Barclays launches 2010 student bank account

Barclays has unveiled its new and improved student package which includes an interest-free overdraft facility, allowing students to choose a limit that they need up to £2000, a free SMS service to help students keep on top of their finances, and a range of exclusive mobile phone, broadband and laptop incentives.

The package is designed to give students flexibility and control by allowing them to choose what they really need from their student account, and ultimately make it easier for them to adjust to university life.

Students opening a Student Additions bank account will be able to apply for an interest-free overdraft of up to £2,000 regardless of their year of study, for the duration of their time at university, and a further £1000 at a rate of 8.9%.

To help students manage their money and prevent them from going overdrawn, Barclays Student Additions provides a free SMS service - notifying students of pending debits and credits and alerting them when their account is about to go overdrawn. In addition, students will also have access to a dedicated student telephony team who will be able to answer queries and provide reassurance where required. They have a range of options available to them to operate their account: branches, telephone, online or through our leading mobile phone banking service.

Through a partnership with the high street retailer Phones 4u, students opening a Barclays Student Additions account will also be able to take advantage of exclusive offers and discounts as part of the student package. They will be able to choose from mobile phone, mobile broadband and laptop offers, which include savings of up to £90 off laptops, and over £120 on selected mobile phone packages.
 
Andrew Harris, Head of Current Accounts at Barclays, said "This year sees Barclays launch our best student package yet. This has been designed by students for students to ensure that we give them exactly what they want to help them through university life. We believe with the range of services and incentives available, this is one of the most flexible packages on offer to students this year.

"Our research has shown that the key things which are important to students are flexibility and control over their finances. That's why we have introduced free SMS text alerts, a dedicated student telephony team to support students through the life of their studies, and maintained our interest free overdraft. In addition, students told us that incentives which save them money on the things they need for university are important to them, so we have delivered the partnership with Phones4u offering them a range of exclusive mobile phone, broadband and laptop deals to suit them."

All students receive a VISA debit card with built-in contactless technology. The contactless technology allows the card to make transactions of £15 or less by holding it up to a special reader, without the need to enter a PIN or insert the card into a terminal. The cards will continue to work as normal for chip and PIN transactions, ATM withdrawals and other functions.

Students can also purchase Barclays Student Possessions Insurance which covers students during term-time for aspects such as accidental damage to PCs, TVs or sound systems, theft of personal possessions including library books and other items college-owned, possessions whilst in transit or temporarily removed from term-time address, fraudulent use of credit cards with a 24/7 claims line and new for old replacement.

For more information go to barclays.co.uk/students.