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Can I have more than one student bank account?

craigrose98
Posts: 4 Newbie
Okay, so I'm a student just entering my second year at university and already have one student bank account from last year. I have opted out of having an overdraft and do not plan to open one any time soon. (I gather these are often an obstacle when opening more than one student bank account). Basically, I now want to open a second student bank account alongside my first one (£80 Amazon voucher and 2% more interest, why wouldn't I?!) and I'm not quite sure whether this is legal. Am I allowed to reap the benefits of two accounts, or should I really look at a switch?
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Comments
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You should read the T&Cs of the account.
Some require student loans to be paid in in order to benefit from the student account. I had two, one did not require student loan or regular payments going into it.0 -
There are a limited number of Students accounts that don't prevent another Student being opened - your T&Cs will have that info.
If you don't want to switch, have you thought about opening a normal current account that earns interest on the balance - there are a few aboutI’m a Forum Ambassador and I support the Forum Team on the Budgeting & Bank Accounts, Credit Cards, Credit File & Ratings and Energy boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.
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