One of your first tasks as important in many ways as
arranging your accommodation is to plan your finances. As a student, you will almost certainly face heavy financial pressure over
the next few years. Which is why it is important to organize your finances. Many
of the main banks give special incentives to students, if they open an account
with them, so before you open an account you may want to find a few details about
the banks and the types of accounts on offer. Most of the banks now offer online
banking on the internet and telephone banking but as a student you may still
require a local branch.
open a student account you most be an eligible student. In most cases that is :
note for most Banks students studding Conversion coursed, City & Guild, RSA,
GCE A level, GCSE, BTEC (Except HND/HNC) , NVQ (Levels 1 to 3), GNVQ, SQA,
Pre-registration Nursing & Midwifery diploma courses and Part time courses
are not eligible students.
Points to consider when wanting to open a student
- Location of the bank. Most student unions now have at least one
branch of a high street bank inside or near the main union building, in most
cases there is a cash points in the building.
- Overdraft facility. Although most banks now offer interest free overdraft
facility to students, they differ on the amount of overdraft, some banks do
not have student account and will charge an interest on overdraft.
- Account Incentives. A part from free interest on overdraft
facilities, some banks offer other incentives to students
Table below shows the major banks
Student Accounts with brief descriptions.
student accounts, Normal accounts available to students
BOOK & CD Voucher*
Insurance & £50 or a 4 year rail card
cash & £10 Virgin Voucher**
Insurance & Holiday & a CD player or £35
£40 voucher if you apply successfully for student Barclaycard (visa card)
Only applies to existing Lloyds TSB customers (or if your parents already
bank with Lloyds TSB), this account is by telephone or the internet. Interest
free overdraft up to £1500 during first 3 years of study and up to
£2000 during years 4 & 5 if still a student.
£20 first year discount on possessions insurance, Discounts on books, CDs,
Videos, phone bills, and various other benefits on concert tickets, holidays,
travel money & travel insurance.
The amount is set according to your finances, and you must prove that you need
Credit Card (Visa/Master) lost/stolen hot lines;
|Abbey National Bank
|Bank of Scotland
|Capital one Bank
|Egg Internet Bank
||0800-0969779 or 01273-204471
|Nationwide Building Society
|Royal Bank of Scotland
|Sainsbury's Visa Card
|Tesco Visa Card
||0990-168653 or 0990-168654