Student checking accounts

Student checking accounts offer more advantages than traditional checking accounts, and that’s why you should take advantage of them. At Responsible Economy, we’re here to show you what student accounts are, who can apply for them, and of course, which ones are the best in the United States. Let’s get started!

What are student checcking accounts?

Student checking accounts are specialized banking options designed to cater to the unique financial needs of students. These accounts offer a range of benefits and features tailored to students, making them a great choice for those pursuing higher education. To qualify for a student account, individuals typically need to be enrolled in an accredited educational institution, such as a college or university. These accounts often come with perks like no or low monthly fees, higher withdrawal limits, and access to mobile banking tools.

Student accounts are a valuable tool for managing finances during the educational journey. They provide a convenient way for students to handle their money, receive funds from scholarships or financial aid, and learn about responsible financial management. With the right student account, individuals can access the tools and resources they need to achieve their academic and financial goals.

Best student checking accounts

We have compiled a ranking with the main features of the best student checking accounts in the United States:

Logo Chase
  • It is very easy to avoid monthly commissions
  • Welcome bonus of 200 dollars fulfilling conditions
  • More than 16,000 ATMs in the United States
  • $25 minimum deposit
  • Very low interest rates
Bank of America logo
  • It is very easy to avoid monthly commissions
  • More than 16,000 ATMs in the United States
  • $100 minimum deposit
  • No welcome bonus
  • High interest rates if you have a lot of savings
Wells Fargo logo
  • It is very easy to avoid monthly commissions
  • Nearly 12,000 ATMs
  • $25 minimum deposit
  • Welcome bonus of 300 dollars fulfilling conditions
  • High interest rates on CDs
Logo Sofi
  • No fees and no requirements
  • Nearly 60,000 ATMs
  • Welcome bonus of 250 dollars fulfilling conditions
  • High interest rates on CDs
Charles-Schwab-Logo
  • No fees no direct deposits
  • Fee-free withdrawals from ATMs around the world
  • Without minimum deposit
  • No welcome bonus
  • High interest rates on CDs
Chime checking account Logo
  • No fees no direct deposits
  • More than 60,000 commission-free ATMs
  • Without minimum deposit
  • No welcome bonus
  • High interest rates on Savings
Ally logo
  • No fees no direct deposits
  • More than 50,000 commission-free ATMs
  • Without minimum deposit
  • No welcome bonus
  • High interest rates on CDs and Savings
Citibank-logo
  • Commissions of $10 if you do not meet requirements
  • No fees at Citibank ATMs
  • Without minimum deposit
  • No welcome bonus
  • High interest rates on CDs

Differences between checking accounts and student checking accounts

Checking accounts and student checking accounts differ in their features and target audience. Regular checking accounts are versatile, catering to a wide range of individuals, while student checking accounts are tailored specifically for students.

Traditional checking accounts are open to people of all ages and backgrounds. They may have varying fees and balance requirements, offering features like online banking, check-writing, and access to ATMs.

On the other hand, student checking accounts are designed exclusively for students enrolled in educational institutions. These accounts often come with benefits such as lower or no monthly fees, reduced minimum balance requirements, and free ATM transactions. They may also include financial education resources to help students manage their money effectively.

In summary, while both types of accounts provide essential banking services, student checking accounts understand the unique financial needs of students, offering them convenient and cost-effective solutions during their academic journey.

Frequent questions

Here you have a frequent questions about student checking accounts:

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Updated the day 1 September, 2023 by Alfredo Barandiarán

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