What happens to my Student Bank Account after I have passed out of the College or University?
Status of Your Student Chequing Account After Passing Out of College
Once you attain graduation, your bank typically switches your student chequing account to a regular chequing account. The bank will offer you features on the new account according to the kind of transactions you’ve been making during your student days. For instance, if you’ve been using more debit transactions and email money transfers, your bank may switch you to an account that carries unlimited debit transactions.
However, there is always a possibility that your banking needs change once you pass out of college and the features offered are no longer suitable. If you think that you could be paying higher fees for facilities that you no longer use, you may want to get in touch with your bank before it makes the switch and chooses an account that has the features that you now need.
All major banks in Canada offer student bank accounts, which have specific services and facilities. Banks see this as an opportunity to improve their client base and ‘catch them young’. Opening and maintaining the account is a simple process in Canada. The savings account fetches a higher interest rate than other account types.
Winter is fast approaching. With it, retirees and those who can work from anywhere in the world are eyeing the cost of health insurance. Travel Medical Insurance is underwritten by TD Life Insurance Company. It has been created specifically for TD Canada Trust...
In 2017, a new Canadian mortgage law specified that every Canadian who was applying for an unsecured mortgage at a federally regulated financial institution had to pass a mortgage stress test. Even a hefty down payment was not a sufficient reason for waiving the test....