Live Life Team
When going away to university it’s a good idea to open a student bank account. You will need a bank account for your student loan to be paid into as well as any other payments for part time work you undertake.
Most high street banks offer student accounts, and you will find that they all offer discounts and freebies to try and get you to sign up with them.
When choosing a bank to open an account with you should consider several different factors. Does the bank have a branch nearby in case you need to go in to discuss your account face-to-face, Are you able to use the cash card in other bank machines without being charged, Are they student friendly, and do they have a dedicated student advisor, What type of overdraft will I be eligible for, and for how long is it interest-free, What happens if I go over my overdraft limit, These are all questions you should find out the answer to as it will make your life a lot easier in the long run in case things go wrong.
When opening an account it is important that you take the correct documentation with you to the branch. The bank will want to see proof of you being a student, identification such as a passport or driving license, proof of address, and details of your student loan.
Remember to read the small print when opening accounts and not to get caught out. The last thing you need while you are studying is getting hassle from the banks.
