THE initial celebrations are now over and it's time for students to sort themselves out before starting at university.

Along with the stresses of arranging accommodation, packing and leaving friends and family, there's the added burden of a student bank account.

The only difficulty these days though is which gift do you decide to accept?

High Street banks are beginning to realise what good business students are - with graduates ending up not just with a degree but also a vast amount of debt, there's a bit of money to be made.

So, how do you decide between the incentives on offer when there's so much to choose between them?

NatWest says that it promises more campus-based branches than any other bank, plus student advisers at all branches near universities to offer help and financial support.

The added bonus of opening an account with NatWest is the choice of £35 in cash, or a Panasonic CD player worth £49.99.

As for an overdraft limit, NatWest says it will arrange an interest-free overdraft to meet each student's needs.

There is also a Student Mastercard available with a credit limit of £500 and no annual fee.

NatWest can also offer 24-hour banking, belongings insurance, a servicecard, commission free foreign currency, travel insurance and much more.

"Students don't just go for incentives or what the account can offer now, you have to make sure you have an account that will be what you need after your degree," said Erica Harper of NatWest.

"The best thing about our advisors is that most of them have been to university and can give tips and advice that helped them."

Barclays Bank is trying to tempt students with £40 of vouchers for books, CDs and videos, plus 15 per cent off all books, CDs and videos from Waterstones and HMV.

Like other banks, Barclays is offering an interest-free overdraft of up to £1,250, available on request.

Any agreed overdraft between £1,251 and £3,000 is subject to an interest rate of 8.9 per cent.

Barclays also offers a credit card, which is officially endorsed by the National Union of Students.

The Student Barclaycard has no membership fee and a variable credit limit.

The bank can also offer Online banking, a Connect card, discounts on travel services, commission free currency and the chance to speak to a student business officer.

LloydsTSB's student account also promises cash when you open one up, but you will only receive £40 if you or your parents already bank with them.

There is a special telephone and internet banking service for students which has a team of experts on hand to help with any requests such as standing orders and change of address.

The account promises an overdraft of up to £1,500 during your first three years of study, but it will rise to £2,000 if your course extends beyond that.

There is also a credit card on offer. The bank's Asset card comes in a variety of designs and comes with a minimum limit of £250. There is also no annual fee.

LloydsTSB also offers a debit card, free banking and commission-free currency. There is also a free Rough Guide to the internet when you register online.

"I'm banking with Lloyds because I already had an account with them," said Emma Boyle, a student at Liverpool University.

"I know a lot of people who have already worked for a year and had a bank account but didn't want the hassle of changing it again.

"Because they have a central student bank system I can deal with the same people wherever I am, whether I'm at home in Ledbury or in Liverpool."

If you would rather have the benefit of discounted rail travel then an account with HSBC is the one for you.

Open up a student account before Tuesday, October 31, and you can choose between £50 cash or a four-year young person's railcard, worth £72.

The railcard gives a discount of 33 per cent on rail travel, though certain restrictions do apply.

HSBC has a staggered interest and fee-free overdraft facility, ranging from £750 in the first year up to £1,500 for fourth year studies.

There is also a fee-free credit card with a £500 limit and a debit card and chequebook.

HSBC also has student insurance, travel insurance, student counsellor service, 24-hour telephone banking and internet banking is launching this summer.

The bank can also boast branches on or near campus where its student counsellors, who specialise in facilities for students, can offer friendly advice when faced with financial difficulties.

Whatever account you decide to open there is always someone who can help when you find yourself in difficulty, whether it's online, on the phone or in person.

The account services mentioned apply only to first year undergraduates.