Given students have historically been unlikely to switch banks once they open an account (hence all free stuff high street banks use to lure them)… Monzo should offer a basic student account, but with very limited freebies. Importantly they should offer Open Banking integration for free with student accounts. This way the high street banks carry all the cost of the freebies and the risk of overdraft abuse etc, whilst Monzo effectively owns the customer relationship for the long term.
In theory, students should only have 1 student account.
I disagree students should be given a multitude of products free, they get enough.
HSBC only requires that your ‘stipend’ is deposited into their account. There is nothing to stop you moving it directly into another. Open banking makes this very easy
Bank accounts, yes, student bank accounts, no.
You can do one of the CASS transfers from a student bank account. Some banks insist they are your only student account, but not all do and there used to be a guide on one of the student forums telling you which sequence of accounts to maximise your benefits.
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