Most of you won't open a current account while still living and studying at home. At this stage, a savings account is likely to be all you need - as a home for hard-saved money, say, or birthday and Christmas cash gifts. But by the time you go to university, college, or take a gap year, you'll almost certainly need a current account to help you pay your way in the world.

A current account allows people - whether a local education authority, Student Loan Company or your parents - to pay you your grant, student loan or other income directly. It also lets you buy things conveniently, without the need to carry around large amounts of cash.

Most banks and building societies are keen to offer students a current account - they hope that you'll stick with them for life, as many people do. Many also have special student accounts which are similar to a standard current account, with some features and perks designed to appeal to students.

This can include a range of incentives to sign up, such as free CDs or discounts on books and travel. Some banks offer access to a student banking advisor or provide loans for postgraduate training. However, before you sign up just because you're attracted by a free CD, think about what you need from a current account. Most accounts will provide some services as a minimum, but there may be some specific requirements that could make all the difference to you.

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