Along with shopping for bed linens, a mini-fridge and the perfect dry-erase board for a dorm room, a college student should do some shopping for something even more important: the best student bank account.
Whether you're a high school or college student, the best student checking accounts have low or no fees, easy ATM access near your school and comprehensive online and mobile platforms so you can track your money on the go. GOBankingRates surveyed checking accounts to determine which ones are most student-friendly.
Each of the accounts that made the cut offers the following benefits for students:
Online and mobile banking
No monthly fee
No minimum balance required
If you're looking for the best bank account for students, these financial institutions offer the 10 best free checking accounts:
Navy Federal Credit Union Campus Checking
BB&T Student Checking
TD Bank Student Checking
Purdue Federal Credit Union Free Student Checking
1st Source Bank e-Student Checking
USAA College Checking
U.S. Bank Student Checking
Santander Bank Student Value Checking
Bank of America Core Checking
Chase Bank College Checking
Related: 10 Best Banks for College Students
Checking Account
Min. Deposit
Additional Perks
How to Apply
Navy Federal Credit Union Campus Checking
$0
ATM fee rebates up to $10 per statement; monthly credited dividend earnings; free checks
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BB&T Bank Student Checking
$0
Free online statement and unlimited automated account info; two free customer service calls per month
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TD Bank Student Checking
$0
Discount on first check order; discount on TD home loans; live customer service 24/7
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Purdue Federal Credit Union Free Student Checking
$25
Earn $5 per month for using your Visa debit card 30 or more times; custom account alerts; find ATMs with your phone
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1st Source Bank e-Student Checking
$15
10 free bill payments per month, free overdraft fee refund per year, three free ATM withdrawals from other banks, family can transfer or deposit money in account
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USAA Bank College Checking
$25
Free use of 60,000 ATMs nationwide; free transfers, bill payments and direct deposits
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U.S. Bank Student Checking
$25
Switch to free, online statements from paper to save $2; first check order free; free credit score access
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Santander Bank Student Value Checking
$10
Account waives monthly free of other Santander savings accounts; eStatements are free; customize banking alerts from phone or computer
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Bank of America Core Checking Account
$25
No fee for using B of A ATMs; $O liability guarantee; monthly maintenance fee waived for students
Learn More
Chase Bank College Checking
$25
16,000 ATMs and 5.200 branches; 24/7 customer service
Learn More
For a closer look at the 10 best free student checking accounts, read on.
Navy Federal Credit Union Campus Checking
Minimum deposit: $0
Monthly fee: $0
Minimum balance to avoid service fee: $0
Online and mobile banking: Yes
Navy Federal Credit Union Campus Checking features no minimum opening deposit requirement or monthly fees for students from 14 to 24 years old, and the account earns dividends at a rate of 0.05% APY. To join Navy Federal Credit Union, you must be a current or former member or employee of the Department of Defense, the U.S. Coast Guard or the National Guard. You're also eligible if a family member is already a member of Navy Federal Credit Union.
Students might find these Campus Checking benefits attractive:
Reimbursement of up to $10 per statement period for using ATMs outside of credit union's 55,000-machine network
Free checks and debit card with each account
0.05% APY interest rate
BB&T Student Checking
Minimum deposit: $0
Monthly fee: $0
Minimum balance to avoid service fee: $0
Online and mobile banking: Yes
BB&T Bank has branches in Texas and the Southeast U.S., and its student checking account is available for students who are 23 years and younger. The account comes with a BB&T debit card and a limited number of free, non-BB&T ATM transactions per statement cycle, depending on the state in which you reside.
Other benefits of the Student Checking account from BB&T include:
Free online statement access
Access to personal financial management tools
TD Bank Student Checking
Minimum deposit: $0
Monthly fee: $0
Minimum balance to avoid service fee: $0
Online and mobile banking: Yes
The TD Student Checking account is available for full-time students under the age of 24 and doesn't require a minimum initial deposit to open. The account also comes with a free debit card and a discount on your first check order.
Students can benefit from other TD Bank perks like:
Discount on TD home loan
Free access to thousands of ATMs in the U.S. and Canada
Overdraft protection services available with transfer fees waived
Free online statements
24/7 live customer service
Purdue Federal Credit Union Free Student Checking
Minimum deposit: $25
Monthly fee: $0
Minimum balance to avoid service fee: $0
Online and mobile banking: Yes
Open a Purdue Federal Credit Union Free Student Checking account and enjoy mobile check deposit, paperless statements, customizable account alerts and ability to use your account via Apple Pay. To become a member of the credit union, you must either attend Purdue University or be a business affiliate of the school. Getting started with this account is easy: Walk into a branch to sign up for Free Student Checking and you'll walk out with your debit card.
Other details students can appreciate include:
Bonus of $5 per month just for using your Visa debit card 30 or more times per month
More than 30,000 charge-free ATMs and 4,000 nationwide branches
Learn: 21 Budgeting Tips for College Students
1st Source Bank e-Student Checking
Minimum deposit: $15
Monthly fee: $0
Minimum balance to avoid service fee: $0
Online and mobile banking: Yes
1st Source is an online bank that offers its e-Student Checking account to high school and college students between the ages of 16 and 24; the account has no monthly maintenance fees and no minimum balance requirements. Account holders get one free overdraft fee refunded every year and up to a $15 credit per month for ATM transactions they make at other banks. In addition, account holders can make 10 free bill payments per month.
This student checking account from 1st Source Bank also includes:
Ability for family members can transfer or deposit money into your account
Discounted rate on your first car loan
Free usage of Popmoney to pay people via text or email
USAA Bank College Checking
Minimum deposit: $25
Monthly fee: $0
Minimum balance to avoid service fee: $0
Online and mobile banking: Yes
In addition to offering 10 free, monthly withdrawals from its network of more than 60,000 ATMs, USAA will refund up to $15 for other U.S. banks' ATM usage fees. This student checking account has no monthly service fees or minimum balance requirements. You'll need to make a minimum $25 opening deposit for your USAA College Checking account, however.
The College Checking account from USAA Bank also provides:
Access to free mobile apps
Membership that's open to current and former U.S. military members and their families
Membership that's open to cadets and midshipmen at U.S. service academies, ROTC scholarship students and advanced ROTC members
U.S. Bank Student Checking
Minimum deposit: $25
Monthly fee: $0
Minimum balance to avoid service fee: $0
Online and mobile banking: Yes
The U.S. Bank Student Checking account is a fee-free option for students who choose to receive online statements -- paper statements cost $2 each. Account holders can take advantage of ScoreBoard, a personal finance management tool that helps students budget and manage expenses.
Students with this U.S. Bank checking account also enjoy:
Free use of U.S. Bank ATMs
Four free transactions at non-U.S. Bank ATMs per statement cycle
Free box of checks
Access their credit score for free
Access to ScoreBoard, a budgeting tool
Santander Student Value Checking
Minimum deposit: $10
Monthly fee: $0
Minimum balance to avoid service fee: $0
Online and mobile banking: Yes
Santander offers its Student Value Checking to students between the ages of 16 and 25. Your account comes with no minimum balance requirements or monthly charges. You can also take advantage of free, online tools to help you manage your money. Account holders can opt for e-statements to avoid a $3 charge per paper statement.
With the Student Value Checking account, students can take advantage of other Santander benefits, including:
Customizable alerts
Waived fees for Santander Savings or Santander Money Market Savings accounts
Bank of America Core Checking
Minimum deposit: $25
Monthly fee: $0
Minimum balance to avoid service fee: $0
Online and mobile banking: Yes
Bank of America offers a simple checking account solution for students. For enrolled high school, college and vocational students under the age of 23, the account is free to use and comes with a free debit card. That card also comes with chip technology for added security, plus fraud monitoring. If you misplace your Bank of America debit card, you can easily lock it so it can't be used, then unlock it when you find it.
The Core Checking account also provides:
Free use of Bank of America ATMs
Mobile check deposit capability
$0 liability guarantee for lost or stolen cards
Account alerts
See: 12 Best Budget Apps to Help You Save Money
Chase Bank College Checking
Minimum deposit: $25
Monthly fee: $0
Minimum balance to avoid service fee: $5,000
Online and mobile banking: Yes
You can open a Chase Bank College Checking account if you are between 17 and 24 years old and have proof of student status. You can also get the $6 monthly maintenance fee waived for up to five years as long as you are enrolled in college; you can avoid the fee after that if you have direct deposit or maintain an average daily balance of $5,000 or more.
The College Checking account also provides:
Free access to Chase Bank's 16,000 ATMs and 5,200 branches
Ability to link a Chase savings account as backup for your checking account to help pay any overdraft transactions that might occur
Student Checking Perks
With so many good checking accounts available for students, it makes sound financial sense to take advantage of one if you're in college or high school. Not only do most banks with free checking accounts offer lots of freebies -- including no maintenance fees, online and mobile banking and low or no ATM fees -- they can help you get used to taking care of your financial responsibilities now so that when you're working full-time you'll have your system down pat.
To determine the best free student checking accounts, GOBankingRates scored each checking account from most to least favorable for the following factors: (1) interest rate; (2) minimum deposit to open the checking account; (3) monthly maintenance fee; (3) minimum balance to avoid a fee; (4) ATM access; (5) access to online banking; (6) access to mobile banking; and (7) benefits for students.
GOBankingRates is a personal finance and consumer interest rate website owned by ConsumerTrack, Inc., an online marketing company serving top-tier banks, credit unions, and other financial services organizations. Some companies mentioned in this article might be clients of ConsumerTrack, Inc., which serves more than 100 national, local and online financial institutions. Rankings and roundups are completely objective, and no institution, client or otherwise, paid for inclusion or specific placement. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author's alone and have not been reviewed, approved, or otherwise endorsed by the companies included in the article.
This article originally appeared on GOBankingRates.com: 10 Free Student Checking Accounts