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bank of america student benefits

America First Credit Union offers savings & checking accounts, mortgages, auto loans, online banking, Visa products, financial tools, business services. Explore the different banking options for international students, Explore different credit card options to make payments and benefit from building a. A smart start for students · No monthly maintenance fee for Students under 25 · No overdraft fees - helps keep you from spending more than you have · Checkless.

Bank of america student benefits -

Student Checking & Other Services

TD makes banking simple with flexible student checking and savings accounts, mobile banking and plenty of information on how to keep your financial future on the right track.

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No minimum balance, no monthly fees

Are you a student or young adult ages 17 through 23? Get great student perks from TD Convenience CheckingSM, like no minimum balance requirements and no monthly maintenance fees.1 Plus, pay no monthly maintenance fee on a linked Simple Savings account if you're under 2

If you're under 18, visit a TD Bank store near you with a parent or legal guardian.

View account details

No minimum balance, no monthly fees

Are you a student or young adult ages 17 through 23? Get great student perks from TD Convenience CheckingSM, like no minimum balance requirements and no monthly maintenance fees.1 Plus, pay no monthly maintenance fee on a linked Simple Savings account if you're under 2

If you're under 18, visit a TD Bank store near you with a parent or legal guardian.

View account details

Qualifying Visa® Debit Card purchases are transactions made using a TD Visa® Debit Card to buy goods and services. Returns, other adjustments and ATM withdrawals do not qualify.

For students: take your bank with you, wherever you go

  • Mobile Banking lets you keep track of your account, pay bills and deposit checks from your smartphone or tablet with TD Bank Mobile Deposit.3 It doesn't get more convenient than that
  • Digital Wallet lets you load your TD Bank Visa® Card to your smartphone and tap to make easy, fast payments
  • Online Banking helps you view your balance, make transfers, pay bills and more—all at the click of a mouse
  • Send Money with Zelle® is an easy and free way to split expenses, receive payments or send money fast with your TD Bank account4
  • Contactless debit cards are a fast, safe and hassle-free way to pay. Plus, we've got your back with 24/7 fraud alerts
  • Overdraft Protection waives savings overdraft fees on transfers5

TD tools for parents with students

View the TD Convenience CheckingSM Account Guide.

1TD Convenience CheckingSM monthly maintenance fee waived if the Primary account holder's is 17 through 23 years of age. Upon the primary account holder's 24th birthday the account will be subject to the monthly maintenance fee unless the minimum daily balance is maintained.

2We will waive the monthly maintenance fee on one eligible TD Simple Savings account for eligible Customers upon Customer request for primary account holders who are 17 to 23 years of age. The monthly maintenance fee waiver expires upon the primary account holder's 24th birthday. We will automatically begin to assess the monthly maintenance fee as of the primary account holder's 24th birthday.

3TD Bank Mobile Deposit is available to Customers with an active checking, savings or money market account and using a supported, internet-enabled iOS or Android device with a camera. Other restrictions may apply. Please refer to the Mobile Deposit Addendum.

4Send Money with Zelle® is available for most personal checking and money market accounts. To use Send Money with Zelle® you must have an Online Banking profile with a U.S. address, a unique U.S. mobile phone number and an active unique e-mail address. Your eligible personal deposit account must be active and enabled for ACH transactions and Online Banking transfers. Message and data rates may apply, check with your wireless carrier.

U.S. checking or savings account required to use Zelle®. Transactions between enrolled users typically occur in minutes. Transaction limitations apply.

Zelle and the Zelle related marks are wholly owned by Early Warning Services, LLC and are used herein under license.

5Please refer to TD Bank Overdraft Protection and Services for information on available overdraft options.

6By clicking on this link you are leaving our website and entering a third-party website over which we have no control.

Third party sites may have different Privacy and Security policies than TD Bank US Holding Company. You should review the Privacy and Security policies of any third party website before you provide personal or confidential information.

View the TD Convenience CheckingSM Account Guide.

*Offer valid June 1, through October 29, and is only available when opened during the timeframe notated and through a qualifying website or in a TD Bank Store. Checking offer is not available to existing TD Bank checking Customers, prior Customers who have had a TD Bank personal checking relationship within the preceding 12 months, or to Customers who received a bonus on a previous checking account at any time. The primary owner of the new personal checking account must be the person who supplies a Social Security Number for tax reporting purposes. To qualify for the $ Bonus, eligible new personal checking customers must open a TD Convenience CheckingSM and complete 15 qualifying Visa® Debit Card purchases within 60 days of account opening. Qualifying Visa® Debit Card purchases are transactions that are made using a TD Visa® Debit Card to buy goods and services. Returns, other adjustments and ATM withdrawals do not qualify. Net qualifying purchases are determined in the sole discretion of TD Bank and must post to the new account within 60 days of account opening. Once the offer criterion is met for all qualifications outlined, the bonus will be credited into the new personal checking account no later than days from the account opening date. Accounts must remain open, active, in good standing, and in a qualifying product type in order to receive the bonus. If the checking account is closed by the Customer or TD Bank within 6 months after the account opening date, TD Bank reserves the right to deduct the bonus amount from that account at closing. TD Bank may issue you an IRS Form MISC, or other appropriate forms reporting the value of the bonus. Offer may be withdrawn at any time and is subject to change. TD Bank Employees, existing TD Bank checking Customers and Canadian Cross-Border banking Customers are not eligible.

1TD Convenience CheckingSM monthly maintenance fee waived if the Primary account holder is 17 through 23 years of age. Upon the primary account holder's 24th birthday the account will be subject to the monthly maintenance fee unless the minimum daily balance is maintained.

2We will waive the monthly maintenance fee on one eligible TD Simple Savings account for eligible Customers upon Customer request for primary account holders who are 17 to 23 years of age. The monthly maintenance fee waiver expires upon the primary account holder's 24th birthday. We will automatically begin to assess the monthly maintenance fee as of the primary account holder's 24th birthday.

3TD Bank Mobile Deposit is available to Customers with an active checking, savings or money market account and using a supported, internet-enabled iOS or Android device with a camera. Other restrictions may apply. Please refer to the Mobile Deposit Addendum.

4Send Money with Zelle® is available for most personal checking and money market accounts. To use Send Money with Zelle® you must have an Online Banking profile with a U.S. address, a unique U.S. mobile phone number and an active unique e-mail address. Your eligible personal deposit account must be active and enabled for ACH transactions and Online Banking transfers. Message and data rates may apply, check with your wireless carrier.

U.S. checking or savings account required to use Zelle®. Transactions between enrolled users typically occur in minutes. Transaction limitations apply.

Zelle and the Zelle related marks are wholly owned by Early Warning Services, LLC and are used herein under license.

5Please refer to TD Bank Overdraft Protection and Services for information on available overdraft options.

6By clicking on this link you are leaving our website and entering a third-party website over which we have no control.

Third party sites may have different Privacy and Security policies than TD Bank US Holding Company. You should review the Privacy and Security policies of any third party website before you provide personal or confidential information.

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Источник: mynewextsetup.us

Geared toward students ages 23 and younger, the BB&T Student Checking Account has some useful features overall (see below), but what makes it shine in this category is the U by BB&T mobile app.

State-of-the-art and easy-to-use, the app allows you to customize your dashboard with whatever is most important to you, from checking your credit score to paying bills. You also can set savings and spending goals, pay friends with Zelle, store and attach receipts, and even connect with a personal banker, all from your phone. The app currently ranks # in Finance apps on the iTunes App Store with stars, and has a user rating on Google Play.

With no minimum deposit, no monthly fee, no direct deposit requirements, it's inexpensive to keep your funds in this account. Also, BB&T waives the fee associated with non-BB&T ATM transactions two times per statement cycle, although you will not be reimbursed for the other bank's fee. Though the account is fee-free, overdraft fees tend to be high, although you can opt-out of Overdraft Review to avoid them.

Unfortunately, BB&T is currently available in only 15 states: Alabama, Florida, Georgia, Indiana, Kentucky, Maryland, New Jersey, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, West Virginia, and the District of Columbia. However, BB&T has recently merged with SunTrust—the new entity is named Truist—which will expand its geographic footprint.

Pros
  • No direct deposit requirements

  • Non-BB&T ATM fees waived twice per month

Cons
  • Confusing overdraft protection options

  • $36 overdraft fee, which can be charged 6 times per day

  • Only available in 15 states and the District of Columbia

Other important information:

  • Minimum deposit: $0 
  • Interest: None
  • Fees:
  • Monthly Fees: $0 
  • Overdraft Fee: $36 per overdraft, for a maximum of $ per day. You may opt out of Overdraft Review, which means your transaction will be declined, and you will not pay the $36 fee. If your account is overdrawn by $5 or less, BB&T will waive any overdraft fees. You may also sign up for Overdraft Protection, which requires you to link an account to cover overdrafts, but you will pay a $ overdraft transfer fee per transfer. BB&T will waive the overdraft transfer fee for any transfer amounts under $5.
  • ATM Fee: $ for Non-BB&T ATM transactions. This fee is waived twice per statement cycle
  • Accessibility:
  • More than 1, branches in 15 states and the District of Columbia
  • More than 2, ATMs nationwide
Источник: mynewextsetup.us

Application process and requirements

To apply for an account, you need to visit a Bank of America financial center.

You must be living in the U.S. in order to open an account and you'll need to provide both your foreign and your U.S. address.*

Home or permanent residence address

This must include building name or number and street name, city or town, state or province, country.

U.S. physical address

Only one of the following documents is needed

  • Government-issued ID with photo
  • Student ID with address and photo
  • Current utility bill with your name and address
  • Other (rental agreement, etc.)

*A post office box or locally known mail drop location (such as Mail Boxes) is not an acceptable U.S. physical address.


You will need two forms of identification.

Primary ID

Only one of the following documents is needed

  • Foreign passport with or without passport visa (with photo)
  • U.S. Non Immigrant visa and Border Crossing Card-DSP (with photo)
  • Mexican, Guatemalan, Dominican, Colombian Consular ID (with photo)
  • Canadian Citizenship Certificate Card (with photo)

Secondary ID

Only one of the following documents is needed

  • Foreign driver's license with photo or U.S. driver's license
  • U.S. student ID validated for current term or school year (with photo)
  • Debit or major credit card with Visa® or Mastercard® logo
  • Major retail credit card from a nationally well-known company
  • U.S. Department of State Diplomat ID
  • Mexican Voter Registration Card (with photo)

Foreign Tax Identification Number (FTIN)

An FTIN issued by a country other than the U.S. A U.S. TIN/ITN is not required unless you’ve been issued one.

Pick a time and location that’s convenient for you.

Your safety comes first, which is why we have taken multiple steps to minimize health risks — like enhanced cleaning, plastic screens and distance markers. Don't forget your mask; we'll be wearing ours. Learn more about visiting our financial centers during this time.

Schedule an appointment

Once everything is in order, you’ll be able to start enjoying conveniences like the Mobile Banking app1, debit card and digital wallets – designed to help manage your finances and pay for items easily.

If you're a non-resident alien, you must apply in person at one of our financial centers to open your account.

  • You're looking to open a Bank of America Advantage SafeBalance Banking® account
  • You are not a U.S. citizen
  • You have a physical U.S. residential address
  • You are not a permanent resident of the U.S. 

You must be living in the U.S. to open your account. You'll need to provide both a foreign and U.S. address, as well as two forms of ID and a tax identification number.

See what you'll need

Once you have all your information collected and ready, find a time to see us.

Your safety comes first, which is why we have taken multiple steps to minimize health risks — like enhanced cleaning, plastic screens and distance markers. Don't forget your mask; we'll be wearing ours. Learn more about visiting our financial centers during this time.

Schedule an appointment

Bank of America Advantage SafeBalance Banking®
is a great choice for students

A monthly maintenance
fee waiver2

Are an owner of this account under age 25 and qualify as a Student.

Just for you

Sole ownership can start as early as age 16 for students with a valid U.S. visa and physical U.S. address.

Where you need us

We have thousands of physical locations if you need assistance or just an ATM.

Make your financial journey here a little easier

Guidance, tools, calculators; it's all a part of banking with us.

Better Money Habits

International student? Why you should open a U.S. bank account

Learn how opening a U.S. bank account can help you save money and make it easier to manage your finances. Read more

Better Money Habits

International students: set yourself up for U.S. banking success

Having a domestic bank account up and running can make for a smoother adjustment to university. Read more

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Today's exchange rate

Our foreign exchange calculator can help you find out how much your currency is worth in U.S. dollars. Try it

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Effective February 18, the student waiver will no longer be available to be applied to an Advantage Plus account. For Advantage Plus accounts with a Student waiver applied prior to February 18, this monthly maintenance fee waiver will apply until the Student turns 25, ceases to be an owner of the account, or notifies us that they are no longer enrolled in school or an educational or vocational program.

Better Money Habits, Bank of America and the Bank of America logo are registered trademarks of Bank of America Corporation

Источник: mynewextsetup.us

11 Best College Student Checking Accounts in

If you’re a student (or parent) looking for a place to park your money without excessive fees or unrealistic balance requirements, check out the impressive array of low-cost, low-balance checking accounts available to students.

Some actively restrict membership to younger individuals, most often those between 17 and 23 or 24 years old. But others are not restricted based on age or student status — meaning you can hold onto them as long as you wish after graduating.

Best Student Checking Accounts for College Students

These are among the best FDIC-insured student checking accounts for U.S. bank and credit union account holders.

Most have low minimum deposit requirements and an impressive array of mobile-friendly capabilities, such as bill pay and peer-to-peer (P2P) transfer apps.


1. Bank of America Advantage Banking &#; $ Bonus Offer

No monthly maintenance fee for Students under 25 enrolled in school or an educational or vocational program on select accounts

Bofa New Logo 7 22 20 x82

Bank of America Advantage Banking is a checking account with three settings: Advantage SafeBalance, Advantage Plus, and Advantage Relationship.

Pick the one that works for you right now, and if your life changes — say, you graduate from college and land a decent-paying job — you can switch to another setting that fits the new you.

With no monthly maintenance fee for Students under 25 enrolled in school
or an educational or vocational program, Advantage SafeBalance and Advantage Plus are the best choices for college students.

Effective February 18, the student waiver will no longer be available to be applied to an Advantage Plus account.

For Advantage Plus accounts with a Student waiver applied prior to February 18, this monthly maintenance fee waiver will apply until the Student turns 25, ceases to be an owner of the account, or notifies us that they are no longer enrolled in school or an educational or vocational program.

See offer page for more details.

All Bank of America Advantage Banking settings include:

  • Easy, Anytime Access. Visit Bank of America at thousands of financial centers and ATMs.
  • 24/7 Security. Total Security Protection® and fraud monitoring. Safer sign-in, card locking features, and more.
  • Convenient Ways to Pay. Use your debit card or digital wallet.
  • Smart Money Management Tools. Set custom alerts and savings goals. Get cash-back deals and rewards customized for you.
  • Unauthorized Transactions. Bank of America&#;s $0 Liability Guarantee means you’re not liable for unauthorized transactions made using your consumer debit card, as long as you report them promptly.
  • Debit Card Controls. Lock a misplaced card quickly and easily to prevent unauthorized use.
  • Custom Alerts. Know now and react fast to important account changes. You can set custom alerts via email or text for things like a low balance, pending deposit, and upcoming bills.

Plus, Advantage SafeBalance charges no monthly maintenance fee for Students under 25 enrolled in school or an educational or vocational program.

For others, the monthly maintenance fee is waived in any statement cycle during which the account holder is enrolled in Bank of America’s Preferred Rewards program.

Bank of America, N.A. member FDIC.

Apply Now


2. TD Convenience Checking

Earn a $ Account Opening Bonus With Qualifying Activities

td bank

TD Convenience Checkingis the best choice for students who meet two fairly common criteria: They want the convenience of robust mobile banking and the security offered by widespread branch and ATM access in a single package.

Unfortunately, they must also be based (or attend school) in the Northeastern U.S., where most TD Bank branches are.

Incidentally, with thousands of fee-free ATMs in Canada, TD Convenience Checking is suitable for U.S. students studying abroad there (or close enough to the border to visit regularly).

  • Account Opening Bonus: Open your account and receive direct deposits totaling $ or more within 60 days to earn a $ bonus.
  • Yield: None.
  • Minimum Deposit and Balance Requirements: There’s no minimum deposit requirement and no ongoing balance requirement for full-time students under age
  • Rewards and Incentives: Enjoy no ATM fees at thousands of ATMs in the U.S. and Canada. Plus, pay no monthly maintenance fee on a linked TD Simple Savings account. The monthly maintenance fee is waived with a balance of $ or more. TD Bank has some nice annual-fee-free credit card options too.

Learn More


3. Chase College Checking

Earn a $ Account Opening Bonus With Qualifying Activities

Chase Bank Logo

TheChase College Checking account is a fantastic choice for students ready to manage their money without help from their parents.

Designed for students between 17 and 24 years of age, it waives monthly maintenance fees (or monthly service fees, typically $6 per month) for college students up to five consecutive years.

Convenient value-added features include the user-friendly Chase Mobile app, which pretty much eliminates the need to visit a branch, and instant P2P money transfers with Zelle.

And account holders never pay maintenance fees on linked Chase Savings accounts.

  • Account Opening Bonus: New Chase customers may qualify for a $ account opening bonus after opening an account and completing qualifying activities.
  • Yield: None.
  • Minimum Deposit and Balance Requirements: There’s no minimum deposit or ongoing balance requirement. After the five-year fee-free period ends, a $6 monthly maintenance fee applies during statement periods without one of the following: a direct deposit made to the account or an average day ending balance of $5, or more in the account.
  • Rewards and Incentives: Enjoy access to more than 16, Chase ATMs throughout the U.S.

Learn More


4. GO2bank

Go2bank Logo

Earn Up to 7% Cash Back When You Buy eGift Cards in the App1; 1% APY2 paid quarterly on Savings Up to $5,

GO2bank is a consumer-friendly online bank account that has a very strong yield on savings balances: 1% APY2 on savings up to $5, Plus, account holders can earn up to 7% cash back on eligible electronic gift card purchases in the app.

To avoid the $5 monthly fee, set up eligible direct deposit. Don&#;t miss these other great perks and benefits as well:

  • Get paid up to two days early with ASAP Direct DepositTM3
  • Deposit cash at participating retail stores, subject to fees and deposit limits that may apply
  • Enjoy up to $ in overdraft protection with opt in and eligible direct deposit

Overdrafts are paid at GO2bank’s discretion. Terms and conditions apply.

  • Yield: Earn 1% APY2 on savings up to $5,
  • Minimum Deposit and Balance Requirements: GO2bank has no minimum opening deposit or ongoing balance requirements.
  • Rewards and Incentives: Get paid up to two days early with ASAP Direct DepositTM3 and earn up to 7% cash back on eGift Card purchases made in the app (3% cash back on Amazon gift card purchases).
  • Possible Fees: A $15 fee may apply to each overdraft transaction not repaid within 24 hours of authorization of the first transaction that overdrafts the account. See other simple fees at mynewextsetup.us

Learn More

1Active GO2bank account required to receive an eGift Card. eGift Card merchants subject to change

2GO2bank, Member FDIC. Interest paid quarterly on the average daily balance of savings during the quarter up to a $5, balance and if the account is in good standing. 1% Annual Percentage Yield (APY) as of January APY may change before or after you open an account. The average national savings account interest rate of % is determined by the FDIC as of 12/14/ Visit mynewextsetup.us to learn more. Fees on your primary deposit account may reduce earnings on your savings account.

3Direct deposit early availability depends on timing of payor’s payment instructions and fraud prevention restrictions may apply. As such, the availability or timing of early direct deposit may vary from pay period to pay period. The name and Social Security number on file with your employer or benefits provider must match your GO2bank account exactly or we will decline your deposit.


5. Chime Deposit Account

Chime Bank Account

Round Up the Change to Save Automatically

Chime is a user-friendly money management app that offers an early payday option for eligible deposit account (checking) customers whose employers file with the Federal Reserve to begin the direct deposit process.

If you’re a college student working part-time to make ends meet while in school, that&#;s doubtless a welcome perk.

Also not to be missed: an automatic savings feature that instantly rounds up the change on every debit card transaction and sets the difference aside for a rainy day.

  • Account Opening Bonus: There’s currently no account opening bonus. Check back for the latest offers.
  • Yield: See Chime&#;s website for the latest rate information.
  • Minimum Deposit and Balance Requirements: There’s no minimum opening deposit and no minimum daily balance.
  • Rewards and Incentives: With normal use, the Chime deposit account is virtually fee-free, though third-party ATM owners may charge fees beyond Chime’s control.

Learn More

Chime is a financial technology company, not a bank. Banking services provided by, and debit card issued by, The Bancorp Bank or Stride Bank, N.A.; Members FDIC.


6. HSBC Choice Checking

Hsbc Logo

Enjoy an Attractive Referral Bonus Offer

TheHSBC Choice Checking account has a slew of great perks for students of all ages, including up to $2, in referral bonus opportunities.

Pair your account with a maintenance fee-free HSBC Direct Savings account to maximize your return on deposited funds.

  • Account Opening Bonus: See HSBC&#;s website for the latest account opening bonus information.
  • Yield: None.
  • Minimum Deposit and Balance Requirements: The minimum opening deposit is $ There’s no ongoing balance requirement, but you do need to keep at least $1, in combined personal deposit account and investment balances or receive at least one recurring direct deposit each month to avoid the maintenance fee.
  • Rewards and Incentives: Take advantage of a suite of money management tools and insights from EverFi, an HSBC partner. Plus, get up to $2, when you refer friends who open a qualifying HSBC personal or business account.

Learn More


7. Capital One MONEY

capital one logo

% APY on All Balances

Capital One ’s MONEY account is far and away the best choice on this list for high school students and parents looking to teach them lifelong money management habits.

As one of the few true teen checking accounts around, it can help students start financial adulthood off on the right foot.

A decent yield on all balances and no monthly maintenance fees — ever — further sweeten the deal.

  • Account Opening Bonus: There’s currently no account opening bonus. Check back for the latest offers.
  • Yield: % APY on all balances.
  • Minimum Deposit and Balance Requirements: There’s no minimum deposit or ongoing balance requirement.
  • Rewards and Incentives: Use the app’s Spendable and Set Aside categories to make (or encourage) smart spending and saving decisions.

Learn More


8. Ally Interest Checking

ally bank logo

Up to % APY on Eligible Balances

Like some of the other contenders on this list, theAlly Bank Interest Checking account isn’t strictly a student checking account.

But with no monthly maintenance fees, no minimums, thousands of in-network ATMs, and a decent yield on all balances, it’s an excellent starter account for students who don’t anticipate banking in-branch anytime soon.

  • Account Opening Bonus: There’s currently no account opening bonus. Check back for the latest updates.
  • Yield: % APY on balances under $15, and % APY on balances of $15, or greater.
  • Minimum Deposit and Balance Requirements: There’s no ongoing minimum balance requirement or minimum deposit required.
  • Rewards and Incentives: Enjoy mobile check deposits with the mobile app and no ATM fees at nearly 40, machines in Ally&#;s U.S. ATM network. Transfer money by voice using the Ally skill for Amazon Alexa (or use Zelle, a more traditional P2P transfer option). And take comfort in the fact that Ally Bank never charges overdraft fees.

Learn More


9. SoFi Money

SoFi Review

Virtually No Fees; FDIC Insurance on Balances Up to $ Million

SoFi Money is a virtually fee-free checking account (actually, a cash management account with FDIC insurance on balances up to $ million). Its account opening bonus earns its keep as one of the best new bank promotions around.

And, if you have good credit and you&#;re shopping around for an affordable loan, don&#;t miss SoFi&#;s extensive credit product lineup: student loan refinancing, personal loans, home loans, and more.

  • Account Opening Bonus: Earn up to $ when you open your account and complete qualifying activities. First, sign up for SoFi Money and add $ to your account to earn a $25 account opening bonus. Set up a direct deposit of at least $ into your new account to earn another $75 bonus. Terms apply.
  • Yield: See SoFi’s website for the latest yields.
  • Minimum Deposit and Balance Requirements: None.
  • Rewards and Incentives: Perks of SoFi membership include rate discounts on SoFi loans, customized financial planning, free P2P transfers, and exclusive offers from SoFi partners. Plus, take advantage of SoFi&#;s referral program, which pays up to $ per successful referral.
  • Possible Fees: Virtually none. See SoFi Money’s account disclosures for more details.

Learn More


PNC Virtual Wallet Student

Pnc Bank Logo

3-in-1 Account Package for Short- and Long-Term Financial Needs

PNC Virtual Wallet Student is a student-friendly version of PNC&#;s popular Virtual Wallet package. It combines three subaccounts to help younger people manage short- and long-term financial needs in one place:

  • Spend, a primary checking account for day-to-day money management needs
  • Reserve, a cash set-aside for shorter-term financial goals and emergencies
  • Growth, a long-term savings account with a variable yield

The PNC Virtual Wallet Student student bank account package adds some benefits the &#;adult&#; PNC Virtual Wallet package lacks, including no monthly service charge, one complimentary incoming or outgoing domestic wire each month, and one courtesy overdraft per month.

Plus, new sign-ups are automatically enrolled in electronic statements and online banking.

PNC Virtual Wallet Student upgrades to PNC Virtual Wallet after six years, at which time it&#;s subject to Virtual Wallet features and fees then in effect.

  • Account Opening Bonus: There’s currently no account opening bonus. Check back for the latest updates.
  • Yield: Yields on Growth balance vary with prevailing rates.
  • Minimum Deposit and Balance Requirements: There’s no ongoing minimum balance requirement or minimum deposit required.
  • Rewards and Incentives: Get up to two monthly ATM fee reimbursements at non-PNC ATMs.

Learn More


Discover Bank Cashback Checking

Discover Logo

Get 1% Cash Back on Up to $3, in Debit Card Purchases Each Month

Discover Bank Cashback Checking is a totally free checking account that delivers 1% cash back on up to $3, in eligible debit card purchases per month. That’s enough for $30 cash back monthly or $ annually when maxed out.

And it’s just the beginning. While Discover Cashback Checking isn’t specifically marketed to students, it has a lot of features friendly to frugal learners. They include:

  • No minimum balance requirements
  • No fees for online bill pay, NSF transactions, bank checks or replacement debit cards
  • Fee-free access to more than 60, ATMs nationwide.

Plus, Discover Cashback Checking offers free overdrafts when you link your account to another Discover deposit account. 

  • Account Opening Bonus: There’s currently no account opening bonus. Check back for the latest updates.
  • Yield: This account has no yield. 
  • Minimum Deposit and Balance Requirements: There are no monthly minimum account balance or activity requirements.
  • Rewards and Incentives: Qualifying Discover Cashback debit card purchases earn 1% cash back on up to $3, spent each month. This excludes transactions like P2P transfers, ATM transactions, and extra cash at the point of sale. Discover Bank Cashback Checking customers don’t pay ATM transaction fees. Checks and replacement debit cards are free too. 

Learn More


Final Word

Discounts and deals abound for frugal students who know where to look for them. It’s heartening to see so many financial institutions — large, small, and in-between — acknowledging that students need a break on banking fees and balance restrictions too.

Now that you’ve committed to investing in your economic future by pursuing a college degree, perhaps it’s time to step out of your parents’ financial shadow and open your first real bank account. You certainly have no shortage of options.

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A guide to student bank accounts in the US

One of the biggest things that you will need to manage when you go to university in the US is your finances. Having a safe place to keep your money is one weight off your mind. There are many banks across the US, as well as different types of accounts. 

Whether you are an international or a domestic student in the US, it is worth checking out what bank accounts there are available for students. 

1. Choose a bank
There are many banks in the US, so the best way to narrow it down is to look at what the different banks are offering students (see our handy table, below). Some other points to consider when choosing a bank are: 

  • Monthly fees or service charges - though they’re sometimes waived for students, many bank accounts will have these. Charges often depend on the amount of money you transfer and the minimum amount you wish to keep in your account, so be sure to have in mind what you’ll be using your account for as you research. Some banks may have additional charges for things like paper statements.
  • Does the bank have an ATM nearby your campus? - If you use a different bank’s ATM to withdraw money from the bank you hold your account with, there is a possibility you will be charged for your withdrawal. It is likely that the bank that has ATMs on your campus may have some kind of affiliation with your university. 
  • Is a state bank or a national bank better? - It is advisable to open your bank account with a national bank such as Bank of America or Chase, rather than a state-specific bank, so that you can use ATMs located across the country if you are an international or an out-of-state student. However, if you are staying in-state to go to university then it may be worth sticking with your local bank, particularly if you already have an account with them. 
  • Does the FDIC insure the bank? -  It is wise to go with a bank secured by the Federal Deposit Insurance Corporation to make sure you receive still receive your funds in the unlikely event of a bank going under.

Studying in the United States

The cost of studying at a university in the United States
Scholarships available in the US for international students
In-state vs out-of-state US colleges
Nine things every student should know about studying in the United States
Best universities in the United States 


2. Choose an account

There are two different types of bank accounts in the US: a checking account and a savings account.

Checking account: a checking account allows you to deposit and withdraw money as often as you like. Usually when you open a checking account you receive a chequebook and a debit card. Most international students will only need to open a checking account to pay for their living costs while studying in the US.

Savings accounts: a savings account is a place to collect money over a longer term. Some students may consider opening one of these, if they are working or want to save money for travel or emergencies. 

Most banks have specific checking accounts for students, such as the Chase College Checking Account and the Santander Student Value Checking Account. 

3. Breakdown of bank accounts

There are hundreds of banks across the US, so it is worth doing some of your own research into the most suitable bank account for you. Here at THE Student, I've had a look around some of the major banks to see what they are offering students.

BankAccount nameMonthly feeExtras
Chase Chase College Checking Account$6 a month, but this is waived for up to five years of college enrolmentA $ sign-up bonus (dependent on criteria), mobile banking app, online budgeting tool, quick online money transfer, $50 refer a friend scheme, student credit card (optional) 
Bank of AmericaBank of America SafeBalance banking$0 for students under 24 years oldMobile banking app, thousands of ATMs across the country, rounds up money into savings, no overdraft fees
Wells FargoStudent Checking Account$0 if aged between years oldMobile banking and easy money transfers, thousands of ATMs, 24/7 fraud monitoring, Campus Card programme
HSBC USAInternational Student Account OR Student Checking Account$0 for six years 

Can connect to a HSBC account in your home country, mobile banking, easy money transfer across countries, $ welcome deposit if new to HSBC (dependent on criteria), free day Sim card

U.S. BankStudent Checking Account$0Four non-U.S. Bank ATM transactions per statement period, free personal checks, mobile banking, campus banking
TD BankTD Student Checking$0 if aged between years old Mobile banking, thousands of ATMs across the country, $ bonus (dependent on criteria), digital wallet
Capital One Checking Account$0Mobile banking, online bill pay, overdraft options, access to 40+ currencies and bank details to use as a local in certain countries
SantanderStudent Value Checking$0 for students aged between years old, fee waived with one transaction per monthMobile banking, discounts on Santander savings accounts, no minimum balance, transfer money internationally

There are also banks that are state specific, such as the Bank of California, so it is always worth researching what your university state has on offer. There are also a number of online-only banks that offer great student bank accounts such as Ally, Simple and Chime. 

4. How to open a bank account

Although it is possible to open a bank account over the phone or online, if you are an international student it might be easier to open your account in person in case there are any complications. When you go to the bank to open your account you will need:

  • Your full name, home address, home telephone number, your campus telephone number and your college address
  • Your passport
  • An I (certificate of eligibility for non-immigrant student status) or I approval notice
  • Any secondary form of identification (such as your student ID card, birth certificate, driver’s license, or a letter from the international students and scholars office at your university)
  • A letter of acceptance from your university 
  • An amount of money to deposit into the account (this will vary between banks)

These requirements may be slightly different across banks, so make sure you check what your bank requires before heading over. 

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What Do You Need to Open a Student Bank Account?

Students can open a bank account.

Image Credit: d3sign/Moment/GettyImages

Opening a student bank account is a major decision. Ideally, you want to choose one with free ATM withdrawals, money management tools and low fees. Some banks also offer cash-back deals and incentives, such as sign-up bonuses. But first, you need to compare your options and check the bank's requirements.

Tip

Students must provide their contact information, Social Security number and a government-issued photo ID when applying for a bank account. If you are underage, you may need to open a joint account with a parent or legal guardian.

Student Bank Account Benefits

Whether you're starting college or getting a part-time job while in school, you need a safe place to keep your money. Having a bank account allows you to grow your savings and learn the basics of money management. Over time, you'll become more aware of your spending habits and improve your budgeting skills. Plus, your savings will be insured up to &#;$,&#; by the Federal Deposit Insurance Corporation.

Student bank accounts come with their perks. First of all, most banks charge lower maintenance fees and may not require a minimum opening deposit. Second, they may offer interest-free overdrafts and all sorts of perks, such as budgeting tools and free personal checks. The requirements for opening a student bank account vary from one institution to another. Generally, underage students must bring a parent or legal guardian to sign up for a bank account.

Get Your Paperwork in Valley national bank savings rates don't have the legal capacity to enter into a contract, explains the Office of the Comptroller of the Is there a home remedy for dog ear yeast infection. Therefore, they need the consent of a parent or guardian to apply for checking or savings accounts, debit cards and other financial products. For example, Citizens Bank allows teenagers aged 16 and over to have a debit card in their names. The card must be linked to a joint account with a parent until you are 17 years old.

If you're over 18, you should be able to open a student bank account in your name. Depending on the bank's requirements, you may need proof of identification and school enrollment, such as your birth certificate, passport or driving license and a student ID. Some banks also require a minimum deposit.

Best Online Bank Account for Students

Now that you know how to open a student bank account, it's time to choose one that meets your needs. The U.S. Bank Student Checking account, for example, includes a free debit card, free personal checks, overdraft protection and other perks. You'll also get free mobile and online banking.

To apply, you must fill out an online form, submit your Social security number along with a government-issued photo ID and make an initial deposit of at least &#;$25&#. Depending on where you study, you may have the option to link your student IDs to your bank accounts to receive a custom campus card.

Another option bge bill pay online baltimore gas and electric Advantage SafeBalance Banking, a checking account offered by Bank of America. If you're over 16 years old, you can open the account in your name. Applicants under the age bank of america student benefits 16 need the consent of a parent or guardian. To sign up, you must enter your full name, date of birth and Social Security number.

Students under age 24 are not required to pay monthly maintenance fees. Other perks 1st grade math curriculum homeschool free mobile and online banking, fraud protection, custom alerts and interactive budgeting tools. Account-holders can also request digital cards and temporarily lock their debit cards through the Bank of America mobile app.

Chase Bank, Discover, PNC and Capital One offer similar options. The Chase College Checking account, for instance, comes with a &#;$&#; signup bonus and money management tools. Students can also set savings goals, track their expenses and pay their bills via the Chase Mobile app. If you're 18 to 24 years old, you may apply for an account online. The bank will ask for your contact information, your college/university name and the date when you expect to graduate.

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11 Best College Student Checking Accounts in

If you’re a student (or parent) looking for a place to park your money without excessive fees or unrealistic balance requirements, check out the impressive array of low-cost, low-balance checking accounts available to students.

Some actively restrict membership to younger individuals, most often those between 17 and 23 or 24 years old. But others are not restricted based on age or student status — meaning you can hold onto them as long as you wish after graduating.

Best Student Checking Accounts for College Students

These are among the best FDIC-insured student checking accounts for U.S. bank and credit union account holders.

Most have low minimum deposit requirements and an impressive array of mobile-friendly capabilities, such as bill pay and peer-to-peer (P2P) transfer apps.


1. Bank of America Advantage Banking &#; $ Bonus Offer

No monthly maintenance fee for Students under 25 enrolled in school or an educational or vocational program on select accounts

Bofa New Logo 7 22 20 x82

Bank of America Advantage Banking is a checking account with three settings: Advantage SafeBalance, Advantage Plus, and Advantage Relationship.

Pick the one that works for you right now, and if your life changes — say, you graduate from college and land a decent-paying job — you can switch to another setting that fits the new you.

With no monthly maintenance fee for Students under 25 enrolled in school
or an educational or vocational program, Advantage SafeBalance and Advantage Plus are the best choices for college students.

Effective February 18, the student waiver will no longer be available to be applied to an Advantage Plus account.

For Advantage Plus accounts with a Student waiver applied prior to February 18, this monthly maintenance fee waiver will apply until the Student turns 25, ceases to be an owner of the account, or notifies us that they are no longer enrolled in school or an educational or vocational program.

See offer page for more details.

All Bank of America Advantage Banking settings include:

  • Easy, Anytime Access. Visit Bank of America at thousands of financial centers and ATMs.
  • 24/7 Security. Total Security Protection® and fraud monitoring. Safer sign-in, card locking features, and more.
  • Convenient Ways to Pay. Use your debit card or digital wallet.
  • Smart Money Management Tools. Set custom alerts and savings goals. West texas national bank kermit texas cash-back deals and rewards customized for you.
  • Unauthorized Transactions. Bank of America&#;s $0 Liability Guarantee means you’re not liable for unauthorized transactions made using your consumer debit card, as long as you report them promptly.
  • Debit Card Controls. Lock a misplaced card quickly and easily to prevent unauthorized use.
  • Custom Alerts. Know now and react fast to important account changes. You can set custom alerts via email or text for things like a low balance, pending deposit, and upcoming bills.

Plus, Advantage SafeBalance charges no monthly maintenance fee for Students under 25 enrolled in school or an educational or vocational program.

For others, the monthly maintenance fee is waived in any statement cycle during which the account holder is enrolled in Bank of America’s Preferred Rewards program.

Bank of America, N.A. member FDIC.

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2. TD Convenience Checking

Earn a $ Account Opening Bonus With Qualifying Activities

td <a href=avon obx house rentals Convenience Checkingis the best choice for students who meet two fairly common criteria: They want the convenience of robust mobile banking and the security offered by widespread branch and ATM access in a single package.

Unfortunately, they must also be based (or attend school) in the Northeastern U.S., where most TD Bank branches are.

Incidentally, with thousands of fee-free ATMs in Canada, TD Convenience Checking is suitable for U.S. students studying abroad there (or close enough to the border to visit regularly).

  • Account Opening Bonus: Open your account and receive direct deposits totaling $ or more within 60 days to earn a $ bonus.
  • Yield: None.
  • Minimum Deposit and Balance Requirements: There’s no minimum deposit requirement and no ongoing balance requirement for full-time students under age
  • Rewards and Incentives: Enjoy no ATM fees at thousands of ATMs in the U.S. and Canada. Plus, pay no monthly maintenance fee on a linked TD Simple Savings account. The monthly maintenance fee is waived with a balance of $ or more. TD Bank has some nice annual-fee-free credit card options too.

Learn More


3. Chase College Checking

Earn a $ Account Opening Bonus With Qualifying Activities

Chase Bank Logo

TheChase College Checking account is a fantastic choice for students ready to manage their money without help from their parents.

Designed for students between 17 and 24 years of age, it waives monthly maintenance fees (or monthly service fees, typically $6 per month) for college students up to five consecutive years.

Convenient value-added features include the user-friendly Chase Mobile app, which pretty much eliminates the need to visit a walmart eye center mexico mo, and instant P2P money transfers with Zelle.

And account holders never pay maintenance fees on linked Chase Savings accounts.

  • Account Opening Bonus: New Chase customers may qualify for a $ account opening bonus after opening an account and completing qualifying activities.
  • Yield: None.
  • Minimum Deposit and Balance Requirements: There’s no minimum deposit or ongoing balance requirement. After the five-year fee-free period ends, a $6 monthly maintenance fee applies during statement periods without one of the following: a direct deposit made to the account or an average day ending balance of $5, or more in the account.
  • Rewards and Incentives: Enjoy access to more than 16, Chase ATMs throughout the U.S.

Learn More


4. GO2bank

Go2bank Logo

Earn Up to 7% Cash Back When You Buy eGift Cards in the App1; 1% APY2 paid quarterly on Savings Up to $5,

GO2bank is a consumer-friendly online bank account that has a very strong yield on savings balances: 1% APY2 on savings up to $5, Plus, account holders can earn up to 7% cash back on eligible electronic gift card purchases in the app.

To avoid the $5 monthly fee, set up eligible direct deposit. Don&#;t miss these other great perks and benefits as well:

  • Get paid up to two days early with ASAP Direct DepositTM3
  • Deposit cash at participating retail stores, subject to fees and deposit limits that may apply
  • Enjoy up to $ in overdraft protection with opt in and eligible direct deposit

Overdrafts are paid at GO2bank’s discretion. Terms and conditions apply.

  • Yield: Earn 1% APY2 on savings up to $5,
  • Minimum Deposit and Balance Requirements: GO2bank has no minimum opening deposit or ongoing balance requirements.
  • Rewards and Incentives: Get paid up to two days early with ASAP Direct DepositTM3 and earn up to 7% cash back on eGift Card purchases made in the app (3% cash back on Amazon gift card purchases).
  • Possible Fees: A $15 fee may apply to each overdraft transaction not repaid within 24 hours of authorization of the first transaction that overdrafts the account. See other simple fees at mynewextsetup.us

Learn More

1Active GO2bank account required to receive an eGift Card. eGift Card merchants subject to change

2GO2bank, Member FDIC. Interest paid quarterly on the average daily balance of savings during the quarter up to a $5, balance and if the account is in good standing. 1% Annual Percentage Yield (APY) as of January APY may change before or after you open an account. The average national savings account interest rate of % is determined by the FDIC as of 12/14/ Visit mynewextsetup.us to learn more. Fees on your primary deposit account may reduce earnings on your savings account.

3Direct deposit early availability depends on timing of payor’s payment instructions and fraud prevention restrictions may apply. As such, the availability or timing of early direct deposit may vary from pay period to pay period. The name and Social Security number on file with your employer or benefits provider must match your GO2bank account exactly or we will decline your deposit.


5. Chime Deposit Account

Chime Bank Account

Round Up the Change to Save Automatically

Chime is a user-friendly money management bank of america student benefits that bank of america student benefits an early payday option for eligible deposit account (checking) customers whose employers file with the Federal Reserve to begin the direct deposit process.

If you’re a college student working part-time to make ends meet while in school, that&#;s doubtless a welcome perk.

Also not eastern bank wilmington ma hours be missed: an automatic savings feature that instantly rounds up the change on every debit card transaction and sets the difference aside for a rainy day.

  • Account Opening Bonus: There’s currently no account opening bonus. Check back for the latest offers.
  • Yield: See Chime&#;s website for the latest rate information.
  • Minimum Deposit and Balance Requirements: There’s no minimum opening deposit and no minimum daily balance.
  • Rewards and Incentives: With normal use, the Chime deposit account is virtually fee-free, though third-party ATM owners may charge fees beyond Chime’s control.

Learn More

Chime is a financial technology company, not a bank. Banking services provided by, and debit card issued by, The Bancorp Bank or Stride Bank, N.A.; Members FDIC.


6. HSBC Choice Checking

Hsbc Logo

Enjoy an Attractive Referral Bonus Offer

TheHSBC Choice Checking account has a slew of great perks for students of all ages, including up to $2, in referral bonus opportunities.

Pair your account with a maintenance fee-free HSBC Direct Savings account to maximize your return on deposited funds.

  • Account Opening Bonus: See HSBC&#;s website for the latest account opening bonus information.
  • Yield: None.
  • Minimum Deposit and Balance Requirements: The minimum opening deposit is $ There’s no ongoing balance requirement, but you do need to keep at least $1, in combined personal deposit account and investment balances or receive at least one recurring direct deposit each month to avoid the maintenance fee.
  • Rewards and Incentives: Take advantage of a suite of money management tools and insights from EverFi, an HSBC partner. Plus, get up to $2, when you refer friends who open a qualifying HSBC personal or business account.

Learn More


7. Capital One MONEY

capital one logo

% APY on All Balances

Capital One ’s MONEY account is far and away the best choice on this list for high school students and parents looking to teach them lifelong money management habits.

As one of the few true teen checking accounts around, it can help students start financial adulthood off on the right foot.

A decent yield on all balances and no monthly maintenance fees — ever — further sweeten the deal.

  • Account Opening Bonus: There’s currently no account opening bonus. Check back for the latest offers.
  • Yield: % APY on all balances.
  • Minimum Deposit and Balance Requirements: There’s no minimum deposit or ongoing balance requirement.
  • Rewards and Incentives: Use the app’s Spendable and Set Aside categories to make (or encourage) smart spending and saving decisions.

Learn More


8. Ally Bank of america student benefits Checking

ally bank logo

Up to % APY on Eligible Balances

Like some of the other contenders on this list, theAlly Bank Interest Checking account isn’t strictly a student checking account.

But with no monthly maintenance fees, no minimums, thousands of in-network ATMs, and a decent yield on all balances, it’s an excellent starter account for students who don’t anticipate banking in-branch anytime soon.

  • Account Opening Bonus: There’s currently no account opening bonus. Check back for the latest updates.
  • Yield: % APY on balances under $15, and % APY on balances of $15, or greater.
  • Minimum Deposit and Balance Requirements: There’s no ongoing minimum balance requirement or minimum deposit required.
  • Rewards and Incentives: Enjoy mobile check deposits with the mobile app and no ATM fees at nearly 40, machines in Ally&#;s U.S. ATM network. Transfer money by voice using the Ally skill for Amazon Alexa (or use Zelle, a more traditional P2P transfer option). And take comfort in the fact that Ally Bank never charges overdraft fees.

Learn More


9. SoFi Money

SoFi Review

Virtually No Fees; FDIC Insurance on Balances Up to $ Million

SoFi Money is a virtually fee-free checking account (actually, a cash management account with FDIC insurance on balances up to $ million). Its account opening bonus earns its keep as one of the best new bank promotions around.

And, if you have good credit and you&#;re shopping around for an affordable loan, don&#;t miss SoFi&#;s extensive credit product lineup: student loan refinancing, personal loans, home loans, and more.

  • Account Opening Bonus: Earn up to $ when you open your account and complete qualifying activities. First, sign up for SoFi Money and add $ to your account to earn a $25 account opening bonus. Set up a direct deposit of at least $ into your new account to earn another $75 bonus. Terms apply.
  • Yield: Bank of america student benefits SoFi’s website for the latest yields.
  • Minimum Deposit and Balance Requirements: None.
  • Rewards and Incentives: Perks of SoFi membership include rate discounts on SoFi loans, customized financial planning, free P2P transfers, and exclusive offers from SoFi partners. Plus, take advantage of SoFi&#;s referral program, which pays up to $ per successful referral.
  • Possible Fees: Virtually none. See SoFi Money’s account disclosures for more details.

Learn More


PNC Virtual Wallet Student

Pnc Bank Logo

3-in-1 Account Package for Short- and Long-Term Financial Needs

PNC Virtual Wallet Student is a student-friendly version of PNC&#;s popular Virtual Wallet package. It combines three subaccounts to help younger people manage short- and long-term financial needs in one place:

  • Spend, a primary checking account for day-to-day money management needs
  • Reserve, a cash set-aside for shorter-term financial goals and emergencies
  • Growth, a long-term savings account with a variable yield

The PNC Virtual Wallet Student student bank account package discover customer service bank some benefits the &#;adult&#; PNC Virtual Wallet package lacks, including no monthly service charge, one complimentary incoming or outgoing domestic wire each month, and one courtesy overdraft per month.

Plus, new sign-ups are automatically enrolled in electronic statements and online banking.

PNC Virtual Wallet Student upgrades to PNC Virtual Wallet after six years, at which time it&#;s subject to Virtual Wallet features and fees then in effect.

  • Account Opening Bonus: There’s currently no account opening bonus. Check back for the latest updates.
  • Yield: Yields on Growth balance vary with prevailing rates.
  • Minimum Deposit and Balance Requirements: There’s no ongoing minimum balance requirement or minimum deposit required.
  • Rewards and Incentives: Get up to two monthly ATM fee reimbursements at non-PNC ATMs.

Learn More


Discover Bank Cashback Checking

Discover Logo

Get 1% Cash Back on Up to $3, in Debit Card Purchases Each Month

Discover Bank Cashback Checking is a totally free checking account that delivers 1% cash back on up to $3, in eligible debit card purchases per month. That’s enough for $30 cash back monthly or $ annually when maxed out.

And it’s just the beginning. While Discover Cashback Checking isn’t specifically marketed to students, it has a lot of features friendly to frugal learners. They include:

  • No minimum balance requirements
  • No fees for online bill pay, NSF transactions, bank checks or replacement debit cards
  • Fee-free access to more than 60, ATMs nationwide.

Plus, Discover Cashback Checking offers free overdrafts when you link your account to another Discover deposit account. 

  • Account Opening Bonus: There’s currently no account opening bonus. Check back for the latest updates.
  • Yield: This account has no yield. 
  • Minimum Deposit and Balance Requirements: There are no monthly minimum account balance or activity requirements.
  • Rewards and Incentives: Qualifying Discover Cashback debit card purchases earn 1% bank of america student benefits back on up to $3, spent each month. This excludes transactions like P2P transfers, ATM transactions, and extra cash at the point of sale. Discover Bank Cashback Checking customers don’t pay ATM transaction fees. Checks and replacement debit cards are free too. 

Learn More


Final Word

Discounts and deals abound for frugal students who know where to look for them. It’s heartening to see so many financial institutions — large, small, and in-between — acknowledging that students need a break on banking fees and balance restrictions too.

Now that you’ve committed to investing in your economic future by pursuing a college degree, perhaps it’s time to step out of your parents’ financial shadow and open your first real bank account. You certainly have no shortage of options.

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Geared toward students ages 23 and younger, the BB&T Student Checking Account has some useful features overall (see below), but what makes it shine in this category is the U by BB&T mobile app.

State-of-the-art and easy-to-use, the app allows you to customize your dashboard with whatever is most important to you, from checking your credit score to paying bills. You also can set savings and spending goals, pay friends with Zelle, store and attach receipts, and even connect with a personal banker, all from your phone. The app currently ranks # in Finance apps on the iTunes App Store with stars, and has a user rating on Google Play.

With no minimum deposit, no monthly fee, no direct deposit requirements, it's inexpensive to keep your funds in this account. Also, BB&T waives the fee associated with non-BB&T ATM transactions two times per statement cycle, although you will not be reimbursed for the other bank's fee. Though the account is fee-free, overdraft fees tend to be high, although you can opt-out of Overdraft Review to avoid them.

Unfortunately, BB&T is currently available in only 15 states: Alabama, Florida, Georgia, Indiana, Kentucky, Maryland, New Jersey, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, West Virginia, and the District of Columbia. However, BB&T has recently merged with SunTrust—the new entity is named Truist—which will expand its geographic footprint.

Pros
  • No direct deposit requirements

  • Non-BB&T ATM fees waived twice per month

Cons
  • Confusing overdraft protection options

  • $36 overdraft fee, which can be charged 6 times per day

  • Only available in 15 states and the District of Columbia

Other important information:

  • Minimum deposit: $0 
  • Interest: None
  • Fees:
  • Monthly Fees: $0 
  • Overdraft Fee: $36 per overdraft, for a maximum of $ per day. You may opt out of Overdraft Review, which means your transaction will be declined, and you will not pay the $36 fee. If your account is overdrawn by $5 or less, BB&T will waive any overdraft fees. You may also sign up for Overdraft Protection, which requires you to link an account to cover overdrafts, but you will pay a $ overdraft transfer fee per transfer. BB&T will waive the overdraft transfer fee for any transfer amounts under $5.
  • ATM Fee: $ for Non-BB&T ATM transactions. This fee is waived twice per statement cycle
  • Accessibility:
  • More than 1, branches in 15 states and the District of Columbia
  • More than 2, ATMs nationwide
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A guide to student bank accounts in the US

One of the biggest things that you will need to manage when you go to university in the US is your finances. Having a safe place to keep your money is one weight off your mind. There are many banks across the US, as well as different types of accounts. 

Whether you are an international or a domestic student in the US, it is worth checking out what bank accounts there are available for students. 

1. Choose a bank
There are many banks in bank of america student benefits US, so the best way to narrow it down is to look at what the different banks are offering students (see our handy table, below). Some other points to consider when choosing a bank are: 

  • Monthly fees or service charges - though they’re sometimes waived for students, many bank accounts will have these. Charges often depend on the amount of money you transfer and the minimum amount you wish to keep in your account, so be sure to have in mind what you’ll be using your account for as you research. Some banks may have additional charges for things like paper statements.
  • Does the bank have an ATM nearby your campus? - If you use a different bank’s Https www suntrust online banking to withdraw money from the bank you hold your account with, there is a possibility you will be charged for your withdrawal. It is likely that the bank that has ATMs on your campus may have some kind of affiliation with your university. 
  • Is a state bank or a national bank better? - It is advisable to open your bank account with a national bank such as Bank of America or Chase, rather than a state-specific bank, so that you can use ATMs located across the country if you are an international or an out-of-state student. However, if you are staying in-state to go to university then it may be worth sticking with your local bank, particularly if you already have an account with them. 
  • Does the FDIC insure the bank? -  It is wise to go with a bank secured by the Federal Deposit Insurance Corporation to make sure you receive still receive your funds in the unlikely event of a bank going under.

Studying in the United States

The cost of studying at a university in the United States
Scholarships available in the US for international students
In-state vs out-of-state US colleges
Nine things every student should know about studying in the United States
Best universities in the United States 


2. Choose an account

There are two different types of bank accounts in the US: a checking account and a savings account.

Checking account: a checking account allows you to deposit and withdraw money as often as you like. Usually when you open a checking account you receive a chequebook and a debit card. Most international students will only need to open a checking account to pay for their living costs while studying in the US.

Savings accounts: a savings account is a place to collect money over a longer term. Some students may consider opening one of these, if they are working or want to save money https www suntrust online banking travel or emergencies. 

Most banks have specific checking accounts for students, such as the Chase College Checking Account and the Santander Student Value Checking Account. 

3. Breakdown of bank accounts

There are hundreds of banks across the US, so it is worth doing some of your own research into the most suitable bank account for you. Here at THE Student, I've had a look around some of the major banks to see what they are offering students.

BankAccount nameMonthly feeExtras
Chase Chase College Checking Account$6 a month, but this is waived for up to five years of college enrolmentA $ sign-up bonus (dependent on criteria), mobile banking app, online budgeting tool, quick online money transfer, $50 refer a friend scheme, student credit card (optional) 
Bank of AmericaBank of America SafeBalance banking$0 for students under 24 years oldMobile banking app, thousands of ATMs across the country, rounds up money into savings, no overdraft fees
Wells FargoStudent Checking Account$0 if aged between years oldMobile banking and easy money transfers, thousands of ATMs, 24/7 fraud monitoring, Campus Card programme
HSBC USAInternational Student Account OR Student Checking Account$0 for six years 

Can connect to a HSBC account in your home country, mobile banking, easy money transfer across countries, $ welcome deposit if new to HSBC (dependent on criteria), free day Sim card

U.S. BankStudent Checking Account$0Four non-U.S. Bank ATM transactions per statement period, free personal checks, mobile banking, campus banking
TD BankTD Student Checking$0 if aged between years old Mobile banking, thousands of ATMs across the country, $ bonus (dependent on criteria), digital wallet
Capital One Checking Account$0Mobile banking, online bill pay, overdraft options, access to 40+ currencies and bank details to use as a local in certain countries
SantanderStudent Value Checking$0 for students aged between years old, fee waived with one transaction per monthMobile banking, discounts on Santander savings accounts, no minimum balance, transfer money internationally

There are also banks that are state specific, such as the Bank of California, so it is always worth researching what your university state has on offer. There are also a number of online-only banks that offer great student bank accounts such as Ally, Simple and Chime. 

4. How to open a bank account

Although it is possible to open a bank account over bank of america student benefits phone or online, if you are an international student it might be easier to open your account in person in case there are any complications. When you go to the bank to open your account you will need:

  • Your full name, home address, home telephone number, your campus telephone number and your college address
  • Your passport
  • An I (certificate of eligibility for non-immigrant student status) or I approval notice
  • Any secondary form of identification (such as your student ID card, birth certificate, driver’s license, or a letter from the international students and scholars office at your university)
  • A letter of acceptance from your university 
  • An amount of money to deposit into the account (this will vary between banks)

These requirements may be slightly different across banks, so make sure you check what your bank requires before heading over. 

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Pay no ATM Transaction fees at U.S. Bank ATMs. No ATM Transaction fees are charged on your first four Non-U.S. Bank ATM How to change cash app card design per statement period.3 (Note: Non-U.S. Bank ATM Transaction fees apply after four.)

Overdraft protection transfers

Pay no fees for overdraft protection transfers made from a linked deposit account (U.S. Bank consumer savings account, money market or a secondary checking account).  Overdraft Protection Transfer Fees apply when transfers are made from a linked U.S. Bank credit account 4(Reserve Line of Credit, Credit Card, Personal Line of Credit, Home Equity Line of Credit and other lines of Credit).

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Enjoy a U.S. Bank Visa® Debit Card, online and mobile banking with mobile check deposit,5 bill pay and more.

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Get your initial box of U.S. Bank Student Checking Logo checks free, or express yourself with a 50% discount on your choice of designs,6 including many colleges and universities.

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If your school participates, you can set up your bank account, pay bills or link your student ID to your U.S. Bank Student Checking account. Our campus banking programs include campus cards, on-campus branches and customer advisory centers.

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6 Things Know Before Opening a Bank of America Student Account

Like many college students, opening a bank account could be the first step you take in managing your personal finances. Even if you had a checking or savings account while in high school, you might be considering changing banks in college. Maybe there’s a Bank of America branch on or near your university campus, or perhaps you’ve heard good things about BofA and wonder if that particular bank is a good choice for you. 

This article will provide the information you should know before opening a student account at one of the largest banks in the U.S., Bank of America. Topics covered include:

  • Eligibility requirements for opening a BofA student checking account
  • The difference between the two types of BofA student checking accounts and how to decide which is best for you
  • The pros and cons of opening a Bank of America student checking account
  • What you need to know about BofA checking service fees
  • What you need to know about minimum balances
  • How bank of america student benefits decide if a BofA checking account is the right choice for you 

Eligibility Requirements for Bank of America Student Checking Accounts

Bank of America has two types of checking accounts suitable for most students: the BofA Advantage SafeBalance Banking checking account and the Advantage Plus Banking checking account. Even though BofA doesn’t specifically refer to either of these as “student accounts,” they will waive their monthly https www suntrust online banking fees for students who are under 24 years old and enrolled in high school, a vocational program, or college or university. 

It’s easy to open either of these new accounts. You just need to present your Social Security number, provide a minimum opening deposit of $ for the Advantage Plus or $25 for the Advantage SafeBalance account, and maintain a permanent address in the U.S. 

Bank of America Advantage SafeBalance vs. Advantage Plus

While the Bank of america student benefits SafeBalance and Advantage Plus accounts offer a monthly maintenance fee waiver for students, there are significant differences between the accounts:

  • Advantage Plus: The Bank of America Advantage Plus Banking account is a traditional checking account. You can purchase paper checks to write on the account, as well as use a debit card with the account to use for purchases and at ATMs. If you overdraw the account — take out or spend more money than you have in your account at the time — you will be charged an overdraft fee. Note that you might be able to set up overdraft protection for this account, but that would entail setting up a savings account or making some other arrangement with the bank — like a line of credit — that likely won’t be an option if you are a student.
  • Advantage SafeBalance: The Bank of America Advantage SafeBalance Banking account doesn’t offer checks, but you do get a debit card to use. You’ll never be charged an overdraft fee with this account because the bank won’t honor purchases or withdrawals in excess of your balance. If you don’t have enough money in your account to cover the transaction, they will simply decline payment. 

Pros and Cons of Bank of America Checking Accounts

As is the case with all banking options, you’ll find some pros and cons to each. Ultimately, which type of account you choose will depend on your particular circumstances and needs.

The following sections list some of the pros and cons associated with the Bank of America checking accounts to help you make a sound decision. 

Pros of Bank of America Checking

BofA’s checking accounts definitely offer some real advantages. They include:

  • Branch accessibility: Bank of America has 4, branches spread out over 37 states and Washington, D.C. If you go to school in one of those states, you should easily be able to find a bank branch on or close to campus.
  • ATM accessibility: Bank of America makes on-the-go banking extremely convenient for busy college students. BofA operates around 17, ATMs where you can check your balance, make a deposit, transfer funds between accounts or make a cash withdrawal without having to pay a user fee. 
  • Award-winning mobile app and online banking: BofA’s award-winning mobile banking app lets you do practically all of your banking on your smartphone. You’ll be able to see all of your accounts, make mobile check deposits, set up bill pay, transfer funds and instantly send money to friends through Zelle, all without ever having to leave your dorm room. You can also use your computer for online banking.
  • Savings incentives: Bank of America invites debit card users to enroll in its Keep the Change program. Under the program, each time you make a purchase using your debit card, the amount of the purchase is automatically rolled up to the next whole dollar amount, and the excess change is automatically transferred to your savings account. This is a great way to begin budgeting for a spring break trip or saving up for a plane ticket back home.

Cons of Bank of America Checking

Of course, like anything else, banking with Bank of America has a few downsides.

  • Inconvenience: Often, a student will open a bank account in their hometown — maybe because it’s where their parents’ bank is — and then use a branch of that same bank near their college campus when the need arises. However, if you open a Bank of America account in your home state and then end up attending college in one of the 13 states that don’t have a Bank of America presence, you could end up in a bind. Not only will you not be able to do in-person banking when you want to, but you also won’t find fee-free BofA ATMs.  
  • High fees:
    • If you end up using a non-Bank of America ATM with your BofA debit card, you could end up paying a lot in transaction fees. BofA charges $ per transaction, plus, you will be charged whatever fees the financial institution that owns the ATM charges. You could end up paying anywhere from $5 to over $8 or $9 per ATM transaction. 
    • Bank of America also charges high overdraft fees if you choose a checking account — like Advantage Plus — that allows for overdrafts. Bank of America charges its customers $35 each time a checking account is overdrawn. If you make a mistake with your account and write several checks that end up in overdraft, you could easily incur over $ in fees from that one mistake.  

Bank of America Checking Service Fees

Many banks charge their customers a monthly maintenance fee for their checking account. Bank of America is no exception. While you’ll be allowed to have a service fee-free account until you graduate or reach the age of 24, whichever comes first, you will incur checking service fees if you keep your BofA account beyond graduation. Those fees are:

  • $12 per month for the Core Checking account and Advantage Plus checking account, unless your employer or another person or institution makes a direct deposit of at least $ each month into your account or you maintain a minimum daily balance of $1, or more
  • $25 per month for BofA’s interest checking account, which is waived if you keep a combined $10, balance in all of your Bank of America accounts
  • $ a month for your SafeBalance banking account

Bank of America Checking Minimum Balances

The minimum balances BofA charges for its two student-friendly checking accounts — $25 for the SafeBalance and $ for the Advantage Plus — are not unusual. Many, if not all, banks require some kind of minimum balance to open the account or avoid fees or receive other perks. 

Banks impose minimum balances on account holders because they want more deposits. The more money banks have in their coffers, the more they can lend to people and charge interest for. Also, banking regulations favor banks that maintain a certain level of bank deposits, so incentivizing you to keep money in your account helps banks with compliance. Finally, banks offset their operation costs with the fees they charge customers, so whether you keep a minimum balance, they still make money.  

Confusion can arise, however, because banks use different methods to calculate whether and when you have met the minimum balance. Be sure to ask the bank how and when they calculate their minimum balance requirements, including what constitutes a statement cycle, before deciding to open your account. Also, be sure to ask if there are other ways to avoid incurring fees after you stop being an eligible student, such as using online banking or setting up direct deposit. 

Is Bank of America Checking Good for You?

Whether Bank of America ends up being the right choice for a student checking account depends on if the benefits outweigh any potential problems for you. As one of the largest banks in the country, there’s a good chance union savings bank mt washington you will have a BofA branch in proximity to your home or campus. However, if you are studying in a state without a BofA, you could end up incurring a lot in ATM fees.

If you decide to go with a BofA account, you’ll need to choose between the Advantage Plus or SafeBalance account. If you will be doing a lot of check-writing, you will need the paper checks that come with Advantage Plus. Keep in mind that you could be charged a lot in overdraft fees if you are not extremely careful with how you manage business real estate for sale near me account. 

If you never write checks and don’t like the risk of incurring overdraft fees, then SafeBalance might be the way to go. It’s important to remember that after you turn 24 or graduate from college or your vocational program, both accounts will revert to charging you fees unless you meet certain requirements, so make sure you understand all the possibilities. 

Need More Help? mynewextsetup.us Is Your Resource for Student Financial Information

Planning for college is an exciting time in every student’s life. But it can also be stressful, especially when it comes to figuring out how to handle the financial aspects of obtaining an education. Along with choosing the best bank to meet your needs, you might be gathering information on how to save for college, how student loans work, and how you will pay off your student debt. 

mynewextsetup.us can help. We’re experts in helping students like you manage the financial aspects of a college education, freeing you up to focus on working for your degree, rather than on how you’re going to pay for it.

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