Barclay Bank Student Account

If you are moving to college and are looking for a suitable bank to manage your funds, then Barclay bank student account is an excellent option for you. Barclays is an old name in the banking industry and has not reported losses in the recent history. In these worse economic conditions, where big names in the banking sector have failed to keep up to their promises, Barclays have provided all the privileges to its customers. In addition to raising interest rates for adults, the bank has done hitherto to students as well.

To be eligible to open a student bank account at the Barclays, you need to fulfill some criteria. The most important being that you are required to be enrolled in a full – time higher education program in the country’s higher education program. This mandatory requirement arose from the fact that many people try to have the benefits of the bank account of a student, even if they are not a student. To prevent such acts, you need to produce an identity card issued to you from your college for proof requirements. Also you need to be a permanent resident, as foreign students are not entitled to enjoy the benefits of the Barclays student account. This is a privilege for the students who are national, and also encourages the rate of education among the students of its own nation.

The eligibility criteria also requires that you are studying in college, as you are required to submit a proof for your educational title certifying that it is a degree course or a course similar to the postgraduate degree. To enjoy the full benefits of the students account, you need to ensure that the main source of your funding is paid into your students account. It can be the salary that you earn from your part time work or your parents supporting your education. Also you must ensure that your main account is with the Barclays bank. Once you are found eligible to open a student’s account, you get to enjoy the whole lot of features that the Barclays offer to its students.

The most important feature that makes this bank the number one choice for most students is the $200 interest free overdraft. This is enabled only when an account is opened by the student in the bank. This facility of interest free overdraft can be extended to $2000 too as per the set terms and guidelines. This gives a breathing space to the young investors, who need not worry about their crisis situation. The overdraft can be raised as high as $3000, at a preferential 8.9% EAR. This EAR is variable with different branches of Barclays, and depends on your location. There are other terms and conditions related to the overdraft facility, which you can know once you become a part of the Barclay bank student account.

Additional facility that you get at selected branches of the Barclays bank is the availability of the student relationship managers. These managers are professional and can prove to be of immense help in matters of finance and money. In case you have any confusion or doubt, you can always refer to them and have everything cleared up quickly. At Barclays, it is understood that the young customers are unaware of many banking procedures, as it is the first step taken by them in handling their own funds, directly. The managers try to work in the best of interest of their customers, and try to assist you any time. Along with the ATM and the debit card facility, you are entitled to a daily withdrawal of $300. This is a huge bonus as you can spend this much money on a regular basis. There are no interests charged on the withdrawals, which make this feature even more exciting. Also with an enormous network of ATMs across the nation, it helps in withdrawing cash at any part of the country.

Additionally, you get other regular banking features too. These include online banking, all time access to your account via internet or over mobile phone. These features helps you stay connected to your personal bank account 24/7. Barclays also gives you access to your personal reserve, about which you can know from the bank staff in detail. The travelling advantages added by the commission free usage in foreign currency is also exciting. You only need to have a student’s account at the Barclays to enjoy its full benefits.