As a new academic year is on the horizon, there is no doubt that yet another cohort will be frantically attempting to research their finances in preparation for the demanding adult world. A lot of students will agree that the classroom does not always sufficiently prepare us for reality, especially when it comes to money. And of course, financial independence can be a long-awaited blessing. But it can be exceptionally daunting too. This is exactly why below, the benefits of a Nationwide Student Account have been outlined in order to make your transition to handling your own funds that little bit simpler!
1. Banking Accessibility
Nobody wants to have to pick up the phone and spend countless hours on hold every single time they need to confirm something with their bank. Likewise, nobody wants to have to travel miles to their local branch every single time they want an answer to a quick query. Nobody has time for that, right? Luckily, Nationwide allow for the use of their secure Online Banking system through their app or even through their Internet Bank, making balance checking and FAQs a walk in the park. Plus, they are renowned for their outstanding customer service too, dominating the Which? statistics as they received the most impressive score of a 77% satisfaction rate above all over student bank providers! Manage your money on your own terms and in your own time – definitely a favourable feature.
2. Member Incentives
While a lot of student bank accounts advocate their free incentives upon signing up, Nationwide takes more of a responsible approach than their counterparts. Despite a lack of promotion for alternate student offers, becoming a Nationwide member has a lot more to offer beyond their existing remarkable features. Instead of offering discounted railcards, subscriptions or memberships, Nationwide continues to prioritise their generous overdraft accompanied by a lack of fees and exceptional customer service along the way. Irrespective of the unfortunate absence of a freebie, there is no denying that long-term loyalty to Nationwide will put anybody in a privileged position as a result of their ‘mutual benefit’ approach, which helps their members prepare for their futures, in addition to supporting charities as a means of helping to educate and build a stronger society.
3. Arranged Overdraft
Learning how to support yourself independently for the first time is definitely not easy when budgeting for essentials but simultaneously craving a night-out. Sometimes, you might run out of money. In fact, it is almost inevitable considering the unpredictable turbulence of university life. But Nationwide have no desire to stigmatise that – they know everybody could use a little financial help from time to time when money gets tight. As long as you pay in £500 each term and prove your responsibility, Nationwide are happy to provide an overdraft of up to £1000 in your first year, with this value increasing as you progress with your studies. Pretty helpful, right? What’s more, there is a 0% interest rate with no unarranged overdraft fees for their members. Surely you’re not longing for the freebies as much now, are you?
4. Completely Fee-Free
After boasting their benevolent overdraft and accessible banking options, it is pretty surprising that Nationwide still have more to offer with their FlexStudent account. But with no monthly fees for maintaining the account or anything else for that matter, their lack of extra charges, which is even applicable to overseas, is for sure a valuable benefit. In addition to all of the funds you will be saving through their interest-free options, you will also have no need to worry about paying out for futile fees charged by alternate bank accounts. And the amazement surrounding this generosity is no secret, as Nationwide continue to assert their superiority over other student account providers by winning the MoneyFacts Consumer Award for Student Account Provider of the Year in both 2018 and 2019. Undeniably, this unanimity really promotes the rewarding nature of this account option!
5. Secure Graduate Account
All of the aforementioned benefits for students are incontestably incredible, right? But what happens once you leave university? We all know that a life of day-to-day adulting extends beyond the lecture hall. Thankfully, Nationwide know this too. Once you graduate, your FlexStudent account automatically becomes a FlexGraduate account that retains all of the best benefits for up to 3 years after finishing your course. Remaining completely free of fees both in the UK and overseas as well as continuing to allow for their considerate interest-free arranged overdraft whilst helping you to pay this back as time progresses – this route to securing your finances at university and post-graduation really stands out from any other student banking provider.
There really is no doubt that the benefits of a Nationwide Student Account are countless, helping you to embrace the excitement of independence yet retaining the all-important responsibility when enduring the reality of adulting for the first time. Wipe that expression of financial frustration off your face because if you currently hold a university offer and are concerned about your next monetary steps, there is absolutely no reason why you should not apply today to make sure you are ready to take full advantage of these infinite benefits!