Halifax Student Bank Account 'offers best value'

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www.moneynews.co.uk > Banking > Halifax Student Bank Account 'offers best value'

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Halifax Student Bank Account 'offers best value'

The Halifax Student Bank Account offers better value than some other banking offers for studying customers, the bank has claimed, saying many accounts hide poor value behind empty gimmicks.

Because there are so many student deals available, young banking customers run the risk of losing more than £630 if they are blinded by offers of music players and other gadgets, the bank claims.

In fact, with the Halifax Student Bank Account they could save so much money, the bank argues, that they could easily pay for their own gadgets.

Halifax says the free gifts offered with many student bank accounts are not worth taking, because such accounts often have smaller interest-free overdrafts.

"The best advice is always to avoid getting in debt in the first place, but for most students that's just not possible," says Peter Jackson, managing director HBOS banking and savings.

"So the next best advice is to borrow money as cheaply as possible and that's why it's important not to be taken in by the lure of free gifts and to concentrate instead on the interest free overdraft limits which are on offer."

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