What is in the best student debit card?

A student debit card makes it safer and easier to make payments. This type of card is a must-have for making the most out of your money when you’re at university. 

It also helps you to manage your earned funds better and prevent you from being into debt because you usually can’t spend more than you have.

Before picking any student debit card, you need to understand the student debit card.

What is a student debit card? 

A student debit card is a specific kind of card applied to students. You can hold your money until you want to use it. 

This card has lower fees and simpler features than a regular checking account, but they’re often limited to age. 

Some kinds of student debit cards are available to high school students at the age of 13-17. Others are available to students completing high school or are at the age of 18. 

In addition to satisfying an age requirement, you must attend school to qualify for a student debit card.

In general, using a student debit card will be safer and easier than using cash.

Basically, the best debit card for students charges no fees. This means zero in-network ATM fees, online banking fees or overdraft fees.

Some debit cards can charge you ATM fees to withdraw your cash. You can also run into a hidden fee when buying from international sites or end up getting charged for a bank transfer.

What is in the best student debit card?

What are some features of a student debit card?

Typically, there are some common features of student debit cards as follows:

Connect to a checking account

Your student debit card is linked to a checking account. Then, you can make deposits to the checking account through cash, transfer or check. The money which you spend on your debit card takes from your checking account.

Can be used online and in-person

Your card has a unique account number. This allows you to make in-person or online payments. 

Come with ATM access

Using a student debit card is more convenient and safer than using cash. But sometimes, you need to use cash only. You can use your student debit card to take out cash from an ATM. 

There’s no charge applied when you take out money from an ATM within your bank’s network, but you will be charged when using an ATM with different networks.

It’s better to look for a student debit card with access to several ATMs in the locations around your university. Some banks include school campuses in their network of branches.

Enable direct payments

Because your student debit card is linked to a bank account, your bank account has a unique account number. You can use that number and your bank’s routing number to make direct payments or receive a direct deposit. 

Offer online and mobile banking

Many student debit cards have an online platform where you can check your balance, make transactions, and ask for help from the bank’s customer service. 

Nowadays, free online banking and free mobile banking seem to be an inevitable thing. A student debit card with online banking helps you save time, track your funds, and improve money management skills better. 

Through online and mobile banking platforms, you can make transactions, track your account balance, and deposit checks.

Low or no monthly account maintenance fee

Making payments with your card has no fee if you don’t replace a lost card. However, the checking account connected to your student debit card can have a monthly maintenance fee. Some banks can charge up to 15 dollars in fees unless you maintain a minimum account balance. 

You should try to look for a free student checking account with a very low minimum balance requirement.

No transaction limit

Instead of lower or no fees, some banks can put a cap on transactions you made on your student debit card. 

If you exceed that cap, you will be charged or your bank will convert your student bank account to a regular bank account, so you should look for a card without limiting a transaction.

No overdraft capability

With a student debit card, you can’t spend more than you have. Having a student budget and sticking to it is a good financial habit, so look for a student debit card with no overdraft capability. By that way, you don’t need to worry about being charged overdraft fees.

Some banks can allow you to set up an overdraft protection if you open both a checking and savings account. This will automatically send money from your savings account to your checking account if you overdraw.

More about DNBC Financial Group

DNBC Financial Group has been a trusted financial institution in the Fintech industry, giving money payment solutions all around the world with personal and business accounts.

DNBC Financial Group has become the money transfer platform since 2017 with payment solutions at fair fee and competitive exchange rate.

DNBC Financial Group now attracts more and more customers to make international transactions with a fast and simple full-online payment solution.