Student bank accounts come with many of the features of a regular current account (plus a few added incentives that aren’t available to regular consumers), which can be quite a surprise to some as you may not hae regular income going into the account.
One of the reasons that students get such good accounting facilities and why banks are prepared to lend student overdrafts and student credit cards is because the banks see you as a good bet for further down the line. Up until very recently students/graduates had a much higher probability of earning more money that their non-graduate counterparts which means better business for the banks in the long term.
Student account features:
Like we’ve said above, student bank accounts will often attract very similar features to that of a regular current account:
- Ability to pay in wages
- Internet access
- Ability to pay bills by direct debit and standing order
Quite often these accounts will also offer you the ability to apply for a low rate student credit card and student overdraft . . . Two features that can be particularly useful in your days at University.
Student Account Incentives:
Now, it may come as no surprise for you to hear that the banks see you students as pretty easy pickings and each year they’ll set loose with a range of incentives designed to persuade you to sign up for an account.
Rail cards, iPods, mobile broadband and shopping discounts are all incentives that get banded around as are interest free student overdrafts and interest free student credit cards.
The important thing here is not to be swayed by a particular incentive but to makesure that you get a complete package that you are happy with.
Student Account to Graduate Account:
Most student accounts will automatically be switched to a graduate account after a period of about 12 months after your degree finishes. At this point you will need to consider whether your new graduate account gives you everything you’re looking for.
There are a limited choice of student accounts from many of the major high street bank accounts such as HSBC, NatWest and RBS but you still need to choose wisely.
Student Accounts
Student Accounts
Student bank accounts come with many of the features of a regular current account (plus a few added incentives that aren’t available to regular consumers), which can be quite a surprise to some as you may not hae regular income going into the account.
One of the reasons that students get such good accounting facilities and why banks are prepared to lend student overdrafts and student credit cards is because the banks see you as a good bet for further down the line. Up until very recently students/graduates had a much higher probability of earning more money that their non-graduate counterparts which means better business for the banks in the long term.
Student account features:
Like we’ve said above, student bank accounts will often attract very similar features to that of a regular current account:
- Ability to pay in wages
- Internet access
- Ability to pay bills by direct debit and standing order
Quite often these accounts will also offer you the ability to apply for a low rate student credit card and student overdraft . . . Two features that can be particularly useful in your days at University.
Student Account Incentives:
Now, it may come as no surprise for you to hear that the banks see you students as pretty easy pickings and each year they’ll set loose with a range of incentives designed to persuade you to sign up for an account.
Rail cards, iPods, mobile broadband and shopping discounts are all incentives that get banded around as are interest free student overdrafts and interest free student credit cards.
The important thing here is not to be swayed by a particular incentive but to makesure that you get a complete package that you are happy with.
Student Account to Graduate Account:
Most student accounts will automatically be switched to a graduate account after a period of about 12 months after your degree finishes. At this point you will need to consider whether your new graduate account gives you everything you’re looking for.
There are a limited choice of student accounts from many of the major high street bank accounts such as HSBC, NatWest and RBS but you still need to choose wisely.