The Best Student Banking Features You Should Be Using

As a student, managing your overall finances can be challenging. Between paying for tuition, textbooks, and living expenses, it can be difficult to keep track of your spending. That’s where student banking comes in – a dedicated banking solution designed specifically for students. In this article, you’ll explore the best banking features for students that you should be using to manage your finances effectively.

1. No monthly fees 

One of the best features of such banking is that there are usually no monthly fees. This means that you won’t have to pay a monthly fee just to keep your account open. As a student, every penny counts, so it’s crucial to find a banking solution that will stay within your budget.

SoFi experts say, “Student bank accounts are made to help students to get their money right.”

2. Overdraft protection 

Overdraft fees can be a significant burden for students who may not always have enough funds in their accounts to cover their expenses. That’s where overdraft protection comes in. With overdraft protection, you can easily link your checking account to a savings account or credit card. 

If you overdraw your account, the bank will automatically transfer funds from your linked account to cover the shortfall. This can help you avoid costly overdraft fees and keep your account in good standing. Additionally, some banks offer overdraft protection for free, which can be a huge benefit for students who are looking to save money.

3. Mobile banking 

Mobile banking has become a necessity in today’s digital age, and it’s especially useful for students who are always on the go. With mobile banking, you can check your account balance, transfer funds, and pay bills all from your smartphone. 

This can be a huge time-saver for students who don’t have the resources to visit a physical bank branch. Additionally, many banks offer mobile banking apps that are user-friendly and great to navigate, making it simple for students to manage their finances from anywhere.

4. ATM fee rebates 

Another great feature of such banking is ATM fee rebates. Many banks will reimburse you for any ATM fees you incur when using an out-of-network ATM. This can be a huge benefit for students who may not have access to their bank’s ATM network while on campus or while traveling.

5. Budgeting tools 

Managing your finances can be a challenge, especially for students who are still learning how to manage their money effectively. That’s where budgeting tools come in. Many such banking accounts offer budgeting tools to help you track your spending, set financial goals, and create a budget. These tools can be incredibly useful for students who are looking to save money and avoid overspending. By using budgeting tools, you can stay on top of your finances and make sure that you’re always on track financially.

Such banking offers a range of features that can help you manage your finances effectively. From no monthly fees to budgeting tools, these features can help you save money and stay on track financially. When looking for such a banking solution, be sure to consider these features and choose a bank that meets your needs. By doing so, you can ensure that you have the tools you need to succeed financially both during and after college.