Find the perfect student bank account with MoneyHelper’s improved comparison tool

Choosing the right student bank account just got easier:

• MaPS improves its bank account comparison tool, with a filter specifically for students. 
• More than one million students will head to university this year and for many this will be the first time they manage their own money to pay for essentials. 
• “Understanding the features of your bank account is a great first step when it comes to managing money” says MaPS. 
• MoneyHelper has free and impartial guides and tools to help manage your money for the first time. 

One specific group who will benefit from the tool is students, as the tool includes a filter designed specifically to compare student bank accountsOpens in a new window. 

As A-Level results come out across England, Wales, and Northern Ireland next week on 15 August, more than 1.25 million* young people across the UK are set to become university students in the next month. 

As school-leavers receive their results and start to think more seriously about leaving home, university students will have to make a number of big financial decisions, including which bank account is best for them.  

For many, going to university and paying for things like rent, food, and bills will be the first time that young people manage large amounts of money on their own, and MaPS wants to help new students build confidence in managing money.

MaPS’ refreshed bank account comparison tool will support new students by allowing them to directly compare bank accounts and choose the best one for them, including looking at overdraft limits and varying fees for spending money abroad. 

The Money and Pensions Service provides free and impartial advice and is not incentivised to promote one account or company. Instead, MaPS’ simple comparison tool aims to create knowledge around different bank accounts and their features to allow users to make informed decisions about their best-choice account.

Knowing what you want from a bank account and choosing the right one for you is a great start when it comes to having control of your finances.   

MoneyHelper, by MaPS, also has plenty of budgeting guidance and tools that can support students in managing their money. Visit the Student and Graduate Money hub on MoneyHelper for free guidanceOpens in a new window.

Jackie Spencer, Head of Money and Pensions Policy at the Money and Pensions Service says:

“As young people are about to receive their A-Level results and venture into becoming students, many will be starting to think about managing their money for the first time.

"It’s great to have this tool refreshed and up to date as we know it’ll hugely help students tackle the first stage of their many student finance decisions: which bank account to choose.

"MoneyHelper has plenty of free guides and tools to help students manage their money for the first time. Visit MoneyHelper to find out more.”

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* Number taken from Higher Education Student StatisticsOpens in a new window (HESE). For the 2021/2022 academic year, there were 2,862,620 Higher Education Students in the UK. 1,288,160 of these were in the first year of their course. This number is rising year-on-year.