What to Look for with Student Account Comparison

Student bank accounts are needed and there are a few factors that you should consider when comparing them. Many people start looking at the free gadgets that are available but you should be more concerned with the overdraft limits and whether you can get one without interest; after all, there are high chances that you will need the buffer on your account.

If you look in the right places, you can get up to £3000 for an overdraft. However, the “up to” is the operative word here. This is not something that is guaranteed and you’ll need to look at that amount when it comes to student account comparison. There are a few that can guarantee £1000 when you open the account. Halifax are able to guarantee £500 when you sign up for the account, which is enough to act as a buffer, especially if you find that your laptop stops working. They can offer up to £3000 but that will depend on other circumstances and how well you budget your money. Most students have noticed that they will only get up to £1000 in their first year of study because it’s only possible to request a small amount each time.

Bank of Scotland offer the same deal as Halifax and if you look carefully, you will see that Lloyds TSB does too. These three companies are all owned by the same group. It’s worth checking this too when you come to your student account comparison.

Something that nobody will tell you is how to budget your money. As well as getting a guaranteed overdraft of £500 from HSBC, you will also gain a budget calculator, which will help you work out just how much you have to spend. There are other freebies involved with accounts and you may find that it is worth considering them when you come across similar overdraft terms.

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