While this checking account is designed for teenagers, any child age 8+ can be a joint account holder with their parent or legal guardian. It's fueled by incoming paychecks and depleted by bill payments, debit card purchases, … For ages: Under 24 and enrolled as a full-time student, Minimum deposit to open: $25 for the Advantage SafeBalance account and $100 for the Advantage Plus account. That way, if you overdraw your checking account, money will be automatically transferred from your linked savings account to cover for it. Natalie Campisi contributed to the reporting for this article. A student bank account is a checking or savings account that a bank, credit union or other financial institution offers to students. For official contest rules, please go to: Educate your children on all things financial, which bank account is best for your family’s personal situation, Union Bank Review: High CD Rates for West Coast Customers, USAA Bank Review: Competitive Loan Rates for Military and Family, no minimum or maximum balance requirements, Alliant Credit Union Review: What You Need to Know. 1 Plus, pay no monthly maintenance fee on a linked Simple Savings account if you're under 24. BB&T Student Checking is a stress-free checking account designed to meet each student’s personal banking needs. Learn more (PDF) about account types. Opening a bank account is helpful for more than just storing your money in a safe place. TaxAct vs. TurboTax: Which Is the Best Tax Software? (Qualifying transactions include debit card purchases, online bill payments, checks paid, Chase QuickDeposit, Chase QuickPay with Zelle or direct deposits. While not technically for students, the 360 Checking account is one of the best options around. U.S. Bank Student Checking Account. If you do, the bank will pay your transactions if you overdraft, but it will charge the $36 fee listed above. Student Checking Account If you are a high school or full-time college student age 18 or older, we have a checking account just for you. The parent must have an existing qualifying Chase checking account which must be linked to the High School Checking account. It also includes the Zelle payment feature. Chase will give you $100 when you open a Chase College Checking account and complete 10 qualifying transactions within 60 days of opening your … 2 If you're under 18, visit a TD Bank store near you View account details > We also offer one free overdraft refund per year, so if you accidentally overdraft, you are protected. Editorial Note: This content is not provided or commissioned by the bank advertiser. Generally, they’re for students between the ages of 18-23. After you turn 19, your Chase High School Checking SM account will convert to a Chase Total Checking ® account. All ratings are determined solely by our editorial team. Reviews. In 2017, 10% of people ages 15 to 24 were unbanked, meaning that they didn’t have a savings or a checking account, according to the Federal Deposit Insurance Corporation, as reported in October 2018. It’s why we don’t charge a monthly fee for your checking account – no matter what your balance is. Other Benefits or Drawbacks: When you set up your account with U.S. Bank, you’ll have the option to opt into overdraft coverage. In November 7, 2016. The account comes with mobile and online banking, which means you can transfer money into the account — and you can even monitor it with free transaction alerts. She has been writing on personal finance topics for 12 years and gains great satisfaction from making a difference in consumers’ lives. All Rights Reserved. Additionally, Chase often runs promotions that may make the But life’s only going to get busier. Bank of America Review: Is It the Right Bank for You? A parent must jointly own the account — and be an Alliant member. $4.95 for those over 24 on the Advantage SafeBalance account. SunTrust Essential Student Checking comes with a zero liability Debit Card, Online Banking with Bill Pay, Mobile Payment Options and much more with no monthly fees! Paying for rent Learn More: Union Bank Review: High CD Rates for West Coast Customers. Free with a TD ATM in the U.S. and Canada. Fees. Add another account to compare. Help your kids manage their money with a USAA Youth Spending account. For a limited time (through September 18, 2020), new TD Convenience Checking customers can earn a $150 bonus, provided they have $500 in direct deposits within 60 days of account opening. They should already have a checking account with Chase. Who Is Eligible For The $600 Stimulus Check? For children between 16 to 24 years old, the e-Student Checking account from 1st Source Bank offers online and mobile banking, payments via Popmoney, free Mobile Wallet with Apple Pay, and no minimum balance requirements or monthly maintenance fee with e-statements. Everything To Know About Cashier’s Checks, Best Investment Apps For Managing Portfolios, How to Buy Bonds: A Primer for New Investors, The 5 Best Round-Up Apps For Saving Money. To the best of our knowledge, all content is accurate as of the date posted, though offers contained herein may no longer be available. Learn more and let us help you get started. Benefits of Electronic Deposits: Deposit your salary, tax refund and student loan instantly, instead of waiting for a check in the mail and going to the bank to deposit it. They allow you immediate access to your funds, without the need to carry large amounts of cash. A student bank account is a checking or savings account that a bank, credit union or other financial institution offers to students. This account is designed for teens, but any child 8 … Student Checking Youth Checking For ages: 15-17 Free checking that’s great for teens and high school students who are ready to start learning the ins-and-outs of money management. However, this fee is not charged for any item that is $5 or less and does not apply to withdrawals made at an ATM. This is a free account with a contactless debit card, Online Banking, and our mobile app … All Right Reserved. The account also comes with a Mastercard debit or ATM card, free e-statements and even a discount rate on your child’s first car loan if he qualifies. If you do, the bank will pay your transactions if you overdraft, but it will charge the $36 fee listed above. With a personalized debit card, no monthly maintenance fees and no minimum balance requirements, a Student When your child turns 19, this account will automatically become a Chase Total Checking account. Like the other accounts listed above, this account includes the Zelle payment feature. In our search for the best student checking, we focused on monthly maintenance, overdraft and ATM fees. A student bank account designed for your student life, with no monthly fee. One negative is that this account doesn’t earn any interest. Win $500 – and Start the New Year Right! You can open the account with $25, and you’ll get online and mobile banking, text alerts, a free debit card with chip technology and access to thousands of free ATMs across the country. Easy, convenient, digital. Checking Account Features: Debit Card: AKA your new best friend.It’s used in lieu of cash when making purchases. Choose e-statements — and schedule at least one monthly electronic deposit — and your child will earn 0.65% APY. Other Benefits or Drawbacks: If you decide to open a TD Simple Savings account, you can enroll in free overdraft protection. Our evaluation of student checking accounts focused on fees, features, ATM networks and bonuses. A Connecticut native, I studied journalism at Penn State University. Are you a student or young adult ages 17 through 23? Educate your children on all things financial by opening up a student checking account for them. Our checking account for students lets you use our free Visa ® Debit Card online or in stores across the world. Though this checking account does not accumulate interest, it does come with a U.S Bank Visa debit card and a free first box of checks. When you sign-up to receive bi-weekly email updates from GOBankingRates, you’ll automatically be entered for a chance to win our $500 #BestBanksBestYou sweepstakes. Related: How to Open a Bank Account Online. Find Out: Alliant Credit Union Review: What You Need to Know. To open an account, you’ll need $15. Account holders will also get one overdraft fee refund per year and up to $15 in ATM fee rebates per month. It allows you to send and receive money from anyone, regardless of their bank. Both Clear Access Banking SM and Everyday Checking accounts come with the Wells Fargo Mobile ® app – check your account balances, set up alerts, securely turn your debit card on or off, and send and receive money in minutes using Zelle ®. Chase High School Checking is a joint account for students who are 13 to 17 years old with their adult parent or guardian. Student checking accounts may be one of the best ways to help a student, either high school or college bound, learn how to budget, account for, and manage their own funds. The Forbes Advisor editorial team is independent and objective. Overdraft: $36 for each item over $5, free for each item of $5 or less. You can open an account with $25, and your teen will receive a free Mastercard debit card. $12 a month those over 24 on the Advantage Plus account. Member FDIC. Green Dot Bank Review: Alternative Banking Using a Debit Card and Mobile App, ATM or debit card with a choice of daily preset limits, ATM or debit card with zero fraud liability, ATM card with $250 daily withdrawal limit. If you’re off to college, there may be a better option for you. No age restrictions (students enrolled in high school, technical college, trade school or university). Student Checking Account. Keep in mind that children under 18 … This bank account comes with tools to help you teach your children how to wisely manage money. TD Student Chequing Account Designed specifically for students, enjoy no monthly fee and 25 transactions included each month, so you can focus on school. For ages: 17- to 23-year olds enrolled as a student. https://www.wintrust.com/.../checking/student-checking.html That way, if you overdraw your checking account, money will be automatically transferred from your linked savings account to cover for it. We'll help you grow. Other Benefits or Drawbacks: While there is no designated student checking account, Bank of America waives the monthly maintenance fee for students on two of its accounts: the Advantage SafeBalance account and the Advantage Plus account. Get great student perks from TD Convenience Checking SM, like no minimum balance requirements and no monthly maintenance fees. The insufficient funds fee will also not be charged if your account balance at the end of the business day is overdrawn by $5 or less. Monthly service fee: $6 monthly service fee or $0 for up to five years while in college. U.S. Bank Student Checking is a full-service checking account with features to help students manage their money. New customers get $100 after opening their accounts and completing 10 qualifying transactions within 60 days of opening the account. It’s one of the few where you can earn interest on your balance. When you place a lock on your debit or ATM card via Online or Mobile Banking, it will prevent most types of card transactions from being processed until you take action to unlock your card. A checking account is the engine of household personal finances. Account Monthly Fee Minimum Deposit PNC Bank Virtual Wallet Student $0 $0 ($25 if opened in branch) Chase College Checking & Chase High School Checking $0 (may require qualification) $0 Capital One 360 Are you a student or young adult ages 17 through 23? 1 Plus, pay no monthly maintenance fee on a linked Simple Savings account if you're under 24. The account is mobile- and online-friendly, and you can transfer money to it at any time. 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