Who is the best bank coaching
Current account for students ~ Our top 5 in comparison (also for semesters abroad)
Pretty much everyone needs their own sooner or laterchecking account. The banks know that too and are vying for potential customers for all they can. Every means is right. If in doubt, also empty promises and half-truths. Leaving out information can also bring new customers to the bank. How are you supposed to know which account or even which bank best suits you and your needs? We present the top 5 current accounts for students with the most important information for you:
How to find the right checking account for you
It is obvious to orientate yourself towards friends, acquaintances and family and to set up your first own account where you have yours. But not infrequently you will notice that this account does not quite fit you. It's not surprising either. The people you orientate yourself on often have a completely different lifestyle than you (working vs. training) and therefore have different needs.
So what are you doing Either stay with the bank or switch. Many house banks want to have money for the checking account. But there are often free accounts for students. So if you don't want to change, then at least let it continue to run for free 🙂 But there is still no credit card or it costs money again, so just change!
Should you switch, don't make the same mistakes as me:
I have tortured myself through many banks (five so far and the sixth will be added soon) and had to gather a lot of experience in order to come to this conclusion. I would like to save you this effort, so here are my tips for you. And yes, I tormented myself through the counseling monsters and the long queues on the phone or the long queues at the ATM. And first of all the annoyance that you can only make transfers to the terminals in your hometown.
What you should pay attention to when choosing your current account:
How often do you go to the branch and what for?
On the one hand, you should answer whether you need a branch that you would like to visit and talk to a customer advisor, or whether you would also like to do it by phone and it is not important to you to look someone in the eye. Please be honest with yourself here. This I could use it at some point, but I won't does not count here. Keep in mind that the people in the branches usually have a 9 to 5 job just like you. If you have a problem on Sunday evening, probably no branch employee will help you. And you don't need a bank counter to withdraw money.
I used it 2 times myself and it didn't really help me. I could have gotten my information by phone and I wouldn't have been talked into something. I also don't mind filling out online forms.
Do you often deposit money? If so, a branch bank might make sense for you. However, if you rarely make deposits, you should consider whether, for example, your parents could also do this via their account and they would transfer the money to you. But honestly, who still uses cash these days? And even if, for whatever reason, I got a slightly larger amount of cash, I would just keep the money at home until it is used up.
What are the account management fees?
Do you want to pay for your bank account? Probably not. Fortunately, students usually don't have to either. But after graduation it often becomes very expensive. Many branch banks charge between 5 and 10 euros per month. And after graduation you are busy with other things than changing your bank account. Apart from that, the student tariff is age-restricted at some banks.
What interest is there for what?
As a rule, it is not particularly difficult to get an overdraft facility on the account. Whether you need it or not is an open question. If you can handle it, it sure is a good thing. What you should pay attention to in any case is the amount of the debit interest, i.e. the interest that you pay on your bank debt.
It can always happen that all else fails and you get your income (student loan, salary, etc.) later than expected, the washing machine breaks or whatever. In this case, it's good to know that you can temporarily overdraw the account a little. But the fees that have to be paid for this can vary greatly from bank to bank. So even if you mean that you don't want to get into debt or have an overdraft facility, there is still nothing wrong with choosing a bank with a low interest rate. A good interest rate is 7-8%, an unfair one is over 11%.
There are also banks, albeit only a few, that will give you interest on your credit balance. So you don't just pay for debts, you also get something for your money. As a student, it may not be so relevant because you don't have much that could bring you big interest income, but don't forget that every degree comes to an end at some point and don't we all want to generate a lot of income afterwards?
What does the credit card cost?
Maybe you will now say “I don't need a credit card!” It's ok, not everyone needs one. Especially not if you've just got out of school and maybe still live with your parents. But as I said, every study ends at some point and maybe you want one then? It would be stupid if it costs a fortune or you have to open additional accounts somewhere else for it, right?
Also, do you want to go abroad and go on vacation in the foreseeable future? Or maybe how we go to the semester abroad? How do you pay on site? How do you get money abroad? Travelers checks are totally out of date and are not accepted everywhere and you probably don't want to carry a suitcase full of money with you. A credit card costs around € 40 a year. But some banks offer this for free to the checking account.
What other advantages can an account with this bank offer me?
Some banks and credit card providers cooperate with partners and thus grant further advantages such as discounts, bonuses, points, airline miles, etc. See if there is something for you that you can benefit from.
The best checking accounts for students
We took the trouble and picked out the best deals for you. We have already had experience with all five and I can recommend them all without reservation. The best thing about it: With the current new customer campaigns, you not only get a permanently free current account with credit card, but also a free starting credit.
Tomorrow: The sustainable current account for students who don't just want to do something for the environment on Fridays
Tomorrow is the equivalent of #fridaysforfuture among the banks. It not only offers you a free current account with a credit card (which of course costs nothing), but also the opportunity to leave a positive footprint in terms of sustainability. With every card payment you protect the rainforest. To be precise, 1 square meter per euro that you spend on their credit card. As an alternative to the free current account, Tomorrow also offers you the option of offsetting 11.3 tons of CO2 per year for a monthly fee of 15 euros so that you can live neutrally. You can switch back to the free current account at any time without notice. The account is opened within a few minutes using the Tomorrow app, which can also be used to manage the current account and Visa debit card.
- No account management fee
- Free Visa Debit Card
- Account opening completely digitally within a few minutes
- Three free cash withdrawals per month, but who needs cash when you can conveniently pay almost anywhere with your smartphone or even your watch? Especially when you can contribute to the protection of the rainforest with every card payment
- Free payments abroad
- Account and card management conveniently at any time via the app
- Donate to environmental protection projects with every card payment
- Overview of the personal contribution to environmental protection in the Impact Board in real time
- Notification by push message for every transaction
ING Diba: The best current account in the euro currency area!
- free of charge regardless of your income, professional status or age
- free visa card
- free cash withdrawals in the euro area
- Service available 24/7 and helpful
- Online banking including smartphone app
The VISA card is like an EC card. This means that you can use it to withdraw cash free of charge throughout € No matter which bank and which ATM. The main thing is that the machine accepts Visa. I haven't seen a machine in the past seven years that doesn't. As with the EC card, the money is debited directly from the current account. No monthly billing and therefore no nasty surprises.
Another small note that is of interest to you when you travel outside the EU is that at DiBa, as with most other banks, you have to pay fees if you withdraw currencies other than € from ATMs. If you go shopping outside the € room, you have to pay foreign transaction fees. With a value of 100 €, these are 1.75 € fees.
I have been a customer of ING Diba for 14 years and have never been disappointed. Not even on my 3rd call on Sunday night when I forgot my PIN again.
ICS ~ Visa World Card
- Permanently free Visa card
- no new current account required
- Withdraw cash free of charge anywhere in the world
Ideal for your semester abroad or long-distance travel, if you already have a current account with which you are satisfied and are only looking for a reliable means of payment abroad. With the Visa World Card you get a real credit card with monthly billing, you get a bill once a month and the money is then withdrawn from your usual checking account. In order not to lose the overview, you can view your current sales online at any time.
DKB ~ free of charge worldwide in the 1st year
- permanent free account with free credit card
- Withdraw money free of charge anywhere in the world and pay for free abroad **
- Mobile payments: Apple Pay and Google Pay
- 0.01% p.a. credit interest up to 100,000 euros on the DKB VISA card, thereafter 0.00% p.a.
In order to have two free credit cards abroad, I got the DKB Visa. The conditions are almost identical to the DiBa, only the costs for use on non-€ machines are eliminated and there is a small fee for your credit of 0.2%. Purchases made with a credit card are also charged with 1.75% foreign transaction fees (not € space) if you are not an “active customer”. When withdrawing cash abroad, however, it is important to ensure that the machine does not display / charge any fees, as these are no longer reimbursed by the DKB. Another disadvantage of the DKB is that the credit card is not directly linked to the checking account, but instead you have to transfer money from the checking account to the card every time so that it can be used. That's why I prefer ING Diba in everyday life.
- Free account management - with no minimum incoming payments
- Free girocard and Visa card
- Withdraw cash free of charge worldwide
Current accounts for students - the comparison calculator
I hope that I have helped you and I wish you a lot of fun with what I consider to be a “better bank”. Should you still be our one, which account offers the most advantages for you, use our free current account comparison, which you can easily adapt to your needs:
What do you think?
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