Managing money as a student can be a difficult task and debit cards will either help or hinder the process.

While all debit cards offer access to funds in your own bank accounts, the features and conditions for each card will vary depending on the issuing bank or credit union, which is why it is important to consider different debit card options before choosing one as a student.

As well as features that will help students save money on card fees, there are also those that will make accessing money even more convenient so here we look at the best features for students searching for a good debit card.

ATM Networks

Since ATM charges became so expensive when using non-bank options, it has become even more important to consider a card’s ATM network. Most banks now have partnerships to help cut down on fees, like Westpac and St George, which allow customers from either to access their money freely when using one of these ATMs.

Some issuers, particularly smaller banks or credit unions, may not have a widespread network, which means you will often be charged when getting cash from an ATM.

Another thing to consider is the campus facilities and whether or not there will be ATMs part of a card’s network.

MasterCard Or Visa

Most students will already have a bank account that provides a basic bank-issued debit card, but for more flexibility a MasterCard or Visa debit card is something to consider.

Not only will this option allow cardholders to make purchases over the phone or online, it will also give them the choice between signing for a purchase or entering a PIN.

Unlimited Transactions

Debit cards that offer unlimited free transactions, like the St George Complete Freedom Student Card or HSBC Day To Day accounts, give students more access to their money without the concern of keeping track of card use.

Not all debit cards offer unlimited free transactions, so it is a good idea to look at what the card’s conditions of use are and any charges that could be applied if you reach your monthly transaction limits.

Waived Fees

To help cut down on financial expenses, so banks will waive the monthly debit card fees if you are a student.

Students with an ANZ Access Advantage account, for example, will not have to pay the $5 monthly fee once they have shown proof of study, which means they will save $60 over the year.

Most banks now offer discounts or no fees for eligible students, so it is always good to check what will be available for you before making any decisions.

That way you will get the best debit card deal whether you stick with a current issuer or make a switch.