What bank is better for college students?
What bank is better for college students? Check out the list of the best banks so you can build a solid financial path.
Financial products and services for students: 5 best options
Usually, college students are beginning their financial path. Parents might help, but it is always challenging. So, it’s good to pick a good bank for college students.
Counting on products and services that facilitate this journey is crucial. So, there are many options available on the market designed to support college students with their finances.
One of these options includes banks and the whole package of products they offer.
Therefore, we have selected the best banks for students so you choose the one that fits your needs and goals perfectly.
Best banks for college students
College students are beginning with their finances. Usually, they have lower balances and need to benefit from credit-building tools.
Also, they need flexibility, convenience, and accessibility at a low cost. Not all banks offer all that.
And you must be careful about selecting the best for you. In general, the best options include all items mentioned above plus some extra features for financial education.
Furthermore, it is essential that students open an account on their own in order to learn to be responsible for their finances.
So, now, check out what banks offer to choose which fits your situation better.
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1. Chase Bank
The first option is Chase Bank. This bank offers an account specially designed for college students.
The Chase College Checking account charges no monthly service fees while you are in college or follow some requirements.
Also, this bank provides some fantastic tools for students, including an amazing mobile app, educational resources, and convenience.
Furthermore, Chase offers a welcome bonus and a savings account with no monthly service fees if you link it to a College Checking account.
In addition, this bank features a student card that helps you build credit while enjoying rewards like cash back. Since Chase bank is not only online, you can benefit from the many branch locations spread across the US.
Moreover, it doesn’t require a minimum deposit. On the other hand, you must be careful about the overdraft fees charged.
2. Bank of America
Secondly, the Bank of America gathers many advantages for people under the age of 25. For example, the Advantage Banking program offers a checking account with no monthly service fees.
There are other accounts with other great features. This bank offers many solutions that are free for teens.
Also, it provides tools like account alerts, budgeting & spending resources, and customizable features that may help students to save money and spend wisely.
Although the accounts require a minimum deposit, the accessibility is fantastic. Bank of America provides over 4,000 branch locations and more than 15,000 ATMs across the US.
In addition, this bank offers cards for students that include rewards, travel perks, low interest, and zero fees. If you are a college student, Bank of America might be worth considering.
3. Discover Bank – many banking services for college students
Another great option for college students is Discover bank. However, it is important to note that it doesn’t have physical branches.
In summary, this online financial institution offers different types of accounts with rewards and interest earnings. Even though they are not specifically designed for students, they offer simplicity and flexibility.
Furthermore, Discover features many credit cards, including cards for students. Firstly, the Student Cash Back Card offers unlimited rewards with low introductory interest and no annual fee.
Second of all, the Student Chrome Credit Card lets you earn up to 2% cash back on eligible purchases with low introductory interest and no annual fee.
4. Capital One bank services for college students
Capital One is well-known as one of the best financial institutions worldwide. Besides the wide range of products and services, this bank offers accessibility, security, and a whole bunch of benefits that include exclusive experiences.
For college students, Capital One features a Money Teen Checking account with APY on balances.
There is no minimum deposit required, no ATM fees, and no monthly fees. Also, Capital One offers cards for students.
The SavorOne Rewards for Students features unlimited 3% cash back on eligible purchases, no annual fee, and travel rewards.
On the other hand, the Quicksilver Rewards for Students provides unlimited 1.5% cash back on all purchases with no annual fee.
The Journey Rewards for Students card offers 1% cash back on every purchase you make with no annual fee.
All cards provide security features and tools for credit-building.
5. U.S. Bank for college students
Finally, the US Bank is a fantastic option for college students. It offers access to financial education resources through a campus banking program.
The Student Checking Account has no monthly service fee and no ATM fees for four times each month.
Although it requires a minimum deposit, it is only $25.
Moreover, the accessibility is good, with more than 2,000 branches in the South, West, and Midwest.
Recommendation: 8 best credit cards for building credit scores fast
One of the most important actions college students must work at is building a credit history. In order to develop a solid financial path, it is essential to start learning how to build credit to achieve some goals in the future.
Nowadays, some credit cards offer the opportunity to build a credit history at a very low cost.
These cards report to all three major credit bureaus, and some offer rewards and other benefits so you can take full advantage of them while building a solid and good credit history.
So, check out the 8 best credit cards that help you build credit with some benefits.
About the author / Aline Augusto
Reviewed by / Aline Barbosa
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