Student in the bank

Half of the students receive monthly income of PLN 2000. In brick-and-mortar and online stores, they spend at least half of this amount per month. They spend the largest part on tuition fees for studies and renting a room or apartment*. Students are also increasingly trying to put money aside in a savings account. Nearly one in five students had accumulated at least PLN 500 at the end of the second quarter of 2024**. Every fourth student regularly uses the additional capabilities of the bank's mobile application. In Bank Millennium, top-ups of prepaid phones and the purchase of public transport tickets are particularly popular. More than half of young people (18-25 years old) already actively use at least three different banking products (account, debit card, savings account, loan, BLIK, etc.). The average student logs into the bank's mobile app twice a day***.

- We are constantly developing the catalogue of our services with young people aged 18-25 in mind. In August, we expanded the capabilities of the Codes and Top-Ups service. We have provided the option to purchase subscriptions to Netflix and Steam as well as Amazon gift cards. This is a very convenient way to make a transaction. It is carried out in a trusted banking application, without providing e-mail addresses, payment card details, etc. Our mobile application has also gained a refreshed design, facilitating ergonomic operation and consistent with market trends. We are convinced that this can be an attractive set of solutions for people who are looking for an easy way to manage their finances during their studies - says Halina Karpińska, Director of the Electronic Banking Department at Bank Millennium.

In addition to public transport tickets, you can also pay in the Bank Millennium app for parking your car. The fee can be adjusted to the actual parking time and extended if necessary in the app. For spending money at selected partners (over 800 stores), you can get cashback, i.e. a refund of part of the amount for purchases. Interesting solutions will also be discovered by people who study abroad or travel. With the Bank Millennium card, they will pay abroad at the exchange rates of payment organisations (Visa, Mastercard) without an additional margin for currency conversion up to PLN 5000. If someone needs to make larger expenses, they can link their debit card to a foreign currency account and pay without currency conversion. Directly in the Bank Millennium mobile application, there is also an exchange office, which allows currency exchange, and the card linked to the foreign currency account is for payments abroad. You can also use currency services when paying by phone (tokenised card on your phone). Students do not incur the costs of maintaining a payment account, and after meeting a simple condition, they will not pay for the servicing of the card to the account, cash withdrawals from ATMs.

For more information visit: www.bankmillennium.pl/en/individuals/current-accounts/konto-millennium-360link otwiera się w nowym oknie.

* "Student's Wallet" – Report by the Warsaw Institute of Banking in cooperation with the Polish Bank Association: www.wib.org.pl/wp-content/uploads/2024/09/Portfel-Studenta-2024-raport.pdflink otwiera się w nowym oknie
** Bank Millennium data for Q2 2024
*** Bank Millennium data for the period: June-August 2024