When it is time to go off to college, you might find that you need to get yourself your own checking account if you don’t already have one. Student checking accounts can be really good because banks tend to offer special perks that are not available for other types of accounts.
In this article, we are going to discuss why you should consider setting up or changing your account to a student checking account so keep reading if you’d like to find out more.
Your Money Is Safe
When you choose a trusted bank, you can be assured that your money will be safe. Having a student checking account to keep your money in when you are at college is an effective way to keep track of what you have left to spend. Many people choose to keep their money outside of banks, but this can sometimes mean that they lose it, or it is stolen. If you are planning on living with people that you don’t know when you first go off to college, we recommend that you put all of your savings into an account where it will be safe.
Easy to Set Up
If you are planning on going off to college, you won’t need to worry about going through a difficult process to set up your student checking account. Most student checking accounts won’t ask you for a minimum deposit and they are designed for students who don’t have a lot of banking experience. The great thing about these accounts is that there is often also no direct deposit required as well so you can guarantee that you are getting the most for your money.
Setting up a student checking account does not just have benefits when it comes to setting it up, there are plenty of benefits offered by the different banks that you will choose from. Choosing the right bank to open up your student checking account can mean that you won’t have to pay a monthly maintenance fee, you’ll have overdraft protection and if your statements are online, you won’t have to pay anything for those either. Banks also know that students want to use online banking, so they make their accounts available for use on the mobile sites or apps.
Our Final Thoughts
If you are going to be a student in the near future, we highly recommend that you do some research and find the best student checking account for you. If you are planning on using your bank branch often, choose a bank that is nearby to your college or where you will be staying. If you think that you will be mostly using online banking, then you won’t need to worry about this quite as much. You won’t be disappointed with the benefits and peace of mind that having a student checking account can give you so make sure to get signed up or switch your account as soon as possible!
While his background is mostly related to trading stocks, he recently gained interest in real estate crowdfunding with Fundrise.