Best Banks for College Students

While you are in college, your main focus is your academic education and that’s great, but this should also be an opportunity for you to start working towards financial independence. The first step? Opening a bank account. So, let's check out the best banks for college students.

Choosing the best bank for you is a huge task. There are so many things to take into consideration that it can sometimes be a little bit overwhelming. To help you decide, here’s a list of the best banks that offer excellent student-friendly features:



This one stands out as the best option for students. For starters, as long as you are in college (only up to 5 years), they won’t charge you any monthly fee on their Chase College Checking Account. Additionally, the usually offer great and enticing extra bonuses. In May, for example, they offered new customers a $100 bonus for opening a College Checking Account.
A great perk is that you will have access to physical ATMs and branches as well as mobile and online banking features.  

Bank of America

2. Bank of America

Bank of America won’t charge monthly maintenance fees to students under 24 who open a Bank of America’s Advantage SafeBalance account while they are enrolled in school. This account, however, does not offer paper checks, but you can make online payments, use a debit card for purchases or send and receive funds with Zelle. Also, you have access to physical ATMs, branches and mobile app.

3. Discover

This one is an excellent option because it offers unique rewards on debit card purchases, even though it’s not technically a student’s account. If you pay for most of your expenses using a debit card, this perk is especially beneficial to you.
Discover also offers features such as no monthly maintenance fee and no minimum balance requirement.

4. Ally

Ally, like Discover, does not offer a specific student account, but they still offer all the features a student is looking for. Also, as it is a 100% online bank that is best known for its interest checking and savings account with no monthly fees. As there are no branch-related expenses, they usually pay more interest than other banks.

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