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best bank account for medical students?

(12 Posts)
DorisShutt Tue 18-Jun-13 15:11:54

RBS does one for five years iirc.

PointlessPost Tue 18-Jun-13 15:09:14

Most of my DS's friends (year three,medicine) don't work and, presumably, bank with the Bank of Mum and Dad. Obviously, it is not impossible to work and study but most, in his circle of not posh friends don't.
My DS does ad hoc work in holidays, such as festival work and bar work etc but generally doesn't work during term time. However, he does live incredibly frugally. He doesn't drink at all and always watches his money.

It makes him very happy when he comes home to our warm house with a full fridge.

Naoko Mon 17-Jun-13 14:59:18

I'm not a medical student but I've been taking longer over my PhD than the set time due to health issues, and HSBC just extend my student account (and its free overdraft) every time I show them that I'm still a student.

Delayingtactic Mon 17-Jun-13 14:56:37

Barclays offered me an interest free overdraft for the full time that I was a medical student.

2rebecca Mon 17-Jun-13 14:53:56

A part time job as a clinical medical student sounds tricky as many students have 2 months in this hospital then 2 months in that one and the work load is quite intense. I suspect that even if a bank offers a free overdraft for over 3 years now they may have changed in 3 years time anyway. I'd shop around now but be prepared to shop around in 3 years.

Yellowtip Wed 22-May-13 14:32:08

These medics have quite enough to do without swapping bank accounts on a regular basis and all the administrative hassle that that involves. DS has worked regularly since he was in Y9, the same as all of his siblings. He can't work during term-time at Oxford but he works in the holidays. He has a £1500 interest free overdraft with the bank he's had an account at since he was little but hasn't yet dipped into it despite being outgoing socially. Lots and lots of students have jobs in the holidays and if you think your son (or twins? - bit confused by the 'they') will be short of cash then he would probably do better working in the holidays to pay his way rather than trying to do fancy footwork between overdraft options.

alreadytaken Wed 22-May-13 08:17:04

interesting. I thought work was an option in early years but not later on? If they get their grades they'll be at Cambridge so working in term time isn't recommended. We'll be funding essentials but if they want to be extravagant they'll need an overdraft.

By year 4 they should be used to living within their means... and/or have a p/t jobsmilesmile

(DD1 is just finishing yr 3 of medicine btw! ) Swapping bank accounts would just be a pain , as you can bet that student loans would fail change the details.

DD1 didn't find any offering a 5 year free overdraft when she started but yr 3 they are 21 years old and should be capable of looking at fresh options if they really need to. It's also pretty easy to get bank health care work in hospitals once they are in clinical (yr 3 on) which makes money a bit easier for the less wealthy (us!) Most med students worksmile

creamteas Mon 20-May-13 18:54:33

Students, like everyone else, should shop around for bank deals every year!

Who is good in year 1, might not be later on.

Also if you can get away with it (and I know students who have managed it), if you swop to a new student account, don't ask close the old one. That way you can double (or triple) the amount of free overdraft smile

alreadytaken Mon 20-May-13 15:23:00

thank you but that focuses on what's available for years 1-3 so doesn't really help.

boomting Mon 20-May-13 13:10:43

I'm on my phone so can't link to the specific page, but there is an excellent guide to student bank accounts on

alreadytaken Mon 20-May-13 08:06:43

Most student bank accounts offer free overdrafts for up to 3 years but medical students may need these for 5 or 6 years. Any banks that offer good terms to medical students?

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