my-cumbria-logo, my-cumbria-logo Toggle navigation


Student Bank Accounts  


Opening a student bank account can help you to manage your finances. You’ll be able to set up Direct Debits for your bills and keep an eye on your spending using mobile banking, you can check your balance on the go and receive notifications if your balance dips below a certain amount.  Student bank accounts are aimed at students in higher educationMany offer freebies and usually they come with an interest free overdraftAn interest-free overdraft can be a sensible way of borrowing money if used correctly. Make sure that you stay within your limit so that you don’t incur charges and try to pay it off by working part-time or during the holidays. 

Shop around using a comparison tool, to help you choose the best bank account 

Save the Student best student banking guide  

Money Saving Expert Student bank accounts  

Compare the Market Student Bank Accounts  

It may seem like a long way off, however, after uni you can switch your student account to a graduate account to help clear your overdraft.  Your current bank will usually switch your student account to a graduate account but you can shop around to obtain the best graduate account. 

Top tips when using credit 


  • Tread carefully if you are considering using any source of credit 
  • Remember that credit is debt and will always have to be paid back 
  • Stick to the minimum amount you need to borrow and check that you can afford the re-payments 
  • Read the small print before signing anything as all credit agreements are legally binding 
  • Keep up your re-payments, as late or missed payments will incur charges and they may affect your credit rating 
  • Avoid short-term or "pay-day" loans - the interest rates can be very high 
  • Klarna, a leader of buy now pay later has become a popular app for Students. Be informed - find out more. 


If you are having difficulty keeping up re-payments on credit cards, store cards, or any other source of credit, please contact a Money Adviser for advice. 

Edit page