Best Student Bank Accounts of 2023

Best Student Bank Accounts of 2023

Uploaded on
Feb 7, 2023
Last updated on
Mar 18, 2023
Uploaded on
Feb 7, 2023
Last updated on
Mar 18, 2023
Best Student Bank Accounts of 2023

Are you going to start your new educational journey in the country of your dreams? Well, among the first things you need to sort out, your finances are among the most important. As an international student, living and managing your expenses can be overwhelming. But, with the right bank, your experience of international student banking can be pretty pleasant. 

In this blog, we have brought you a list of carefully selected banks that are trusted, credible, fast, and convenient. So, if you are an international student looking for a great banking option, read along and find out the best student bank accounts of 2023! 

Student finance management is easier with a bank account!

Having a lot of cash and storing it in your cupboard is undoubtedly not an option anymore when managing your finances. Especially if you are an international student, the easiest and safest way to manage your money is to have an international student bank account. Now, with the digitization of the world, handling a bank account is even easier. With the availability of digital transfers and online banking services in some of the best student bank accounts, banking can become relatively more accessible when you are away from home, on your own. 

With an international student bank account, you won’t just be able to manage your loan funds better but also use them for your daily expenses. With bank statements and digital tracking facilities, international student bank accounts are also crucial for expense management. 

Types of Bank accounts for international students

The primary function of the best student bank accounts is to help you save up, manage, and spend money the right way. For different purposes, there are different types of bank accounts. Here are the types of international student bank accounts and their uses: 

Checking Account 

Checking accounts is recommended when the account's purpose is to maintain your cash flow. A checking account is excellent for daily expenses, debit and credit card transactions, and online transactions. You can still store your money in a checking account, but since you are spending from the same account, keeping track of your spending can get tricky. 

Savings Account

Savings accounts are what international students use for storing their money and building up a saving. Savings accounts also give you interest for the money you keep in your account. The more money you have in the account, the more interest you can get. 

Crucial Student Banking Factors to Consider

If you are an international student looking for the best student bank accounts to have your checking and savings account in, there are certain things you need to keep in mind. Understanding these factors can help you find the bank that suits your needs while also helping you be prepared and know what to expect ahead. In short, keeping these factors in mind will help you find some of the best student bank accounts of all time! Here are the three crucial factors to remember while looking for the best student bank accounts:

Online banking facility

Bank visitations can be a hassle when you live in a new country, all on your own. But how else can you make sure that your banking experience is smooth? With the advancement of technology, going to the bank has become avoidable as some of the best student bank accounts provide online banking facilities. While looking for a bank for your student bank account, ensure your bank has online banking facilities. This will ensure you have fewer things to worry about while also having access to your account 24/7. 

ATM charges

International ATM withdrawals can be tricky since they come with ATM charges, a small fee for the transaction. However, some of the best student bank accounts eradicate ATM charges completely. Similarly, student bank accounts also come with the benefit of 0 monthly fees, given that students potentially have very low balances in their accounts. 

Opening documents 

As an international student, it is essential to know that many banks let you open an account with very few documents. Some of the best student bank accounts for students usually only require a passport, offer letter, and visa. So, while looking for your ideal bank account, ensure that your bank only requires the documents you have. 

Best Student Bank Accounts 

Are you an international student looking for the best options to have an international student bank account? Here’s our curated list of the five best student bank accounts of 2023: 

1. The Unizest UK Money App 

The Unizest UK Money App is a fantastic alt bank with all the regular bank facilities catering to international students. Unizest allows you to open your bank account only through your university offer letter, after which you get a 6-week period to supply a valid VISA. The Unizest money app makes your daily expenditure easier with its online payment feature. The ease and convenience that Unizest offers make it the first in our list of best student bank accounts in 2023! 

Country: The United Kingdom 


  • Fewer documents
  • Fast 
  • Convenient to use 

2. Go Study Australia 

It offers international students one of the most affordable and the best student bank accounts that provide smooth banking experiences with its free account opening facility. Their international student bank accounts include exclusive student baking benefits and 0 monthly maintenance fees. Go Study Australia offers cardless transactions and ATM transactions. 

Country: Australia


  • Affordable
  • Easy 
  • Additional features like Spend Tracker 

3. Lorien Finance 

They are the one-stop solution for all your financial needs as an international student. Lorien Finance provides everything from no-collateral student loans at the lowest interest rates to general US banking. You can open and activate your account with a few documents before moving to the US and start using it. Lorien Finance also charges no fees on ATM withdrawals or foreign transactions, making them one of the best student bank accounts.  

Country: The United States 


  • One-stop-solutions
  • Easy activation 
  • Zero extra charges 

4. Swadesh 

The fourth bank that makes it to the list of best student bank accounts in 2023 is Swadesh. If you are looking for the fastest option to open a student account, Swadesh can be perfect. With their most rapid opening facility, you can open a bank account in under 3 minutes. Swadesh also requires only your passport and US VISA to open an account. With a fully digital service, there is no need for in-person visits to the bank as the setup, activation, and verification of the account happens online. Swadesh also keeps your data encrypted and money protected by bank-grade security. 

Country: The United States


  • Fastest opening. 
  • Fully digital. 
  • Safest. 


HSBC  has been one of the most trusted banks in the US banking sector. With many benefits for international students, US HSBC offers a wide range of services that supports students through their educational journey in the US. With their checking account, you can make your online transactions easier and build a credit score in the US. HSBC international student account allows you to move foreign currency between accounts, making international transactions faster and easier. 

Country: The United States


  • Trusted. 
  • Wide range of facilities. 
  • Relocation packages. 

International student bank accounts are crucial when you are moving away for higher studies. Choosing the right bank for yourself is essential to ensure your banking experience is smooth and you have to face no additional hassles. With our list of best student bank accounts of 2023, you can compare all your options and ensure that the bank you choose meets your needs!