts, not just specific to this account.
Service Completed
Same day Average 99%
Open a current account* 98% 0 days 1 day
Get a debit card 0% 5 days 6 days
Get internet banking 39% 1 day 4 days
Get an overdraft 100% 0 days 0 days
Replace a lost debit card 0% 3 days 6 days
* Once all requested documents and information have been received.

Overdrafts

Student Overdraft
Student Overdraft Available
Year 1
Up to £1500
Year 2
Up to £1500
Year 3
Up to £1500
Unarranged Overdraft
Unarranged Overdraft Available
Min. Balance
Rate %
EAR %
£0.01
0.00% - Per Day
0.00%
Refused Payment Fee
£0.00
Grace Period
14:30 same day
Monthly Maximum Charge
0.00

Benefits

Other benefits, as well as those shown, might be available on this account. A full list of benefits will be included in the terms and conditions of the account.
Account opening incentive (other than cash)
- Receive a free TOTUM card for three years when account opened by 31.10.20. The card offers over 200 UK discounts on the high street and online, including Odeon, Café Rouge, ASOS and Thorpe Park.
Cashback on debit card purchases
- Everyday Offers - Earn up to 15% cashback from selected retailers when shopping with a Bank of Scotland credit or debit card. Customers must be over 18, register for internet banking and activate the offer to be eligible.
Barclays Bank Logo
Barclays Bank Student Additions FSCS logo
FSCS logo
Overdraft Rate (EAR)
N/A
Interest Rate (AER)
0.00%
Account Fee
N/A
Account Management
Available At Branch Available By Mail Available At Post Office Not Available By Telephone Available Online Available By Mobile Text Alerts Available
Additional Information
Interest free student overdraft of up to £3K
No interest paid on credit balances
Eligible for Barclays Blue Rewards
Representative Example:N/A
General
Credit Interest Rates
Foreign Usage
Service Performance
Overdrafts
Benefits

General Account Details

Funding Required
None
Minimum / Maximum Age
Min 18 Years
Eligibility
None
Account Fee
None
Introductory Account Fee
None

Facilities

Account Pooling
Cheque Book
Direct Debits
Offset Option
Standing Orders
Tied/Linked Accounts
Switch Service Guarantee
Debit Card
Visa
Withdrawal Limit
£300

Credit Interest Rates

Balance
Gross Rate %
AER %
£1.00+
0.00%
0.00%

Foreign Usage Charges

Debit card payment in a foreign currency in Europe / Worldwide
Currency Conversion Charge
2.75% / 2.75%
Transaction Charge
£0.00 / £0.00
Cash withdrawal in a foreign currency in Europe / Worldwide
Currency Conversion Charge
2.75% / 2.75%
Transaction Charge
£0.00 / £0.00

Service Performance

The table below shows the provider's current account service performance.
The information shown covers all of their main current accounts, not just specific to this account.
Service Completed
Same day Average 99%
Open a current account* 87% 0 days 7 days
Get a debit card 0% 4 days 8 days
Get internet banking 0% 4 days 6 days
Get an overdraft 37% 9 days 53 days
Replace a lost debit card 0% 2 days 5 days
* Once all requested documents and information have been received.

Overdrafts

Student Overdraft
Student Overdraft Available
Year 1
Up to £1000
Year 2
Up to £2000
Year 3
Up to £3000
Unarranged Overdraft

Benefits

Other benefits, as well as those shown, might be available on this account. A full list of benefits will be included in the terms and conditions of the account.
Cashback on debit card purchases
- Eligible for Barclays Cashback, earn cashback and discounts on goods, services and travel. Customers must use online or mobile banking to qualify.
Cashback on operating account
- Eligible for Barclays Blue Rewards. Eligibility criteria applies: £4pm charge, £800pm funding, 2 monthly DDs paid out, must be registered for online or mobile banking. All customers receive a monthly loyalty reward of up to £7pm (£3.50 for first 2 DDs) & earn cashback with Barclays Cashback partners. Mortgage customers receive an additional £5pm mortgage loyalty reward for the mortgage term. Earn 3% cashback when taking out or renewing home insurance. Unsecured personal loan customers receive an additional £1pm loan loyalty reward for the loan term. Earn £1.50pm when life insurance taken out and £5pm for life insurance with critical illness cover paid for a maximum of 12 months and only on one policy. Paid into a digital Rewards Wallet linked to a selected Barclays c/a.
Exclusive offers with this account
- Free personalised debit card. You can upload own pictures or choose from extensive online gallery.
Barclays Bank Logo
Barclays Bank International Student Account FSCS logo
FSCS logo
Overdraft Rate (EAR)
N/A
Interest Rate (AER)
0.00%
Account Fee
N/A
Account Management
Available At Branch Available By Mail Available At Post Office Not Available By Telephone Not Available Online Available By Mobile Text Alerts Available
Additional Information
Eligible for Barclays Blue Rewards
No overdraft available
Suitable for international students
Representative Example:N/A
General
Credit Interest Rates
Foreign Usage
Service Performance
Overdrafts
Benefits

General Account Details

Funding Required
None
Minimum / Maximum Age
Min 18 Years
Eligibility
None
Account Fee
None
Introductory Account Fee
None

Facilities

Account Pooling
Cheque Book
Direct Debits
Offset Option
Standing Orders
Switch Service Guarantee
Debit Card
Visa
Withdrawal Limit
£300

Credit Interest Rates

Balance
Gross Rate %
AER %
£1.00+
0.00%
0.00%

Foreign Usage Charges

Debit card payment in a foreign currency in Europe / Worldwide
Currency Conversion Charge
2.75% / 2.75%
Transaction Charge
£0.00 / £0.00
Cash withdrawal in a foreign currency in Europe / Worldwide
Currency Conversion Charge
2.75% / 2.75%
Transaction Charge
£0.00 / £0.00

Service Performance

The table below shows the provider's current account service performance.
The information shown covers all of their main current accounts, not just specific to this account.
Service Completed
Same day Average 99%
Open a current account* 87% 0 days 7 days
Get a debit card 0% 4 days 8 days
Get internet banking 0% 4 days 6 days
Get an overdraft 37% 9 days 53 days
Replace a lost debit card 0% 2 days 5 days
* Once all requested documents and information have been received.

Overdrafts

Student Overdraft
Unarranged Overdraft
Unarranged Overdraft Available
Min. Balance
Rate %
EAR %
£0.01
0.00% - Per Month
0.00%
Refused Payment Fee
£0.00
Grace Period
N/A
Monthly Maximum Charge
N/A

Benefits

Other benefits, as well as those shown, might be available on this account. A full list of benefits will be included in the terms and conditions of the account.
Cashback on debit card purchases
- Eligible for Barclays Cashback, earn cashback and discounts on goods, services and travel. Customers must use online or mobile banking to qualify.
Cashback on operating account
- Eligible for Barclays Blue Rewards. Eligibility criteria applies: £4pm charge, £800pm funding, 2 monthly DDs paid out, must be registered for online or mobile banking. All customers receive a monthly loyalty reward of up to £7pm (£3.50 for first 2 DDs) & earn cashback with Barclays Cashback partners. Mortgage customers receive an additional £5pm mortgage loyalty reward for the mortgage term. Earn 3% cashback when taking out or renewing home insurance. Unsecured personal loan customers receive an additional £1pm loan loyalty reward for the loan term. Earn £1.50pm when life insurance taken out and £5pm for life insurance with critical illness cover paid for a maximum of 12 months and only on one policy. Paid into a digital Rewards Wallet linked to a selected Barclays c/a.
Exclusive offers with this account
- Free personalised debit card. You can upload own pictures or choose from extensive online gallery.
HSBC Logo
HSBC Student Bank Account FSCS logo
FSCS logo
Overdraft Rate (EAR)
N/A
Interest Rate (AER)
0.00%
Account Fee
N/A
Account Management
Not Available At Branch Available By Mail Available At Post Office Available By Telephone Available Online Available By Mobile Text Alerts Available
Additional Information
Interest free student overdraft of up to £3K, guaranteed at £1K on opening
No interest paid on credit balances
Switch Service Guarantee member
Representative Example:N/A
General
Credit Interest Rates
Foreign Usage
Service Performance
Overdrafts
Benefits

General Account Details

Funding Required
None
Minimum / Maximum Age
Min 18 Years
Eligibility
None
Account Fee
None
Introductory Account Fee
None

Facilities

Cheque Book
Direct Debits
Standing Orders
Switch Service Guarantee
Debit Card
Visa
Withdrawal Limit
£300

Credit Interest Rates

Balance
Gross Rate %
AER %
£0.01+
0.00%
0.00%

Foreign Usage Charges

Debit card payment in a foreign currency in Europe / Worldwide
Currency Conversion Charge
2.75% / 2.75%
Transaction Charge
£0.00 / £0.00
Cash withdrawal in a foreign currency in Europe / Worldwide
Currency Conversion Charge
2.75% / 2.75%
Transaction Charge
2.00% (Min £1.75, max £5.00) / 2.00% (Min £1.75, max £5.00)

Service Performance

The table below shows the provider's current account service performance.
The information shown covers all of their main current accounts, not just specific to this account.
Service Completed
Same day Average 99%
Open a current account* 54% 1 day 12 days
Get a debit card 0% 6 days 19 days
Get internet banking 47% 2 days 7 days
Get an overdraft 99% 0 days 0 days
Replace a lost debit card 0% 3 days 6 days
* Once all requested documents and information have been received.

Overdrafts

Student Overdraft
Student Overdraft Available
Year 1
Up to £1000
Year 2
Up to £2000
Year 3
Up to £3000
Unarranged Overdraft
Unarranged Overdraft Available
Min. Balance
Rate %
EAR %
£0.01
0.00% - Per Month
0.00%
Refused Payment Fee
£0.00
Grace Period
N/A
Monthly Maximum Charge
N/A

Benefits

Other benefits, as well as those shown, might be available on this account. A full list of benefits will be included in the terms and conditions of the account.
Credit cards - preferential terms
- Access to Student Visa Credit Card with up to £500 credit limit.
Savings - preferential terms
- Access to HSBC Regular Saver paying 3.00% AER fixed for 12 months.
Lloyds Bank Logo
Lloyds Bank Student FSCS logo
FSCS logo
Overdraft Rate (EAR)
39.90%
Interest Rate (AER)
0.00%
Account Fee
N/A
Account Management
Available At Branch Available By Mail Available At Post Office Available By Telephone Available Online Available By Mobile Text Alerts Available
Additional Information
Interest free student overdraft of up to £2K
No interest paid on credit balances
Earn up to 15% cashback with Everyday Offers
Representative Example:Based on an overdraft limit of £1200 charged at 39.90% EAR Variable. Representative 0.0% APR variable.
General
Credit Interest Rates
Foreign Usage
Service Performance
Overdrafts
Benefits

General Account Details

Funding Required
None
Minimum / Maximum Age
Min 17 Years
Eligibility
None
Account Fee
None
Introductory Account Fee
None

Facilities

Cheque Book
Direct Debits
Standing Orders
Switch Service Guarantee
Debit Card
Visa
Withdrawal Limit
£500

Credit Interest Rates

Balance
Gross Rate %
AER %
£1.00+
0.00%
0.00%

Foreign Usage Charges

Debit card payment in a foreign currency in Europe / Worldwide
Currency Conversion Charge
2.99% / 2.99%
Transaction Charge
£0.50. £0.00 (Fee for payments in Euros within the EEA) / £0.50
Cash withdrawal in a foreign currency in Europe / Worldwide
Currency Conversion Charge
2.99% / 2.99%
Transaction Charge
£1.50. £0.00 (Fee for payments in Euros within the EEA) / £1.50

Service Performance

The table below shows the provider's current account service performance.
The information shown covers all of their main current accounts, not just specific to this account.
Service Completed
Same day Average 99%
Open a current account* 98% 0 days 1 day
Get a debit card 0% 5 days 6 days
Get internet banking 29% 2 days 4 days
Get an overdraft 100% 0 days 0 days
Replace a lost debit card 0% 3 days 6 days
* Once all requested documents and information have been received.

Overdrafts

Student Overdraft
Student Overdraft Available
Year 1
Up to £1500
Year 2
Up to £1500
Year 3
Up to £1500
Unarranged Overdraft
Unarranged Overdraft Available
Min. Balance
Rate %
EAR %
£0.01
0.00% - Per Day
0.00%
Refused Payment Fee
£0.00
Grace Period
14:30 same day
Monthly Maximum Charge
0.00

Benefits

Other benefits, as well as those shown, might be available on this account. A full list of benefits will be included in the terms and conditions of the account.
Account opening incentive (other than cash)
- Receive a free TOTUM card for three years when account opened by 31.10.20. The card offers over 200 UK discounts on the high street and online, including Odeon, Café Rouge, ASOS and Thorpe Park.
Cashback on debit card purchases
- Everyday Offers - Earn up to 15% cashback from selected retailers when shopping with a Lloyds Bank credit or debit card. Customers must be over 18, be registered for internet banking and activate the offer to be eligible.
Nationwide BS Logo
Nationwide BS FlexStudent - Funded FSCS logo
FSCS logo
Overdraft Rate (EAR)
N/A
Interest Rate (AER)
0.00%
Account Fee
N/A
Account Management
Available At Branch Available By Mail Available At Post Office Available By Telephone Available Online Available By Mobile Text Alerts Available
Additional Information
Interest free student overdraft of up to £3K
Funding of £500 per academic term required
£500 ATM withdrawal limit available
Representative Example:N/A
General
Credit Interest Rates
Foreign Usage
Service Performance
Overdrafts
Benefits

General Account Details

Funding Required
Regular Funding/Income: Min £500.00 Per Academic Term
Minimum / Maximum Age
Min 18 Years
Eligibility
None
Account Fee
None
Introductory Account Fee
None

Facilities

Direct Debits
Standing Orders
Switch Service Guarantee
Debit Card
Visa
Withdrawal Limit
£500

Credit Interest Rates

Balance
Gross Rate %
AER %
£0.01+
0.00%
0.00%

Foreign Usage Charges

Debit card payment in a foreign currency in Europe / Worldwide
Currency Conversion Charge
0.00% / 0.00%
Transaction Charge
£0.00 / £0.00
Cash withdrawal in a foreign currency in Europe / Worldwide
Currency Conversion Charge
0.00% / 0.00%
Transaction Charge
£0.00 / £0.00

Service Performance

The table below shows the provider's current account service performance.
The information shown covers all of their main current accounts, not just specific to this account.
Service Completed
Same day Average 99%
Open a current account* 100% 0 days 0 days
Get a debit card 0% 8 days 12 days
Get internet banking 0% 8 days 13 days
Get an overdraft 0% 3 days 6 days
Replace a lost debit card 0% 6 days 9 days
* Once all requested documents and information have been received.

Overdrafts

Student Overdraft
Student Overdraft Available
Year 1
Up to £1000
Year 2
Up to £2000
Year 3
Up to £3000
Unarranged Overdraft
Unarranged Overdraft Available
Min. Balance
Rate %
EAR %
£0.01
0.00% - Per Month
0.00%
Refused Payment Fee
£0.00
Grace Period
14:30 same day
Monthly Maximum Charge
N/A

Benefits

Other benefits, as well as those shown, might be available on this account. A full list of benefits will be included in the terms and conditions of the account.
Credit cards - preferential terms
- Eligible for Member Credit Card.
Loans - preferential terms
- Discounted rates on loans.
Savings - preferential terms
- Eligible for Flexclusive accounts.
Note

Eligible deposits with UK institutions are protected by the Financial Services Compensation Scheme up to a maximum level of protection of £85,000 per person per institution. Our data experts work tirelessly to make sure the rates and information we show are up to date and correct. Moneyfacts.co.uk Limited is an independent credit broker not a lender. We will receive a payment from credit providers where customers link to them from Moneyfacts.co.uk. None of these arrangements affects our independence.

Disclaimer

All overdrafts are subject to the applicant’s status. You may not be offered credit. All rates and fees are subject to change without notice. Please check all rates and terms before borrowing.

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A guide to student bank accounts

Derin Clark

Derin Clark

Online Reporter

At a glance

  • Student bank accounts offer interest free overdrafts that can make a big difference to students struggling to make ends meet.
  • Don’t be tempted by freebies; you’ll want a student account that offers benefits throughout your course.
  • If you’re sure you won’t need to borrow money, look for an account that offers in-credit interest or cashback instead.

Why should I get a student account?

Student current accounts are an essential accessory for anyone heading off to university. Even if you don’t think you’ll get a part-time job or student loan, you’ll need somewhere to hold your money, especially given the ease of contactless and the various budgeting options on offer, it’s easy to see why you’d want a student bank account if you don’t already have one.

Not only can these accounts offer great deals on railway travel or other attractive bonuses, they usually come with low or even no overdraft charges. That means that if you end up spending a bit more than you have in your bank account, you won’t have to worry about fees and interest adding to your debt.

Pros and cons of student bank accounts

  • Usually no account fees to pay.
  • Often come with freebies designed to appeal to students.
  • Some may pay you interest on the money you have in the account.
  • No or lower than usual overdraft charges.
  • Student overdrafts are generally much cheaper and easier than borrowing on a credit card.
  • Can switch at any time if you find a more competitive deal.
  • May not be the most competitive for those who never go into the red.
  • May come with certain requirements, such as to deposit a certain amount per term/every quarter or half year.
  • Improper management could have a negative effect on your credit rating.
  • If you don’t take note of the end of the 0% overdraft term, you could risk staying in the red once you graduate and start having to pay high charges.

Read our new guide How to manage finances as a student for a full overview on student loans, tuition fees, budgeting and money-making ideas.  

Student bank account FAQs

When can you get a student bank account?

Most student bank accounts have a minimum age limit of 18, while a select few have a slightly lower age of 17 to allow the account to be opened at this age in preparation for turning 18. If you can meet the opening restrictions, for example are aged 18 and over if required, a student account can be opened at any time.

Can you have more than one student bank account?

You can open multiple basic bank accounts; however, most banks will restrict you to only one student bank account at a time. This is usually because most student accounts come with an overdraft and a requirement of this is for your student loan to be paid into the account.

Do I need a student bank account?

Although you are not required to have a student bank account, a bank account is needed for your maintenance loan to be paid into. A bank account will also make it much easier to pay for everyday living costs, such as accommodation, bills and food. 

Can I switch student bank accounts?

Yes, you can switch your student bank account. You should check if your account has any restrictions on switching as some incentives require you to remain with your bank for a set period of time. Do note that every time you apply for a new student account, the provider will run a credit check, and this will show up on your report.

What do you need to open a student bank account?

Normally to open a student bank account you will need:

  • Proof of identification, for example a passport
  • Proof of a UK address, for example a utility bill
  • Proof you’re a student, or soon to become a student e.g. a university offer letter

Who offers the best student bank accounts for overdrafts?

Having an overdraft facility is an essential most students look for in a bank account. While the majority of student bank accounts offer an overdraft facility there are a number that stand-out as offering the best student bank accounts for overdrafts. When looking at the best overdrafts it is important to note that we have looked at the full term and not just the first year. Nationwide Building Society’s FlexStudent – Funded offers an interest-free overdraft of up to £ £3,000, while HSBC’s Student Bank Account also offers an interest-free overdraft limit of £ £3,000. Another bank that offers an interest-free overdraft of £ £3,000 is Barclays Bank with its Student Additions. NatWest’s Student Current Account and RBS’ Student Current Account both offer a slightly lower interest-free overdraft limit of £2,000, but which are still some of the best student accounts with overdrafts currently available.

Navigate back to rate table to view the best student bank accounts by overdraft.  

Who offers the best student bank accounts for incentives?

Along with an interest-free overdraft, a number of student accounts also offer incentives that are designed specifically with student needs in mind. Santander’s 123 Student Current Account, for example, offers a free 16-25 Railcard for new customers, which is valid for four years and saves students up to one third on most rail fares, making this account a great choice for students who regularly travel by train. Alternatively, RBS’ and NatWest’ Student Current Account both offer students the choice of the following offers – one-year free membership to Amazon Prime Student and £10 Amazon.co.uk gift card or National Express Coachcard which is valid for four years and gives 1/3 off fares plus 15% off travel to events and festivals, or a tastecard which is valid for four years and gives 50% off food, or 2 for 1 meals plus savings on entertainment. Another account that offers attractive incentives is HSBC’s Student Bank Account which offers £100 cashback for students and level 2+ apprentices (terms and conditions apply).

What happens after I finish my course?

After your course is finished and a certain amount of time has passed (this varies between providers), your account will be automatically changed into either a ‘normal’ current account or a graduate account. A graduate account would be the preferred choice here, as it means you will have a little longer to get back into the black, with most graduate accounts decreasing your 0% overdraft amount gradually over time.

Just as you can move to another student account if you find a better deal, you don’t have to stay with the same provider when your student account changes over. In fact, it’s a good idea to look around when you’re nearing the end of your studies, to try and find the best graduate account out there for your needs. Or, if you’re planning to continue your studies, you could opt for a specific postgraduate account instead.

Best Student Bank Accounts
Disclaimer

This information is intended solely to provide guidance and is not financial advice. Moneyfacts will not be liable for any loss arising from your use or reliance on this information. If you are in any doubt, Moneyfacts recommends you obtain independent financial advice.

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