Besides a good college or school, a student needs virtuous financial support, particularly on how to manage money effectively.
Every student whether a native or foreigner thinks of economical and sustainable banking options, especially in a highly expensive place like the United States.
Banks provide student bank accounts and give financial education through coaches and webinars. Students can get services such as lower deposit balance, no maintenance fee, mobile banking, and free ATM withdrawals, along with budgeting apps or programmes.
The process of opening a student bank account is similar to a regular bank account. The only exception is that the requirements include a student ID with photo, transcript from school and college acceptance letter.
Student bank accounts are prevalent nowadays
Various American banks such as Capital One, U.S. Bank, Ally Bank, Bank of America, PNC Bank, and Discover provide student bank accounts.
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Developing money management skills
A student bank account is intended for the age group that hasn’t developed a banking habit yet. It can help your child build a foundation, grow and enhance money management skills.
Children will learn to save money and set aside some percentage of their deposits in savings. The student bank account has parental control features so you can oversee and control their withdrawals.
Conclusion
BankQuality, a platform that rate and review different banking institutions has gone through multiple banks to list some of the well-respected banking institutions that decently fulfil the banking requirements of a student.