The best freebies for student bank accounts in 2023
One great thing about heading off to uni (other than finally moving out) is that you can get free cash (and no need to pay it back) or other freebies when you sign up for a new student bank account.
We’ve gone into detail about which current account is best, including which ones offer the biggest 0% overdrafts, but if you just want to check out the freebies, here are some of the best student bank welcome offers in 2023
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Best welcome offers
HSBC Student Account: £100 cash + £20 cashback
HSBC is giving away £100 in cash and a free one-year subscription to Headspace when you open an HSBC Student Account, plus you can get an extra £20 or £25 cashback if you sign up through a cashback site, detailed below.
How to get the HSBC £100 cashback
To get the £100 in cash you be (or going into) in your first year of university need to open or upgrade your account to a HSBC Student Bank Account and make at least 5 qualifying transactions using your HSBC debit card within 30 days of opening the account. We’ll explain later what a qualifying transaction is.
When will I get the £100?
You’ll get the £100 into your account within 30 days of meeting all the eligibility criteria, plus you’ll get your voucher for your 1-year Headspace subscription within 45 days and you’ll need to have redeemed it by 31 March 2024.
What is Headspace?
Headspace is a mindfulness app that has guided daily meditations. It’s designed to be used daily to help reduce stress. In general, Headspace is a great app and it’s a nice little perk, but with the annual plan costing £49.99 per year, remember that this is only a saving if you’d have bought it anyway.
Get up to £25 cashback on top
First-year students can get an extra £25 or £20 cashback when they sign up for an HSBC Student account through a cashback site, meaning you can get £120 or £125 in total.
The actual amount of cashback changes so it’s best to check each site to see which has the highest rate.
The same requirements apply, so you need to open the account after 3 July 2023 and make 5 debit card transactions within 30 days of your account opening.
You’ll need to click through to HSBC through the cashback site, then complete the application online – it won’t work if you call up or go into a branch. This will work if you upgrade your account too.
If you don’t already have TopCashback or Quidco, you can get up to £17 as a bonus as a new customer, though you won’t be able to stack it with the HSBC deal (you’ll need to buy something else first).
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NatWest or RBS Student Account: £100 cash
NatWest and RBS are both offering £100 in cash and a 4-year Tastecard for students that sign up for their student accounts this year.
How to get the £100
To get the £100, you need to sign up for a NatWest or RBS Student Account between 3 July 2023 and 30 November 2023.
You can’t get it if you’ve received a student offer from NatWest or RBS since 1 July 2020.
When will I get the £100?
As long as you’re eligible, you’ll get the £100 cash within 10 working days of meeting the above criteria.
Nationwide student account: £100 cash
Nationwide is offering £100 for first-year uni students that sign up for its student account this year.
How to get the £100
To get the £100, you need to sign up for a FlexStudent account after 1 August 2023 and pay in £500 by 15 December 2023.
You can’t get it if you had a FlexStudent or FlexGraduate on 31 July 2023 or if you opened a FlexStudent account last year and got the previous cashback offer.
When will I get the Nationwide £100?
As long as you’re eligible, you’ll get the £100 cash within 14 days of depositing £500 or more into the account.
Santander student account: Free 4-year railcard
Santander is giving away free 4-year 16-25 railcards to students that open a Santander 123 account.
How to get the Santander student railcard
To get the free railcard you need to open a Santander 1l2l3 account and register for online banking. You should then receive a code by secure message to your online banking account within 5 working days.
You’ll need to enter this code on the railcard website within 60 days of the email.
When will I get the Santander railcard?
You’ll get a code into your online baking within 5 working days of opening the account. If you choose a digital railcard, you can use it right away. If you choose a physical card, it’ll take around 5 days to arrive.
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Lloyds Student Account: Get £100 cash
Lloyds is offering £100 in cash for students that sign up for their student accounts this year.
How to get the £100
To get the £100, you need to sign up for a Lloyds Student Account between 1 August 2023 and 31 October 2023 and deposit at least £500 into your account by 31 October 2023.
You can’t get it if you already have a Lloyds Student Account.
When will I get the £100?
As long as you’re eligible, you’ll get the £100 cash by 30 November 2023.
Halifax Student Account: Get £100 cash
Halifax is offering £100 in cash for students that sign up for their student accounts this year.
How to get the £100
To get the £100, you need to sign up for a Halifax Student Account between 1 August 2023 and 31 October 2023 and deposit at least £500 into your account by 31 October 2023.
You can’t get it if you already have a Halifax Student Account.
When will I get the £100?
As long as you’re eligible, you’ll get the £100 cash by 30 November 2023.
Student bank prize draws
Santander: Sign up for Santander scholarships for a chance to win £500
Santander is running a prize draw for part-time or full-time university students, including current or incoming graduates and postgraduates. You don’t even need to bank with Santander, so anyone can get in on the draw.
If you win, you’ll get a Santander grant worth £500 – this can go towards your living expenses or can be used to purchase resources from the Santander Aspire Webstore, which has laptops, headphones and e-books.
Don’t start window shopping too soon – only 200 people will win, and with approximately 2.8 million students currently at university, you’ve potentially got a lot of competition. There’s certainly no harm in applying, though!
To get in the draw, you need to register on the Santander Scholarship Platform by 31 October 2023.