How To Become a Banker for Free

There are many different professions in the banking industry, from financial advisors to personal bankers. If you'd like to find a job working in a bank, you may be wondering how to get started. Do you need to pay for expensive training programs or college degrees? Or can you become a banker for free?

Though some bank jobs require a bachelor's degree or higher, many career paths in the industry don't. You can pursue a career as a banker field by taking free online courses or certificates, pursuing entry-level jobs, or getting financial aid or tuition assistance to help you pay for paid training programs you complete.

Read on for further information about financial aid options and free courses to become a banker for free.

Tips For Becoming a Banker with Little to No Cost

If you're ready to start your financial services career, you can use various methods to get started for free, or almost free. Consider the following options we've listed below.

1. Take Free and Low-Cost Online Banking Courses

Free and low-cost courses are available through many U.S. platforms and international sources. These courses are commonly available online in a self-paced format, making it easy to gain important financial skills on your own time. Free online bank teller courses can prepare you for a role at a bank. Let's look at some top free online banking courses you can complete.

Alison's Fundamentals of Credit Management Course

Alison, an open-source learning community, provides a wide range of free courses and certifications on many different subjects. One of these courses is called Fundamentals of Credit Management.

This introductory course covers various credit management topics including good lending principles, different types of loans, and how to analyze financial statements. This short course requires just one and a half to three hours of self-paced study time.

Alison's Fraud Detection and Prevention Course

Another course available through Alison is Fraud Detection and Prevention. This course can also be completed in just an hour and a half.

This course discusses the threats that fraud poses to society and why fraud detection and prevention are important. Learners will also discover top ways of preventing and mitigating fraud.

Udemy's Banking Credit Analysis Process Course

Udemy is another learning community for those interested in taking free and low-cost courses on various subjects. It offers a course called Banking Credit Analysis Process.

For a nominal fee, students gain lifetime access to more than 40 hours of video lectures and other online resources. The course helps current and future bankers understand credit analysis to make informed decisions about project financing, working capital, and other lending topics.

2. Pursue Free and Low-Cost Online Banking Certificates

Most free online courses offer optional certificates when you complete the course. Some of these are available for free, while others require a small fee to receive the certification. Let's look at some online courses that provide free or low-cost certificates at the end of the course.

Alison's Intro to Retail Banking Certificate

All of Alison's courses provide the opportunity to earn a free certificate. To earn this certificate, you must score an 80% or better on all course assessments.

The Introduction to Retail Banking course offers free certification. This entry-level course covers various topics, from opening a bank account to risk management techniques and banking mathematics.

UIUC's Banking and Financial Institutions Certificate

The University of Illinois at Urbana-Champaign (UIUC) offers many open-source online courses, some through their website and some through third-party platforms like Coursera. The school's Banking and Financial Institutions course and certificate are completed through Coursera.

This intermediate course takes about 15 hours to complete. It covers many topics relative to the organization, structure, and regulation of banks. This includes the financial system, services banks offer, and finance innovations (i.e., cryptocurrency and fintech).

UIUC's Financial Management Certificate

Also available through UIUC, this financial management certificate is a graduate certificate consisting of 12 credit hours of coursework. Students who enroll in this program must hold a bachelor's degree.

This program teaches students strategic thinking and decision-making skills so they can understand how to analyze financial statements. Students also learn about making investment decisions and the various risks and benefits involved.

3. Find Entry-Level Banking Jobs

To help you get your foot in the door, consider applying for entry-level banking jobs. The following options require only a high school diploma or GED and can provide excellent opportunities to get started in the banking industry:

Bank Teller

Bank tellers are the face of many financial institutions, as they interact with most customers daily. Some of their duties include handling withdrawals and deposits, issuing cashier's checks and money orders, and helping new customers open accounts.

Loan Processor

Loan processors are in charge of handling financial data relative to loan applications. They perform many duties to assist loan officers, including gathering relevant data, evaluating credit histories, reviewing financial documents, and correcting mistakes.

Bank Associate

Bank associates are responsible for selling banking products to clients. These professionals are known as either investment bankers or commercial banking associates. Investment bankers sell products specifically related to investing to investors, serving as liaisons between financial analysts and executives. Meanwhile, commercial banking associates sell various products to new and existing customers.

4. Seek Employer Tuition Reimbursement

If you decide a degree program is the right path for you, ask your employer if they offer tuition assistance programs. If so, your employer may be willing to cover some or all of your college costs.

Whether pursuing a bachelor's or master's degree, employer tuition assistance or reimbursement can make it much easier to afford your education. This can help you reach your career goals without negatively impacting your financial goals.

5. Enroll in Community College Programs

Community colleges often offer associate degrees and certificates in business administration, financial analysis, and related fields in the financial industry. Pursuing one of these short-term programs can provide skills leading to many career paths while saving money.

Not only are community college programs shorter than those offered at four-year schools, but they also typically charge lower tuition rates. In other words, you can earn credentials in your chosen specialization more quickly and at a lower price tag, diminishing your overall investment and helping you enter a career faster.

6. Fill out the FAFSA

The FAFSA is the Free Application for Federal Student Aid. This form helps students apply for financial aid from state and federal government programs.

Some of the many types of aid you could receive include grants, loans, and work-study opportunities. Using these funds, you can pursue an education that allows you to enter fields like investment banking, corporate finance, real estate, business management, and many other financial career paths.

7. Network With Banking Professionals

Your professional network can be an invaluable resource. Those in your network can help you learn about opportunities to gain work experience through internships or other hands-on training programs.

Your professional connections may even help you access job opportunities you wouldn't have known about otherwise. Knowing others in the banking field can help you improve your skills and land your first job more quickly.