smile has just scooped best online student account provider for the second year running at the Your Money 2007 awards, so what's all the fuss about?

On top of a free overdraft of up to £2,000 we'll give you things you might not get from other high street banks:

• 0.12% AER** interest
• we calculate interest daily and pay it to you every month
• you can move your money from one smile account to another at the click of a mouse - 'Eek!'
• we'll switch your existing account to smile for you - no hassle.

Plus the stuff you'd expect:

• a smile debit and cashpoint card which you can use at over 61,000 Link machines
• a smile chequebook
• if we change our interest rates we'll let you know.

All we ask is that you are at least 17 and a half, a UK citizen, UK resident, in full time higher education at degree level or equivalent with full time student status (with more than 6 months left on your course) and you deposit:

• at least £300, or
• an LEA grant cheque, or
• a student loan (you'll need to provide proof that you have funding of £2,500 or more).

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smile is part of The Co-operative Bank, which is a member of the Financial Services Compensation Scheme (FSCS), which would pay compensation to eligible customers in the unlikely event of the Bank becoming insolvent. Find out more.

Gross means the contractual rate of interest payable before the deduction of income tax at the rate specified by law.

**AER (Annual Equivalent Rate) is the notional rate which illustrates the contractual interest rate as if paid and compounded on an annual basis.