What bank charges will I have to pay?

What bank charges will I have to pay?

David Malcolm (Student Finance Policy Officer) gives expert video advice on: How should I choose a bank account?; Should I increase my overdraft if I need more money? and more...

When it comes to student bank accounts, banks will often put charges on accounts if you go over your agreed overdraft limit, or if you don't have an overdraft. If you go into negative funds they may also apply charges for things like bounced checks and so on. There's been a lot of discussion in the media about whether these bank charges are actually legal and whether they relate to the actual cost of the charges that the banks incur and having to apply these charges. If you've got a bank charge and you think it's too much you might want to look at some websites which have details of that sort of issue. But again, those charges will depend on the bank and their policies. So, there's something to check out when you take out an account, especially a student bank account or when you've got an account with them and want to find out what the bank charges are.