Top Student Bank Accounts 2013

Last updated: 18th January, 2013

Top Student Bank Accounts 2012This year’s student bank account figures have finally been released and they are slightly disappointing to say the least.

Many banks have cut back on their freebies and offerings to students with some even cutting back on the maximum overdraft.

However, there are a few banks that really shine above the rest which makes them the top student bank accounts for 2013. As always, it’s the biggest interest-free overdraft you should be after.

WarningNot all students will get the full overdraft, it depends on your credit rating. Luckily you can find out what banks think about you by getting a free credit report online through Credit Reports Matter. We have tried & tested this service ourselves and it’s the best we’ve come across, though you’ll need to cancel your free trial once you’ve received your report.

You can take a look at the full list on the homepage but below are the top 3 (as well as a run down as to how we rank these accounts).

Top 3 student accounts for 2013

Student bank accounts change every single year depending on the market and each banks current situation. It’s down to you to be savvy and choose the correct account for you. Here at we want to make the decision easier for you by comparing the ins and outs of each student account and raking them based on a number of factors including overdraft limit, secret catches, freebies & much more.

(If you take a look below the table you can see each factor we took a look at when choosing the top student bank account for 2013).

1. Co-op Student Account

Co-op Student Bank AccountThis bank account was a favourite in 2011 and is the top student account for 2012. The Co-op was quickly highlighted as the most ethical banking choice for students because of the transparent terms and conditions as well as excellent customer service.

It was voted the top student bank account by us and a number of other sites such as Save the Student! 

The 0% overdraft on offer was guaranteed to any student that was able to open an account dependant on their credit rating (check yours with a free trial here). It went up to a total of £2,000 in the 3rd year of university after being £1,400 in the 1st year and £1,700 in the second year.

Unfortunately, there was no freebie available in 2012 but the quality of the account makes up for this.

There is also no Co-op graduate account at this time but you can always switch.

2. Halifax Student Bank Account

Halifax Student Bank AccountHalifax is one of the top student bank accounts because it offers a whopping £3,000 0% overdraft. However, it is not guaranteed. You will be able to apply for a maximum of £1,000 in the first and up to the £3,000 in the third year, all dependent on your credit rating again.

Man students report that you could be looking at a maximum of £1,000 in the first year and then attempt to increase it from there. However, going over the 0% overdraft limit can be extremely costly with this account.

It’s worth noting that the Halifax graduate account is one of the worst because the terms actually ask you to pay back the whole £3,000 within the first year.

3. Santander Student Account

Santander Student AccountSantander takes a new spot in the top student accounts 2012 top 3. They have been working hard on improving their student account and it has paid off.

It offers a 0% overdraft limit of up to £1,500 which is guaranteed for every student who is able to open an account.

The added bonus is that if you open a Santander student bank account by the end of November you will be eligible for a £50 reward which could be handy for an expensive freshers’ week.


Top Student Bank Accounts Comparison Table

student bank account comparison

How do we rank the student bank accounts?

You may wonder how we are so informed about student accounts. It’s down to a lot of research and a secret ranking formula based on a number of factors. If you are interested in the factors that we take into account when comparing the student bank accounts on offer they are listed below with a little bit of info on each part.

0% Student Overdraft

There are a lot of factors to consider with the overdraft on offer to students. Are they tiered? Do you get the full amount straight away? Is it guaranteed or “up to”?

We take all of these things into account when voting for the top student bank accounts.

Student Overdraft Charges

We take into account the charges for going over your overdraft limit (both planned and unplanned). Some banks have very high interest rates on those going over their overdraft limit and it can catch a number of students out. It’s important to point out at this stage that if you feel you will go over your 0% overdraft limit then it is worth arranging it with your bank so that you don’t get overcharged.

Student Account Catches

There are some banks that have slight catches. This will have a slight affect on our top student account 2012 choice as we want to protect students from getting stung by hidden charges and offers that look too good to be true.

Freebies on offer

The student bank account freebies can vary. Some can be extremely useful whereas many are just insignificant gifts that are used as bait to attract students looking for an account.

Although the freebies don’t have much of an affect on our top student account choices, if a bank was looking to give away free cars then we would probably vote them at number one…;)

If you are looking for the full list of accounts and more information then you may want to head over to our main student bank accounts page.


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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