I need to choose a bank and I’m unsure which to choose, what should I do?

When choosing a bank don’t be swayed by the free gifts and special offers. If you choose wisely and budget well you will be able to afford some of those things anyway.

Before opening a student account you should ask questions such as:

• Is an interest free overdraft being offered?
• Can the overdraft be increased over the 3 years? Typically the overdraft available increases by up to £500 each year to limit overspending.
• How much interest is charged if the free overdraft limit is exceeded?
• Is there a fee for increasing the overdraft?
• How will my overdraft be treated when I graduate?
• When does the bank start charging interest after graduation?
• What interest rate will be charged?
• Is there a period of lower interest rate to give you a chance to repay some of the overdraft at a lower rate?
• How much interest will the account earn if it's in credit?
• How much will an unauthorised balance or bounced cheque cost?
• Does the bank/branch have a Student Adviser who knows about students and can offer advice about money management?
• Is there a branch in my home town too?
• Can I get a cash card / cheque book / cheque guarantee card?
• Can I access telephone or internet banking?
• Will I be able to approach the bank in person to request an overdraft or will I need to contact a call centre?

If you are an international student you will need to identify what letters or documents the bank needs you to provide in order to set up an account. See the Guide for Incoming International Students.