Student Finance 4 min read

Best Student Bank Accounts

There are lots of different student bank accounts available. The best accounts are always difficult to pick out because you have to think about which one is better for your specific needs.

Ben Maples

Published Feb 16th 2022

Do you pick the one with the best perks or do you pick the one with the better rates? Below we have a brief introduction to each of the best student banks. Obviously, the best student bank accounts are different from student credit cards.

What are student bank accounts?

Student bank accounts are financial accounts that house all of your money, your transaction history and details of any financial commitments you need to make.

As a student, you need a way to not only store your money for your student loan, maintenance loan etc but also for when you eventually find some part-time work to supplement your income.

There are a myriad of different bank accounts to choose from with different banks, however, the best three to look at in terms of enticing offers for students are Lloyds, Natwest and Santander.

The best deals for student bank accounts are not as simple as you’d want, so you need to keep an eye out on the important things.

Lloyds

Lloyds is one of the most popular banks in the UK. It is also considered to be one of the coveted “Big Four” clearing banks in the UK, which also includes the major banks HSBC, Barclays and The Royal Bank of Scotland (RBS). Lloyds has always been one of the most attractive banks for students to use as the Lloyds student accounts all offer incredibly attractive incentives for students to take advantage of.

Natwest

Natwest is one of the fastest-growing banks in the UK and relatively young in terms of its inception date. Natwest has existed since circa 1968 which makes it fairly young in terms of its existence in the UK banking scene, this means that it has been going for (at the time of writing) nearly forty-eight years.

Santander

Santander has always been one of the most popular banks in the world. One of the banks that has been there for students through the years and is one of the most popular banks for people looking for student accounts. Santander student accounts have long been one of the most popular ones to look into.

The perks and bank charges

There are plenty of benefits and rewards for working with various banks and taking out various accounts. This should give you the chance to compare best student bank accounts and see what are the best bank accounts for a student.

There are a lot of incentives to join, but these aren’t the main reasons to sign up (a bit like with a student TOTUM card). Now, the charges should make it clear to you which of the three banks are best for you.

We recommend that you pay close attention to these, however, there will be ups and downs to any one you pick outside of that as well. We recommend that you take it seriously when picking out the best student bank account for you.

Student bank accounts are financial accounts that house all of your money, your transaction history and details of any financial commitments you need to make.

Things to look out for

It’s tempting to take up an account with whoever offers the best interest rates, but you need to look for the best student bank accounts best deals for you aside from the interest rate. The best deals for student bank accounts are not as simple as you’d want, so you need to keep an eye out on the important things, such as: