Student Bank accounts, are they worth it?

I’m not new to writing about student bank accounts. Previous articles have really considered the pros and cons, opportunities and dangers of leaping at the first deal you see.

Well recently I went back to university for my masters and I found that there were many new deals offered by banks on campus and on the high street directly focused on students – which once more, I am.

There was the rail card, the free £50, the free £100, the t-shirt, the free overdraft, the keychain, the cinema tickets, the Amazon vouchers… all for simply opening a new bank account for students.

Well this all sounds great and the question that crossed my mind was, “Can I have it all?” and the fact is that banks prefer that you are exclusively with them in return for the freebie. Some banks even have a mechanism to try to enforce this too.

This sounded fair to me but then came the rest of the information to guide my decision – What’s the best freebie? What type of service can I expect? Which bank is the most convenient? What can expect from this bank when I return from the salvation of studenthood? Is there anything naughty hiding in the bank’s T’s and C’s?

There may be other questions that I asked myself but these were the most important in making my decision.

For me I stayed loyal to Halifax. They have always helped me in my times of need and handled my questions quickly and professionally. Also they are around the corner from my student halls and so that’s a huge benefit too.

How about you? It would be great to hear your comments below with your experiences and the accounts you chose.

Tags: student bank accounts

Category: Student News