Banking For College Students

If you’re headed off to college this fall, you’ve probably signed up for your classes, picked up supplies for your dorm room and are packing up to leave soon. But have you thought about how to manage your money or how to get money from home?

Electronic banking has done wonders for us all, making it easier to manage our money and even to receive money from others. Here are some VCNB products that will make your financial life better:

Checking Account
Everyone needs a checking account. Even if you don’t have a job or a lot of money to manage, a checking account is the best way to handle the funds you have. A Checking My Way or Rewards Checking account are great options for most young adults. Click here and select “Checking Accounts” to learn about these accounts and to open online!

VCNB Mobile/Online Banking
teenager laptop cell phone headphones.jpgYou may be far from home but we offer two convenient tools for accessing your money 24/7 from anywhere your smartphone or computer works. Login to your accounts at www.VCNBfamily.com or with VCNB Mobile, our easy to use mobile app. Here you can check balances, transfer funds, pay bills and a deposit a check with Mobile Deposit. You can also access Popmoney® personal payment service. Not sure what all this means? Keep reading. We’ll explain!

Transfers
With online and mobile banking, you can transfer funds between your accounts. Say you saved all your graduation cash in your savings account but need some to buy a textbook or pay for a movie ticket. You can easily and quickly transfer the funds into the account where you need them. It’s easy and a free service.

Account Alerts
Since this is your first time managing money on your own, it’s a good idea to keep a sharp eye on what you’re doing. You can set up account alerts to tell you when your balance falls below a certain amount of money, when your debit card has been used to make a purchase and when a deposit is made to your account among other things. There are nineteen different types of account alerts,  each of which can be sent via text or email free of charge.

Popmoney
Popmoney® personal payment service allows you to securely send and receive money quickly, using just the recipient’s email or mobile phone number and your own VCNB checking or savings account. A lot of our customers use it to pay back friends and family or to send gifts. We also have many parents and grandparents who use it to send money to their college students who are always grateful for the extra cash! There is a fee of .50 per transaction and you can learn more about it here.

Reloadable Card
A Reloadable Mastercard© is a good option for those who do not qualify for a traditional checking or who don’t want one for fear of accidental overdraft. This card is accepted anywhere that takes Mastercard but is loaded for a specific amount of money. Once it’s spent, it’s gone and there is no risk of overdrawing an account. Funds can be directed deposited or be added as you wish. Reloadable cards are great for college students as parents are able to deposit money as needed. You must be 18 years of age to purchase and there is a $5.99 purchase fee and other fees related to reloading and maintaining this card. Click here for complete details including fees.

At VCNB we are excited to see young people venture out on their own and will be glad to help you get started by answering questions and setting you up with VCNB accounts and other products. Give us a call or stop by our office to talk to an experienced account representative today!

 

 

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