Checking accounts are available to all of us, and they come with a variety of features. However, today is common to find a checking account specifically introduced for seniors or students. In most aspects, these accounts are different and have a different demand/offering requirements. Nevertheless, the best checking accounts for seniors and students are more than just essential. Another, good thing we will mention is that more and more banks offer this type of auditors.
Checking accounts for students
Checking accounts for students are developed for all people age 18-24. Some banks may offer the account for those in high school, but not necessarily. In many terms, they are completely different than checking accounts for seniors.
The entire point of having this type of account is to get affordable features, while still obtaining decent possibilities. As such, these accounts are ideal for ATMs cash withdrawal and for people who need simple credit cards. All of the credit cards are designed to function with as low balance as possible.
Obviously, free monthly maintenance of the account is mandatory, and there isn’t a point in having an account with a fee of $20 or even more.
Checking accounts for seniors
All seniors will use their checking accounts in a different way than students and adults. For example, they prefer checks, cash withdrawal is rare, and features for savings are mandatory. As a result, most banks offer precisely that. Their checking accounts are optimized for limited cash withdrawal, come with low fees and provide free checks.
We must point out that not all the banks have the same senior-approval requirements. For some, you must be 50 years old or older, while most others require from you to be 60 years.
Addition types of checking accounts which will be suitable for students and seniors
Just because you are a student or a senior, it doesn’t mean you are obligatory to get one of two mentioned accounts. In a matter of fact, we have several other subtypes of checking accounts which may be suitable for you.
- Tech-based accounts- These accounts have the ability to incorporate all the latest features and demands of the market and users, related to the online shopping, online safety, and mobile coverage. Additional possibilities such are several different accounts, and mobile notifications are available.
- Premium accounts- If you have a high monthly income or a significant amount of funds on your account, a bonus account is essential for you. There are specialized accounts for seniors and students. Just some of the benefits are the higher credit loans and better saving rates.
- Reward checking accounts- We believe that this type of auditors is solely for students. It allows them to get rewards such are higher interests rates and free ATM usage but only if a user meets the demands. Usually, those demands are purchases via debit card per month.
Best checking accounts for students
Here are the best checking accounts offered by some of the best-known banks. All of them are primarily focused on students.
- Citibank Student Account
With $0 fee when you use other ATMs and the same amount of money for a monthly fee, this account is just the best for students. Balance to avoid the fee is also $0. There are 58 branches of the bank, which isn’t much but is enough.
- Bank of America- Core checking
With 98 branches across the country, this may be the best option, if you travel. Using other banks, ATM is $2.50, which is the main difference compared to the previous bank. Other fees are $0.
Best checking accounts for seniors
If you are a senior, you will have a different needs for your checking account. Here are two banks which may be the right choice.
- Charles Schwab Bank High-Yield Investor Checking
All fees are $0 (monthly fee, opening deposit, balance to avoid fee), while the interests are 0.10%. 24/7 customer support is available as well.
- Travis Credit Union Silver Wings Checking
Travis Credit Union Silver Wings Checking will require a deposit of $1, which isn’t a big deal. Other than that, all the requirements are the same as for the former bank.
Checking accounts for students and seniors are not something most people know about them. They are still rare and may be difficult to find in your hometown. But, they are just perfect if you are a student or senior thanks to the features and possibilities solely invented for your demands. Don’t forget that there are a variety of accounts to choose from!