University students often have more than one student bank account, research from Student-Finance.co.uk suggests.
Over 60% of students have two student bank accounts. 20% of students have three bank accounts. Only 15% of students have one student bank account, as the high street banks advise.
The survey was conducted on 3,204 university students throughout the UK within the last 3 months.
Males are most likely to own more than one student bank account. The primary reasons given by students for having more than one student bank accounts included the various tempting incentives offered, the need to pay extra fees, and the benefits of a combined overdraft.
Student finance experts have advised students to be cautious regarding their student finances. Multiple student bank accounts can soon spiral out of control. With student debt at an all time high, students are warned to be careful and selective when choosing student bank accounts.