You may already have a bank account and have set up direct debits and informed sponsors or Student Finance England for them to credit your bank account. However, it’s worth considering whether your existing account meets your needs as a student.
Researching student bank accounts
Before coming to university consider whether you need to change your bank or open a second bank account.
Important things to consider are:
- Is there a free overdraft facility? If so, how much is it for?
- Is there an overdraft facility post-graduation?
- What are the credit card offers?
- Try to limit the use of credit cards and avoid paying hefty interest charges
- Are there any free gifts for opening an account?
- Does the bank have a branch locally?
- This may prove useful even if you do nearly all of your banking online