An Idiot's Guide To Finding The Best Student Bank Accounts

It's important to open up a student banking account whilst at college or university

. It's also advisable to get this done prior to commencing with your studies, more so when you're applying for a student loan because the funds will be transferred straight into your banking account.

Here is a checklist with 5 important steps to assist you in selecting the best student bank account:

1. Requirements to open a student bank account:

* Copy of your LEA award letter (Student Loan finance evaluation form)

* Confirmation regarding your student status

* Identity documentation, e.g. passport, driver's license, national insurance card.

* Confirmation of home address during the term, Banking Statement, Utility Bill, etc.

2. Ask the following questions before opening up a student bank account:

* Is the branch offices close enough to phone in to talk about my finances?

* Do I have access to an ATM on campus near to my home?

* May I use my Cash Point card at other ATM's without any charges?

* Is a student adviser available?

3. Overdraft account facilities:

* Does the bank offer interest free overdrafts and how can I apply?

* Am I required to attend interviews with a student advisor before the overdraft is approved?

* Am I allowed to increase my overdraft limit?

* What are the consequences when exceeding my overdraft limit?

4. Banking charges:

* Does your bank bill for services? (Many banks don't charge for services when you stay within the arranged overdraft account limit)

* Am I going to benefit from interest gained on credit balances?

5. Graduate packages:

* Does my bank provide favourable terms to graduates? (Includes affordable over-drafts as well as loan consolidation to pay of over-drafts and various other debts)

* Is my bank able to assist if my initial loan instalment is late?

* What kind of student credit cards is available?

* Do they charge a commission fee for travel money? (Many banks don't charge)

* Are there any incentives and savings facilities on offer?

* Is phone banking and/or internet banking available?

An Idiot's Guide To Finding The Best Student Bank Accounts

By: Julianmn

POST COMMENT

Complete Your Desire With No Fax No Teletrack Payday Loans Loans For People On Dss-take Care Of Your Unforeseen Financial Phase Payday Loans No Faxing Is Too Easy For Loans 3 Month Payday Loans Quick Help To Combat Emergency No Telecheck Payday Loans-with No Checking Dig Up Loan Payday Loans Indiana Suppress The Emergency Needs Till The Payday Ideas to Assist You Cut Costs on Your Holiday Outer Banks Hotels Loans For Tenant: Instant Fund For Uk Tenants Payday Loans Illinois Perfect Fiscal Support For Needy People How To Build a Bankroll on Micros 2/4 5 Simple Tactics For Refinancing Consolidated Student Loans Uncovered Unsecured Loans For Unemployed-reliable Loan Aid For Jobless People No Income Proof Loans: Reliable And Cost Effective Funds