Is it a good idea to get a student bank account when starting university?
I should be starting university in the autumn and I will be leaving home. I currently have a Nationwide Flex-account and my wages get paid into that account. I've noticed a lot of banks advertising student accounts. Is it advisable to get a student account or is it ok for me to continue using my current account? I currently have a £100 overdraft but it is possible for me to increase this if necessary.
Higher Education (University +) - 2 Answers
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Answer 1 :
do you have an overdraft facility with the bank account you've got at the moment? i know you won't be planning to get into debt but the reality is that a lot of students find they need to go into their overdraft at one point or another. if you've got an overdraft there's no benefit in changing accounts really, except that some student accounts give you a small free gift for opening one.
Answer 2 :
no harm opening another account but be careful that you do not get into overdraft for the new account. I would not close the first account either.. Just keep it as I may still need it someday.
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