Introduction
This is the most-oldest bank in America. So many years ago, it existed as the only Bank in America; later it merged with the NationsBank in the year of 1998. If you are a student and thinking of creating a bank account then, you should create it on the Bank of America. This bank has received the best Bank Award for several years in the USA. It also listed its name in the top of the best Bank list across the country. As it is a nationwide bank, if a student lives outside of his/her own state, that student can easily find atm in that state nearby if cash is needed. A student can create a bank account easily by depositing a minimum amount of money. It does not deduct any kind of monthly maintenance fee. Let us know Is Bank of America a Good Bank for Students?
Description
For a lot students opening a bank account may be the first step which enable them to manage their personal finance. Every student wants their bank near to them i.e, near their college campus, mess or hostel because suddenly if a need money they can get it easily, this can only be possible if your bank is nationwide. This bank has too many branches in a particular area which help the students a lot when money is need. Whenever you add yourself as a student owner this bank automatically deduct the maintenance. If the owner of the account is a student, then he/she can be defined as a person who has enroll for both school or any other educational program, but their must be under 25.
Steps to create a student account in BOA
(i) Any government certified ID like- driving license, with photo, passport, USA state-issued ID or photo.
(ii) Along with it any of the document listed below::
Social security card, credit or debit card from another financial institution or current vehicle registration.
(iii) then select a name for the account.
(iv) provide the personal information that is required for creating the account.
(v) confirm your information that is given by the student, then select the features and funding option.
Eligibility of Students for Checking Accounts
The two most possible ways which is best for students to check the account are <-> Advantage of safe balance checking account and another is Plus banking check account.
Advantage of safe balance banking
(i) If a student is under 25 then it will not deduct any kind of monthly maintenance fee from him/her.
(ii) No overdraft fee will be cut off if a student withdraws more money than he/she has in their account.
Advantage Of Boa
ATMs Nearby
The best benefit a student gets from a nationwide bank is the easy availability of thousands of ATMs in every state. Any student can withdraw money from anywhere beside their hostel, house, college campus or any place wherever they are.
Easy Checking of Bank Balance Through Mobile
A student can check their bank balance from their phone through the bank’s own mobile app. You can easily download the app from the play store and check account balance or any other information related to the bank. If anyone receives any kind of check he/she doesn’t need to go to the finance center; they can easily deposit the check right through the phone.
Liability Guarantee
Bank does not take any liability fee for debit card and offer chip technology as additional security to the debit card.
High Quality Security
If you lost the debit card you can lock it from your mobile by using the Bank of America mobile app. The mobile app collaborated with Zelle which gives the best security for money transactions through this app to family, friends etc. Locking your card does not mean that you report that your card is lost or stolen. By locking your card for any reason does not affect your transactions that are made in that particular period of time.
Keep the Change
Keep the change is a very good program for the customers of Bank of America. Due to this program whenever anyone purchased something by using their debit card, the purchased amount is automatically converted into the next whole dollar amount, if any change is required to be made then the amount of change will automatically be added to the individual’s account.
Enrollment Facility
After the completion of enrollment process, the bank will round up your Mastercard or Visa card purchase to a very low amount.
Conclusion
This Bank has many branches across the country which helps the student to withdraw money from any place where they are living even if they are outside their home state. It provides very good service across the whole USA, it has millions of customers with approximately more than 4000 financial centers, and nearly 16000 ATMs. It has an award winning Mobile Banking App, which helps their customers all over the country from any type of Bank related issues. For a student who has to leave their hometown, city or state for study purposes, it gives those students a very good facility for them. Lastly, for a student, Bank of America is no doubt the best Bank.
Frequently Asked Questions
How much amount is needed to create an account on Bank of America?
- $25 is required for SafeBalance and $100 is required for Advantage Plus.
How much time is required to get the ATM from Bank of America?
- It just needs 4-6 business days to get the debit card.
What is the transaction monthly limit of Bank of America?
- You can withdraw up to $700 and in case of purchase using PIN the limit is $1000 from your account balance daily.
What are the benefits for student accounts at this Bank?
- (i) No maintenance fee is required if the student’s age is under 25.
- (ii) SafeBalance banking checking is a smart choice for students.
