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Students are very concerned about managing their finances, so they look for their chequing account. The primary objective of the students is to save every dollar. While keeping this objective in mind, the best bank account for them is the one that doesn’t charge for monthly fees, Interac e-Transfer and Using ATMs.
There are several options available for students. A number of banks offer multiple accounts specifically designed for students. Below are some of the best bank accounts for students, and they can consider one of these for their everyday banking requirements.
1. Scotiabank Student Banking Advantage Plan
Students love the chequing account offered by Scotia bank. Scotiabank Student Banking Advantage Plan has been designed to keep in mind students’ needs, which is why it is a no-fee student bank account.
This bank account comes with a lot of features. This is a no-fee bank account. Students have to pay nothing in the form of monthly fees to operate the account. Students have limited funds that they never want to spend on transaction fees. The students can make unlimited debit transactions and Interac e-Transfers.
Scotia bank has a vast network of 4000 ATMs and branches across Canada. So, withdrawal of money or visiting a branch is not an issue. Another great feature for students is the reward points. Students could qualify for 5000 points to spend on movies, food, travel, and shopping for a new account sign-up.
2. EQ Bank Hybrid Saving Account
If a student is looking for an online bank rather than a traditional one, they will find many options, and they can consider one of these, but EQ Bank Hybrid Saving Account can be considered the best account.
EQ banks have combined the features of a chequing account and a saving account in a single hybrid account. So that they can enjoy the ease of chequing an account with the opportunity to earn something as well, this account never charges the students in the form of monthly fees and free unlimited transactions, and Interac e-Transfers are allowed. You will have the advantage of earning 2.3% interest without the need for a minimum deposit. All the deposits in your bank account are CDIC insured. However, students will not have the privilege to withdraw cash through ATM cards as no debit card is issued.
3. Tangerine No-Fee Chequing Account for Students
If you need an account that offers the features of an Online bank’s accounts but also lets you use it like traditional banks, then Tangerine No-Fee Chequing Account for Students is for you.
Get advantage of a no-fee account and free transactions. At the same time, you can use 4000 ATMs of Scotia Bank to withdraw cash without any charges. This account also offers a small amount of interest. You will have a chance to get $200 when opening a new bank account. The students will have unlimited debits, bill payments, pre-authorized payments, email money transfers, and Interac e-Transfers.