The "best" student bank account is subjective and depends heavily on an individual's priorities and lifestyle. While there isn't a single definitive answer that suits everyone, several banks offer highly competitive student accounts with attractive perks. The ideal choice comes down to which benefits align most closely with your personal needs during your studies.
Leading Student Bank Account Perks
When comparing student bank accounts, the initial perks or ongoing benefits are often a significant deciding factor. Here's a look at some prominent banks and the unique advantages they provide to students:
| Bank | Perk |
|---|---|
| Lloyds Bank | £110 in cash |
| NatWest | A tastecard which is valid for four years |
| Barclays | A free three-year subscription to Perlego's online library of books |
| Santander | Free 16-25 Railcard which is valid for four years |
Choosing the Right Student Account for You
Beyond the initial incentives, it's crucial to consider other features that contribute to a truly beneficial student account for your university life:
- Overdraft Facilities: Many student accounts offer interest-free overdrafts, which can be invaluable for managing unexpected expenses. Always check the interest-free limit, how it might increase over your university years, and any charges for exceeding it.
- Mobile Banking App: A user-friendly and feature-rich mobile app allows for easy management of your finances, including checking balances, making payments, and setting up direct debits, all from your smartphone.
- Customer Service and Support: Consider the bank's reputation for customer service. Access to helpful and responsive support, whether online, by phone, or in a branch, can make a big difference if you encounter any issues.
- Additional Features: Look into other potential benefits such as budgeting tools within the app, opportunities for savings, or integration with other financial services.
Ultimately, the most suitable student account will be the one that provides the most relevant perks and useful features for your specific financial habits and academic journey.
