Opting for a banking institution is not at all a small matter, especially since this option is likely to have a lot of impact on the administration of your finances and will commit you in the long term. However, you should know that every type of student bank is growing day by day, making your decision more and more complicated. That’s why you need to consider a few parameters before rushing to embrace the account opening. Although some credit institutions will be happy to offer you welcome bonuses such as a bonus for opening an account, it is best to compare all the existing options before making your final choice at that particular institution. Thanks to this article, you surely have all the keys in hand to recognize one of the best student banks.
Online banks: traditional generation, new code
Over the past few years, online managers have gained a lot of ground on the trade. So much so that even banks with branches are rushing to digital versions, such as Boursorama Banque or BNP Paribas’ online banking. Their 100% digital formula simply concerns the Millenial generations returning to their consumption patterns: cancelled bank cards, transfers, appreciation of the ceiling… everything is suddenly realised, even on the internet. The dynamism of the advisors and their advice is generally related to quality in the sense that client satisfaction is part of the principle of their notoriety. Thanks to the lower final costs, their bank costs are undeniably lower. Their access requirements are more in line with those of the smaller ones except for the lack of student salary. Nevertheless, be aware of the exclusions. And for good reason, some of the best student banks do not consider student commitments and require a minimum level of income in order to create an account or do not offer, for example, Oséo student credit. If the latter is not a problem, it is possible to help you in your search for the ideal student bank.
Classical banks: The best reflex?
The best student banks, known as “physical banks”, are well known. They offer favourable banking packages for students and their parents for twenty years. Ask your customer relationship manager for more information on this subject. All this is reassuring when you lack experience in account management. But beware of studying innumerable offers, as their communication sometimes puts the conditions of the previous year into perspective. However, the periods of your studies are sometimes short and fees are likely to increase suddenly. Among other things, the partnerships are likely to offer favourable discounts in innumerable places of entertainment such as the former Crédit Lyonnais, abbreviated to “LCL”, or to pay for your cinema subscription as does BNP Paribas (a French bank behind the merger of Paribas and Banque Nationale de Paris). These are arguments exploited by the sellers (functionality, usefulness…), but the administration fees of your account are absolutely likely to double from the 2nd year in order to keep the rights. Likewise, be wary of the annual amount of all monthly options.
Choose a bank according to your needs
In general, choosing one of the best student banks means taking seriously, for example, all the projects that you really want to carry out, and which therefore suit you best. If you are planning to invest in a property such as an apartment, land, or house… you will be interested in the insurance and loan options. If you wish to have your assets grow, a stock advisor and investment opportunities will be more suitable. But, since you are a student here, you will have to identify a banking institution that offers student loans appropriate to your situation: housing assistance, payment of a permit, or acquisition of a computer.
Bank rates and charges: determining criteria
When choosing your best student banks, take into consideration the cost of that credit institution’s services that you have to pay. This is also one of the fundamental criteria that you will find in countless comparisons of credit institutions. Usually, if you have the basic financial needs, most of them will fit your needs. Pay particular attention not only to the conditions of access in terms of savings and minimum income, but also to their fee schedule. The administrative costs also influence the choice of your bank, those for the delivery and the use of your credit card.