Lloyds student account review
Lloyds Bank offers a current account designed to help students through their studies.
![Lloyds Bank Lloyds Bank](https://www.finder.com/niche-builder/6329e7c9883bb.png)
Find out more about the perks of the Lloyds Bank Student Current Account, including its interest-free overdraft and the cashback programme with Lloyds’ retail partners.
Lloyds Bank has 1 current account available for students – the Lloyds Bank Student Current Account.
Below, you’ll discover the key perks and benefits of this account.
Product Name | Student |
---|---|
Card type | Cash / Debit |
Debit network | Visa |
Minimum opening balance | £1 |
Account fees | £0 |
Interest (AER) | 2% AER |
Funding requirement | No minimum funding requirement |
Daily cash machine limit | £500 |
At end of term | Account 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 transactions | 2.99% plus flat fee of £0.50 |
Overseas cash withdrawals | 2.99% conversion fee plus cash fee of £1.50 |
To be eligible for a Lloyds Bank Student Current Account, you’ll need to:
*You’ll need to be studying full-time on a course for at least 2 years, or on a 1-year course leading to a degree.
You can apply as soon as you receive an unconditional offer for your course.
You can apply to open an account online or in-branch. You’ll need the following documents:
Email support | |
---|---|
Telephone support | |
In-app or live chat | |
Contact form | |
Branch support |
No. This account comes with no regular funding requirements.
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.
You may still be charged overseas fees however. For example, some cash machine operators when abroad may apply a direct charge for withdrawals from their cash machines (this should be advised on screen at the time of withdrawal).
Compare options for keeping costs down when spending abroad.
You'll pay a currency conversion fee of 2.99% plus a cash fee of £1.50. For, example, if you take out the equivalent of £150, you'll be charged £4.49 plus the cash fee of £1.50. Withdraw 250 euros (that's around £210.12) at an ATM in Paris and it'll cost you £6.28 plus the cash fee of £1.50. Don't forget that the local cash machine provider may charge its own fee too.
Yes. While the opening interest-free overdraft limit is capped at £1,500, this increases to a maximum of £2,000 in year four (£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.
If you’re a keen shopper, the Lloyds Bank Student Current Account is likely to catch your eye, as you’ll get access to cashback with Lloyds’ various retail partners. The interest-free overdraft might not be quite as large as some other student accounts, but would still be very useful, especially given the staggered timescale in which to repay it after your studies end.
Learn more about GoHenry and Starling Kite and find out which is the better prepaid card option for your child.
Our fixed-rate ISA calculator estimates whether paying the get-out penalty on your ISA is worth it to open a new one at a better rate.
Recent estimates suggest that over 8 million people live alone in the UK, so we’ve crunched the numbers to find the cost of being single.
Monzo is getting in on the cards-for-kids action. And this one is free. Get ready to dish out the Monzos, mum-zos!
Before you switch accounts to Bank of Scotland, check to see if you can grab a juicy switch bonus.
Learn all about how to get the latest switching offer from Halifax.
Learn all about how to get the latest switching offer from Nationwide.
Find out the cost and car insurance group of a Volvo XC40, and see how much you could pay based on age, location and model.
Find out the cost and car insurance group of a Mini Cooper S and see how much you could pay based on age, location and model.
Find out the cost and car insurance group of a Smart car, and see how much you could pay based on age, location and model.