Bank of Scotland student accounts review

Find out more about what you'd get with Bank of Scotland's student current account.

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Our review of Bank of Scotland’s student account looks at how you can apply, what kind of overdraft it offers, and the pros and cons of signing up.

Types of current accounts for students

Bank of Scotland has one current account available for students – the Bank of Scotland Student Current Account.

In the review below, you’ll learn about all the benefits and perks of this account.

Product NameStudent Account
Card typeCash / Debit
Debit networkVisa
Minimum opening balance£1
Account fees£0
Interest (AER)0% AER
Funding requirementNo minimum funding requirement
Daily cash machine limit£500
At end of termAccount transferred automatically to graduate account
Maximum overdraft in year 1£1,500
Maximum overdraft in year 2£1,500
Maximum overdraft in year 3£1,500
Maximum overdraft in year 4£2,000
Maximum overdraft in year 5£2,000
Overseas card transactions2.99% plus flat fee of £0.50
Overseas cash withdrawalsEurope: 2.99%
Elsewhere: 2.99% conversion fee plus £1.50 cash fee
Account offerEveryday Offers - Earn up to 15% cashback from selected retailers when shopping with a Bank of Scotland credit or debit card. Customers must be over 18, register for internet banking and activate the offer to be eligible.


To be eligible for a Bank of Scotland Student Current Account, you’ll need to be studying on a full-time degree course (or equivalent) that lasts at least two years, or a one-year course that leads to a full-time degree.

You’ll also need to:

  • be aged 17 or over (although to apply for an arranged overdraft, you’ll need to be aged 18 or over);
  • have been living in a permanent UK address for at least three years.

You can apply as soon as you receive an unconditional offer for your course.

How to open an account

You can apply to open a student account online or in-branch, and you’ll need the following documents:

  • proof of identity – such as a passport or driving licence;
  • proof of address – anything official with your name on it that’s less than three months old, but not a mobile phone bill;
  • your 4-digit UCAS code confirming your place on your course.

The benefits

  • Interest-free overdraft. Your interest-free overdraft will have a maximum limit of £1,500 for the first three years of your studies. If you’re studying for more than three years, you can apply for an increase to £2,000 in your fourth year and beyond.
  • Free TOTUM card. When you open a student account before 31 October 2022, you can get a TOTUM card for free for up to three years, giving you access to over 350 UK discounts on the high street and online.
  • Earn cashback with Bank of Scotland’s retail partners. With this account, you can earn up to 15% cashback when shopping at Bank of Scotland’s retail partners on the “Everyday Offers” programme. Simply activate the deal using your online banking or the Bank of Scotland app before you make a purchase using your debit card.

Pros and cons


  • Free 3-year TOTUM discount card when you open a student account.
  • Earn up to 15% cashback with Bank of Scotland’s retail partners.


  • This account isn’t available to international students.
  • There are other student accounts offering larger overdrafts.

Frequently asked questions

Do I have to get my student loan paid into this Bank of Scotland account?

No. This account comes with no regular funding requirements. See how that compares in our comparison of student accounts.

How much does it cost to use the Bank of Scotland student debit card overseas?

When you use your card overseas, you'll pay a non-sterling charge of 2.99% plus a flat fee of £0.50. For, example, if you spend the local equivalent of £250, you'll be charged £7.48 plus the flat fee of £0.50.

Because it's a Visa, you'll find it's accepted pretty much anywhere that takes card payments.

Compare options for keeping costs down when spending abroad.

How much does it cost to withdraw cash overseas using the Bank of Scotland student debit card?

Within Europe, you'll pay a currency conversion fee of 2.99% (so take out the equivalent of £150 and you'll be charged £4.49 currency conversion). Outside Europe, you'll pay a currency conversion fee of 2.99% plus a cash fee of £1.50 (so take out the equivalent of £150 and you'll be charged £4.49 currency conversion plus the cash fee of £1.50). Don't forget that the local cash machine provider may charge its own fee too.

Does Bank of Scotland's interest-free student overdraft limit increase over time?

Yes. While the opening interest-free overdraft limit is capped at £1,500, this increases to a maximum of £2,000 in year six (£1,500 in year three). Check out our full comparison of student accounts to see the interest-free overdrafts available to UK students with a breakdown of each account's limit in each year of your course.

Our verdict

Bank of Scotland offers a decent all-round student account. With it, you’ll receive cashback when shopping at Bank of Scotland’s retail partners on the “Everyday Offers” programme. Plus you’ll have access to handy saving features, such as Save the Change. The 0% interest overdraft may not be as large as those offered by some other student accounts, but it could still prove very useful for students.

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