Student account perks and free cash revealed

Rachel Springall, Press Officer / Finance Expert 01603 476210 Email Rachel

Student account perks and free cash revealed

Student account packages have been revealed, including free cash. As time moves on towards the new academic year, the latest analysis by Moneyfactscompare.co.uk reveals a selection of noteworthy cost-saving perks.

Student account perks and free cash revealed

The most generous overdraft tariffs this year are with NatWest, HSBC and Nationwide Building Society.
HSBC now offers discounts and exclusive offers through HSBC Home & Away (compared to £100 in free cash plus a one-year subscription to Headspace last year).
NatWest once again offers £100 cashback upfront and a tastecard valid for four years (usual cost £39.99 after year one), as well as an attractive interest-free overdraft.
Nationwide Building Society is offering £100 in free cash as well as no charge for using its debit card abroad, plus will provide 12 months of Just Eat vouchers worth £120.
Santander renewed its Railcard offer (worth £30 for one year or £70 for three years). Customers can also enter a prize draw to help pay off their tuition fees.
TSB continues to offer a generous credit interest rate of 5% AER/4.89% gross, as well as a discount off breakdown cover, a discount on a Hussle Monthly+ gym pass and money off moving with AnyVan.
No new freebie from Barclays Bank revealed yet – in 2023 it offered free access to Perlego for 12 months.

The most generous overdraft tariffs this year are with NatWest, HSBC and Nationwide Building Society.
HSBC now offers discounts and exclusive offers through HSBC Home & Away (compared to £100 in free cash plus a one-year subscription to Headspace last year).
NatWest once again offers £100 cashback upfront and a tastecard valid for four years (usual cost £39.99 after year one), as well as an attractive interest-free overdraft.
Nationwide Building Society is offering £100 in free cash as well as no charge for using its debit card abroad, plus will provide 12 months of Just Eat vouchers worth £120.
Santander renewed its Railcard offer (worth £30 for one year or £70 for three years). Customers can also enter a prize draw to help pay off their tuition fees.
TSB continues to offer a generous credit interest rate of 5% AER/4.89% gross, as well as a discount off breakdown cover, a discount on a Hussle Monthly+ gym pass and money off moving with AnyVan.
No new freebie from Barclays Bank revealed yet – in 2023 it offered free access to Perlego for 12 months.

Rachel Springall, Finance Expert at Moneyfactscompare.co.uk, said:

“One of the most popular features of a student bank account is the interest-free overdraft. This year NatWest offers the most generous tariff and will also give applicants £100 in free cash and a tastecard as sweeteners. There are a few other brands now confirming their latest student account perks which could entice those looking to save some cash when travelling or eating out. It is worth keeping in mind that any discounts need to be used frequently to maximise the benefits. One of the most lucrative offers comes from Santander, with its Railcard, but not only this, it is now putting on a prize draw where 20 students could win a big sum of cash to pay off an equivalent of three years of tuition fees. In addition, customers can sign up for Santander Boosts to receive cashback, vouchers, offers and prize draws from selected retailers, so along with the interest-free overdraft of £1,500 in years one to three, the Edge Student Account could then be an attractive choice overall.

“Money management is a key life skill and for some students this will be the first time they have been away from home, which can be daunting. However, there are various ways for students to keep on top of their finances, such as with online or mobile banking and by using budgeting apps. It’s also worthwhile for them to look into other ways to save some cash, such as with student discount offers and cashback when they spend. A generous interest-free overdraft could be a lifeline for some students, but it is worth noting that this must be paid back when they finish their studies. If this is a worrying thought, then it’s essential students seek support to improve their mindset and financial situation.”

Rachel Springall, Finance Expert at Moneyfactscompare.co.uk, said:

Student account selection table
Provider and account	Interest-free overdraft	Incentives
Bank of Scotland – Student Account	0-6 months - £500 7-9 months - £1,000 10-36 months - £1,500 37-72 months - £2,000	Free to register for Everyday Offers. Earn up to 15% cashback from selected retailers.
Barclays Bank - Student Additions	0-3 months £500 4-12 months £1,000 Year 2+ - up to £1,500	Blue Rewards is available as an add-on for £5 per month.
Halifax - Student	Year 1+ - up to £1,500	Cashback Extras - Earn up to 15% cashback from selected retailers. Credit interest of 0.50% AER/gross.
HSBC - Student Bank Account	Year 1 - at least £1,000 Year 2 - up to £2,000 Year 3 - up to £3,000	Discounts and exclusive offers for dining experiences, leisure activities and shopping available through HSBC Home & Away.
Lloyds Bank - Student	0-6 months - £500 7-9 months - £1,000 10-36 months - £1,500 37-72 months - £2,000	Free to register for Everyday Offers. Earn up to 15% cashback from selected retailers.
Nationwide Building Society - FlexStudent	Year 1 - up to £1,000 Year 2 - up to £2,000 Year 3+ - up to £3,000	No charges for using debit card abroad. 12 months of Just Eat vouchers worth £120 and £100 cash payment available from 16.7.24.
NatWest - Student	Year 1 to 2 - up to £2,000 (1-4 months £500, 5 months+ £2,000) Year 3 to 5 - up to £3,250	Receive a tastecard, valid for 4 years giving 50% off food or 2 for 1 meals, plus offers on entertainment and shopping. Free 24/7 Emergency Cash Service.
Royal Bank of Scotland - Student	Year 1 to 2 - up to £2,000 (1-4 months £500, 5 months+ £2,000) Year 3 to 5 - up to £3,250	Receive a tastecard, valid for 4 years giving 50% off food or 2 for 1 meals, plus offers on entertainment and shopping. Free 24/7 Emergency Cash Service.
Santander – Edge Student Current Account	Year 1 to 3 - up to £1,500 Year 4 - up to £1,800 Year 5 - up to £2,000	Free 16-25 Railcard for new customers. Valid for four years, with students saving up to one third on most rail fares. Sign up for Santander Boosts to receive cashback, vouchers, offers and prize draws from selected retailers.
TSB - Student	Year 1 - up to £1,500 (0-6 months £500 7-9 months £1,000 and 10-12 months £1,500) Year 2 to 6 - up to £1,500	Credit interest of up to 5% AER (4.89% gross). 25% off breakdown cover with The AA. Save 35% on a Hussle Monthly+ gym pass. Save £15 on moving with AnyVan.
The list of student accounts is only a selection. All overdrafts are subject to the applicant’s status. Source: Moneyfactscompare.co.uk.

Student account selection table
Provider and account	Interest-free overdraft	Incentives
Bank of Scotland – Student Account	0-6 months - £500 7-9 months - £1,000 10-36 months - £1,500 37-72 months - £2,000	Free to register for Everyday Offers. Earn up to 15% cashback from selected retailers.
Barclays Bank - Student Additions	0-3 months £500 4-12 months £1,000 Year 2+ - up to £1,500	Blue Rewards is available as an add-on for £5 per month.
Halifax - Student	Year 1+ - up to £1,500	Cashback Extras - Earn up to 15% cashback from selected retailers. Credit interest of 0.50% AER/gross.
HSBC - Student Bank Account	Year 1 - at least £1,000 Year 2 - up to £2,000 Year 3 - up to £3,000	Discounts and exclusive offers for dining experiences, leisure activities and shopping available through HSBC Home & Away.
Lloyds Bank - Student	0-6 months - £500 7-9 months - £1,000 10-36 months - £1,500 37-72 months - £2,000	Free to register for Everyday Offers. Earn up to 15% cashback from selected retailers.
Nationwide Building Society - FlexStudent	Year 1 - up to £1,000 Year 2 - up to £2,000 Year 3+ - up to £3,000	No charges for using debit card abroad. 12 months of Just Eat vouchers worth £120 and £100 cash payment available from 16.7.24.
NatWest - Student	Year 1 to 2 - up to £2,000 (1-4 months £500, 5 months+ £2,000) Year 3 to 5 - up to £3,250	Receive a tastecard, valid for 4 years giving 50% off food or 2 for 1 meals, plus offers on entertainment and shopping. Free 24/7 Emergency Cash Service.
Royal Bank of Scotland - Student	Year 1 to 2 - up to £2,000 (1-4 months £500, 5 months+ £2,000) Year 3 to 5 - up to £3,250	Receive a tastecard, valid for 4 years giving 50% off food or 2 for 1 meals, plus offers on entertainment and shopping. Free 24/7 Emergency Cash Service.
Santander – Edge Student Current Account	Year 1 to 3 - up to £1,500 Year 4 - up to £1,800 Year 5 - up to £2,000	Free 16-25 Railcard for new customers. Valid for four years, with students saving up to one third on most rail fares. Sign up for Santander Boosts to receive cashback, vouchers, offers and prize draws from selected retailers.
TSB - Student	Year 1 - up to £1,500 (0-6 months £500 7-9 months £1,000 and 10-12 months £1,500) Year 2 to 6 - up to £1,500	Credit interest of up to 5% AER (4.89% gross). 25% off breakdown cover with The AA. Save 35% on a Hussle Monthly+ gym pass. Save £15 on moving with AnyVan.
The list of student accounts is only a selection. All overdrafts are subject to the applicant’s status. Source: Moneyfactscompare.co.uk.

Notes to editors

Pioneering financial comparison technology for over 35 years.

Moneyfacts Group plc is the UK’s leading provider of retail financial product data. Used by virtually every bank and building society in the UK, and supplied to the Bank of England, Financial Conduct Authority, Financial Ombudsman Service, HM Treasury, Prudential Regulatory Authority and UK Finance.

Our expert research team monitors the thousands of mortgages, savings, credit card, personal loan, business banking, life, pension and investment products in the UK.

Moneyfactscompare.co.uk is the financial product price comparison site, launched as Moneyfacts.co.uk in 2000 and rebranded to Moneyfactscompare.co.uk in 2023, which helps consumers compare thousands of financial products, including credit cards, savings, mortgages and many more. Unlike other comparison sites, Moneyfactscompare.co.uk shows whole of market data regardless of commercial bias, showing consumers a true picture of the best products based on the criteria they select.

We hope you find this press release insightful. We would appreciate a link back to Moneyfactscompare.co.uk if you decide to source this information.

For more information about us please see our key facts.

Broadcast

Our broadcast suite enables our finance experts to appear in-vision for television, and we regularly comment live on national and regional radio.

To arrange an interview for radio or television, please contact our press department. We have an in-house broadcast room.

Notes to editors

Pioneering financial comparison technology for over 35 years.

Our expert research team monitors the thousands of mortgages, savings, credit card, personal loan, business banking, life, pension and investment products in the UK.

We hope you find this press release insightful. We would appreciate a link back to Moneyfactscompare.co.uk if you decide to source this information.

For more information about us please see our key facts.

Broadcast

Our broadcast suite enables our finance experts to appear in-vision for television, and we regularly comment live on national and regional radio.

To arrange an interview for radio or television, please contact our press department. We have an in-house broadcast room.

If you're looking for extra comment, a chart or more information, then please give us a call. We are always more than happy to help.

Rachel Springall Press Officer / Finance Expert

01603 476210

Email Rachel

Caitlyn Eastell Apprentice Press & PR Assistant

01603 476169

Email Caitlyn

Student account perks and free cash revealed

Student account perks and free cash revealed

Student account perks and free cash revealed

Student account perks and free cash revealed

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