Banks are very competitive and rightfully so. They want your business, they do not care if you are nearly broke, or that you do not have much money, because they are banking on the fact that they will be able to build a relationship with you while you are a student that will carry on when long after you graduate and are making money.
This is a great way for the banks to snag new customers and a great way for the student to get their feet wet as adults. thecreditrepairblueprint.com/the-best-student-checking-accounts/ There are special promotions that the bank offers to lure students in.
No Fee Accounts
Most banks offer no fee accounts for students as one of their student checking account promotions. This is a great opportunity for the student, as long as the student understands the limitations on the accounts. The banks want the business but they also like to not lose money on these types of accounts, so they impose limitations that are meant to protect the bank and the student alike.
Most students do not realize that they are in the driver seat when it comes to picking and choosing a bank to do business with, they often look at as the bank is doing them a favor, but they aren’t. Shopping around amongst the banks that are offering these special promotions is a great idea. This is the only way to get the best deal for you and your money.
The no fee accounts usually have the amount of transactions limited; they may even have the amount of deposits limited as well. For the most part these offers are a great way to get in the door at the bank.