Bank of Scotland student account
The Bank of Scotland student account provides a lot of banking benefits that helps students a lot while they are still in a college or a university. This also allows them to focus on what matters most for them; studies. Being an award winning student bank account it has those extra facilities that help in the efficient and proper management of the young teenager’s money so that they always have that extra cash as and when they need. At the start of every new academic year, the youngsters gear up for the very important transition from school life to an all independent and full of freedom – college life.
The start of college life also means lots of crucial decision making like which universities to opt for, which courses to take, what kind of accommodation should be within budget etc. However the most important decision that a student has to make is to choose a bank that will fund him or her during important times. In the current competitive market there are lots of banks that try to attract these young minds by pampering them with gifts and flashy offers. Hence, the best thing to do is to look into the core features that the bank has to offer for the student bank accounts and determine which among bank’s student account fulfills the financial requirements as well as the practical necessities of the student best. The student can then opt for the one that meets all the requirements. Most banks are well aware that their customers tend to stick to those with whom they had first opened their bank account. No wonder then that most banks prefer young students to open an account in their bank.
One of the features that make the Bank of Scotland student account stand out is the interest free overdraft facility. Needless to mention, overdraft is very significant for a student. This is because majority of students’ entire college life is supported by the overdraft. There are many banks that offer interest free overdraft but the important thing to look for is the potential size of the overdraft. Most banks increase the limit of overdraft on year by year basis. For example, there is a certain overdraft limit for first year undergraduates, for second year students the limit is increased slightly and so on. But, Bank of Scotland gives its customers an interest free overdraft of limit up to 3000 bucks from day one.
In addition to this, the bank can also give overdraft after graduation for an extra year. The overdraft limit is extended depending on the personal circumstances of the students but on opening an account the student will immediately get a 500 bucks interest free overdraft. Another important feature that one should look for while opening a student bank account is to have the bank branch nearby. This is because students always have less time and lots of stuff to do and would not like to waste any time trekking to bank. Bank of Scotland has so many branches that reaching out to any branch is no big deal. Besides this, there is online banking facility and 24 hour telephone banking facility which makes managing money and staying up to date about ones finances very easy.
Students can keep track of their funds from anywhere and can also use them any time; thus making banking as easy as it can get. For the ease of the use of the money, special student debit cards are given to the customers. If students have extra money left at the end of each month, they can gain from the great savings facility and make use of the money in future as and when requirements come. Moreover, Bank of Scotland takes care of its bank customers by introducing various exclusive offers and deals from which customers can benefit greatly.
To help deal with the travel expenses of students during breaks or summer holidays, the bank also provides traveler’s cheques and foreign exchanges that are commission free. In addition, there are also numerous freebies and discounts that young bank customers can look forward to. There are some good discounts on games, pizzas and on purchase from some main retailers as well.