Start building your own personal finances and easily manage them with a checking account. With an checking account you can more easily budget, instead of eating ramen for a whole week before your payday. Many banks even offer checking accounts specifically tailored for students.
Before you sign up for just any checking account, you must consider and review the account features. Check if your checking account will offer a free debit card, online and mobile banking, no monthly fee and more.
Avoid accounts with overdraft fees, paper statement fees and more. If you’re interested in a student checking account, read on!
Opening An Account
When opening a checking account either online or in branch, you’ll need several forms to ID, an initial deposit and more:
- Basic Information – Including your social security number, mailing address, phone number, and email address.
- Two Forms of ID – Your driver’s license and student ID will suffice.
- Proof of Address – A piece mail with your name and home address.
- Initial Deposit – Ranges from $0 to $100 with different banks/
- Beneficiary – Who will receive your money should you pass away.
Checking Account Features
- Debit Card – Connected to your bank account, you can make purchases directly
- Electronic Deposits – Connect your account to have your salary, tax refunds and more to have it automatically deposited. Additionally, make payments with your account when you connect your account
- Online and Mobile Banking – Pay your rent, bills and more without leaving your couch.
Checking Account Fees
Check if your account is fee free and avoid:
- Monthly maintenance fee
- Non-bank ATM fee
- Overdraft/non-sufficient funds (NSF) fee
- Overdraft transfer fee
- Continuous overdraft fee
- Paper statement fee
Overdraft Protection
Overdraft protection is when the bank covers for you in instances when there’s not enough money in your bank account. But the convenience of overdraft protection can compound quickly into hundreds of dollars in fees.
Make sure you know if your bank has overdraft fees and link up to a savings account or credit card. Overdraft transfer fees are generally less expensive than overdraft protection fees.
Other Factors
- Linked Savings Account – Some banks offer a savings account you can automatically link to your checking account.
- Bonuses – Check if the bank account is currently offering a bonus when you sign up and meet the requirements.
- Coverage – Is your bank online only or will you need to go to their physical locations
- Overdraft Fees – If your bank account balance goes negative, your bank will charge you for it. This happens when you spend more money than you have in your bank account. These fees may vary from bank to bank.
- Monthly Maintenance Fees – See is you have to maintain a certain balance or need a monthly deposit. Most banks waive this for students.
Best College Checking Account: Chase College Checking
For college students 17 to 24 years old at account opening with proof of student status check out the Chase College CheckingSM account, enjoy features such as:
 • Enjoy $100 as a new Chase checking customer when you open a Chase College CheckingSM account and complete 10 qualifying transactions within 60 days of coupon enrollment. • No Monthly Service Fee for up to 5 years if you're a student between the ages of 17-24 at account opening with proof of student status. • Students ages 18-24 with a Social Security Number can open an account online or at a Chase branch. Students with no Social Security number or who are 17-year-olds can only open an account at a branch. • Keep track of your money in the Chase Mobile® app. The app helps you manage your money. • Zelle® is available in more than 1,000 banking apps in the U.S. So you can send and receive money from almost anyone you know and trust who has a bank account in the U.S. • Access to more than 15,000 Chase ATMs and more than 4,700 branches. • JPMorgan Chase Bank, N.A. Member FDIC • Chase Overdraft AssistSM – no overdraft fee if you’re overdrawn by $50 or less at the end of the business day or if you’re overdrawn by more than $50 and bring your account balance to overdrawn by $50 or less at the end of the next business day* *With Chase Overdraft AssistSM, we won’t charge an Overdraft Fee if you’re overdrawn by $50 or less at the end of the business day OR if you’re overdrawn by more than $50 and you bring your account balance to overdrawn by $50 or less at the end of the next business day (you have until 11 PM ET (8 PM PT) to make a deposit or transfer). Chase Overdraft Assist does not require enrollment and comes with eligible Chase checking accounts. |
Enrollment Requirements:
- Student aged 17 to 24
- Parent co-owner if younger than 18
Fee-Free ATM Coverage: US Bank Student Checking
Offering 3,000 branches and over 5,300 U.S. Bank ATMs, the U.S. Bank Student Checking Account transactions made within the network of 24,000 MoneyPass ATMs nationwide are free of charge.
Features are:
- No minimum balance required.
- Wide fee-free ATM coverage.
- Up to 4 non-US Bank ATM transaction fees waived per monthly statement cycle.
- First order of checks free.
Requirements:
- Proof of active student enrollment.
- Parent co-owner if younger than 18.
- $25 minimum opening deposit.
Saving: Bank of America Student Checking
Bank of America offers a “Keep The Change” savings program where you can get cash back deals with their Bank of American Student Checking Accounts.
Features:
- “Keep the Change” savings program. BofA rounds up your purchases to the nearest dollar and deposits the difference into your BofA savings account.
- BankAmeriDeals, earn cash back rewards with your BofA debit or credit card.
- Bank of America student credit cards with no annual fee, get points on everyday purchases.
Requirements:
- Students age 23 or younger.
- $25 minimum opening deposit.
Interest Rate: Capital One Student Checking
Most student checking accounts offer no interest, but the Capital One 360 Money Account offers a competitive APY with no balance minimum
Features:
- No minimum balance required.
- Fee-free access to 39,000 Capital One and Allpoint ATMs.
- Flexible overdraft options:
- Auto declining charges when you don’t have enough funds to cover the transaction,
- Linking to a Capital One 360 Savings account to cover the charges,
- Using the one business day grace period to add sufficient funds, or
- Using Capital One’s Overdraft Line of Credit. The bank will cover the overdrawn amount. You’ll have to pay back with interest.
- 0.25% APY compounded daily.
- Free first set of checks.
Requirements:
- Parent co-owner with an active Capital One 360 deposit account.
- No minimum opening deposit.
- Must agree to accept electronic delivery of all communications.
Customer Support: TD Bank Student Checking
Talk to a live person with a TD Bank Student Checking Account and enjoy 24/7 customer support.
Features:
- No minimum balance required.
- 24/7 live customer support.
- Fee-free TD Bank Simple Savings account.
Requirements:
- Students up to age 24.
- Parent co-owner if younger than 18.
- $0 minimum opening deposit.
Best Bank for Teens: Wells Fargo Teen Checking
Learn about budgeting and saving with the Wells Fargo Teen Checking Account which offers a forgiving overdraft fee feature.
Features:
- Low overdraft fee of $15 per transaction with a max of 2 paid or returned transactions per business day.
Requirements:
- Teens aged 13 to 17 (max 18 in Alabama) with adult co-owner.
- $25 minimum opening deposit.
International Students: Santander Student Value Checking
Students that are ages 16 to 25 can enjoy a Student Value Checking Account from Santander that offers fee-free incoming national transfers.
Features:
- No minimum balance required.
- Fee-free incoming international transfers.
- Fee-free Santander Savings and Santander Money Market Savings accounts.
Requirements:
- Students age 16-25.
- Parent co-owner if younger than 18.
- $10 minimum opening deposit.
Bonus:
- Get $50 when you open a new Student Value Checking account with minimum opening deposit of $10.
- Make 10 debit card purchases that post to your account within 60 days of account opening.
Virtual Wallet: PNC Bank Virtual Wallet Student
Enjoy a virtual wallet that helps you manage, save and grow in your different accounts with the PNC Bank Virtual Wallet Student.
Features:
- No minimum balance required.
- Get 3 accounts in 1: Checking, short-term savings and long-term savings.
- Up to 2 non-PNC Bank ATM transaction fees waived per monthly statement cycle.
- They will refund your first overdraft or NSF fee in the first 12 months after account opening.
- Free overdraft protection.
- One free incoming wire transfer (domestic or international) per monthly statement cycle.
Requirements:
- Actively enrolled student.
- Parent co-owner if younger than 18.
- $25 minimum opening deposit ($0 if you open online).
Personalized Debit Card Feature: BB&T Student Checking
You can design your own debit card with a gallery of images or by uploading your own photo with the BB&T Student Checking.
Features:
- No minimum balance required.
- Up to 2 non-BB&T Bank ATM transaction fees waived per monthly statement cycle.
- Cashback with BB&T Deals.
- Option to personalize your debit card.
- Fee-free regular savings account.
Requirements:
- Students up to age 24.
- No minimum opening deposit.
Relationship Rewards: KeyBank Student Checking
With the KeyBank Student Checking Account, start earning points when you use your debit card to pay bills online and more. You can later redeem these for gift cards, travel rewards and more.
Features:
- No minimum balance required.
- Up to $6 in non-KeyBank ATM transaction fees waived per monthly statement cycle.
- KeyBank Relationship Rewards. Earn points when you do everyday banking activities.
Requirements:
- Students age 16 to 24.
- Parent co-owner if younger than 18.
- $50 minimum opening deposit.
Cash Back Deals: SunTrust Essential Student Checking
Get cash back deals on participating retailers such as Hilton, Starbucks, Dick’s Sporting Goods and more with your SunTrust Essentials Student Checking Account.
Features:
- Get cash back by making purchases with your SunTrust credit or debit card at hundreds of participating retailers.
Requirements:
- Proof of active student enrollment.
- $100 minimum opening deposit.
Recommended Card for Students
 The Chase Freedom Student credit card offers a $50 Bonus after first purchase made within the first 3 months from account opening. You'll earn 1% cash back on all purchases and a $20 Good Standing Rewards after each account anniversary for up to 5 years. There is no minimum to redeem for cash back. Cash Back rewards do not expire as long as your account is open In addition, earn a credit limit increase after making 5 monthly payments on time within 10 months from account opening when meeting credit criteria This card has no annual fee and you'll get free credit score with Chase Credit Journey. |
Bottom Line
If you’re still a student, check out some some of our Student Checking Accounts above! Most offer a cash bonus and no monthly fees with your account. See which account fits your needs above.
Start budgeting with your account and enjoy the benefits of mobile depositing and more. Check out all our extensive list best bank bonuses, here on HMB! Or check out the top bank promotions from institutions like Chase, Huntington, Discover, CIT, TD, HSBC, and more!
