With the rising costs of textbooks, tuition and other college expenses, you’ll definitely want to keep your finances in order to minimize debt after graduation. Thanks to the hefty fees that come with most checking accounts, it can be hard to keep on top of your money when you don’t have much to work with in the first place.
Minnwest’s Digital Checking is the perfect option for busy students that are looking into their first account. As long as you’re at least 18 years old, have $100 for the opening balance and a valid ID, you can open an account online in under 15 minutes.
It has all the convenient digital features you’d want in online checking:
But at the same time, we don't chip away at your balance with sneaky fees and penalties.
When there are so many checking account options out there, not everyone realizes how Minnwest offers friendlier features for those razor-thin student budgets. We're talking specifically about what makes checking accounts so scary for students: Overdraft fees.
At around $35 a pop, depending on your bank, a student can easily find themselves several hundred dollars in the hole. And we get it: Most of us find ourselves overextended from time to time. But unlike traditional banks, Minnwest offers upfront features to keep the financial carnage of overdraft fees to a minimum.
First and foremost, you have a choice in how your debit card transactions are processed should there not be enough funds in your account to cover the purchase. You can opt-in to allow purchases to go through and be subject to an overdraft fee. You can also opt-out so the purchase would be declined with no fee incurred.
You can rest easy knowing you're not a shopping trip away from being buried in overdraft fees.
But we also have other convenient tools to keep you on top of your balance:
Once you have your Minnwest Digital Checking up and running, here are some tips for busy college students to stay on top of their finances.
Your checking account balance and ability to transfer funds and pay bills are always in your hip pocket. Learn more about our Minnwest Bank mobile app here.
Now that you have your app, check in daily to see how much you have in remaining funds, whether it’s first thing in the morning or before you head out to meet your study partner at the campus coffee shop.
While you’re looking at the balance, scroll down and review your transactions. If you see a purchase you didn’t make, report it immediately. For Minnwest Bank inquiries, call 1-844-MINNWEST (646-6937).
Always make a list of which expenses are coming up, and how much money is coming in. Then, do the math, rinse, repeat.
Always sign up for direct deposit. No one likes driving to work on their day off. You’ll need to provide your routing number — a nine-digit code that identifies the financial institution — as well as your account number.
Minnwest checking accounts come with free CardValet, an online service that lets you control your cards with your mobile device. CardValet comes with great features for busy college students, including:
When you pack off to the dorms, it’s good to know the helpful hometown bankers at Minnwest Bank are always a phone call away. As you take your life to the next level, our personal bankers are here to help you get things done. Learn more about our personal checking accounts and other convenient online and digital services today!