For a student who is planning to continue his higher education, it is very important for him to find the right bank account. Sometimes, many students face problems in managing their finances and cover all expenses related to their studies. This article has many tips and advice on how to find the best student bank account.
First of all, it is very important for you to know what kind of account you need as per your requirements. There are hundreds of options available nowadays. Do not rush in making a decision. It is advised to compare the accounts with different banks and analyze how their terms and conditions differ.
Check with different banks on what interest rates are offered in opening an account. It is an extra income that you will earn on the capital amount. You will earn more in interest when you deposit a huge amount in your account.
It is a problem with many students that they get into huge amount of debt as they are pursuing higher education. For this reason, a bank account having overdraft facilities will be a good choice. You don’t want to get penalized for getting into debts. Its easy to arrange an overdraft facility and you should also know how to deal with it once you have completed your graduation.
Customer support is a very important factor with any bank. Make sure that the bank with whom you open your account has a friendly staff and excellent customer service. They should be easily available on the phone, email and in-person visits.
Many banks will offer a credit card or a debit card with the bank account that you open with them. This will help you access your money and pay off your bills quickly. Be wary of credit cards that have less than favorable interest rates. Internet banking facilities will help you in operating your bank account quite easily. It will be easy for you to keep a track of your finances without having to spend a lot of time calling the customer support of the bank.
For more info about student finance visit: http://www.studentfinance.direct.gov.uk/portal/page?_pageid=153,4680119&_dad=portal&_schema=PORTAL