Question

Discuss how the students saving accounts work

Answer 1

Student's saving accounts:

Student accounts are the type of bank accounts available for those students in higher education. Being a student we can apply for normal current accounts in the same way we can also get customized bank accounts.

This classification includes all the student bank accounts in the UK that are available only if we are in full time higher education, and they include the following benefits namely,

• An interest-free overdraft that enables to borrow money without any interest

• Free coupons for opening the account like Railcard, gift vouchers or shopping discounts

• Interest received for the money saved in the respective bank account

• When we pay bills or spend, we get rewards more of like a cashback

Answer 2

Answer:

A checking account can also simplify your everyday finances by automating deposits and payments. Employers can arrange direct deposits of your paycheck into a checking account, so that you receive the money as soon as possible, while online bill pay can ensure that you always settle your bills on time.