student bank accounts Money and Finance

Apprentices: Student Bank Accounts and Discounts

Think student bank accounts are just for university students? Think again. One high street bank is allowing apprentices studying for a higher qualification (Level 4+) to reap all the banking benefits that university students currently receive.

Which one? HSBC!

What is a Higher Apprenticeship?

Higher Apprenticeships are where you’ll be employed, receiving on the job training whilst also working towards a nationally recognised qualification equivalent to foundation degree level and above. This enables apprentices to combine university study and the workplace whilst also getting paid to learn! They are an excellent alternative to university without the price tag.

HSBC’s student account expanding to higher apprentices is a step in the right direction. Opportunities for apprentices are constantly evolving with new frameworks being created and different job roles becoming available to young people wanting a different career route other than the traditional university route.

Student bank accounts

The HSBC Student Bank Account for Apprentices is designed to cater to the specific financial needs of apprentices. HSBC, a globally recognized banking institution, offers this specialised account to help apprentices manage their finances effectively while focusing on their career development. Here are some key features and benefits of the HSBC Student Bank Account for Apprentices:

No Monthly Fees: One of the most attractive features of this account is that it typically comes with no monthly maintenance fees, which can be a significant advantage for apprentices who may have limited financial resources.

Overdraft Facility: HSBC may offer an interest-free overdraft to apprentices, helping them manage unexpected expenses or bridge financial gaps during their training period. The overdraft limit usually increases gradually as apprentices progress through their training.

Contactless Debit Card: Account holders receive an HSBC Visa debit card, enabling them to make purchases online or in-store, as well as withdraw cash from ATMs. The contactless feature offers convenience and security.

Online and Mobile Banking: HSBC provides easy-to-use online and mobile banking services, allowing apprentices to manage their account, check balances, make transfers, and pay bills on the go.

Dedicated Mobile App: HSBC typically offers a dedicated mobile app that includes features like budgeting tools, spending insights, and the ability to set savings goals, helping apprentices stay on top of their finances.

Savings Accounts: Many HSBC Student Bank Accounts for Apprentices come with the option to open a linked savings account, making it easier for apprentices to save money and earn interest on their savings.

Student Discounts: HSBC often partners with various retailers and service providers to offer discounts and deals to account holders, helping them save money on everyday expenses.

Access to Educational Resources: HSBC may provide financial literacy resources, workshops, or online guides to help apprentices develop essential money management skills and plan for their financial future.

Customer Support: HSBC typically offers customer support services, including 24/7 helplines and in-branch assistance, ensuring that apprentices can receive help with their banking needs whenever necessary.

To open an HSBC Student Bank Account for Apprentices, applicants usually need to provide proof of their apprentice status, such as a letter from their employer or training provider. The specific features and benefits of this account may vary over time and by location, so it's essential to check with HSBC for the most up-to-date information and eligibility criteria.

Overall, the HSBC Student Bank Account for Apprentices aims to make managing finances more accessible for apprentices, empowering them to focus on their education and career development without worrying about unnecessary banking fees or financial stress.

Head over to HSBC about find out about applying for a student bank account.

Looking for more ways to save money as an apprentice?

We’re sure you’ve heard of Totum, the student discount card and app? All your friends at university might flash them about when you go shopping and it allows them to get discounts making you slightly jealous. But did you know you can also apply for a Totum Apprentice card?

This offers you the same benefits as your friends at university are receiving and it costs just £24.99 a year and gives you access to over 400 discounts, deals and offers on big-name brands both online and in store, giving you big savings on eating out, tech, fashion, travel and more!

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