“Many student accounts have age limits, at which point the account converts into a standard current/savings account with different fee structures,” says Matjanec. Having your own student account is your acceptance of the financial responsibility that comes with adulthood. A big part of that is being able to manage your personal finances and that begins with your student account. Even if you never write a cheque in your life (using online bill pay, debit cards and your smartphone instead), your student account is like your spine. Many employers offer direct deposit of your pay cheque which gives you quicker access to your funds, but you need a student current account.

Source: Punch January 21, 2018 23:03 UTC