Finding the best student accounts

Many of the gifts that have been offered in the past include railcards, USB sticks, MP4 players and other various items. The student accounts also come with excellent perks and discounts, including discounts at Amazon, Blackwells, McDonalds, Burger King, Topshop and many other massive high street stores. This gives you a broad range of outlets where you can save money, including places for recreation as well as education.

Another bonus for student accounts are the overdraft facilities that are on offer. These overdrafts are often interest free, allowing you a safety net should you become financially distressed. Normally these overdrafts will begin at a lower amount of between £500 and £1000.

Should you reach the end of this overdraft in your first year the bank may offer to extend it, however a lot of banks extend the overdraft offered to you each year, so if your overdraft is set at £1000 in the first year the bank may extend it to £2000 in the second.

Although it may seem tempting to take advantage of these overdrafts, you should only use them as a “back up” should your financial state worsen, as some banks begin charging interest immediately after you graduate. However, there are a number of grants that will upgrade your student account to a graduate account that may last for two years after study.

A lot of the student accounts are now catering to people from alternative backgrounds, including Islamic student accounts, meaning nobody is excluded from financial help or any of these great offers. The student accounts also normally come with the ability to bank online or via your mobile telephone, allowing you an easy way to keep an eye on your funds and save paper!

Student accounts usually come with a debit card and cheque book for withdrawing funds, however many student accounts now come with a student credit card, giving you further financial relief. You should review the terms and conditions of your student account regularly and ensure you read any messages your bank may send out to you.

With so many student accounts on offer it is difficult to work out which one to pick. The best thing to do is to do your research, assess what's on offer and ask friends and family about the choices they have made and how they worked out.

Student accounts are there to help you through your studies and if you make the right choice you can really reap the benefits and if the service is of a good standard, you can continue banking with them into the future.