Starting university is one of life’s biggest adventures—and at Spencer Properties, we know how important it is to have your finances in order before you even move into your new student accommodation. Choosing the right student bank account can save you money, reduce stress, and even earn you a few perks along the way.
So, to help you hit the ground running, we’ve rounded up the best student bank accounts in England for 2025—with pros, cons, and tips from our years of experience supporting students like you.
1. NatWest / RBS Student Account – Best All-Rounder
- Overdraft: Up to £3,250 interest-free by year 3.
- Freebies: £100 cash upfront + 4-year Tastecard (discounts on restaurants, cinema & more).
- Why we like it: One of the most generous overdrafts available. Great for students who want flexibility and a few free nights out!
2. Santander 123 Student Account – Best for Travel
- Overdraft: Guaranteed £1,500 at 0% interest.
- Perks: 4-year Railcard (worth £100+), saving you 1/3 on train travel.
- Why we like it: Ideal for students who travel home often, or just love weekend city breaks. That Railcard pays for itself quickly.
3. Nationwide FlexStudent – Best for Ethical Banking
- Overdraft: Up to £3,000 interest-free, built up over 3 years.
- Perks: Cash rewards and occasional partner offers (like Just Eat discounts).
- Why we like it: A solid ethical choice for students who want great service and a clear overdraft structure.
4. Lloyds & Halifax Student Accounts – Good for Simplicity
- Overdraft: Up to £1,500 interest-free.
- Perks: Up to £110 in cash. Halifax previously paid interest on balances, but this ends in June 2025.
- Why we like it: Straightforward, with a decent overdraft and welcome bonus—perfect for first-time bankers.
5. TSB Student Account – Best for Saving on the Side
- Overdraft: Up to £1,500 by year 3.
- Perks: 5% interest on balances up to £500, plus gym and travel discounts.
- Why we like it: If you’re good at budgeting and plan to keep some money aside, this is one of the few student accounts that rewards savers.
6. HSBC & Barclays International Accounts – Best for International Students
- HSBC: £100 cash bonus + travel perks; no overdraft.
- Barclays: Free international transfers; overdraft eligibility varies.
- Why we like it: Easy to open before arriving in the UK, with features that support international money transfers and settling in quickly.
7. Monzo, Starling, Atom – App-Only Banks
- Perks: Brilliant apps, real-time spending notifications, and budgeting tools.
- Drawbacks: No student-specific overdraft deals.
- Why we like it: Perfect as a secondary account for everyday spending and staying in control of your budget. Use alongside a high-street bank for the best of both worlds.
Spencer’s Top Picks by Student Type
|
Student Type |
Best Bank Account |
|
Travel often |
Santander (Railcard) |
|
Want a big overdraft |
NatWest / Nationwide |
|
Prefer ethical banking |
Nationwide |
|
Budget-conscious & saving |
TSB |
|
International student |
HSBC or Barclays |
|
Love apps and smart budgeting |
Monzo or Starling (secondary) |
What You’ll Need to Apply
- Photo ID (passport or driving licence)
- Proof of address (tenancy agreement or utility bill—we’ve got you covered there!)
- Proof of student status (UCAS confirmation or offer letter)
Most banks allow you to apply online before you start university, which means you can have everything set up before you even collect your keys from Spencer Properties.
Final Thoughts From Us
Bank accounts might not be the most exciting part of student life, but the right one can make a big difference. Whether you’re looking to save on travel, manage a budget, or just make your money stretch further, we’re here to help you make smart decisions, both financially and with your accommodation.
Already sorting your student home? Let us help with that too. At Spencer Properties, we specialise in high-quality, hassle-free student accommodation in Leeds and across the North. Get in touch today and we’ll help you settle in, banking and all.
Disclaimer:
This blog post is for informational purposes only and does not constitute financial advice. Spencer Properties is not authorised to provide financial services or guidance, and we do not accept responsibility for any decisions made based on the information provided above. Always do your own research and consider speaking to a qualified financial advisor or the banks directly before opening an account.
Need help choosing a student home?
Visit spencer-properties.co.uk or call us—we’re here to make moving easy
