Best Student Bank Accounts of 2013

High street banks are constantly competing to draw students to their bank accounts. However, you need to look at how they word their advertisements, particularly regarding the overdraft. A "guaranteed" overdraft is the amount you will receive, whereas an "upto" overdraft is only potentially up to that amount, and does not guarantee an overdraft at all. The best student bank accounts for 2013 will depend on the flexibility of their overdraft, guaranteed overdraft amounts and any other additional products tailored to students.

Top Bank Accounts in 2013 for Students

On our list of best student bank accounts for 2013 we've included the usual high street banks for you to compare, but you must remember that, as a student bank account contains an overdraft and is a credit product, you will be credit scored for your account. Even though you may like the look of one account, you won't always be accepted by the bank.

Co-Operative Bank

The Co-Op is often renowned as one of the most customer friendly banks in the UK. In terms of the best student accounts in 2013, Co-op comes first on our list because of its guaranteed £2,000 overdraft by year 3. In year 1, they offer a £1,400 overdraft and an extension overdraft at 9.9% APR if you want to go above this limit after graduation. Co-Op also received a 74% customer satisifation rate for its communication and ethical practice.


Second in our list is Halifax, who offer the highest interest-free 'upto' student overdraft at £1,000 in year 1 and a potential £3,000 in year 3. However, Halifax charge 24% APR if you want an overdraft above the interest rate limit - so you should avoid this and stay within the limit Halifax has offered if you choose to go with them.


HSBC offer an intial interest free overdraft of £500 (not guaranteed) and a potential £3,000 overdraft in your third year. As a bonus, the account credits 2% of interest on what you have paid in, but only in your first year.

Choosing an account

When choosing the best student bank accounts in 2013 you have to look at what the bank offers and whether it's what you're looking for. Don't just pick a bank that's close to your university or campus, and if you are rejected from the high overdraft accounts you should look into another account which pays a lower initial overdraft, as your credit score will impact which account you can receive.

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