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I have been a student on and off for the past 7 years and have done some research into all the student accounts on offer. Many of my student friends have accounts with a number of high street banks and have had nothing but grief. It seems many banks are all to keen to sign you up with extra incentives but thats where it stops. As soon as you have a few money worries, the fees get whacked on and you are treated like a second class citizen. For the student, it seems internet banking is definitely the way forward.No hassle, quick decisions and far less embarassing!!
SMILE Student Account-What makes it different from the rest?
24hr banking is a fantastic bonus. I have seen the cues at Student banks on campus and am quietly relieved that I can sort everything out over the net. Granted, you have to go into the Co-operative bank to make deposits but this is one area that the co-op excels in. No filling out and fumbling for missing pens and deposit slips. You take your cash card your cash and hand it over to the cashier. The cashier prints off a receipt-you sign...THATS IT!! Oh by the way if you dont have a local co-op bank you can make deposits at any post office as well.
Transfer cash,change your address and contact details, pay bills, cancel direct debits, ask for an overdraft increase..yes you can do it all online. It really is so simple and I like the fact that I have control. No time wasting cuing to see a customer services representative and then having to produce i.d and fill out copious amounts of forms
Is tiered and increases for each year of study.One of the best 1st year overdrafts at £1000. The Tiers currently stand as follows: year free overdraft limit 1 £1,000 2 £1,400 3 £1,800 4 £2,000
Rates Interest at 3.04% gross, this is a highly competitive current account.
25% EAR for going over your overdraft without notifying the bank and only a £5 charge. Smile are a very reasonable bank and give you some leeway if you notify them of problems in advance. I have nothing but praise for the empathy and customer service.
Opening an Account
Simple to open up you only have prove that you are a UK resident/citizen in full-time education for 6 + months and either deposit at least £300, or an LEA grant cheque, or a student loan (you'll need to provide proof that you have funding of £2,500 or more.)
Overall this is a fantastic student account, no fancy frills but good service and fair rates. Apply online at www.smile.co.uk