Graduates could switch for best student bank account, says Moneyfacts.co.uk

www.moneynews.co.uk > Banking > Graduates could switch for best student bank account, says Moneyfacts.co.uk

Graduates could switch for best student bank account, says Moneyfacts.co.uk

Thu 5th Aug 2010

Shopping around and finding the best-value student account could save new graduates considerable sums of money, an expert has advised.

Coming as tens of thousands of new graduates look to get their personal finances in shape before they enter the workforce, new market research carried out by Moneyfacts.co.uk has served to highlight the varying benefits of the many student bank accounts on offer.

Indeed, the website has noted that there are marked differences between the size of interest-free overdrafts offered by the main high-street banks to students and new graduates, as well as the level of fees levied for such services.

As such, the website's spokesperson Michelle Slade has urged students and university leavers to shop around for the best deal, and switch banks where necessary.

She noted: "Many graduates will inevitably remain loyal to their student account provider, but there is no reason why they can't switch to get a better deal."

At the same time, the website has advised students against borrowing money on their credit cards, largely as they have no regular income to pay off any debts they rack up.

Click here for more banking news 

Related News : Banking
	Young people 'should be taught to save'
	Families 'should plan for their children's future
	Switching bank accounts 'not as easy as banks portray'
	Brits facing finance difficulties 'should talk to their bank'
	Brits 'should utilise Isa allowances'
	Brits advised on investment options
	Children 'should be given bank accounts at 16'
	Falling inflation 'could help Brits save'
	Money worries 'are mounting for many'
	Contactless payment 'is secure and convenient'