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Best Bank Account for Student Without a Student Loan
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Nicebiscuit
Posts: 3 Newbie
I'm looking for a bank account for my daughter that offers as many perks as possible. However being a student ( 18 years old ) in school and soon to be attending a Foundation Course, she doesn't have a monthly salary or Student Loan to entice. However, she does have £1800 saving she can place to start her off ( which she will move back into saving once the account is set up ). She has a weekend job and other forms of part-time income to top up an account and she intends to use it to buy drinks, essentials etc.
Does anyone have any advice as to what account would be best? Many offer cash incentives to join but they ask for a monthly salary or student loan to get the best offers ( like Nat West and First Direct )
Does anyone have any advice as to what account would be best? Many offer cash incentives to join but they ask for a monthly salary or student loan to get the best offers ( like Nat West and First Direct )
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Comments
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Cash incentives are only offered for switching current accounts. Does your daughter already have a current account that she could switch?
For specific student accounts, check this https://www.moneysavingexpert.com/students/student-bank-account/0 -
She has a Go Henry Account which may possibly count as a current account and a cash ISA only . Do these count?0
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A standard student account needs a UCAS letter and they need to deposit their student loan into the account. As my daughter is at school for another six month and after that doing a Foundation Course she won't have the necessary paperwork for a student account0
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Nicebiscuit wrote: »She has a Go Henry Account which may possibly count as a current account and a cash ISA only . Do these count?Nicebiscuit wrote: »A standard student account needs a UCAS letter and they need to deposit their student loan into the account. As my daughter is at school for another six month and after that doing a Foundation Course she won't have the necessary paperwork for a student account0
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I'd personally suggest a TSB Classic Plus if she/he is happy to deposit £500 per month or Santander 123 Mini Current Account.
Eighteen just misses the FlexOne which would have been my other suggestionThis is a system account and does not represent a real person. To contact the Forum Team email forumteam@moneysavingexpert.com0
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