Student Account in Bank of Scotland, UK

When you are a student it is always a great option to open a bank account in order to manage your finances wisely and keep track of the money. Choosing the right bank account that will work out best for you and prove beneficial is a hiccup that often students face. You can overcome this by going through the services offered by the bank beforehand which will give you an idea about whether that bank account will satisfy your needs. 

If you are thinking about a Bank of Scotland student account then this blog will help you greatly as it contains important details related to it. Keep on reading further to know more! 

Must Read: Bank of Scotland International Transfer

How to Open a Bank of Scotland Student Account? 

If an individual wish to apply for a Bank of Scotland student account then they can follow the steps mentioned below: 

• Go to the official website of the Bank of Scotland –  bankofscotland.co.uk/student
• After this, fill out the complete application form carefully and provide the necessary information followed by which the bank will inform the applicant about their arranged account and overdraft offer. 
• The applicant then needs to visit the nearest Bank of Scotland branch with the required documents. 

Converting the Existing Current Account to a Student Account 

The current account holders at the Bank of Scotland get the option of converting it to a student account. In order to do this an individual needs to follow the steps below: 

• Firstly, the account holder needs to log in to Internet banking and click on the link that directs them to change the account type. 
• While filling out the application, the applicant will be asked for their 4-digit UCAS code.
• The sort code and account number of the applicant will remain the same. 

Also Read: What Do You Need To Open A Bank Account? The Complete Guide!

Requirements to Open a Bank of Scotland Student Account

While opening a bank account there are certain things that the applicant is required to provide to the bank. Mentioned below are the things that the Bank of Scotland asks the applicant to provide in order to open a student account with them. 

• Identity proof – such as a valid passport or driving license.
• Address proof – such as bank statement (for branch only) or utility bill.
• Applicants’ 4-digit UCAS code which confirms the place at which they are taking the course (the student can find this UCAS code when they log into the UCAS portal). 

Eligibility Criteria 

Just like any other bank account, the applicant needs to fulfil certain prerequisites in order to open a Bank of Scotland student account. Mentioned below are the eligibility criteria for the same: 

• The applicant should be 17 yrs or above
• The applicant should be residing in the UK for at least 3 yrs.
• They should be enrolled in a full-time course for at least 2 yrs or in a one-year full-time access course which would further lead to a degree. 

Benefits of the Account 

In order to provide value to their customers, banks provide various benefits. Mentioned below is the list of benefits associated with the Bank of Scotland student account: 

• Save the Change – If the account holder uses the Bank of Scotland’s debit card, the bank automatically rounds up to the nearest pound in order to provide convenience to its customers and the remaining balance is adjusted from their savings account. 

• Everyday Offers – Bank of Scotland offers a lot of cashback on Internet banking, which the customers can avail of at various restaurants and shops. The only condition is that the account holder must be 18 yrs or above to use the Internet banking facility. 

• Interest-free arranged overdraft – In years of one to three student account holders at the Bank of Scotland get the option of applying for an interest-free arranged overdraft for an amount of upto GBP 1,500 and in years four to six they can apply for an amount of upto GBP 2,000. (To apply for it, the student needs to be 18 yrs or above and also this facility is subject to application, status and approval)

Also Read: What are the Benefits of a Student Bank Account? – A Complete Guide!

Managing the Account 

Banks provide different services to their customers in order to aid them in managing their accounts conveniently. Mentioned below are the options available to the account holders at the Bank of Scotland which help them keep track of their accounts and process transactions: 

• Internet Banking 
• Mobile Banking 
• Text Message Alerts 
• Telephone Banking 
• Cashpoint 
• Branch 
• Post Office 
• Switching to the Bank 

Some Other Services Offered by Bank of Scotland Student Account 

To satisfy the different needs of its customers, the Bank of Scotland provides various services to its customers. Mentioned below are some of those services: 

• Arranged Overdrafts – Under this facility student account holders at the Bank of Scotland can borrow money up to an agreed limit. 

• Contactless Payments – Students can make contactless payments through a card, smartwatch or mobile phone. 

•  Use Debit Card Abroad – Students can use the Visa Debit card provided by the Bank of Scotland abroad to make payments. 

• Sending money outside the UK or in an international currency – This service allows account holders to make international money transfers from the UK through mobile banking apps or Internet banking. It basically allows them to send money quickly, securely and quite easily. 

• Travel Money – Under this, the account holders can easily get transfer money if they are planning to go abroad. To avail of this, the student can order foreign money online or in a branch and get it delivered for free at their home or to the nearest branch. If after the trip they are left with the foreign money, the bank will also buy it back. 

Also Read: Best Student Bank Account to Open for Study Abroad

FAQs

This is everything you need to know about the Bank of Scotland Student Account! Worried about the financial hurdles you are facing for your study abroad dreams? Contact Fly Finance for better guidance and make your dreams come true!