Smile Student Bank Account

Last updated: 28th September, 2012

Smile Student Bank AccountThe Smile student account is down the list in popularity for students but their honest banking style and the fact that they are completely online has appealed to students in recent years.

If you have a look at our comparison of all the student bank accounts you can see that it came last. But by no means does this mean that it’s the worst.

Smile is also closely linked with Co-op bank who came first in our student bank accounts 2012 list.


The overdraft for the Smile student account is up to £2000 and runs in a similar way to what is on offer from the Co-op in 2012. The full £2,000 amount is only available once you have graduated but the fact that you get up to £1,000 in the first year is a good draw.

Year 1 – £1,000

Year 2 – £1,400

Year 3 – £1,800

Year 4 – £2,000

Going over the limit

Obviously it may be best to seek alternative finance before going into an unnaranged overdraft but the figures for Smile are some of the best out of all the student bank accounts this year as you can see from the best student accounts guide.

If you feel you are going to go over then make sure that you always arrange the overdraft.

Arranged – 9.9%

Un-arranged – 18.9%.

Smile student freebies

The are no Smile student account freebies as it is simply a no frills account.

Smile would rather attract students by offering a great service and good overdraft rates as opposed to freebies. You shouldn’t be disappointed that there are no freebies on offer as most of the time they tend to not be worth a lot!

Banking Features

The Smile student account is run online so the online banking service is top notch. The customer service for students is also extremely good.

You get a debit card and cheque book with the former allowing you to withdraw money from 64,000 LINK cash machines for free.

All in all, it’s simple and straightforward.

How to open a Smile account

To open the account you must:

  • have lived in the UK and been a permanent resident for 3 years
  • be a UK national studying full-time min
  • make a deposit of £300
  • Prove that you are receiving funding over £2,500
  • Pass a credit rating test.

You can apply for the Smile student current account here.

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!

By students 2

Video: How to choose a bank account

Search the site

The Essential Student Guide to Finance

Click to download for free!

Get Our Free Student Money Tips: