If you are in a college or preparing to go to a college, you may consider opening a checking account to help manage your money effectively. The following five checking accounts are recommended for you.
U.S. Bank Student Checking
With the U.S. Bank Student Checking account, you can get your first order of checks free. You will need $25 to open an account as the minimum deposit. A free Visa debit card will be available for shopping. The first 4 non-U.S. Bank ATMs transaction fees can be reimbursed per monthly statement period. No ATM fees nor monthly service fees are required. The checking account doesn’t accumulate interest. No minimum balance is required. The biggest advantage is that you can get free access to more than 5,300 U.S. Bank ATMs plus over 3,000 branches. One thing to caution: if you select an overdraft coverage and do overdraft, the bank will pay your transaction and charge you $36 for each item over $5.
Chase College Checking Account
Chase will offer you $100 dollars as you open a Chase College Checking account and complete 10 qualifying transactions within 60 days. If you are a student aged 17 to 24, you can get the maintenance fees waived for up to 5 years. If not, you will be charged $6 monthly. For ATM fees, $2.50 will be charged for using a non-Chase ATM in the U.S. and $5 outside the U.S. No fees for Chase ATMs. You can also receive a debit card with access to 16,000 ATMs and 5,100 branches and enjoy mobile banking via an app. $25 will be needed for opening an account. No interest rate is accumulated. This account has no minimum balance.
PNC Virtual Wallet Student Banking
If you have proof of active student status for 6 years, monthly service will be waived. With a free PNC Bank Visa debit card, you can get free access to 9,000 PNC Bank ATMs. No minimum balance is required. Besides, PNC can refund your first overdraft in the first 12 months after you open the account. The unique feature of PNC is that it allows you to get 3 accounts in 1 checking. 2 non-PNC Bank ATM transaction fees can be reimbursed per monthly cycle. Notice that PNC is only a good choice if it has bank branches near your college.
Capital One 360 Checking
This account provides 0.1% to 1% APY with no minimum balance. In addition, you do not have to pay ATM fees and monthly service fees. Although Capital One 360 Checking is not a traditional student checking account designed merely for college students, it is still an excellent choice for students. You can get access to your money at more than 39,000 ATMs nationwide and enjoy flexible overdraft options. The defect is that it is an online-only account, and you have to manage all the banking either online or in the app.
Ally Interest Checking
Strictly speaking, Ally Interest Checking is not a student checking account, yet it is still a great option for students with no minimums and monthly maintenance fees required. Besides, it offers a decent yield with 0.10% APY on balances under $15,000 and 0.50% APY above $15,000. Free access to about 40,000 Allpoint ATMs in the U.S. plus no international transaction fees give you another reason for choosing it. Notice that Ally Interest Checking is also internet only.