Assignment on banking services -

Cherry Tree Investment Banking

Many colleges have a bank they partner with to offer students campus affiliated checking accounts or prepaid debit cards. Benefits, may waive or reimburse ATM fees, even those for out-of-network atms. You normally have several options for how you get that money, including direct deposit to a bank account, to a card that might also double as your student ID, by check, or cash.

Comments on any post remain open for seven days from the date it was posted. Dont always provide the ability to write checks, may charge inactivity fees each month for not using your account frequently. Possibly charge monthly maintenance fees up to 12 a month in some cases if you dont meet the minimum balance or the banks other enrollment criteria, like maintaining a full-time enrollment status at school. If you are expecting money from your financial aid office, youll often get it faster this way it can be weeks before the school gets to writing you a paper check. To avoid paying overdraft fees, monitor your accounts carefully and consider: Not opting-in to services that pay for overdrafts connected to ATM or one-time debit card withdrawals. Linking your account to a savings account you may still pay a fee for transferring funds from your savings account, but it is usually much lower than an overdraft fee. Access to traditional in-person bank branches, on-campus branch locations and ATMs, may include online banking and bill-pay. May offer discounts at local or campus businesses, sometimes your student ID card can be used to access your money. Overdrafts can cost more than 30 each, so thats potentially a lot of money taken out of your pocket. 3. Sign up for direct deposit as soon as possible. Once you have a bank account, sign up for direct deposit with your school before classes start.