Student bank account

Banks are competing hard and their main motto is business maximization. Student bank account is an option of increasing number of customers and motivating the younger citizens who are future investors. So, there remain a stiff competition between the financial institutions and leading banks regarding increase in the figure of student bank accounts. Before a student starts career, it is really essential to choose a proper bank who offer student bank accounts. Managing finances can be a major thing while you are a student and it is a good bank account that helps to be aware interest rates, free over drafts etc.


It is best to open a student account as you pursue higher studies and enter college. A student bank account nowadays often offers attractive options of free movie tickets and over drafts. So the monetary problems get minimized with a proper selection of student account. An interest free limits and overdrafts are the facilities that the student bank account provides. It is prudent to take a quick look at the facilities that the leading banks like Barclay, Bank of America, Citibank, HSBC, Lloyds TSB, Natwest etc offer to the students. Mobile and telephone banking are now offered to the students and beside these online banking is also provided.


Many of the student bank accounts come with alluring features that are similar to the current accounts. A quick glimpse at the eligibility criterion that any student needs to fulfill to get a student bank account:


Should be a resident/citizen


Should follow full time studies


May have additional main account with the bank offering student account


For graduate accounts often an employment confirmation needs to be provided


A student should be able to show his/her main source of funding the account


The interest rates of the student bank accounts may vary annually. So, while opening up a student bank account it is best to seek suggestions of the financial counselors. Also self research can provide a clear insight. It is worth mentioning that the banks motivate the students as they are the future customers with huge deposits. So, free movie tickets, rail cards, birthday gifts, flower bouquet etc are given to the students.


Adjustable credit limit is a major advantage of the student bank accounts. Many of the students fail to maintain the overdraft limit and unnecessarily enter into financial trouble. The overdraft limit must be maintained and the transactions should be done carefully. Regularly balance checking is highly advisable for the students.


Student life is often enticing and a tendency of excess spending while hanging out with the friends and nearer ones. This can have a detrimental impact on the financial stature and inappropriate expenditure may be the cause of poor credit stature. It is a good idea to discuss with the friends before opening up a student account. Plenty of information on student bank account can be obtained from the internet. Again, the web portals of the different banks offering student bank account are indeed interactive and from these sites it is possible to get effective information.


Other Articles

  • Enjoy cold drinks at your weekend...
  • The student credit cards are...
  • Take a quick look at the facilities...