Barclays student accounts review
Barclays offers a current account designed to help students with their studies.
What's in this review?
- Compare Barclays' student bank accounts
- Additions Student Account eligibility
- How to open an Additions Student Account
- Additions Student Account benefits
- Additions Student Account pros and cons
- Frequently asked questions about the Additions Student Account
- Additions Student Account: The verdict
- Compare Barclays against its competitors
Barclays has two current accounts available for students – the The Student Additions Account and the International Student Account.
Compare Barclays’ student bank accounts
Additions Student Account eligibility
To be eligible for a Barclays student current account, you’ll need to be studying full-time in the UK on an undergraduate course (for 2+ years), a postgraduate course (for 1+ year) or as a higher apprentice (Level 4+).
You’ll also need to:
- be aged 18 or over;
- be studying full-time in the UK;
- use the account as your primary bank account.
How to open an Additions Student Account
Barclays is launching a new digital application service for this account in September 2020, in time for the new academic year.
Currently, you can register your interest in a Student Additions account via the Barclays website. To do so, you’ll first be asked a few multiple-choice questions to check your eligibility for an account.
If you’re eligible, you’ll need to enter your name, email address and the town/university you’ll be studying in.
Once you do that, you’ll need to wait for Barclays to email you with more details of how to complete your application, closer to the account’s launch date.
Additions Student Account benefits
- Large interest-free overdraft. The Barclays Student Additions account gifts you a £500 interest-free overdraft when you open the account. After the first term, this increases to £1,000. It increases again to £2,000 in your second year and £3,000 in your final year.
- A free 12-month subscription to Perlego. This is a subscription-based service, giving students online access to thousands of academic e-books. Perlego saves students from having to buy each text book individually. You’ll get an annual subscription (worth £96 per year) for free with your Barclays Student Additions account.
- Cashback with retailers. Student Addition account-holders can earn cashback when shopping online with Barclays’ retail partners. Just navigate to these retailers’ websites via the Barclays online banking website or mobile app. You’ll then have a percentage of your purchase paid back into your student account as cashback.
- Track your spending with Barclays app. The Barclays mobile app has sophisticated software allowing you to track your spending, categorise it, set limits or even temporarily freeze your debit card. Great for students who haven’t mastered the art of budgeting.
- Design your own debit card. Stand out as an individual with Barclays’ debit card design service.
Additions Student Account pros and cons
- There are plenty of money-saving features
- The smartphone app doubles up as a useful budget planner.
- It’s not available yet. Currently, you can only register your interest.
- There are plenty of students accounts with bigger overdrafts for first-year students.
Frequently asked questions about the Additions Student Account
Do I have to get my student loan paid into this Barclays 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 Barclays student debit card overseas?
When you use your card overseas, you'll pay a non-sterling charge of 2.99%. For, example, if you spend the local equivalent of £250, you'll be charged £7.48.
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 Barclays student debit card?
You'll pay a currency conversion fee of 2.99%. For, example, if you take out the equivalent of £150, you'll be charged £4.49. Withdraw 250 euros (that's around £215.76) at an ATM in Paris and it'll cost you £6.45. Don't forget that the local cash machine provider may charge its own fee too.
Does Barclays's interest-free student overdraft limit increase over time?
Yes. While the opening interest-free overdraft limit is capped at £1,000, this increases to a maximum of £3,000 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.
Additions Student Account: The verdict
Although this student account doesn’t have the most enticing interest-free overdraft (at least initially), there are plenty of bells and whistles that might entice students into registering their interest in this account.
Compare Barclays against its competitors
More guides on Finder
Current accounts with cashback
Learn how current accounts with cashback work, whether they’re right for you and how to find the best current account.
Compare current accounts with rewards
Discover how current accounts with rewards work, and how to choose the best one for you.
Loans for small businesses affected by coronavirus
Learn about government support and alternative options for businesses needing finance to help deal with the impact of coronavirus.
Paying tax on interest from a savings account
If you earn interest from a savings account, you need to pay tax on that interest at the same rate as the rest of your annual taxable income.
Mortgages for students: Buy-for-uni
Discover how you can use buy-for-university mortgages to buy property as a student.
Allstar Plus ‘All-in-one’ Business Credit and Fuel Card review 2021
The Allstar Plus credit card is a combined business and fuel card that promises to reduce your business admin and improve cash flow.
Compare joint business bank accounts
Discover how a joint business bank account works and why you might want to open one.
Compare free basic bank accounts (Fee-free)
Discover what a basic bank account is and how they compare to other types of bank accounts.
Tide vs Monzo business: Which is the best business account?
Discover the key differences between the Tide and Monzo business bank accounts and which might suit you better.
Tide vs Revolut business: Which is the best business account?
Learn more about the key differences between the Tide and Revolut business bank accounts and which is likely to suit you better.