The HSBC has been looking at the different university cities to see which ones will cost the most to live in.
Totally expected was the most expensive city which is London, where the average rent for student accommodation exceeds GBP100 per week. It proved to be miles ahead of any other city in the country, with the next closest being Plymouth, with an average weekly rent of GBP63. A spokeswoman from HSBC reminded students that living costs can make a massive difference to managing as a student, and with rent such an integral part of student life it is important not to get in to an agreement that is too costly to manage.
Other cities in the list included Birmingham and Nottingham, where rents averaged GBP60, and Leeds, Manchester and Preston, with average rents of GBP50. To help manage finances the HSBC offers a student account with credit card and interest free overdraft.
The Halifax is weighing in to the student bank account market with an offer that includes a GBP3,000 interest free overdraft, reduced cost card insurance and discounted AA membership.
An important aspect of this offer from the Halifax is that the overdraft is valid for up to five years, giving students a full year after graduation to find employment and be in a position to pay off the borrowing. Account holders will also find that, should they be in credit on their account the Halifax will even pay them interest of two percent.
Management of the Halifax student account can be done through branch, phone or online, making it easy for students to access and manage their finances at any time.
According to a recent study on current account holders in the UK, it has been revealed that people who have switched to a new bank account have had problems.It was found that a large majority of bank account holders had difficulties when switching and that the bank also did not offer any help with the issue.This recent study backs up the main reason why many people do not switch current accounts for many years or perhaps years, as the process is seen to be too difficult or more trouble than its worth. The problem lies for consumers that by not switching bank accounts, consumers are then missing out on cheaper banking with another bank.See our current accounts comparison table for the latest offers. Plus, reading our guides and tips pages can offer consumers more detailed information and money saving hints.
