Pitfalls and perks: Student Bank Account warning

Students are being warned against falling for the supposed benefits of student bank accounts. Money experts are saying students should begin thinking about their student bank accounts now before they arrive at university in September to ensure they make the right monetary decisions.

Michelle Slade from Moneyfacts.co.uk says that short term perks like discounts and cinema tickets can often be a short lived perks which disguise a much higher overdraft interest rate than other accounts. Some of the freebies can include laptops and other gadgets which can seem very irristible to a new university fresher, but they are reminded a larger interest free overdraft is the best bet all round, especially with rising living costs.