Student banking tips proffered

Mon, 11 Jun 2007

A banking expert has offered advice to students who are looking to get their banking arrangements in order before the start of the new academic year.

Brian Capon, head of media relations at the British Bankers' Association, has acknowledged that many first-year students may initially be tempted by the freebies offered by banking institutions such as free railcards and discounted club entry fees.

However, he has argued that it is important not to base the banking decision entirely upon these added incentives.

"There are freebies around and it may well be that they're certainly useful to you but you've got to look at the overall package - don't just concentrate on freebies," he said.

Instead, he proposed that prospective banking customers should prioritise "what you want your bank account for" and then make a selection based upon which financial services provider offers the most relevant financing products.

And he added that an added factor to be aware of was whether the preferred banking institution has a branch near to where the student will live.

This month, students across the country will be sitting their A-level exams.

If they pass these exams, they may then wish to consider getting their finances in shape before heading to university in the autumn.

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