After all, it's much easier to open a bank account, and spend your overdraft than repay it and close the account. Thousands of new students opening thousands of new bank accounts are in a powerful position both ethically and financially. Bear in mind that you will need to use your account as soon as you arrive in Cambridge or risk being stuck without being able to get cash. It might be easier to open your bank account before you arrive - ask your local branch to transfer your account for you. For every pound the British public give charities for overseas aid, British banks take back eleven pounds in debt repayments from the Third World' says the World Development Movement.
Banks have enormous power over how the the world works - and some are definitely better than others.
CUSU recommends you don't bank with Lloyds and Midland because of their lack of ethical criteria to decide to what or whom they lend money. Both banks have allegedly been antagonists in the Third World debt crisis, causing poverty and hardship for millions.