Going away to college requires students to make a number of decisions. What classes will they take? What activities will they join? But another important question they should evaluate carefully is which student bank account they will choose.
Young adults should first decide if they prefer a student checking account, savings account or both. While savings accounts may limit the number of transactions a student may have, they also allow young adults to earn interest on their accounts.
When deciding which banks may be best, students may want to factor in the types of services they offer, according to College View®. Banks that offer online services may be beneficial because they provide 24-hour access to funds, transactions are instant and students can review their statements daily, College View® reports.
Students should also examine the types of fees and charges banks may charge for overdrafts, bounced checks and transaction limits, the website reports.
Signing up for a student checking or savings account may provide a safe place for students to manage their finances and allow parents to send them money more efficiently in the event of an emergency.
Content provided by Brafton Custom News Marketing, intended for informational purposes only.