As a student, it may not be a smart idea to carry all your cash in hand, and it is important to have a bank account to keep your savings and allowances safe. There are two kinds of accounts every student needs: a savings account to save money and a checking account for everyday expenses. Here are the different bank accounts for students to choose from in the country:
- Bank of America: On the list of the different bank accounts for students, Bank of America’s checking account has the top spot. The bank has two account options: Advantage SafeBalance and Advantage Plus. The minimum deposits required to open the accounts are $25 and $100, respectively. This bank levies zero monthly service fees for full-time students who are under 24. Also, the “Keep the Change” savings program of the bank rounds off your purchase to the nearest dollar and transfers the extra cash to your account when you use their debit card.
- Chase: Chase is considered one of the different bank accounts that are beneficial for students because of its lucrative opening perks. New student account openers can get up to $100, and you can also enjoy a zero service fee for up to 5 years of college. The bank also has up to 16,000 ATMs all over the country, making it easy to opt for zero withdrawal fees. Also, Chase QuickPay will help you transfer money easily to different banks.
- Toronto-Dominion (TD) Bank: The minimum deposit to open an account with the TD bank is zero if you are a student. You can also enjoy zero service fees if you are under 24 and a full-time student. Additionally, this bank offers a free overdraft protection option to its customers. Not to mention, you can also send and receive money online for no fees using Zelle digital payment app.
- Wells Fargo: Wells Fargo makes it to the list of the top different bank accounts for students for its 24*7 fraud monitoring feature and its zero liability protection factor. The bank has a $25 minimum deposit fee for creating an account, and it charges no monthly service fee for students under 24 years of age. You can also use the services of its 13,000 ATMs across the country.
- HSBC USA: This bank offers up to 6 years of no service fees for students and caters to both domestic and international students in the country. You also get a $100 welcome deposit when you open an account with this bank.
These different bank accounts for students are advantageous in their own ways and also provide students with regular financial relaxations. Ensure that you open a savings and a checking account with one of these banks to handle your finances better.