There are several typical benefits and drawbacks to student accounts, including:
Advantages:
> Easy, fast access to funds
> Interest-free overdraft facilities
> Electronic payment facilities
> Chequebook for cashless payments
> Credit card account
> Online, electronic management of money available
> Access to money abroad - no need to exchange cash
> Valuable / useful gifts offered to new customers
Disadvantages:
> Usually low interest rates
> Possible daily limit on cash withdrawals
> May face charges for use of certain services, e.g. overdraft
> Security of electronic transfer and of account cards can be compromised
> Danger of debt from credit card usage and reliance on overdraft
> Some accounts charge for withdrawals abroad
