Did you know that there are different banks that offer student accounts? These bank’s give students discounts on banking fees as well as transactions. This means that students don’t have to pay normal banking fee’s. If you want to open one of these student account’s and you are a local student you will need the following;
- A valid letter from your institution.
- You must be between the age of 18 and 25 years old and not working full time.
And if you are an international student a letter from you institution will also be required. Along with a study permit and a valid passport. Here are a list of banks with the types of accounts and how much they each cost a month.
- Nedbank dezign account: R18.00
- Absa student silver account: R17.50
- FNB student account: R24.50
- Standard bank student achiever account where there is no monthly fee for person’s under the age of 23.
- Capitec doesn’t have students account but it’s fees are very low.
So if you are looking to bank smarter, look into what student accounts there are and which one works best for you. Also remember that just because a bank has no monthly fee it doesn’t mean it is the cheapest. Look also at transaction charges as well as other fees.