Can I have more than one student bank account?

craigrose98 · 6 September 2018 at 9:29AM

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?

Lokolo · 6 September 2018 at 12:45PM

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.

Dobbibill · 16 September 2018 at 7:37AM

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 about

Can I have more than one student bank account?

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