Your Finances are your own Business payday loans Payday loans-about-us page

Banking and Cards Research

Digging into the Customer Experience: Banking and Credit Cards

Corporate Insight’s Bank Monitor, Credit Card Monitor and Small Business Card Monitor provide ongoing coverage of the products, websites and overall customer experience offered by the nation’s leading banks and card issuers. Our value-added banking and credit card research digs deeply to evaluate the retail and small business customer experience.

Student Banking PDF Print E-mail
As students head off to college for the first time, many begin to gain financial independence, opening deposit accounts and learning to manage money on their own. In this Bank Monitor report, we look at the products offered to students, specifically student-oriented deposit accounts, as well as at the dedicated student centers and sections providing college-bound students with various information, resources and tools.

In this edition of Bank Monitor Report, we look at the deposit accounts marketed towards students, and the information and resources offered by the firms on their public sites to help students understand their finances. As we investigated what is currently being offered by each firm, we focused on the following issues:
  • What student-branded deposit accounts are currently available?
  • Is there an easily accessible, dedicated Student Center or section offered?
  • What resources are provided to students about banking and college finances?
Of the 16 banks tracked by Bank Monitor, 10 firms offer student-branded accounts. 72% percent of the firms covered in this report only offer checking accounts geared specifically towards students. The remaining two firms offer bundle packages for students grouping standard checking and savings accounts. No firms currently promote student-branded savings or money market accounts.

Of the firms covered in this report, seven offer a dedicated Student Banking section promoting educational resources and tools, two of which are easily accessible from the main navigational menu. Only one firm offers a Student Center without also offering student-specific deposit accounts.

Additional key findings include:
  • Of the firms covered, 36% offer monthly ATM fee waivers.
  • Of the firms covered, 80% offer fee-free checking; one firm offers no fee if the two monthly transaction requirement is met.
  • Three firms offer a multi-purpose campus card, partnering with a number of different colleges, providing a combination student ID and banking card.
  • Of the firms covered, 80% offer student-related educational materials.
 
Copyright © 2013 Corporate Insight. All Rights Reserved.