Do they really need a student account?

[spongedod]

DS is starting University (living at home) in September. When DD was at college she opened a student account and never used it. I was just wondering if there is any point at all in DS opening one? I don't want to miss something obvious

I used my student account for its large I interest free overdraft. Obviously if hes living at home he wouldn't have need to use one.
Some offer promotions like free rail card

Neither of ours have.

Is he living at home?

I kept going overdrawn as a student nurse. I had a horrible interview with a nasty bank manager about it once. Changed to a student account which had a £1500 overdraft. I paid it off within a few months of qualifying but it was dead useful at the time.

Yes, living at home. Also free bus travel from January so no need for a railcard or anything like that.

Does he get a nice, big, interest free overdraft?

There is no reason he would ever go overdrawn. Living at home with a full student loan and only having to pay travel costs for 4 months I can't see how there would be any need for an overdraft.

It's for the free overdraft.
Obviously not totally necessary if you're never going to be overdrawn. Many other countries don't have student accounts.

Ah so the main reason is the overdraft!

Thank you, it's not going to be needed at all.

Well, maybe there are other advantages. My student days are long gone...

No, my DC have regular adult bank accounts. Which were their child accounts that converted to their control at age 16.

The £100 Amazon voucher.

He could take money from the free overdraft, put it in a high interest account and pay it straight back when he graduates.
Most of the accounts offer free perks to join, a free railcard will save him money even if he only uses it once or twice.

@titchy

The £100 Amazon voucher.

Ooo this might be worth it. Which bank has that?

@Tibtab

He could take money from the free overdraft, put it in a high interest account and pay it straight back when he graduates. Most of the accounts offer free perks to join, a free railcard will save him money even if he only uses it once or twice.

He definitely won't use a railcard. The idea of using an overdraft for a few quid interest seems like more effort than it's worth tbh. It would cost as much I travel to and from the city to open the account as he would see in interest.

It was HSBC. Though they look to have changed now to £80 cash and £20 Uber Eats. See here:
https://www.moneysavingexpert.com/students/student-bank-account/

Are they not having a student loan? If they are, where would it be paid?

[quote titchy]It was HSBC. Though they look to have changed now to £80 cash and £20 Uber Eats. See here:
https://www.moneysavingexpert.com/students/student-bank-account/[/quote]

Thanks - good link.

Looking at that it seems it might be worth it for the free cash. We don't have any Uber eats in out area but the £80 would be nice! You only ha e to use the debit card 5 times to get it too.

@orangejuicer

Are they not having a student loan? If they are, where would it be paid?

Yes, he is getting a student loan. It will just be paid into his existing current account.

We don't have any Uber eats in out area

Vouchers can be sold online

@titchy

We don't have any Uber eats in out area

Vouchers can be sold online

Ah, now that's even better!