How long can you have a student account Halifax?
These benefits include¹⁺³: Up to £1500 fee-free overdraft facility for a maximum of six years (the length of your course plus one year after you graduate) The ability to make cash withdrawals. A monthly interest payment of 0.10 percent AER on any credit balance.
What are the disadvantages of a student current account?
What are the disadvantages of student bank accounts? What’s good for one person might not be right for the next. Student bank accounts often pay less interest than regular accounts – not great if you have a sum of money and are hoping to gain interest on it.
What are the features of a student current account?
A student current account is a type of bank account designed for students in higher education. They’re fairly similar to standard current accounts but can come with extra features like interest-free overdrafts and perks, such as railcards and discount vouchers.
Can a student get a current account?
5. Most accounts only let first-years open them, but a few let you switch later on. Most banks only let first-year students apply for their current accounts, and some even put a time limit on when you can do that. But a few banks do let you switch existing student accounts during your studies.
What is a student current account?
There is nothing complicated about a student bank account. It is simply a current account designed to be used by people enrolled in higher education. You can pay money in or have any income you get paid into it, and then use the account to pay your bills or withdraw funds.
Why should a student open a student current account?
Managing money Before you go to uni, it’s a good idea to get a student bank account. These are simply bank accounts made for those in higher education. They let you pay money in and out, and offer additional benefits such as an interest-free overdraft.
What’s the difference between a current account and a student account?
The main difference between current and student accounts is the overdraft facility. This means that you don’t have to pay interest on anything within the authorised overdraft limit while you’re a student. But remember, this isn’t free money. After you graduate, you still have to repay everything you have borrowed.
What are the benefits of a student account?
The main benefits of a student bank account are the interest-free overdraft options that many of them come with. While you study, your overdraft will be interest-free up to an agreed limit, which in some cases increases incrementally for every year of study.
What is the difference between current account and student account?
Is it worth getting a student current account?
Is it worth getting a student bank account? Yes, if you’re a student and looking to open a new bank account, they can be a good option. Student bank accounts offer perks that often are unmatched by other types of current accounts. This is because banks know your worth — most people rarely switch their current account.
Is there a current account for Halifax students?
Read this review to find out about the overdraft, perks and eligibility of Halifax’s student current account. Halifax has one current account available for students – the Halifax Student Current Account. Below, you’ll learn the benefits and incentives associated with this account.
What can I use my Halifax debit card for?
It’s packed with features to save you time. You can use Apple Pay or Google Pay with your Halifax debit card to make mobile payments. An arranged overdraft can act as a short term safety net. You can use it to borrow money up to an agreed limit through your bank account.
How old do you have to be to get an overdraft with Halifax?
If you already have a current account with us and would like an arranged overdraft, you can apply for one through Online Banking or Mobile Banking. You can also apply to increase your existing arranged overdraft too. To apply for this account you’ll need to be aged 18 or over and on a degree course or equivalent full time education.
Is there a reward account with Halifax Bank?
Halifax has two different reward accounts: one that comes for free and even offers you a coffee every month (that is, it earns you £2) if you meet the requirements and one that is packed with benefits and perks in return for a monthly fee.