Is it worth opening a student account?

wigglywoozle

I'm starting a full time degree course in September. I'm 25, a separated lone parent, I work part time (16 hours per week for local Council), get working and child tax credits, maintenance payments from ex and child benefit as I have a 2 year old and expect to receive the full grant and loan. Should I open a student bank account? What would the benefits to doing so be and would there be any disadvantages seeing as I work as well?

Thanks

Kate x

netally

No disadvantages I can think of! You get an interest free overdraft and usually get some cool free gifts. Banks are keen to attract students, as they become the well paid grads of tomorrow so they give out good rates to reel them in.

djsban

Hey Kate,

Great choice on going back to studying!!

I am currently at university and would definately 100% advise on getting a student account if you can! You are automatically eligible for a interest free overdraft that is quite considerable £1,500; as this is interest free it is basically "free money" for the time that you have the account open. The way I work it is transfer the full amount of the overdraft into a ISA account and then make money on the free money!!!!

Plus I get a free 5 year rail card out of it!!

I cant really see any disadvantages to having a student account!!

Good luck with your studies!!