For the past few months, I have been writing about various student chequing accounts that the Big Banks have been offered. As you may already know, this series came from the Big Six Student Chequing Account Comparison I wrote in August.
The last student account I will be covering within the Big six is none other than the National Bank of Canada’s (NBC) student account, which is otherwise known as the ClickStudent Program.
I have compiled the account features for the ClickStudent program in the table below:
|National Bank of Canada (NBC)|
|Monthly Fees||$2.75/ month|
|Sending INTERAC e-Transfer||N/A|
|Non-(bank) ABM withdrawals||Exchange - Free
Interac - $1.50/ transaction
Cirrus - $3.00/ transaction
|Account Benefits||Holders of an OVATION Gold MasterCard: 50% discount on the flat monthly fee for the ClickStudent Program.|
|Cheque Image return||N/A|
|Personal Cheques||- 100 cheques at no cost|
*Withdrawals (including ABM), Transfers, Pre-authorized payments, Bill payments, Debit purchases
What makes this account worth having?
As you can see, the ClickStudent Program offers unlimited transactions for a low monthly fee of $2.75/ month.
In al honesty, for what it is, the ClickStudent Program is a good account, also if you are the type of person that needs to use cheques on a regular basis (whether it is for rent, utility bills, etc) then the fact that you can get 100 cheques at no cost is definitely a good thing to have.
What makes NBC stand out from the competition?
NBC’s ClickStudent Program allows cardholders of an OVATION Gold MasterCard to get a 50% discount on the monthly fee for the ClickStudent Program. This means, you would be able to use the ClickStudent Program at $1.375/ month.
Now, although this makes NBC stand out from the competition, it is definitely not in a positive way. If you notice in the table above, “Sending INTERAC e-Transfers” is not applicable here. The reason for that is because NBC does not offer INTERAC e-Transfers.
Personally, not being able to send an INTERAC e-Transfer is a definite deal breaker; the convenience it brings is essential for any student.
That being said, NBC is slowly making its way into the mobile banking game, as they recently launched a mobile banking browser. In fact, an iPhone/ iTouch app is set to launch, and I have been informed that it will likely happen in the new year.
There you have it, NBC’s ClickStudent Program offers a few good features, and can definitely suit some people out there. On that note, personally, I could not use it because of the lack of INTERAC e-Transfers, but that is just me.
What do you think of the NBC ClickStudent Program?