How to open a student bank account

Written by Eve D

Graphic Design BA (Hons) Student

Student life

Kingston Connect

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Starting university comes with a lot of firsts, including setting up a student bank account. Choosing the right one is important because it can save you money and offer some useful perks while you're studying.

Choosing the best student bank account

Most banks in the UK offer a student account. However, they can differ in terms of the perks offered and the amount of interest-free overdraft available.

For example, Santander offer students a free four-year railcard and a base overdraft of £1,500, whilst NatWest and Nationwide offer students £100 and the opportunity to increase overdrafts year-on-year. Since you’re usually only allowed one student account, it can understandably be quite a tough decision.

Try and weigh up what benefits you the most and compare accounts accordingly. If you commute, a four-year railcard might save you a lot of money, but if you live on campus and rarely take the train, the £100 cash might be a bit more useful. It’s also important to consider which banks are closest to you, or which ones you have easy access to. If you need to visit a branch in-person, you don’t want to have to travel miles just to get there.

Luckily, students at Kingston University have tons of options nearby. HSBC, Santander, NatWest, Barclays, TSB, Halifax, Nationwide and Lloyds all have branches near Kingston upon Thames town centre.

Requirements to open a student bank account

To open a student bank account, most providers will require you to have lived in the UK for three years prior to starting university.

Other requirements typically include:

Being over the age of 18
Proof of student status (either your 16-digit UCAS code or an official letter of acceptance from your university)
ID (passport or driving licence)
Proof of address.

Some banks will only allow students to open student accounts within their first year of study, and some may require that your student loan (or a set amount of money) is paid into that account. Make sure to read up on the terms and conditions before you choose a bank.

How to apply: online or in-person?

Nowadays, most banks accept both online and in-person applications for student bank accounts. However, I’ve always found in-person to be the best approach, as you can usually sort through the process much quicker with a member of staff there.

Hopefully, I’ve encouraged a few first-year students to consider setting up a student bank account soon and get saving!