Open Your Checking Account Before College
As the excitement of entering college approaches, many students find themselves preoccupied with selecting their course schedule, buying textbooks, and settling into their new dorms. While these are all important aspects of the college experience, one crucial element that is often overlooked is establishing a checking account. Now more than ever, financial transactions occur predominately online which, makes having a checking account essential for college students. We’re here to help you understand why opening a checking account before starting college is not only advantageous but also a wise step toward a strong financial future.
Convenient and Efficient Money Management
Transitioning to college often means increased independence that includes managing your personal finances. Opening a checking account provides a convenient and efficient way of handling your money. You can deposit funds, receive payments, pay bills, and make purchases using checks or a debit card. This accessibility allows you to keep track of your expenses, ensuring you stay within your budget and avoid overspending.
Safety and Security
Carrying large sums of cash is risky and leaves you vulnerable to loss or theft. Opening a checking account allows you to have a safer alternative for your funds. By depositing these funds into an insured account, you can enjoy the peace of mind that comes with knowing your money is protected. Moreover, most financial institutions provide additional security features such as fraud protection, monitoring suspicious activities, and the ability to freeze your debit/credit cards if they’ve been lost or stolen. At Robins Financial, we offer our Cards app for members to add an extra layer of security to their accounts. You can temporarily lock your card if it has been misplaced, set up alerts to be notified when your card is used, and even make changes to your PIN.
Building Financial Responsibility
College is an opportune time to develop essential life skills and managing your personal finances is a significant part of that process. Opening a checking account with Robins Financial encourages financial responsibility and independence. By actively monitoring your account balance, tracking transactions, and reconciling your monthly statements, you can cultivate good financial habits early on. These skills will prove invaluable in your future endeavors, ensuring a solid foundation for your financial well-being.
Access to Digital Banking
In today’s digital age, banking online has become an integral part of our daily lives. With a checking account from Robins Financial, you will have access to full suite of digital banking services that make managing your finances easier than ever. Through your computer or mobile device, you can enjoy access to digital banking anywhere, at any time. You can view your account balances, review transactions, transfer funds between accounts, pay bills, and even deposit checks* remotely. These features save you time and effort, allowing you to focus on your studies without the hassle of visiting a physical branch.
Access to Financial Services
As a member of Robins Financial Credit Union, you can enjoy access to a variety of other financial products and services. You can open savings accounts, certificates of deposit (CDs), and even investment options to help your money grow. You are also able to apply for loans and credit cards in the future. By building this relationship early on, you can leverage these services as you navigate through your college journey and beyond.
The Bottom Line
Opening a checking account before heading off to college is a wise decision that can offer numerous benefits. From convenient money management and enhanced security to fostering financial responsibility, the advantages are abundant. By taking this step, you equip yourself with the tools and knowledge necessary to navigate the financial aspects of college life successfully.
If you’re heading off to college this fall, open a Robins Financial checking account today! You can open an account online or make an appointment to visit your local branch and one of our member service representatives will be happy to assist you.
*30 day waiting period and eligibility requirements apply.
At Robins Financial Credit Union, our mission is to enhance the financial well-being of our members and community. We honor this commitment by providing educational content to help you make the most of your finances. Read our other blog articles to help you gain the financial knowledge you need to succeed.