You are here: Home / Support / Money / Budgeting / Opening a bank account

Opening a Bank Account

What services might you need?

  • Cash card - to access money from automated cash machines.
  • Debit card - no need to carry large amounts of cash or write cheques.
  • Cheque book and guarantee card - may be necessary to pay bills and useful if you are running low on cash as cheques take a few days to clear.
  • Combined card - a cheque guarantee, cash and debit card in one.

Think ahead




Save some time by opening a bank account before you come to University.

Open two accounts

Considering which type of account to open? It may be beneficial to have two accounts:

  • A current account- easily accessible
  • A savings account- allowing your money to gather interest.
  • If your current account runs low, you can transfer money from your savings account. Having two accounts will help you to budget and keep track of your finances.


Interest rates

  • Interest rates on overdraft facilities vary from one bank to another. Do your research beforehand.
  • Current Accounts generally offer smaller rates of interest on the amount in your account. Shop around for the best rates.
  • Savings Accounts pay higher rates of interest than current accounts but may not offer the same services. Some limit the number of occasions you can withdraw money within a certain period. This may be an advantage if you are tempted to spend money you haven't budgeted for!

Shop around

  • Make sure you select an account that offers the services you need.
  • Don't be taken in by a give-away - it's no good getting a free mobile phone if the account isn't suitable for you.
  • Most banks will offer a specific student account usually with an interest-free overdraft up to an agreed amount.
  • Banks often offer attractive accounts to graduates in an attempt to secure them as long-term customers.

Bank and Building Society websites

Find out about opening a bank/building account from:

Barclays Bank 
Co-Op Bank  
Halifax Building Society  
HSBC Bank  
Lloyds Bank
Royal Bank of Scotland
Yorkshire Bank



For Financial Support Enquiries:

Telephone: 01772 895000 / Email: