Bank account freebies for students on the fall

Over recent years banks have pulled out all the stops when it comes to enlisting students as customers, hoping that when these students leave university and get a lucrative, well paid job they will continue to bank with them. In order to entice students banks have offered all sorts of goodies as an incentive, from free cash to expensive gadgets and more.

However, a recent report has shown that with the financial problems that the UK’s banks are facing many are now offering nothing or very little to students by way of incentive, which will make it difficult for students to find a bank account that offers them something worthwhile.

Some accounts, for instance, are now offering a small fraction of car insurance, whereas previously some were offering iPods and the like. For the many students that do not drive or cannot afford a car this sort of incentive serves no purpose.

One official said that students are probably now better off looking for an account that offers an interest free overdraft facility than just some cheap freebie that will serve no real purpose. He said: ‘A few free cinema tickets might seem nice, but don’t forget you’ve got the rest of your student life in front of you.’