If you’re in search of a student present account, you’ll want to check your choices fastidiously to see which account finest matches your wants. Many student accounts include freebies or different incentives, but it surely’s necessary to not be too swayed by these – a sizeable interest-free overdraft is prone to be extra helpful.
Let’s check out what the RBS student account has to supply.
Who can open the RBS student account?
To apply for the RBS student present account you’ll must be:
- aged 17 or over (18 if you would like an overdraft)
- a UK citizen or have been residing within the UK for a minimum of three years
- a full-time undergraduate student on a minimum of a 2-year course at a UK college or school, or
- finishing a full-time postgraduate or nursing course lasting a yr or extra.
How to open an account
You can solely open the RBS student account on-line. You can apply in case your course has already began or whether it is beginning throughout the subsequent six months.
To open the account you’ll want:
- a UK passport or driving licence (full or provisional)
- proof of tackle resembling a driving licence, utility invoice or bank assertion
- your UCAS student code, a cell phone quantity and e-mail tackle.
What are the advantages of the RBS student account?
The RBS student account provides a variety of advantages, together with:
- An interest-free overdraft: with this account you’ll get an interest-free overdraft of as much as £2,000 (£500 within the first time period)
- Sign up incentives: if you happen to apply earlier than 5 November 2021, get £50 money paid into your account inside 10 working days of assembly the provide standards, and revel in a 4-year Tastecard providing you with 2 for 1 or 50% off your meals invoice at 1000’s of UK eating places, plus reductions on the cinema.
- Card safety: if you happen to misplace your bank card you’ll be able to briefly lock it after which unlock it once more when you’ve discovered it.
- Emergency money withdrawals: withdraw as much as £130 per day at RBS ATMs with out your card.
Is opening an account with RBS secure?
Yes, RBS is a completely licensed bank which suggests it’s regulated by the Financial Conduct Authority. Deposits are protected by the Financial Services Compensation Scheme (FSCS) which signifies that as much as £85,000 of your cash will likely be lined within the occasion the bank went bust.
Pros and cons of the RBS student present account
- Interest-free overdraft
- Sign up incentives
- Emergency money withdrawals if you happen to don’t have your card
- Other student accounts provide a bigger interest-free overdraft
- Not out there to worldwide students
- You’ll want to fulfill sure standards to qualify for join incentives
The RBS student account has rather a lot to supply and its join incentives will little question be engaging to many students. However, the account’s interest-free overdraft restrict of £2,000 (£500 within the first time period) is decrease in comparison with a few of its opponents, so it’s price buying round first to verify whether or not this account is unquestionably the best choice for you.