When it comes to college checking accounts, there is no specific best credit union or best bank account. You will need to research what is offered to college students in your area. Then look at their entire offering of banks services, such as the different accounts and fees. Every bank will offer several accounts, but each will have different features and different fees. Some banks may have lower overdraft fees but higher fees in other areas. Some accounts will hold all your deposits. Others will waive all fees if you maintain a minimum balance. Most banks will waive the monthly service fee on checking accounts for college students as long as they are attending college.
Look for a bank that has an ATM on campus. Also look for a bank that has a large number of ATMs which you can use without a charge because there will be a service fee to use other bank's ATM. Research several banks either online or by personally going into the branch. Find out all you can about the features and charges of each of their accounts. Find out how many ATMs are available, if there are any on campus and whether there is a service charge for using the ATM. Also inquire if there are daily limits on the amount of money you can withdraw from the ATM.
Additionally, the bank you choose will probably offer a debit card and maybe even a credit card for your account. Ask about the details for each of these cards.Some banks offer rewards if you use your card instead of writing checks. Overdraft protection is not necessary if you know how to manage your checking account responsibly and maintain a balance. However, many students see overdraft protection as an required checking account feature. Most banks will connect your checking account to your savings account and will automatically transfer fees as needed.
Choose a bank that will let you put your finances on automatic.This is essential for college students who need to be able to quickly access their bank information. Life as a college student is full and busy. Anything you can do to save time is a real plus and will allow you more time to do other things. Go paperless and automatic with your finances as much as you possibly can. Most banks will offer you a checking account with direct deposit for your paycheck and 24/7 online bill pay. This will help you to save time as well as trees. Go green and make your life simpler at the same time. Opening a college checking and savings account is simple. Find out where your friends bank and ask them if they are happy with the services and fees.