Seattle University has signed a three-year contract with US Bank to provide banking services free of charge to its students, according to The Spectator.
The deal will add debit card functionality to university’s campus identification cards, and the university has also agreed to allow US Bank representatives to come onto campus to perform informational financial seminars.
Other benefits for students include four free non-US Bank transactions a month, one waved overdraft fee, free replacement of lost or stolen Seattle University ID cards and personalized email or text notifications.
Participation in the program is completely optional. Students will not be required to convert their ID cards or attend US Bank seminars.
US Bank also agreed to cover the cost of upgrading card readers on campus via a $25,000 signing incentive – card readers that can read both the old card and identify the new ones.
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