The best student bank accounts 2025 

How to decide on the very best pupil checking account

When selecting a pupil account, you usually wish to deal with the dimensions of the interest-free overdraft, regardless of freebies being tempting.

It’s additionally value noting that almost all accounts are designed for three-year programs, so test the phrases — particularly for the overdrafts — when you’ve got an extended diploma.

When your choices, these are the important thing inquiries to ask.

How large is the 0% overdraft?

A 0% overdraft might be important that can assist you get by your time at college. You gained’t be charged any curiosity on the cash in there, making them the most cost effective method to borrow cash.

After all, that you must watch out about utilizing it and never deal with it as free money as you will have to pay it back. You’ll typically have a number of years after you graduate (and hopefully begin working) to do that, besides, don’t spend this cash simply because it’s out there. 

The lengths of 0% overdrafts change between the banks – and also you won’t even get the marketed quantity. If the wording says the overdraft is “as much as” meaning you won’t get the excessive sum talked about within the adverts. 

But it surely is likely to be finest to not go for the biggest quantity, as the larger the overdraft the larger the temptation to make use of all of it. As a substitute, work out how a lot you assume you’ll want to make use of and ask for that.

Plus, even in case you assume you gained’t want one in any respect, it’s value selecting a financial institution that provides one and making use of for it firstly – you by no means understand how issues might change.

Some banks will even improve the dimensions of overdraft every year, although you usually must ask. This implies you possibly can’t blow all of it within the first yr.

Nevertheless, there might be situations hooked up to having considered one of these fee-free overdrafts, so ensure you learn all of the T&Cs upfront. It might be one thing like pay in £500 each time period. 

There’s additionally the prospect you could possibly get rejected for the overdraft so check your credit file earlier than making use of. Most college students gained’t have a lot on their file, nevertheless it’s value ensuring there’s nothing flawed there.

And naturally, in case you spend greater than your overdraft permits you could be hit with big curiosity fees of round 40%.

What freebies can be found?

Freebies usually come within the type of money, though we’ve seen some accounts supply different issues, corresponding to subscriptions, together with Headspace. Santander’s been providing a Railcard for years, an incredible perk in case you’re transferring additional away.

A few of these might prevent a good bit of money, in case you’d have purchased them anyway, that’s. These ought to typically be a second deciding issue when you’ve checked out overdraft choices.

It additionally pays to test how a lot these freebies would value in case you appeared round for additional offers and reductions. Usually the worth marketed is way larger than you’d truly must pay.

What occurs after you graduate?

Banks go all out for what you are promoting as a pupil as they know there’s a great probability you’ll persist with them for the remainder of your life – and that’ll make them cash. You’ll normally be moved to a Graduate account with the identical financial institution, however you don’t have to stay with them — you could possibly select a greater graduate account or go for financial institution switching money or different rewards. You can see the types of offers currently on offer here.

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The most effective financial institution accounts for college kids

Right here’s our decide of the very best accounts to get. You’ll be able to solely have one pupil account at a time, normally, however you possibly can open up extra normal financial institution accounts on high. 

You’re additionally in a position to change out of your pupil account to a brand new one if you wish to change banks mid-degree.  Nevertheless with most, you’ll be topic to a credit score test, so don’t apply for these too shut to one another.

As much as £3,000 overdraft: Nationwide FlexStudent

Perk: £100 money, one of many largest overdrafts and high moral alternative

The Nationwide student account presents £100 in case you open an account after 1 July 2025 and pay in £500 by 12 December 2025. You’ll be able to’t have had a FlexStudent or FlexGraduate account on 30 June 2025.

This additionally has one of many largest overdrafts over the course of the diploma (NatWest presents as much as £3,250 and HSBC additionally presents as much as £3,000). The overdraft builds step by step over your diploma, stopping you from blowing it multi function go.

That is up to now probably the greatest pupil accounts in 2025 as a result of its giant interest-free overdraft and the perks. It’s a good selection in case you’re frightened concerning the ethics of your financial institution, too.

You’ll even be eligible for the Nationwide Fairer Share payment in the summertime, which has been value £100 a yr for the final two years.

As much as £3,250 overdraft: Natwest or RBS Pupil Account

Perk: £85 money and a 4-year Tastecard

The interest-free overdraft is as much as £500 within the first time period after which as much as £2,000 after this. You’ll be able to stand up to £3,250 within the third yr. By providing you an rising quantity, you’ll be capable to finances extra effectively and scale back the danger of blowing all of it in Freshers’ week.

Natwest and RBS each additionally supply £85 money and a free 4-year Tastecard. In the event you don’t go for this account there are different methods to get cheap or free dining discount memberships.

Assured overdraft: Santander Edge Pupil

Perk: Free 4-year railcard

The Santander Edge Student account presents a assured £1,500 overdraft for the primary three years, so it’s a good possibility if you’d like certainty on how a lot you possibly can borrow. In the event you research longer it will increase to £1,800 in yr 4 and £2,000 in case you keep on for a fifth yr.

You additionally get a free four-year 16-25 railcard, a pleasant possibility if you’re more likely to be travelling by rail lots because it knocks a 3rd of prepare fares however I’d go for exhausting money as an alternative.

There’s additionally not less than £20 to be gained through a prize draw. Extra particulars in our full evaluate.

Different pupil accounts

It’s value testing these accounts too, a few of them supply good overdrafts, however they primarily supply freebies. These may appear extra enticing than 0% overdrafts, however in case you do must borrow, an overdraft might be value extra.

In the event you’re actually not bothered by an overdraft then it’s nonetheless value nabbing one and placing that money in financial savings.

The right way to get a pupil checking account

You must be over 18 and residing within the UK to get any pupil checking account, and most would require you to be firstly of your first yr to get the freebie. 

You’ll want to indicate ID corresponding to a passport, driving licence or beginning certificates. You’ll additionally must carry alongside proof of your acceptance to the uni or school – presumably your UCAS letter or college acceptance letter.

You don’t want to attend till you get to your college to open the account, so doing it now earlier than you head off means you may get your financial institution card and PIN despatched out and your on-line banking arrange upfront.

Can I’ve a couple of pupil account?

More often than not you possibly can solely have one “pupil” account, that is normally specified by every financial institution’s T&Cs – you’ll possible not get the perk or overdraft in case you try to try it. 

You can doubtlessly open considered one of these accounts to get the freebie, then shut it down and open up one other one (or change it). You’ll want to do that throughout the acknowledged timeframes to get any perks, and it’s value double-checking the T&Cs of every account to ensure you’re allowed.

There’s nothing stopping you from opening one other checking account that’s not obtained the “pupil” perks – maintain studying for extra on these.

Can I change my pupil financial institution?

You’ll be able to change your pupil checking account to some other account of your selecting, whether or not that’s one other pupil account with one other financial institution or a normal present account. That is so long as the financial institution is a part of the Present Account Switching Service.

In some instances, this may get you an additional perk, so it might be worthwhile.

If you wish to change after you’ve graduated, that is potential too, simply watch out about making an attempt to change in case you’re overdrawn, as you could wind up paying overdraft charges.

Can I earn curiosity on my financial savings?

Although a number of the pupil accounts will supply curiosity on cash within the account, they’re fairly restricted and never a purpose to choose one account over one other.

Nevertheless, in case you assume you’ll have extra money out there or don’t assume you’ll want to make use of all your overdraft, then you could possibly have a look at different savings accounts.

Simply watch out to not lock it away in case you assume you’ll must entry your financial savings.

May you stooze your overdraft?

Stoozing is the place you borrow cash at 0% and put that money into financial savings. Usually it’s through a specialist bank card – however you don’t want to try this when you’ve gotten an interest-free overdraft.

To take benefit you merely switch the cash out of your present account to a top-paying financial savings account. Placing £1,000 right into a 4% paying account will earn you £40 in curiosity in a yr.

In the event you’re assured you gained’t want to make use of the cash in any respect then you may get larger charges by fixing your financial savings.

In the event you do that, ensure you have sufficient money within the financial institution to cowl your on a regular basis spending. 

Different to pupil accounts

The majority of the specialist pupil present accounts may have completely respectable apps. However if you’d like one which’ll enable you to finances or have extra superior options you’ll wish to have a look at digital banks Starling, Chase or Monzo.

They’ve a lot of options that can enable you to do issues like maintain monitor of your spending, cut up your cash by function (e.g. payments, going out, groceries) and it’s additionally lots simpler to set alerts for when your stability is getting low.

Nevertheless, none of those supply particular pupil accounts and due to this fact don’t have a 0% overdraft. As a substitute, they might be a great secondary account alongside a high-street financial institution, getting you the very best of each worlds.  

I recommend utilizing considered one of these as your day-to-day financial institution or on a regular basis spending, transferring over a set quantity to spend every week from the scholar account with an overdraft.

They’re additionally respectable bets for spending overseas, whether or not learning abroad or on vacation.

You don’t have to stay with only a pupil account. You’ll be able to open one with different options at one other financial institution to make use of as well as.