Allied Irish Bank
AIB's Student Plus is a current account which includes free banking (even with an overdraft), a Banklink card for ATMs, interest paid on credit balances and an overdraft facility (typical variable APR, 12 per cent) while awaiting your grant cheque or allowance. If you open an account with them, AIB will also pay £5 towards your CAO/college registration fee in first year, provide a USIT card voucher worth £7, a Telecom phone card later in the year if you continue to use the account and free drafts for special payments or bills.
Bank of Ireland
BOI's Ascent account includes free banking, a cheque book with 12 cheques, PASS card and commission-free foreign currency. Interest on credit balances varies from 1.75 per cent to 2.25 per cent, in common with most major banks. Demand deposit rate is 0.37 per cent.
This year, BOI is also offering a free USIT card worth £7 and a free Travelsave stamp worth £8. Student customers whose accounts are still active after one month will receive a free Kodak fun camera.
Ulster Bank
Ulster Bank student Dual Account has traditionally offered an attractive package to student investors, this year being no exception. Full-time third-level students who open an account with a minimum of £20 or a grant cheque will receive a student pack including a £10 call card, a £5 rail voucher, a telephone and address book and a donor information card, in case anyone wants their liver when they're finished with it.
The main attraction for students is likely to be the interest-free overdraft of £300, which can be used for fees, living expenses or overheads. In essence, it's an interest-free loan. Ulster Bank also offers low-interest travel loans, commission free drafts and money orders, and no transaction charges.
National Irish Bank
NIB's Quartet account offers free banking, an ATM card acceptable in a number of British banks, and commission-free foreign currency and travellers cheques. It also has a competitive overdraft rate of nine per cent APR and a variable rate on personal loans: 11.6 per cent for amounts over £4,000, 10.4 per cent for amounts under £4,000.
