Banking & Credit
Banking
Most students will need a bank account to help them manage their finances whilst at university.
You'll need an account to:
- receive money from your:
- pay money out for goods and services such as:
Very often rent, fees and bills are paid by direct debit. This is an instruction from you to your bank which allows a particular person or organisation to take an agreed sum of money directly from your account every month.
For reasons of personal safety we do not recommend that you carry large sums of money on you or that you keep large sums of money in your home.
There are whole array of bank accounts available and it will depend upon your personal circumstances as to which accounts you are eligible to apply for.
Credit
There are lots of different ways to borrow money. Usually if you borrow money you will have to pay it back with interest added to it. Before borrowing money you should make sure you can make repayments on what you borrow.
To find out more about the different types of credit and the advantages/disadvantages take a look at the NUS and creditaction student guide to credit (PDF:4397KB).
