Home > Student Loans > Top 11 Banks for College Students

Comments 0 Comments

Between attending classes, joining clubs and pledging fraternities and sororities, college students across the country are wondering, “Hmm. Where should I bank?”

Okay, maybe picking a bank is not so high on their to-do list, but it should be. As we know, credit unions and community banks offer some of the best and lowest fees around. And now the folks at MoneyRates.com have helped make the process a bit easier with their new list of the Best Checking Accounts for College Students.

1. Bank of the Commonwealth Student/Senior Citizen Checking

For students located in Virginia and Northeastern North Carolina locations, Bank of the Commonwealth requires a minimum $50 to open an account but after that you have virtually no other fees, except for the $2.00 out of network ATM fee.

2. Cathay Bank College Checking

Servicing the residents of California, Illinois, Massachussetts, New Jersey, New York, Texas and Washington, Cathay Bank charges a mere minimum initial deposit is $10. After that checking account holders receive free bill pay, free online banking and all incoming wire fees are waived.

3. Fifth Third Bank Student Checking

No minimum balance required and no monthly service fees. Plus, Fifth Third Bank gives 5 free non-Fifth Third ATM transactions each month.

4. First Bank of Colorado Student Package

Students in Colorado may want to check out First Bank’s Free Checking and Free Regular Savings package for students. It has no minimum balance and no monthly service charge for the first five years.

5. M&T Bank College Checking

There’s no minimum balance requirement, no monthly service fee and free access to up to 4 non-M&T ATM transactions per month. M&T Bank account holders also receive free incoming foreign and domestic wire transfers.

6. Regions Bank LifeGreen Checking for Students

Initial deposit to open the account is $50. If you have a LifeGreen Checking Account for Students are 25 years old or under, your monthly fee will be waived. You also receive free online and mobile banking services.

7. Sovereign Bank Student Checking

College students in Northeastern states can take advantage of Sovereign Bank Student Checking accounts, which have no minimum balance requirement, no monthly fee and free one-way deposit transfers from a parent’s account. Your first order of checks is also free of charge.

8. Susquehanna Bank Student Checking

Available to students enrolled in an educational institution, Susquehanna Bank Student Checking has no minimum daily balance requirement and no monthly maintenance fee. Customers also benefit from unlimited check writing.

9. TD Bank TD Student

For full-time students between 18 and 25, TD Bank’s TD Student checking account offers no monthly maintenance fee or minimum daily balance requirement. Your first order of checks free is free. You also get one overdraft fee automatically refunded per academic year (September-August). But of course, if you opt out of overdraft protection, you never have to worry about fees!

10. US Bank Student Checking

US Bank Student Checking account holders need a minimum $25 deposit. After that, they pay no monthly maintenance fee. They also receive 4 free non-U.S. Bank ATM transactions per statement cycle and a free first round of bank checks.

11. Valley National Bank Student Reward Checking

Student customers at Valley National Bank need no minimum opening balance $25 and pay no monthly service fee. There are also no ATM fees at Valley ATMs; at non-Valley ATMs, we’ll credit a maximum of $6.00 per month and waive our normal $1 non-Valley ATM withdrawal fee. There’s also a current promotion where if you open a qualifying checking account with a minimum deposit of $100, you’ll receive $75 cash reward when you sign up for Mobile Banking and $75 when you initiate a monthly direct deposit such as a payroll.

Comments on articles and responses to those comments are not provided or commissioned by a bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by a bank advertiser. It is not a bank advertiser's responsibility to ensure all posts and/or questions are answered.

Please note that our comments are moderated, so it may take a little time before you see them on the page. Thanks for your patience.

Credit.com receives compensation for the financial products and services advertised on this site if our users apply for and sign up for any of them.

Hello, Reader!

Thanks for checking out Credit.com. We hope you find the site and the journalism we produce useful. We wanted to take some time to tell you a bit about ourselves.

Our People

The Credit.com editorial team is staffed by a team of editors and reporters, each with many years of financial reporting experience. We’ve worked for places like the New York Times, American Banker, Frontline, TheStreet.com, Business Insider, ABC News, NBC News, CNBC and many others. We also employ a few freelancers and more than 50 contributors (these are typically subject matter experts from the worlds of finance, academia, politics, business and elsewhere).

Our Reporting

We take great pains to ensure that the articles, video and graphics you see on Credit.com are thoroughly reported and fact-checked. Each story is read by two separate editors, and we adhere to the highest editorial standards. We’re not perfect, however, and if you see something that you think is wrong, please email us at editorial team [at] credit [dot] com,

The Credit.com editorial team is committed to providing our readers and viewers with sound, well-reported and understandable information designed to inform and empower. We won’t tell you what to do. We will, however, do our best to explain the consequences of various actions, thereby arming you with the information you need to make decisions that are in your best interests. We also write about things relating to money and finance we think are interesting and want to share.

In addition to appearing on Credit.com, our articles are syndicated to dozens of other news sites. We have more than 100 partners, including MSN, ABC News, CBS News, Yahoo, Marketwatch, Scripps, Money Magazine and many others. This network operates similarly to the Associated Press or Reuters, except we focus almost exclusively on issues relating to personal finance. These are not advertorial or paid placements, rather we provide these articles to our partners in most cases for free. These relationships create more awareness of Credit.com in general and they result in more traffic to us as well.

Our Business Model

Credit.com’s journalism is largely supported by an e-commerce business model. Rather than rely on revenue from display ad impressions, Credit.com maintains a financial marketplace separate from its editorial pages. When someone navigates to those pages, and applies for a credit card, for example, Credit.com will get paid what is essentially a finder’s fee if that person ends up getting the card. That doesn’t mean, however, that our editorial decisions are informed by the products available in our marketplace. The editorial team chooses what to write about and how to write about it independently of the decisions and priorities of the business side of the company. In fact, we maintain a strict and important firewall between the editorial and business departments. Our mission as journalists is to serve the reader, not the advertiser. In that sense, we are no different from any other news organization that is supported by ad revenue.

Visitors to Credit.com are also able to register for a free Credit.com account, which gives them access to a tool called The Credit Report Card. This tool provides users with two free credit scores and a breakdown of the information in their Experian credit report, updated twice monthly. Again, this tool is entirely free, and we mention that frequently in our articles, because we think that it’s a good thing for users to have access to data like this. Separate from its educational value, there is also a business angle to the Credit Report Card. Registered users can be matched with products and services for which they are most likely to qualify. In other words, if you register and you find that your credit is less than stellar, Credit.com won’t recommend a high-end platinum credit card that requires an excellent credit score You’d likely get rejected, and that’s no good for you or Credit.com. You’d be no closer to getting a product you need, there’d be a wasted inquiry on your credit report, and Credit.com wouldn’t get paid. These are essentially what are commonly referred to as "targeted ads" in the world of the Internet. Despite all of this, however, even if you never apply for any product, the Credit Report Card will remain free, and none of this will impact how the editorial team reports on credit and credit scores.

Your Stories

Lastly, much of what we do is informed by our own experiences as well as the experiences of our readers. We want to tell your stories if you’re interested in sharing them. Please email us at story ideas [at] credit [dot] com with ideas or visit us on Facebook or Twitter.

Thanks for stopping by.

- The Credit.com Editorial Team