Bank Accounts

Many students will already have opened a bank account before coming to Bath. However, if you wish to change who you're banking with, we suggest you talk to a Student Business Officer at the bank you have chosen to switch to.

Almost a third of 18-21 year olds are students, and the average student is worth £20,000 in profit to a bank over the course of their life. Most people stay with the bank they were with as a student. Therefore all of the banks, including converted building societies, are extremely keen to attract student customers and generally they will, within reason, bend over backwards to keep you.

All the banks on campus have a very helpful and friendly Student Business Officer. Try to get to know who your Business Officer is, as they can arrange overdrafts and provided you keep them informed and warn them if you are going into the red or need your overdraft extended, they will generally be very willing to help.

All of the High Street banks offer large interest-free overdrafts, but you have to ask for one as they are not automatic. If you need to borrow more than the usual maximum amount, go and talk to your Student Business Officer. You will generally pay interest on anything you borrow over the free limit, but if you don't agree a new overdraft limit first you will find that none of your cards work and you're paying a higher rate of interest as well.

The basic message is keep a close check on how much is in your account and speak to your bank's Student Business Officer if there is any chance of a cash shortfall occurring. Most problems between students and their bank can be avoided as long as communication between the bank and the student is maintained. Don't be tempted to open accounts at more than one bank:, it soon becomes very complex juggling the small amounts of money available to keep banks satisfied.

In terms of choosing your bank, most students consider two things: a larger cash gift or a larger interest-free overdraft limit. Make sure you compare all of the banks and choose the one you think is best for you.