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HSBC Student Bank Account

The current account that's built for student life
HSBC debit card

Stay on top of your money while you study

Our Student Bank Account makes it easy to manage your finances, and comes with an interest-free arranged overdraft offer1
Helping you to make the most of your newfound independence.
You'll need to be 18+ and have a confirmed place on a qualifying course at a UK university or college.

Open an account today

It's quick and easy to apply online.

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What you'll get

  • A £1,000 interest-free arranged overdraft
    We'll start you off with guaranteed interest-free limit of £1,000 in your first year, which could rise to £3,000 by year three. Your overdraft explained.
  • Easy online and mobile banking
    From checking your balance to paying your bills, you can do it all – quickly and easily – with our online banking or mobile app.
  • Guides to help you master your finances
    Show your money who's boss. If you're new to managing your own budget, our free expert guides will help you do it with confidence. Student guides.
  • Protection against theft and fraud
    Suspicious activity is picked up by our systems, helping to protect you against fraudsters. And if your card gets lost or stolen, block it in seconds in-app or online.

Overdraft representative example

0% EAR2 (variable), giving a representative rate of 0% APR3 (variable). Based on an assumed arranged limit of £1,200.

How does our overdraft compare? A good way to find out how we compare against other overdrafts or ways of borrowing is to look at the APR (annual percentage rate). An APR shows the cost of borrowing over a year. They're designed to help you compare one credit product (like a loan or an overdraft) against another more easily

Our app puts you in control

Stay informed with instant notifications

Get push notifications every time you make a purchase, a Direct Debit leaves your account or your student loan comes in. You'll also be able to spot any unexpected payments right away – giving you a bit more peace of mind.

Settle up in seconds

Need to split the bill? Send money quickly and easily to your friends via our app with PayM. There’s no need to enter any bank details – all you need is your mate's mobile number.

Get help whenever you need it

Something you want to ask about? Just whip out your phone to chat to us in-app. Whatever you need, we're always here. 24/7, 365 days a year.

Things you should know before applying

Arranged and unarranged overdrafts

An overdraft lets you borrow money through your current account. 

An arranged overdraft is where we agree an overdraft limit with you. This can help in months when you have extra expenses. An unarranged overdraft is when you make a payment that takes your account over your arranged limit or overdrawn when you don’t have an arranged overdraft in place

We’ll always consider an unarranged request and make the payment if we can. Unarranged overdrafts may result in declined transactions. We report account activity, including overdraft usage, to credit reference agencies. An unarranged overdraft lasting more than 30 days could have a negative impact on your credit rating.

Overdrafts are repayable on demand. They are not suitable for long-term borrowing and usually result in interest.

If you take an arranged overdraft, you can later ask us to increase, reduce or remove your limit at any time online, by phone or in a branch.

If you end your overdraft you’ll have to repay any overdrawn amount and any interest owed. If you want to reduce your limit, you’ll first need to make sure you bring your borrowing down within the new limit.

To find out more, visit our overdrafts page where you can find out if you’re eligible and use our overdraft cost calculator.

Overdraft charges during your course

We offer an interest-free arranged overdraft of £1,000 when you open this account.4 You can request an increase of up to £2,000 in year 2 and £3,000 in year 3, subject to status and how your account has been used.

Representative example: 0% EAR5 variable, giving a representative rate of 0% APR6 variable (assumed arranged overdraft £1,200).

Overdraft charges after you graduate

From 9th November 2020, we’re changing our Graduate Bank Account overdraft limits offering extended financial support following graduation. 

Once you complete your course, your account will change to an HSBC Graduate Bank Account. You may be eligible for an overdraft facility, of which £1,500 will be interest-free during your first year and £1,000 in your second year after graduation (subject to status and how your account has been used).

Any arranged overdraft above these amounts will be charged interest at 39.9% EAR variable.

Overdraft text alerts

If you’re going to go overdrawn, we provide a couple of tools to help make sure you know about it.

If you try to make a withdrawal at any HSBC cash machine that would take you over your arranged overdraft limit, you'll get an on-screen alert to let you know how much money you have available to withdraw.

We’ll send you overdraft text alerts if you’ve used or are due to use an arranged or unarranged overdraft on your account. This is to help you monitor your usage and let you know what action you can take to avoid interest.

If you don't provide your mobile number or let us know when you've changed it, we won't be able to send you these text alerts.

You can opt out of the arranged or unarranged texts at any time by phone, or by going into a branch.

Charges for using your debit card abroad

If you pay for something using your HSBC Visa debit card while you’re outside the UK, you’ll need to pay a ‘non-sterling transaction fee’ of 2.75%. So, for example, if you spent £100, you'd be charged a fee of £2.75.

If you withdraw money from an ATM, you’ll also need to pay a ‘cash fee’ of 2% (minimum £1.75, maximum £5) as well as the non-sterling transaction fee. So if you took out £100, you’d be charged a total of £4.75.

Any transactions you make will be converted into pound sterling (unless you choose to pay in local currency). To make sure your exchange rate is as competitive as possible, you’ll pay the exchange rate set by Visa.

More about using your card abroad

Opening your account is easy

You can apply for a Student Bank Account if you:

  • are 18 or over
  • live in the UK and have lived in the UK, Channel Islands or Isle of Man for at least 3 years
  • don’t have another student account elsewhere
  • have proof you've been accepted onto a qualifying course at a UK university or college
  • have read the important account documents above

First year student? Speed up your application by having your 16-digit UCAS status code handy.

International students already in the UK

If you are an international student and have already arrived in the UK, you can apply for a UK bank account online:

  • With this account, you won't have access to our credit facilities (eg overdrafts, loans or credit cards), some of our savings accounts, and you won't receive a cheque book.

Existing customers

 

Account all set up? Find out how to activate your card.

 

Going travelling? Your HSBC debit card makes the ideal companion.

 

Moved to a new place? Update your details easily online.

You might be interested in

 

Our Student Credit Card could help you cover unexpected expenses and build a good credit score.

 

Get help on everything from prepping for university to borrowing money as a student.

 

If your overdraft is calling you, make sure you know how it works first.

The small print

1. Overdraft offers are subject to application and an assessment of your financial circumstances. You must make regular credits into your account in order to keep any arranged overdraft limit we agree. Back to 'What you'll get'

2. EAR means effective annual rate. This is how all UK banks must show interest rates on their overdrafts, to make it easier for you to compare one bank’s overdraft with another. Please note that it doesn’t include any fees you might be charged in addition to interest. Back to 'Overdraft representative example'

3. APR (Annual Percentage Rate) is the rate at which someone who is borrowing money is charged, calculated over a period of twelve months. It takes into account not just the interest, but also any other charges that may have to be paid and any interest free amount". Back to 'Overdraft representative example'

4. Overdraft offers are subject to application and an assessment of your financial circumstances. You must make regular credits into your account in order to keep any arranged overdraft limit we agree. Back to 'Things you should know'

5. EAR means effective annual rate. This is how all UK banks must show interest rates on their overdrafts, to make it easier for you to compare one bank’s overdraft with another. Please note that it doesn’t include any fees you might be charged in addition to interest. Back to 'Things you should know'

6. APR (Annual Percentage Rate) is the rate at which someone who is borrowing money is charged, calculated over a period of twelve months. It takes into account not just the interest, but also any other charges that may have to be paid and any interest free amount". Back to 'Things you should know'

It’s easy to get in touch online. Talk to us directly through our chat channels.