What Makes a Student Checking Account Different from a Regular Checking Account?
The Student Checking Account offers a unique combination of benefits specifically designed for students. One of the standout features is the $200.00 cash back match (per calendar year), which pairs with our Save the Change program. This program is perfect for students who use debit cards frequently, helping them save money with every transaction.
How Does the Save the Change Program Work?
When you open a Student Checking Account along with a Savings Account, you can enroll in the Save the Change program. Here’s how it works:
- Every time you make a debit card purchase, the amount is rounded up to the nearest whole dollar.
- The difference is automatically transferred to your Savings account.
- Plus, for Student Checking Account holders, the bank will match these transfers up to $200 per calendar year, effectively doubling your savings.
Think of it as “digitally throwing your change into a jar,” and then having it magically double each month.
Tips for Students to Avoid Overdrafts and Stay Within Their Budget
Managing finances as a student can be challenging, but with River Bank’s electronic banking features, you can stay on top of your spending. Here are some tips:
- Monitor your accounts regularly via the River Bank Mobile App or Website to track your balance and receive alerts.
- Set up custom mobile alerts for any debit card activity or low balances, ensuring you’re always informed.
- Use Overdraft Transfer Protection by linking your Student Checking Account to another account with matching ownership. This helps protect you from overdraft fees by automatically transferring funds from your linked account when necessary.
Financial Education Tools to Help Students Budget
Learning how to manage money early is crucial. River Bank provides several resources to help students make smarter financial decisions:
- Mobile Alerts: Set up notifications for every debit transaction, helping students become more aware of their spending habits.
- Budgeting Tips: Use the information gathered from your alerts to create a personalized budget, helping you align your spending with your financial goals.
- For additional support, visit our online Learning Center or schedule a session with one of our Universal Bankers for personalized guidance.
Youth Savings Accounts: Features and Benefits
What Makes Youth Savings Unique?
The Youth Savings Account is specifically designed for individuals under 18, offering several key benefits:
- No maintenance fees
- Premium interest rates on balances up to $5,000
- After turning 18, the Youth Savings Account automatically converts into a Savings Account without any action needed.
What Financial Lessons Can Children Learn from Using a Youth Savings Account?
A Youth Savings Account helps children learn the importance of saving money:
- Minors receive an interactive “Adventure Map” to track their deposits and earn rewards for reaching savings milestones.
- The premium interest rate teaches the concept of earning interest and growing money over time.
Conclusion
Managing your finances as a student is easier than ever with the right tools and resources. A Student Checking Account with Save the Change helps you build savings effortlessly; while features like mobile alerts and Overdraft Protection ensure you stay on top of your budget. Plus, starting early with a Youth Savings Account sets you up for long-term financial success.
Ready to take control of your finances? Open a Student Checking or Youth Savings Account today and start building a strong financial future! Visit RiverBank.biz or Contact your nearest branch to get started.
