LLOYDS BANK CURRENT ACCOUNT
Student Current Account
With our Student Current Account, managing your finances is sorted.
Why choose our Student Current Account?
Earn cashback with Everyday Offers
Get up to 15% cashback with Everyday Offers when using your VISA Debit Card at selected retailers. Merchant offers and cashback amounts vary. T&Cs apply.
Free TOTUM card
Open your account between 1 August and 31 October 2022 and enjoy a TOTUM card free for up to 3 years.
The TOTUM card is a great way to save on everyday shopping from food and drink to fashion, travel, tech, music, entertainment, days out, everyday essentials plus many more
Offers include
- 10% off at The Co-op
- Plus discounts from big brands such as Apple, ASOS, Samsung, UGG, The Body Shop, boohoo, Amazon Prime, Hello Fresh, LOOKFANTASTIC, Thorpe Park and many more.
Once you've opened your Student Account, TOTUM will send you an email and SMS with a unique promotional code and details on how to get the TOTUM card for free.
Who can apply for a student current account?
You can apply if:
- you're aged 17 or over
- You’re studying full-time on a course of at least two years’ duration, or a one-year full-time access course leading to a degree
- You've been a resident in the UK for at least three years
If you have not been a resident in the UK for at least three years, you may want to check out our Classic Account. Find out more about International StudentsInternational students.
When can you apply for a student current account?
- As soon as you have a place confirmed, you can apply.
- If you’re already a student, you can still apply for a student account.
About our Student Overdraft
What is a Student overdraft?
When you’re at university or college, sometimes you need the flexibility of extra money to help tide you over. Student overdrafts can be a short term safety net when you need to borrow some money. With our student account, you can apply for an interest-free tiered arranged overdraft of up to £1,500 in Years 1 – 3 and up to £2,000 in years 4 to 6.
Like all forms of overdrafts you’ll need to pay it back at some point, but don’t worry we’ll help you keep on top of your spending with mobile alerts to tell you when you’re over your limit. Plus when you graduate, we’ll still be by your side, converting your student account to a graduate account. With our graduate account you can apply for an interest-free tiered arranged overdraft offer for the first three years, helping you move into professional life.
Arranged overdraft information
- An arranged overdraft can act as a short term safety net. You can use it to borrow money up to an agreed limit through your bank account.
- Setting up an arranged overdraft is free and you’ll only pay daily arranged overdraft interest if you use more than your interest-free amount. - Applying for an arranged overdraft - When you have applied for this account, at the end of the application you can apply for an arranged overdraft which you can add right away. You can also apply for one later.
- Amending an arranged overdraft - You can reduce or remove your arranged overdraft at any time through Mobile Banking, Internet Banking or Telephone Banking or by visiting your 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.
- Helpful tools - You can use our cost calculator to calculate the cost of an arranged overdraft.
If you don't have enough money in your account or available arranged overdraft to make a payment, we may either let you borrow through an unarranged overdraft or refuse to make the payment. Missing payments and using an unarranged overdraft can damage your credit score, please get in touch with us as we may be able to help you.
All overdrafts are subject to application and repayable on demand. You must be 18 or over to apply.
What can you use an overdraft for?
Many students use overdrafts for:
- Deposit and rent for accommodation
- Course materials
- Travel
- Food
- Unexpected costs
"The arranged overdraft was especially useful for me when changing tenancies between years. Agencies and landlords would ask for a new deposit before my old deposit had been released, leaving me out of pocket for a bit. My arranged overdraft gave me some more financial flexibility.“
Daniel, a recent graduate from a Lloyds Bank Student Account.
Our interest-free arranged student overdraft
If you are 18 years old or more, you can apply for an arranged student overdraft where:
|
Year |
Interest-free arranged student overdraft |
|---|---|
YearYear 1 of study - first 6 months from accounts opening |
Interest-free arranged student overdraft£500 |
YearYear 1 of study - months 7 – 9 from account opening |
Interest-free arranged student overdraft£1,000 |
YearYear 1 of study - months 10 – 12 from account opening Years 2 and 3 of study |
Interest-free arranged student overdraft£1,500 |
YearYears 4 - 6 of study |
Interest-free arranged student overdraft£2,000 |
Arranged overdrafts are subject to application and approval and repayable on demand. You must be 18 or over to apply. Arranged overdraft limits and interest rates vary based on your individual circumstances.
You won’t pay anything when you stay within your interest-free arranged overdraft amount.
For more information about overdrafts, see Student Account welcome pack (PDF, 4.5MB).
If you already have a current account with us, you can apply for an arranged overdraft through Internet Banking or Mobile Banking. You can also apply to increase your existing arranged overdraft limit too.
How do you get a student overdraft?
Apply for a student account, and we’ll tell you what arranged overdraft we can give you during your application.
All overdrafts are subject to our assessment of your circumstances and are repayable on demand, including any fees.
How do I increase my overdraft?
You can apply to extend it online in a couple of minutes, and we will give you an instant online decision.
When you graduate, we’ll still be by your side.
Your Student Account will automatically convert to Graduate Account when you complete your university course.
The Graduate Account has an interest-free overdraft offer which gradually reduces each year, helping you transition into professional life. You can apply for an interest-free overdraft up to:
- £2,000 in your first year after graduating
- £1,500 in your second year
- £1,000 in your third year
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Choosing the right account for you
Once you’re living in the UK, you may be eligible for our Classic Account. This provides free everyday banking. Just stay in credit and you won’t have to pay monthly fees. Or see our full range of our Lloyds Bank current accounts.
Information for International students applying for a Classic Account
Free everyday banking
Stay in credit and you won’t have to pay monthly fees. Bank your way with Internet Banking, Telephone Banking, Mobile Banking, in-branch, and also get free Text Alerts.
Debit card
You can use your Visa debit card to shop online and in over 500,000 locations in the UK and 27 million worldwide.
Cash withdrawals
You can withdraw up to £500 a day from a Lloyds Bank Cashpoint or other cash machines.
No overdraft
International Students who have lived in the UK for less than 3 years are not eligible for an overdraft.
Ways to apply
Applying for an account online is the most convenient way to open an account. You can also apply in any Lloyds Bank branch with your proof of identification and address.
What documents can I bring?
If you have applied for a current account online, you can provide your proof of identification and address online.
If you apply for a current account in branch or continue the application in branch, then you will need to provide proof of identity and address at your nearest branch within 14 days to complete the application. All documents must be the most recent ones. We don’t accept expired documents or documents printed off the internet.
We need to see one of the following documents.
This document must show your full name. You can choose from the following:
- current United Kingdom, European Union or European Economic Area photo driving licence
- current UK / EU / EEA passport
- EU / EEA identity card
- all other current signed passports with a valid UK visa
- benefits or pensions notification letter confirming the right to benefit
- current UK non-photo driving licence
- blue disabled driver’s pass.
PLUS
We need to see one of the following documents.
This document must show your full name and current address. You can choose from the following:
- bank, credit card or building society statement showing transactions
- current UK driving licence (if it hasn’t been used as proof of your identity)
- utility bill
- local authority tax bill for current year
- benefits of pensions notification letter confirming the right to benefit (if it hasn’t been used as proof of your identity)
- original letter on headed paper issued by educational institution confirming place on a course (must confirm full name, UK and overseas address, start and end date of course)
We reserve the right to ask for additional documents. If you don’t have the documents listed above, we may be able to accept others so please speak to a member of staff if you have any questions about this or any of our services.
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Find out how fraud can harm you and what you can do to stop it:
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![Current Account Switch Guarantee]()
Switching with us
We can move your current account to a Lloyds Bank Student Account in just seven working days. Your standing orders and Direct Debits will be automatically transferred to your new account. All you have to do is let us know the date you want to be switched and provide details of the account you want to switch from.
Current accounts and services are offered subject to your status. They are available only to personal customers who are aged over 18 and are resident in the UK.
Current Account Switch Guarantee
![Current Account Switch Guarantee]()
We have designed the Current Account Switch Service to let you switch your current account from one bank or building society to another in a simple, reliable and stress-free way. It will only take seven working days. As your new current-account provider we offer the following guarantee.
The service is free to use and you can choose and agree your switch date with us.
We will take care of moving all your payments going out (for example, your Direct Debits and standing orders) and those coming in (for example, your salary).
If you have money in your old account, we will transfer it to your new account on your switch date.
We will arrange for payments accidentally made to your old account to be automatically redirected to your new account. We will also contact the sender and give them your new account details.
If there are any issues in making the switch, we will contact you before your switch date.
If anything goes wrong with the switch, as soon as we are told, we will refund any interest (paid or lost) and charges made on either your old or new current accounts as a result of this failure.
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From 1st November we are making changes to some of our terms and conditions and updating them to make them easier to understand. For more information, please read the Guide to Changes (PDF, 115KB).
- Personal banking terms and conditions & Banking charges guideopens in a new tab (pdf, 459.9 KB)
- Student account welcome packopens in a new tab (pdf, 4.0 MB)
- Fee Information Documentopens in a new tab (pdf, 173.0 KB)
- Graduate Account Fee Information Documentopens in a new tab (pdf, 179.8 KB)
- Student account overdraft feesopens in a new tab (web)
- Current account ratesopens in a new tab (web)
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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 of up to:
- £2,000 in your first year after graduating,
- £1,500 in your second year, and
- £1,000 in your third year.
Arranged overdrafts are subject to application and approval and repayable on demand. You must be 18 or over to apply. Arranged overdraft limits and interest rates vary based on your individual circumstances.
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What document can I bring if I do not have a UCAS code?
- For nursing and midwifery, a NMAS letter is accepted
- If you haven’t applied through UCAS, then an original university offer letter on university headed paper may be accepted. It needs to include:
- Student’s name and address
- Course name
- Course type and length
- Year of graduation
Can I change my current account to a Student Current Account?
If you’re an existing customer with a current account, you can change it into a student current account. You can do this through Internet Banking by logging on using the link above. You’ll need to have your 4-digit UCAS code to hand. Changing your account rather than opening a new student account will be quicker as we won’t need to ask for information we already hold. Once you have changed your account, your sort code and account number will stay the same and you’ll also keep your debit card.
Can I have a Student Current Account for a Masters Degree or PhD?
- If you have a Lloyds 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 Lloyds 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.
I am already a student, can I apply for a Student Current Account?
Yes, as long as you meet the standard criteria: 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.
What rewards do I get with a Student Current Account?
Free TOTUM Card
Open your account between the 1 August and 31 October 2022 and enjoy a TOTUM card free for up to three years, giving you access to over 350 UK discounts on the high street and online PLUS 150,000 discounts worldwide with a free International Student Identity Card (ISIC).
Find out more on the TOTUM card
Take advantage of up to 15% Cashback with Everyday Offers
Get up to 15% cashback at the type of places you regularly shop when you bank online and use your debit or credit card. Including: Merchant offers and cashback amounts vary. Registration for Everyday Offers is required. Activate offer for use on your next purchase. Available to Lloyds Bank UK personal current account customers (excluding basic account) with a debit and/or credit card aged 18+. Terms & conditions apply. More about Everyday Offers.
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- How do I get my free TOTUM card?
All you need to do is apply and open your Student Account by 31 October 2022. TOTUM will then send you a unique promotional code, which you’ll need to order your first free card. Your promotional code will be valid until 31 December 2022 and the sooner you order your free TOTUM card the sooner you’ll be able to start saving with discounts on the high street and online.
- How and when will I get my unique promotional code?
Your unique promotional code will be sent by email and SMS from TOTUM, so please ensure we have your up to date details. Codes will be sent out within 15 working days of opening your account. If you’re eligible for the offer and don’t receive your code after 28 days, please visit a branch and speak to a member of staff.
- How long will it take for me to receive my TOTUM card?
Once you’ve applied, TOTUM will send you your free card within 10 working days. You will be able to access your TOTUM card details immediately by downloading the TOTUM app and logging in. Your 2022/2023 TOTUM card will be valid for 12-months, regardless of when you apply for your card. You must order your free TOTUM card by 31 December 2022
- Where can I use my TOTUM card?
Partners include big names including 10% off every time you shop at the Co-op, and big brands such as Apple, ASOS, Samsung, UGG, The Body Shop, boohoo, Amazon Prime, Hello Fresh, LOOKFANTASTIC, Thorpe Park plus many more. Have a look at the fantastic range of discounts that you could enjoy at TOTUM.com To see where you can save money when you are on the go you can download the TOTUM App
TOTUM discount partners are subject to change. All details are correct as of 01/07/22
TOTUM membership Terms and Conditions (PDF, 514KB)
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You may wish to consider these accounts:
- Youth account: If you’re 11 – 17 you can apply for a youth account.
- Classic Account:International student may find this account suitable.
- Or compare all our accounts.
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Important legal information
Lloyds Bank plc. Registered office: 25 Gresham Street, London EC2V 7HN. Registered in England and Wales No. 2065. Lloyds Bank plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 119278.
Lloyds Bank adheres to The Standards of Lending Practice which are monitored and enforced by the LSB: www.lendingstandardsboard.org.uk.
The Student Current Account is only available to full-time students who are permanently resident in the UK. Applicants must be at least 17 years old and must be studying for a full-time course that lasts for a minimum of two years or be on a one-year access course leading on to a full-time degree.
Eligible deposits with us are protected by the Financial Services Compensation Scheme (FSCS). We are covered by the Financial Ombudsman Service (FOS).
We may monitor or record telephone calls to check out your instructions correctly and to help us improve the quality of our service. Calls from abroad are charged according to the telephone service provider’s published tariff. Not all Telephone Banking services are available 24 hours a day, 7 days a week. Please speak to an adviser for more information.
Account opening is subject to our assessment of your circumstances.
Overdrafts are repayable in full on demand.
