Discover the Best Bank Accounts for Students 2024

Did you know that you may qualify for a bank account designed for students? A student bank account is a current account specifically for students in higher education in the UK.  

Student current accounts offer extra benefits than a regular current account. Each bank will offer its own benefits, but they may include an interest-free overdraft and discount on railcards or shopping vouchers.  

Several banks offer student accounts in the UK but finding the one that’s right for you can be a challenge. It’s always best to do your research and talk to an expert from the bank, before signing up. 

For most of these accounts, you must be a UK resident to be eligible to apply. If you’re an international student looking for a UK bank account, check out our advice on how to open a UK bank account. 

  
Five of the top student bank accounts in the UK:  

Santander 

• 0% overdraft of £1500 for the first 3 years, £1800 for year 4 and £2000 if you stay on for year 5 (provided you register for online banking and pay in £500+ every four months). 

• Free 4-year 16-25 railcard (worth £100)  

If you travel by train frequently, this is your best option. A 16-25 railcard can save you on average £167 per year.   

Nationwide 

• £100 cash and a £10 Just Eat voucher every month for a year. 

• 0% overdraft of £1000 in the first year, up to £2,000 until the end of year two, and up to £3,000 in years 3 and beyond  

The £100 is paid into the account within 14 working days of depositing your first £500+ (by 13th December 2024) and you’ll receive an email with details on how to redeem the Just Eat vouchers. Vouchers must be claimed within 30 days of the email being sent.  

NatWest and RBS 

• £100 cash and a four-year tastecard  

• 0% overdraft of £500 in the first term, then up to £2,000 until the end of year two and up to £3,250 from years 3 and beyond  

The £100 is paid into the account within 10 working days of the account being opened and you’ll be emailed a code to redeem the tastecard within 5 days.  

HSBC   

• Get a guaranteed interest-free limit of up to £1,000 in your first year, which could rise to £3,000 by year 3.  

How much your overdraft limit will increase to depends on your credit score, and you will need to request an increase from the Bank. 

If you’re still not sure which student bank account to apply for, use the comparison feature on Money Saving Expert or Save the Student.