Barclays Student Account review 2021 | Finder UK

Barclays student accounts review

Barclays offers a current account designed to help students with their studies.

Barclays
Promoted
123 Student Current Account

Get a free 4-year railcard with the Santander 1|2|3 Student Account

  • A free 4-year Santander 16-25 Railcard to save 1/3 on rail travel in Great Britain
  • Up to £2,000 interest and fee-free arranged overdraft
  • 1% interest (AER) on balances up to £2,000
  • Earn cashback of up to 15% at a range of major retailers

Barclays has two current accounts available for students – the The Student Additions Account and the International Student Account.

Compare Barclays’ student bank accounts

Table: sorted by interest rate, promoted deals first
Data updated regularly
Name Product Account fees Interest (AER) Funding requirement 0% overdraft limit Perks Link Representative example
Barclays
£0
0% AER
No minimum funding requirement
Up to £1,000
What about the perks? Free 12-month subscription to Perlego the online library when opening a Student Additions account. Offer available between 20.9.20 and 30.6.21.
View details
Representative example: If you use an arranged overdraft of £1,200 you'll be charged interest at 0% EAR variable. Representative 0% APR variable.
loading

Compare up to 4 providers

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

Pros

  • There are plenty of money-saving features
  • The smartphone app doubles up as a useful budget planner.

Cons

  • 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

Table: sorted by interest rate, promoted deals first
Data updated regularly
Name Product Account fees Interest (AER) Funding requirement 0% overdraft limit Perks Link Representative example
Santander
£0
1% AER
Min. £500 per term
Up to £1,500
What about the perks? Free 16-25 Railcard for new customers. Valid for four years, with students saving up to one third on most rail fares.
Go to site
View details
Representative example: If you use an arranged overdraft of £1,200 you'll be charged interest at 0% EAR variable. Representative 0% APR variable.
Barclays
£0
0% AER
No minimum funding requirement
Up to £1,000
What about the perks? Free 12-month subscription to Perlego the online library when opening a Student Additions account. Offer available between 20.9.20 and 30.6.21.
View details
Representative example: If you use an arranged overdraft of £1,200 you'll be charged interest at 0% EAR variable. Representative 0% APR variable.
Student+ Account
AIB
£0
0% AER
No minimum funding requirement
Up to £1,850
What about the perks? Eligible for AIB Rewards in partnership with Visa. Receive cashback rewards when spending on your Visa card at selected retailers.
View details
Representative example: If you use an arranged overdraft of £1,200 you'll be charged interest at 0% EAR variable. Representative 0% APR variable.
The Co-operative Bank
£0
0% AER
No minimum funding requirement
Up to £1,400
View details
Representative example: If you use an arranged overdraft of £1,200 you'll be charged interest at 0% EAR variable. Representative 0% APR variable.
Lloyds Bank
£0
0% AER
No minimum funding requirement
Up to £500
What about the perks? Everyday Offers - Earn up to 15% cashback from selected retailers when shopping with a Lloyds Bank credit or debit card. Customers must be over 18, be registered for internet banking and activate the offer to be eligible.
View details
Representative example: If you use an arranged overdraft of £1,200 you'll be charged interest at 0% EAR variable. Representative 0% APR variable.
loading

Compare up to 4 providers

We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you.

More guides on Finder

Go to site