Go paper-free
Amend paper-free preferences for your statements and correspondence.
Student Current Account
Make managing your money simple, so you can focus on student life
If you are an international student, you might want to take a look at our other accounts.
Find out if you can apply
You can apply if you:
- have a 4-digit UCAS code confirming your place for your course
- are aged 17 or over (to apply for an arranged overdraft, you have to be 18 or over)
- have lived at a permanent UK address for the past 3 years
- are studying on a full-time course that lasts for at least 2 years, or on a 1 year access course leading onto a full-time degree.
Are you an international student?
If you have not been a resident in the UK for at least 3 years, you will not be able to apply for a Student Current Account.
Instead, you might want to take a look at our other accounts.
Features you can use from day one
There may be times during your studies when you need extra financial support. A student arranged overdraft can help by giving you access to money when you need it most.
As with any overdraft, you’ll need to repay what you borrow. We’ll let you know if you go over your arranged limit through our overdraft alerts. You must be 18 or over to apply.
The amount available depends on how far along you are in your studies:
If you are given an arranged overdraft limit higher than the interest free amount, you will be charged interest on any borrowing over and above the interest free amount.
All overdrafts are subject to application and repayable on demand. You must be 18 or over to apply.
-
Arranged overdraft information
An arranged overdraft is a short-term borrowing option on your current account that allows you to borrow up to an agreed limit. It can act as a buffer, helping you manage unexpected costs.
There is no fee to set up an arranged overdraft and you’ll only pay daily arranged overdraft interest if you use more than your interest-free amount. If you use your arranged overdraft over your interest free amount but pay it back before the end of the day, then you won’t pay any arranged overdraft interest for that day.
- Applying – you can do this at the end of the Student Current Account application or any time after your application.
- Amending – you can reduce or remove your arranged overdraft whenever you like through the app, online banking, over the phone or in a branch. But you must repay anything you owe if you want to remove an arranged overdraft or anything over the new reduced limit you want. You can also apply to increase it. Using an arranged overdraft increases your overall borrowing and may affect your credit score.
- Cost calculator – use this to work out how much it will cost you to use an arranged overdraft.
- Keep in mind – if you don’t have enough money in your account or an arranged overdraft to make a payment, we may either let you borrow through an unarranged overdraft or refuse the payment. Missing payments and using an unarranged overdraft may damage your credit score, so get in touch if you find yourself in these circumstances.
All overdrafts are subject to application and repayable on demand. You must be 18 or over to apply.
If you are given an arranged overdraft limit higher than the interest free amount, you will be charged interest on any borrowing over and above the interest free amount.
Arranged overdraft limits and interest rates vary based on your individual circumstances.
Find out more detailed information on overdrafts such as interest rates, charges and managing your arranged overdraft limit.
If you already have a current account with us, you can apply for an arranged overdraft through online banking or mobile banking app. You can also apply to increase your existing arranged overdraft limit too.
-
How does our overdraft compare?
You can use the representative APR to compare with other products or credit providers, this can help you make sure that you chose the right type of borrowing for you.
Useful tools
Cost calculatorYou can use our calculator to work out how much your arranged overdraft borrowing could cost over different periods of time.
Eligibility toolYou can use our eligibility tool to find out if you are eligible for an arranged overdraft.
Take steps to secure your financial future
Invest Wise
Introducing Invest Wise, our free investment account for 18 to 25 year olds, the ideal companion for students aspiring to smash their financial goals. Enjoy an account with no admin fees and take advantage of free regular investing, through our regular investment plan so even more of your money can go into your investments.
Remember that the value of investments and the income from them can fall as well as rise, and you may get back less than you invest.
Planning for life after university
Frequently asked questions
-
When you are no longer eligible for the Student Account, for example you graduate from your course, we will convert your account to a Graduate Account, unless you make alternative arrangements with us.
If you are not eligible for a Graduate Account (for example you leave full-time study before graduating) we will convert your account to a Classic Account (or similar account if it is no longer available).
Arranged Overdraft
You can apply for a tiered interest-free arranged overdraft (subject to application and approval). Up to £2,000 in your first year after graduation, £1,500 in your second year and £1,000 in your third year.If you have an overdraft limit greater than the interest free amount, then you will be charged 29.9% EAR (variable) representative on any amount you use above this limit.
-
If you have a Bank of Scotland Student Account already, and continue straight onto a Masters Degree or PhD, you can extend your existing Student Account and hold it for a maximum of 6 years whilst you study.
If you don’t have a Bank of Scotland Student Account, and are starting a Masters Degree, then you can open a new Student Account if you are 17 or over, have been a resident in the UK for at least three years and are 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.
-
Find out how fraud can harm you and what you can do to stop it:
You might also like
Help with your current account
Discover how to get the most from your Bank of Scotland current account, including tools, tips and support.
Youth Accounts
Designed for young people aged 11 to 17 who are ready to start managing their money independently.
Thinking of switching?
Switching your account to us is quick and straightforward with the Current Account Switch Service.