Posts Tagged ‘student account review’

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.

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.