Starting at college or university requires a lot of preparation. With the TSB Student Bank Account we want to take the hassle out of handling your finances. With a 10 minute application and an interest free overdraft (subject to application, approval and repayable on demand) you can be safe in the knowledge that your bank won't be holding you back.
Receive 5% AER/4.89% gross variable interest on balances up to £500. * Read our savvy guide for tips on budgeting and saving money whilst studying.
Why choose the Student Bank Account?
* Receive 5% AER /4.89% gross variable interest on balances up to £500, paid by the 10th working day of each month
Optional interest-free overdraft up to £1,500 to help you budget during your studies. Your overdraft starts at £500 for the first six months, then you can apply to increase it to £1,000 in months seven to nine, and up to £1,500 from month ten. Subject to application, approval and repayable on demand.
Quick and easy application to take the hassle out of banking
To help spread the cost of large outgoings, such as new books, you can apply for a
Student Credit Card
The Student account is covered by the TSB Fraud Refund Guarantee (Conditions apply).
Apple Pay and Google Pay are available with this account.
** Overdrafts are available subject to status and lending criteria and are repayable on demand.
To have a Student Account you must be 17 or over (18+ including overdraft), have been a resident in the UK for at least three years and be studying for a full time course that lasts for a minimum of two years or be on a one year access course leading onto a full time degree.
If you haven't been living in the UK for at least 3 years, for example if you are an International Student, see our other
Rates and charges
It's important that you understand how your account works.
You can find all the documents relevant to this account in the Important Documents section. Rates and charges can be found within the Banking Charges Guide.
Your TSB Visa debit card is an amazing piece of plastic. Accepted in millions of places and cash machines worldwide, it's incredibly convenient. It's just as safe to use abroad as at home, so it's a simple alternative to carrying cash.
In your first year of studies you can apply for an interest free Arranged Overdraft up to £1,500 (subject to application and approval). Starting with £500 for the first six months. You can then apply to increase it to £1,000 in months seven to nine and from month ten up to £1,500 – helping you to manage your spending over your first year.
Our Grace Period means that you have until 10pm (UK time) to pay enough money into your account to avoid any Overdraft interest that we may charge that day. The money needs to be immediately available to use, so you could transfer money from another account you have with us by Mobile Banking, Internet Banking, Telephone Banking, paying in cash over the counter in branch or transferring the funds from another provider.
Our Retry Periods mean that if you don’t have enough money in your account to allow us to pay Direct Debits, cheques, standing orders and future dated payments, we’ll give you extra time to put money into your account to allow us to make these payments.
For Direct Debits and cheques, we’ll try to take the payment:
Shortly after midnight on the due date or next working day
Again after 2.30pm that same day
For standing orders and future dated payments, we’ll also try a third time shortly after midnight the net working day after we first tried to make the payment.
The money needs to be immediately available to use, so you could transfer money from another account you have with us by Mobile Banking, Internet Banking, Telephone Banking or by paying in cash over the counter in a branch. If you do deposit enough money into your account to meet the payment that you wish to make, the payment will be made and you won’t incur a Returned Item Fee.
If you don’t have enough money in your account to pay a standing order three times in a row, we’ll cancel it. For example, if you have a monthly standing order and don’t have enough money to pay it three months in a row, we’ll cancel it after this happens.
To help you balance your finances you can apply for a TSB Student Credit Card with a minimum limit of £500 Representative 19.9% APR variable (subject to status and being 18 years or over). You'll get up to 56 days interest free on purchases if you pay off the balance in full every month by the payment date shown on your statement.
You’ll need to have had a TSB Student account for at least three months and have a regular income before you can apply for a TSB Student Credit Card
On 14 April we launched our Fraud Refund Guarantee. This is a first in UK banking. And it goes further to cover TSB customers against fraud than anything that has come before it. Put simply, it means that if you’re clearly an innocent victim of fraud on your TSB account, we will refund the money you lost from your account.
Valid from 14/04/2019. No refund if customers are involved in committing the fraud or repeatedly ignore account safety advice. Guarantee limited to £1 million per claim for authorised transactions. Conditions apply.
There may be lots of different reasons you might need to bank with us differently, either in the short term, or on a continuing basis. It could be because of your physical or mental wellbeing, or because of a life event you’ve experienced. Whatever the reason, we are committed to tailoring our support to your personal needs.
If you choose to tell us about your individual support needs, we will take the time to understand your circumstances and work with you to make sure you have the support you need when banking with TSB. We can add a Support Indicator to your account, which means whenever you talk to us, we'll be aware that you may need tailored support.
Account Opening is subject to our assessment of your circumstances. You must be 17 or over and a UK resident to apply. Interest paid monthly.
Overdrafts are subject to application and approval and are repayable on demand.
*AER stands for Annual Equivalent Rate and tells you what the interest rate would be if it was paid as only one payment, once each year. Gross rate is the agreed rate of interest payable to you before the income tax is deducted at the rate specified by the law.
Text alerts are free but your mobile operator may charge for some services. Please check with them.
We don’t charge for your use of Mobile Banking but your mobile operator may charge for some services, please check with them. Mobile Banking is available on most internet enabled mobile devices. Services may be affected by phone signal and functionality. You must be registered for Internet Banking. Terms and conditions apply.
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