11/28/2016: College Student’s Guide to Choosing a Checking Account

college student money guideChoosing a checking account may be one of the first big financial decisions college students make. Finding the right place to keep your money can be challenging, with all kind of different incentives and benefits based on the bank and type of account. It can be difficult to know what to look for and know which benefits you may need or be eligible for. Use these tips to help clear up some of the confusion and make sure you’re getting the most out of your account.

Check for Convenience

Having an account that is easy to understand, easy to use and has features such as online account access and mobile banking as well as a large ATM network  within the proximity of your home and campus are all factors to consider when weighing pros and cons of the banks you’re researching. Your bank should be easy for you to use so you will be able to access your funds quickly and efficiently.

Know Your Options

Although it may be more convenient from a location standpoint to simply use whatever is closest to campus, it is important to look at all of your options so you have something to compare it to. You will want to know what benefits they offer and what that looks like compared with other banks. Some companies offer benefits such as free access to ATM networks and mobile check deposits. These features, along with mobile and online access, have helped expand banking options by increasing convenience, even from afar.

Look Into Fees and Balance Requirements

Being caught off guard by an unexpected charge is always an unwelcome surprise and can quickly become a big hassle for you to deal with, so make sure to check for information on minimum balance requirements or any potential monthly fees. You will want to use this along with the knowledge of your income and spending habits to determine what is best for you. If you don’t have a regular income, you may want an account with minimal fees and low or no balance requirements to avoid financial trouble.

Understand the Features

With identity theft being such a prominent problem, you may also want to look into the protection features the checking account offers so you can rest easy knowing your bank is there to help in case something should happen. Other features include mobile apps, texting alerts and online services. While a lot of banks offer mobile and online banking, their interfaces and ease of use can vary dramatically. Try to familiarize yourself with the features of the banks you’re considering to determine which one is going to be the most convenient and effective for you.

Speak with Professionals

To receive some more information and tips from trained professionals, call Western States Bank or visit us online today and ask us about our personal checking accounts. We will gladly walk you through our list of amazing benefits like free internet and mobile banking, free identity theft resolution, overdraft protection and other customer driven services. Get started today!

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