Abbey launches new student accounts

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Abbey launches new student accounts

Mon 4th Aug 2008

Abbey has launched two new accounts for students, with one for foreign nationals studying in the UK.

The first of its new accounts offers an annually increasing overdraft of up to £2,000, £50 cash on opening and four per cent in-credit interest on balances up to £500.

International students can also open a new account for £5 a month.

This account offers six per cent interest on balances up to £500 and free foreign cheque presentation.

Steve Shore, director of Abbey Banking, said: "Key to successful financial planning at university is making sure your money, when you have it, is working for you and also that your debts are not costing you too much."

Price comparison website moneysupermarket.com said students looking for accounts should consider the interest-free overdraft, possible other charges, proximity of a branch and the freebies available.

It found that HSBC offers annual interest of six per cent for student accounts, with discounts at CD WOW and Dell.

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