What Banks should I use as a Student?

What Banks should I use as a Student?


As a student, you grow and learn to do quite a lot. When it comes to money matters, you begin to learn to do your banking and payments by yourself. Managing fees, scholarship money, money from internships, and so on can be a task. In addition to this, there are other things like the creation of accounts, savings, and more to look into.

You should know how to make choices and decisions for banking. As a student, being new to the processes, you must select banks that you’re comfortable with. A bank that understands your needs and helps you understand the procedures and all that’s involved. Read about what you need to consider while choosing a bank and a few options that you can pick from as well. 

Choosing banks as a student  

One should be aware of multiple factors concerning banks before making a choice. When it comes to important decisions like these, it is more necessary to look for the best and safest bet. Here are a few things to consider before you choose a bank: 

  • The why 

The most important factor to consider is why you’re opening a bank account. Is it for savings or expenditure? Do you want it to gain interest? Is it because you want to separate amounts into a different account? Consider what the purpose of your account is. Based on that you can check out banks that are in favor of the same. If banks specialize in that field, it’s better to opt for that banks as they’ll be able to help you better

  • Overdraft facility 

An overdraft allows you access to some money in case you go all zero on your bank balance. It is a loan without interest given to students only. There are terms and conditions to the same. Also, different banks have different limits on these overdrafts. Look for one that suits you best. There are banks without this facility as well. Be careful about checking this out before you create an account with a bank.

  • Look for perks 

Different banks will have other benefits. Some may have special discount rates and offers for students. You want to have a good look at all of these before you choose a bank. Consider the interest rates, rewards, if any, and other perks that will benefit you. 

  • Choose smart, not fast 

Take your time in picking out your bank. Consider the future as well and how the terms and conditions of the bank will affect the same. Pick smart options for yourself and choose wisely. You don’t want to be paying troublesome amounts in the name of debts or interest. Look out for these minor details while selecting a bank. 

  • Keep credit in mind 

Check how you can increase your credit and what reduces the same- as per the bank’s provisions. Connect all your payments and expenditure and see how things are looking from the credit point of view. You don’t want to mess up your credit score!

  • Cards and other features 

Take a look at the provisions for credit, debit, and other cards. Some banks don’t have the option for cars while some may not provide checkbooks. You want to look out for all these things and the account features as well. 

Banks to choose for student 

Now that you know what to look at, here are a few banks you can consider creating an account with:

  • US bank

This is one of the highly reliable banks of the state. It allows you to create joint or solo student accounts depending on your age. The best part about this bank is that it provides a lot of opportunities for students to start with. A low minimum balance of 25$ and no monthly fees seems like a fair place to begin. The US bank also allows diverse modes of payments as well as on-campus payments. 

  • Bank of America 

Another reliable bank that you can begin with. This too has a minimum balance of 25$ to pay and again charges no monthly fees. They have quite interesting features and provisions including overdraft protection. You can begin your journey with this bank and start an account only from the age of 18 years.

  • Chase 

If you want to start from the best profit system, you can go for Chase bank. This bank does not require a minimum balance or any monthly charges. You can open your student account from the age of 13 and access ATMs and many other facilities. The only drawback is that the interest rates are low. 

  • Capital One 

Another bank with similar benefits to that of Chase is Capital One Bank. They too offer access to ATMs and other facilities. Their interest rates are higher as well. Another perk is that there is parental control available too. This account is valid only for up to 18 years which is kind of a drawback for college students. 


There is a wide list of banks that students can opt for. However, note that each will be beneficial based on your primary needs and requirements of the bank. Be sure to look at the pros and cons before you pick a bank. Also, check rates and security features before you create your account.

  • Does one have to pay monthly charges after graduation? 

Mostly yes. Many banks offer zero monthly charges on student accounts. However, after graduation, if students still wish to maintain the account, there are monthly charges applied. 

  • Do banks allow joint student accounts with parents?

Some banks allow joint accounts. This is mostly the case if the account is created when the student is below the age of 18. 

  • Is PNC bank good for students? 

Yes. PNC banks are said to be a great option for students and their banking. It has a good amount of safety features for smart and simple banking for students.

  • How long does a student account remain?

Students are allowed to keep their accounts until graduation. Some allow keeping the same even beyond graduation. However, if a student wishes to get rid of the same, they can do that as well based on the terms and conditions.