Published by Jaclyn Silverberg on 23 Aug 2010
Student Money Bundle: A Student Package That Rewards You for Banking
As we mentioned in our Bank Monitor Update (Corporate Insight subscription required) last week, Citizens Bank repackaged its fee-free Student Checking account into a new $3.99-per month Student Money Bundle. The new Student Money Bundle includes a basic checking account, as well as the chance to receive coupons on popular student items by registering through an external sitelet.
The bundle consists of the following new features:
· Discounts on items such as food, books, electronics and entertainment. Students must create a profile at a Money Savings Discount Site to receive coupons – very convenient for discounts!
· Coverage of up to $250 in cash to cover theft or damage to a cell phone if the cell phone bill is paid by the account’s debit card.
Student Banking is a crucial topic of discussion this time of year as every parent hopes that their child is financially responsible to be on their own and to handle a credit card. A few other firms with notable package highlights for Students are:
· Bank of America Student Banking Accounts
o Bank of America Debit Card with Total Security Protection package including the Photo Security Feature
o Free Online Banking Service with Mobile Banking
o Chase offers a free checking account to college student for up to 5 years
o Free Debit Card with Zero Liability protection
o Free Online Banking and Bill Pay
o Interest rate discount on select student and automobile loans
o Monthly service fee waived when the account is linked to Wells Fargo PMA Package or Wells Fargo Campus ATM or Campus Debit Card
o Minimum opening deposit
As August wound to a close, several firms took the opportunity provided by the dog days of summer to improve their sites and unveil new site features. The list of firms making changes includes Citizens Bank, Fidelity, ING Direct, Scottrade, TD Ameritrade and Vanguard.
