Hello everyone, I've been a lurker for a long time, but I feel now is the time to usurp this vast resource of knowledge and experience.....!

I'm starting a PhD in October, and feel now is the time to get my bank accounts sorted. I've had a look around the main high street banks, but couldn't find any accounts suited specifically for PhD students. Has anyone know of a bank I should check out, or if not, what do you use? Also, if there're any good ethical accounts you know of, please let me know!

Thanks a lot gang!

I don't think there is a specific postgrad student account and with some banks they refuse to acknowledge Phd students as students. Although I know that HSBC and Barclays recognise PhD students as students so you are eligible for what they offer there. I have an account with Barclays and always found them to be Ok. I'm not sure how ethical they are, but I have been with them since I was a kid so it helps to have a bit of bank loyalty when it comes to stretching the overdraft! I did see that the Royal Bank of Scotland offered a fairly attractive student account and they recognised Phd students too so they might be worth checking out. I find this site really useful for comparing banks/loans/credit cards etc http://www.fool.co.uk/ so take a look there 8-)

No, you don't really get PhD bank accounts. For ethical banking I'd recommend the Co-operative Bank, or Smile, which they also own, and is exclusively online.

I've got a student account with HSBC they were happy to put me back on student terms (after I'd worked for 4 years) though it did take them a while to umm and ahh about it before deciding it was ok. I don't know how ethical they are though.

Hello...

Also a lurker who has also found this forum helpful 'many many many' times and also due to start in October, I thought I would add some info on my own search for a bank account....

Like other posts, I have not found an exclusive post-grad account but in respect to the student accounts I have been lured in by the Halifax as they offer the largest interest free overdraft over the 3 - 4 year period I expect to study (£3000). Also the other student accounts appear to offer an overdraft on a sliding scale - i.e. £1000 in year one, £1250 in year two generally up to a max of £2000. Check out the comparison at http://www.halifax.co.uk/bankaccounts/studentcurrentaccount.asp

Whilst I don't think I quite need such an overdraft just yet I am working on the 'worst case' scenario and know it will be easier to get that account now rather than begging later when the PhD drags on longer than expected!

As a fellow newbie though I can't comment on the Halifax in terms of service - for ethical reputation I have to agree with the previous post that you will never beat the co-operative.

Welcome to the board lurkers - the water's lovely and warm!

I'll let the others talk about ethics, I'll talk about saving money.

If you have a stipend you shouldn't be needing overdraft facilities, so you'd be better going for bank whose current account pays the highest interest. There are a few around. I'm with the Halifax and get 6.something per cent on my current account so long as the balance never exceeds £2500 (the rate plummets if you exceed it) and that you pay in £1,000 per month. For those of you, like me, who get paid quarterly this condition might seem a problem, but it isn't. Set up a web saver a long with it (can be done online) and set up a direct debit to pay £1,000 into your web saver from your current account, then set up another DD for 24 hours later to transfer it back. The computer reads it as £1,000 per month deposit and you get the high interest. The additional savings account can then be used to store any amounts over the £2,500 ceiling. Dead easy. I earn about £160 a year in interest this way.

Failing that, have a look at some of the interesting golden hellos out there. Natwest were recently offering a £100 incentive which is more than you'll earn in interest in most current accounts in one year.

Have you tried Moneysavingexpert for this sort of thing? He has some really good advice on banks and lots of other things you can save money on. I get his weekly email.

www.moneysavingexpert.com