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Discerning students 'should choose bank accounts wisely'



Those set to embark on their higher education adventure later this year should undertake a thorough examination of the bank accounts on offer before making a selection, it has been suggested.

According to moneysupermarket.com, the most important issues to consider are the interest rates and interest-free overdrafts available, rather than any tempting extras.

Clare Francis, the site's editor, addressed the issue for students and explained: "It is important to get your finances in order from the off so you have greater freedom to enjoy all of university life without worrying about it when it's too late."

She added that the value of freebies pales into insignificance compared with factors such as interest rates.

The expert also indicated that for some students, the in-credit rate is more important than the overdraft facility.

Recently, a piece in MSN Money claimed that UK citizens waste a total of £4.4 billion a year through neglect and carelessness, from putting the wrong fuel in a car's engine to leaving keys inside the house.

Posted by Fiona White
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