8 Ways EQ Bank makes managing finances easy for students

A new school year is in full swing, and you have a lot on your mind. Worrying about your finances? No thanks. Whether you’re pursuing higher education, or have kids who are, we’ve put together some helpful banking hacks to make navigating your finances even easier.

1. Double dipping a chip? Controversial. Double dipping rewards? Smart! Here’s how it works. Let your funds chill out in your EQ Bank Savings Plus Account and use your favourite cash back credit card to make your purchases. When the bill comes, you can pay it easily through your Savings Plus Account, and in the meantime, it’s been earning interest!
   
   
2. Cheques? We haven’t met. Whether you’re awaiting a direct deposit of your student loan, or your paycheque, it’s easy to arrange for direct deposit to your Savings Plus Account. Even better - your direct deposits are generally not subject to hold periods. Talk about fast funds.
   
   
3. We’ve all been there – waiting for the next payday or care package from the parents. In the meantime, if you need to make some extra money, tell your friends about the great banking experience you’re having with EQ Bank, and we’ll pay you for it! (Seriously.)^*
   
   
4. Need a way to send money internationally? We’ve got you covered. With International Money Transfers, you can send funds to your international student (or your family back home) in minutes, and it’ll arrive within three business days, or earlier in some cases.
   
   
5. Joint accounts – they aren’t just for couples anymore. If you have a roommate you’re sharing rent or expenses with, think about opening a joint account with them. It’s an easy way to keep a history of rent and living expenses at your fingertips.
   
   
6. We know, bills are a bummer. But late charges are worse. Automate your bill payments with your Savings Plus Account (did we mention bill payments are free?) and don’t give it another thought!
   
   
7. Staring at a budget spreadsheet isn’t everyone’s idea of a fun Friday evening. (Unless maybe you’re a finance major.) With EQ Bank, you can have up to five accounts, so compartmentalize to your heart’s content! One for rent and food, one for tuition and books, one for extracurricular spending, and one for savings!
   
   
8. If a lump sum scholarship or student loan is keeping you afloat, consider putting the full amount aside in one savings account. Next, automate a bi-weekly “payday” to arrive in your main account. This will help you keep on a budget of sorts without worrying about going over.

Don’t you feel smarter already?

^*Terms and conditions apply