student bank accounts

>>1452847

just read the fucking fine print

you think there is literally any chance anyone ever would give you money for free?

>>1452882
try reading the post first

>>1452847

Students are stupid and run out of money (because we like to ignore our balances and get smashed everytime a society has a social out in town) so it's a nice safety net for when you go full retard and spend what you don't have.

I think when I got to 3rd year I had a £1500 0% overdraft (which I barely used).

Afterwards, you get pushed onto a graduate overdraft. It's 0% overdraft, but your overdraft limit shrinks each year. This is so you can work to pay off your overdraft debts over time without worrying about interest or fines.

>>1452910

Adding to this, if the bank gives you a student overdraft you might as well use it. Invest/save it or something

>>1452847
Overdrafts are good if you might need to make large payments or if you need to protect yourself against a delay in your student loans. One year when I was at uni there was a delay of about 2 months before some people got their student loan for that semester and an overdraft helped a lot of people.

Think of it as an emergency buffer. Some people might talk about putting it in a savings account but the return will be tiny.

>>1452847
You shouldn't be spending money you don't have, but this is just another layer of protection. Alternatively you could protect yourself similarly with a credit card instead.

Odds are you won't get any decent interest in a savings account. You won't find a whole lot over 1% unless you stow your money away in a CD.