A student checking account is an account that gives students a primary debit card and check-writing services, with a few bonuses intended for a 16–25 populace. If anyone is between the age range and has a driver’s license or SSN, the only additional item that would be required is the evidence of student status. Let’s start with How Do I Get A Student Checking Account.
Document Required To Get a Student Checking Account
To open a Student Checking Account, you must have a valid Social Security Number and proof of enrollment into your college (a valid student ID, transcript, or acceptance letter) to get your student fee waiver.
Student Checking Account Benefits
Zero ATM Transaction Fees
When you make transactions using the U.S. Banks ATMs, there are always zero charges. Also, for the first four transactions made using non-U.S. Banks ATM, zero transaction fee also applies. NB: Charges then apply after the fourth usage of the non-U.S. Banks ATMs.
Zero Overdraft Protection Fee
A user will not be required to pay any overdraft fee generated from a U.S. Bank connected to a secondary checking account, customer savings account, a U.S. Bank, or money market. There will be an overdraft cost if funds are sent from a personal line of credit, linked U.S. Bank credit accounts, home equity line of credit, credit card, including the Reserve Line of Credit, and different chains of credit.
Check Discounts
You can get your initial box of U.S. Bank logo checks for no price. Or with a 50% discount on your choice of design, you can also express yourself, including many universities and colleges.
Banking In Campus
You can create a bank account, your student ID can be linked to your U.S. Bank Student Checking account, pay bills, and do lots more.
Students Checking Account Options
In the banking industry, there are lots of checking account offers made available in the marketplace by banking companies. Let us take a look at the best offer made by some companies.
Discover Bank Cashback Debit.
When you open a Cashback Debit Account Checking Account with Discover Bank, with every purchase you make using a debit card in a month, you earn up to 1% cash back on up to $3,000. This account has zero fees, and it needs no minimum balance. It includes free overdraft protection, and your paycheck can be gotten without charges two days earlier. It is available nationwide, mobile-friendly, and has no-fee check ordering.
Chime Free Checking Account
Chime was one of the mobile banking apps that transformed mobile banking. Users perform all their bank activities online, it has no physical dwelling. Most students prefer it because its mobile banking is free, and it has an Annual Percentage Yield of 0.50%.
Axos Bank Checking Account.
Axos Bank is not known nationwide, and they offer free checking nationwide. They have zero monthly maintenance fee, zero minimum requirements balance, zero overdraft fees, and many more. Axos Bank does not have a real requirement for sustaining a free checking account. It is a good checking account option, but it is not directly a student checking account. The reason most people like it is because it has no monthly maintenance fee and also has unlimited ATM fee reimbursements.
Bank of America
The BOA Advantage SafeBalance Banking account is a good account a college student should consider. Students who are below the age of 25 that are enrolled in a school or a vocational or an educational institution, have the privilege to enjoy zero monthly maintenance fees. When a user opens a fresh BOA checking account before the 30th of June, 2022, you get an online gift offer of $100. The bank’s monthly maintenance fee is $4.95 which can be waived if; an owner of the account is below 18 years or he/she is enrolled in a preferred reward.
Current Banking App
Current is a top mobile banking app, it is very easy to use and it makes banking convenient. Different personalities like Mr. Beast the YouTuber have endorsed the Mobile Bank. The mobile bank has a paid and free version. it requires zero minimum balance, zero overdraft fee, and has zero fee ATM withdrawals at more than 40,000 ATMs. When a user has a $6,000 balance or more, they can get up to 4.00% when they enable the Interest option and add money to their Savings Pods.
HSBC Student Checking Account
HSBC student checking account is very solid. They have a large number of ATMs nationwide, and they are mobile-friendly. Their minimum opening deposit is 1$, and they have a zero balance minimum requirement. It is liked because of its easy way to avoid monthly charges.
US Bank Student Checking Account
To open an account with the US Bank, you will need a minimum deposit of $25. A visa debit card will be issued by the bank to use for shopping and at ATMs. When you use the first four non-U.S. Bank ATMs, the charges are always free. There is a maintenance fee of $2 per month, but it can be avoided when you sign up for a paperless statement.
USAA Classic Checking Account
If you qualify to have free checking, USAA is a good choice for you. The USAA Classic Checking account is formerly known for branding its checking as a student checking account. Although, it still has the same features with some added spaces for a student in a college.
The USAA Classic Checking has a minimum opening deposit of $25, zero checking fee, online bill payments, zero minimum balance requirement, and an Annual Percentage Yield of up to 0.01% as of the 1st of August, 2019. It is available for its members nationwide.
Chase College Checking Account
If you are considering opening a student checking account, you can consider opening with Chase because it is one of the best made for students. A person should not bother about maintenance costs if they are between the ages of 17 to 24.
Students can waive the maintenance fee for 5 years. When a student opens a Chase College Checking account and they perform 10 authorizing transactions within 2 months of creating the account, they can get $100 as a new Chase customer.
Chase College Checking Account has a minimum of $0 opening deposit, a $0 minimum balance requirement, and also has ATM access to 16,000 ATMs nationwide.
Conclusion
Students might not earn so much income, have a job yet, or are not yet familiar with the banking system. There are unique requirements that will be stated based on our research on the best student checking account. To get a student checking account, you can consider opening with one of the banking companies stated above, as they are the best for students. As a head-up, the document required to get a student account is also stated above.
