Best Student current accounts

Student current accounts work similarly to regular current accounts, but offer specific benefits to people in education to support you through your studies. Depending on the provider, student current account benefits may include an interest-free overdraft, cashback and perks like a free railcard.

A student current account offers extra financial support and reassurance if you're studying at university or other higher education. Whether you're studying full-time or part-time, it can be difficult to earn a living alongside your studies, making the interest-free overdraft a useful buffer in case of emergencies. The additional perks can also save you money in other areas including reducing travel costs with free railcards, exclusive discounts and offers, as well as cashback on purchases. The specific benefits vary from provider to provider, so it's worth comparing different accounts and reading customer reviews to find the best account for you.

Yes, you can have both a student current account and a regular current account at the same time. Many students choose to switch entirely to a student account so that they have a better view of their finances and budgets, but you could also keep a separate normal current account for income from a job, for example. Always check the terms and conditions of your accounts, as these can vary.

No, you don't usually earn interest on the balance of your student current account, but you can get an interest-free overdraft. Some providers will have a savings account that offers a preferential rate of interest if you have your current account with them.

When you graduate, your student current account will typically convert to a graduate bank account or a standard current account, depending on the provider. Graduate accounts often retain some student-friendly features, such as an interest-free overdraft, for a period after graduation to help you transition into employment. Check with your provider what happens to your account when you finish studying, as this varies between banks.

You can switch student current accounts using the Current Account Switch Service (CASS), which makes the process straightforward and usually takes seven working days. Bear in mind that some student account perks, like interest-free overdraft terms, may not transfer directly to a new account, so compare accounts carefully before switching and check any eligibility requirements.