Almost A Third Of Under 25s Say A Fraud Refund Guarantee Is A Key Factor In Which Bank They Choose

• Almost one in three (29%) say protection against Fraud is a key factor when choosing their bank.
• TSB Student Account offers 5% AER on balances up to £500.

As students across the country are preparing to start college or university within the coming weeks, research from TSB reveals the top two factors students look for when opening a bank account.

Almost one in three (29%) says security/protection if they are a victim of fraud is a key factor, while a third of respondents (34%) say digital capabilities are important to them.

Earlier this year, TSB launched its Fraud Refund Guarantee¹ and became the first bank to commit to covering customers if they are an innocent victim of fraud - whether it’s unauthorised transactions on their accounts or customers tricked into authorising payments to fraudsters.

TSB Student Account²

Students on the hunt for a new account can earn up to £25 in credit interest with TSB’s Student current account offering 5% AER interest on balances up to £500.

Students are also offered interest and fee free tiered Arranged Overdraft (subject to application and approval) of up to £1,500. Starting with £500 in the first six months, customers can then apply to increase it to £1,000 in months seven to nine and from month ten increase again to £1,500.

Additionally, the account is fully operational in TSB’s mobile banking app³ and Apple and Google Pay are also available.

Craig Bundell, TSB’s Director of Everyday Banking said: “Choosing the most suitable bank account is important and we want to ensure we’re providing the best solution for our customers.

“Our student current account offers a really great all-round deal, with a mixture of market leading interest rates and an interest and fee free overdraft– all backed by our Fraud Refund Guarantee.”