UK students – which student bank account to pick

Choosing the right student bank account is essential if you want to be a happy student πŸ™‚ The stress and trauma you will go through if you pick the wrong account doesn’t bear thinking about; going over your overdraft limit, not having enough overdraft etc.

I cannot recommend too highly this article on Money Saving Expert, make sure you read their guide to Student Accounts 2010/11 . In summary, they say, ignore all the freebies to entice you in, what you really need as a student is the bank account that will give you the longest and largest interest free overdraft!

The other big tip Β for managing your money you should take from this article, is to not include your interest free overdraft as part of your general income:

“…add up student loan + grants + employment earnings + money from family. Then make sure you don’t spend more than that figure.”

At the bottom of the article they recommend their choice for this year’s students and you can also see all the major high street banks and compare what they are offering on their student bank accounts.

Read it now if you haven’t already sorted your student bank account!

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