CHECKLIST: What to expect from a good Student Account

Alternatives

 Be aware of the following precautions in order to better manage your account.

• The British banking system allows you to draw cash from your branch only by using your cheque book. Contact your bank immediately if you lose it, or if you lose your debit card.
• Remember that you might be charged every time you withdraw money from another entity’s ATM.
• Read the bank’s small print on its policies on overdrafts. Be aware of when an overdraft is authorised and when it is not. Let your bank know if you are going into overdraft, so that it is authorized. Find out how much you will be charged in each case.
  • Avoid overdrafts. Remember that it might take between two to six working days for any money paid into your account to be recognized. You might get charged even for small overdrafts.
  • Avoid choosing a bank account because of its cash incentives. Think in the long term benefits your bank can provide you with.
  • Your student account will stop having the same benefits once you graduate. Ask your bank for further details. Evaluate whether remaining with the same bank offers you more benefits than other entities.