Halifax student account review
Get an interest-free overdraft with a personalised limit (set by Halifax) up to a maximum of £1,500 in year one.
Finder rating: ★★★★★
Read our review to find out about the overdraft and perks of the Halifax student current account, as well as who is eligible and what you need to do to apply.
Rates, fees and limits
Halifax has one current account available for students – the Halifax Student Current Account.
Below, you’ll learn the benefits and incentives associated with this account.
|Card type||Cash / Debit|
|Min. opening balance||£1|
|Interest (AER)||0.1% AER|
|Funding requirement||No minimum funding requirement|
|Daily cash machine limit||£500|
|At end of term||Account transferred automatically to Current 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||£1,500|
|Maximum overdraft in year 5||£1,500|
|Overseas card transactions||2.99% plus flat fee of £0.50|
|Overseas cash withdrawals||Europe: 2.99%|
Elsewhere: 2.99% conversion fee plus £1.50 cash fee
|Key benefits||Cashback Extras - Earn up to 15% cashback from selected retailers when shopping with a Halifax credit or debit card. Customers must be over 18, be registered for internet banking and activate the offer to be eligible.|
You’ll be eligible for a Halifax Student Current Account if you’re on a degree course or in equivalent full time education. You must be aged 18 or over to apply.
How to open an account
You can start your application online, but once complete you will then need to visit a branch with the following documents:
- Interest-free overdraft. Your interest-free overdraft will have a maximum limit of £1,500 for the length of your course and one year after you graduate, up to a maximum of six years.
- Interest on in-credit balances. You’ll earn 0.1% AER on unlimited in-credit balances.
- Earn cashback with Halifax’s retail partners. Simply activate the deal on Halifax’s “Cashback Extras” tab within its online banking platform.
Pros and cons
- You’ll get access to cashback with some retailers.
- You can earn interest on in-credit balances.
- No freebies offered with this account.
- You’ll have to visit a branch to open the account.
Frequently asked questions
Do I have to get my student loan paid into this Halifax 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 Halifax 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 Halifax 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 Halifax's interest-free student overdraft limit increase over time?
No. If you're looking for an account which can offer an increasing overdraft limit as your course progresses, see our full comparison of student accounts.
This is a basic student current account. It offers a reasonable sized 0% interest overdraft and some cashback with its retail partners, but there are student accounts from other banks that offer better perks or larger overdrafts.