School ID cards linked to checking accounts make banking easier for students.
BANKING IN campus CAN be a stressful activity for young adults. Many face their first real-world responsibilities now that they’re not living with mom and dad, and part of the maturing process is learning how to manage their finances. Students have to learn how to track their spending, maintain a budget, monitor student loan funds and try to save a bit for the future. That’s a lot to remember.
One way students can get a strong start is by opening a student checking account. These accounts are often better than standard checking accounts in that they are designed with students in mind.
Meanwhile, a new trend is emerging in the banking world that could further reduce the stress of money management for students by bringing the bank to school. Several universities have partnered with banks or credit unions to provide student checking accounts that are linked to student ID cards. As soon as you get your school ID, you can go to the partnering bank or credit union and connect it to an account.
The advantages.The biggest benefit these partnerships offer is a direct connection between students’ banking and institute needs. The card works as both your ID and your banking card (that’s one less plastic card for students to worry about .
The ID is also a Midfirst Bank check card, accepted at any MasterCard location and ATM nationwide.
Some of these partnerships offer free gifts or technological benefits.
Finally, if banking on the go is a concern, students should choose a bank or credit union with a mobile website or app.