PrimeAcademia: An easier approach to student banking
PrimeAcademia is a financial platform that streamlines fee collection and payroll management and offers tailored savings and loan services for academic institutions, teachers, students and parents

When I was preparing to go abroad for my master's, the process felt overwhelming right from the start. Between health tests, visa applications, and securing accommodation, I was juggling too many things. But what made it even more stressful were the endless trips to the bank to sort out my student file.
First, I had to provide proof of funds and then the bank solvency certificate. Just when I thought I was done submitting all the necessary documents, I'd get another request for verification of the tuition transfer. I spent hours in line, getting documents signed and ensuring the amounts were in the correct currency.
On top of that, the bank's slow processing meant I had to return several times just to get updates. With deadlines for my visa and university looming, the delays were nerve-wracking. It felt like I was spending more time at the bank than preparing for my studies.
This is a shared challenge for many students going abroad. Banking for academic purposes is often a hassle, as not all banks offer student-friendly services.
PrimeAcademia from Prime Bank streamlines this process by offering all student banking services in one place. It eliminates the need to visit multiple branches for loans, fee payments, savings accounts or salary disbursements.
A key feature is the easy creation of a student file, which is required for visa applications in many countries. The student file services facilitate foreign currency transfers and tuition payments to international institutions. Instead of visiting different institutions to collect paperwork and manage payments, students can handle the entire process through PrimeAcademia.
For students, the platform also offers savings accounts with attractive interest rates of up to 5% per annum, helping students develop sound financial habits early on.
"PrimeAcademia was introduced by Prime Bank to meet the diverse financial needs of educational stakeholders," said Md Nazeem A Choudhury, deputy managing director of Prime Bank PLC.
"Recognizing that academic institutions comprise teachers, students and administrative staff, we saw the need for a tailored banking solution that addresses the requirements of all these groups," he added.
For parents, managing the financial aspects of a child's education can be overwhelming. But PrimeAcademia can make it easier by offering loan and investment options with competitive interest rates. The savings accounts are easy to set up, providing peace of mind as they navigate the costs of higher education.
Not only students and parents but teachers are also given special attention in PrimeAcademia's offerings. They can open savings accounts with interest rates up to 5% per annum and receive added insurance coverage based on their account balances. Additionally, the platform offers loan facilities at preferential rates.
"The demand for efficient fee management, payroll solutions, and specialised financial services for academic institutions, as well as affordable savings and loan options for students, parents and teachers, led us to this solution," Nazeem explained.
"This platform was designed to provide comprehensive financial support, making transactions easier and faster through digital platforms while facilitating the growth of educational institutions across Bangladesh," he added.
Prime Bank is actively offering PrimeAcademia to schools and colleges across Bangladesh to provide these institutions with a comprehensive financial solution. "We are personally visiting schools and colleges nationwide to present the benefits of PrimeAcademia and engage directly with school authorities, teachers, and parents," Nazeem noted.
For academic institutions, PrimeAcademia offers attractive interest-bearing institutional accounts, with a competitive rate of 4% per annum, in addition to payroll banking services. These institutions can also benefit from loan and investment facilities designed to support their growth and development. This can include anything from expanding infrastructure to modernising classroom equipment.
Want to pay PrimeAcademia's fees offline? No problem. Prefer online payments? That's covered too. PrimeAcademia's fee collection service supports both online and offline methods, allowing students and parents to pay through mobile financial services (like bKash, Nagad, and Rocket), credit and debit cards, internet banking or branch counter payments. This flexibility streamlines administrative processes for schools and makes fee payment more convenient for students and parents alike.
PrimeAcademia is currently accessible only to students and teachers of institutions affiliated with Prime Bank. However, the company plans to open it to all academics in the future