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How to apply for a student bank account

Last updated: 7th June, 2012

how to open a student accountIt can sometimes be quite straightforward but to save yourself time and hassle it’s a good idea to know what you will have to do in order to open student bank account.

Especially seeing as you can be turned away for just having a poor credit score (check yours for free). It’s a good idea to prepare so here is your top guide on how to apply for a student bank account.

When can you apply for an account?

Before you can apply for the a student account you will need to have an offer letter from UCAS, whether it is conditional or unconditional, or an acceptance letter from your university.

This means that most students can apply for a bank account early in the summer to ensure that they can take full advantage of all the benefits that come with the account.

What ID do you need to open an account?

You will most likely need 2 forms of ID to prove your name and address. Don’t worry if you are applying with your home address and not your university one as it is easy to switch addresses once you move to university.

The ID that you can use includes: passport, driving license or a birth certificate.

How can you open a student account?

Opening a student account is not too tricky and if you already bank with the one that you choose then switching will be very easy. Obviously, we would stress that simply going with the same bank because you were with them when you were younger may not be a great choice or good reason to choose a student bank account.

To open up an account you just need to visit your local bank and ask to speak to an adviser. They will take you through the whole process and set you up with an account (if you have passed all of the requirements).

Don’t forget that the bank will check your ID and your credit rating so make sure it’s good. You can actually check your credit rating here for free.

All in all, opening a student bank account is quite a straightforward process, if you have all of the documents to hand. But there is no need to worry if not as the bank will advise you on what it the best action to take. Try not to rush into opening an account without knowing that you have everything ready.

Can you open an account early?

A select few students choose to open their new bank accounts a bit too early. Some even end up opening accounts before details of all the banks have been released. Unless you are desperate for the student overdraft there is not much need to open your accounts early.

The best option would be to wait until you start university or even receive your acceptance letter so that you know you are going.

 

By students

Hello! This website has been written by student money experts Save the Student! to give you an overview of student bank accounts and what they have to offer you.

The studentsWe review the benefits and catches of all student accounts so you can make an informed choice and avoid the traps!

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