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Whether you’re in high school, college or vocational school, a student checking account could be the beginning of a long-term banking relationship.

Student checking accounts are personal checking accounts that offer features intended to appeal to students. These accounts may have fewer fees or other beginner-friendly features.

When you search for the term “student checking accounts,” you may see results for many bank websites, and it can be confusing. Let’s explore the basics of a student checking account, and what you should look for when comparing accounts to decide which one is best for you.

What is a student checking account?

Student checking accounts are bank spending accounts specifically marketed for students. These accounts may be beginner-friendly for student checking account promotions with less banking experience. Here are some ways a student checking account may differ from a regular checking account.

• Age restrictions — Unlike regular checking accounts, student checking accounts may have age limits.
• Must be a student — You may need to show proof of high school, college or vocational school enrollment to qualify for a student checking account.
• Account minimums — While some regular checking accounts have account minimums, student accounts may waive these requirements or offer lower minimums.
• Monthly maintenance fees — Some banks charge a monthly maintenance fee to keep the account active. But many banks allow you to avoid  maintenance fees with student checking account promotions student checking account. 
• ATM fees — There are typically ways to avoid ATM fees with a student checking account. You may have access to a large network of ATMs or reimbursements for ATM fees. 
• Overdraft fees — Student checking accounts may have no overdraft fees or offer overdraft protection by linking another bank account.

Why does a student checking account matter?

As you begin a new semester or school year, a student checking account may not be your top priority. But having one may be a good idea for many reasons. In fact, the Consumer Financial Protection Bureau recommends that students choose a bank account as soon as possible before starting school.

If you’re heading to college, you may rely on your school’s financial aid disbursement to help with tuition, housing costs and books. You generally have multiple options for how you’ll receive financial aid funds, including a paper check, cash a debit card through another bank, or direct deposit.

To expedite the process, you can open a student checking account and set up direct deposit with your school before the semester begins. By setting up direct deposit in advance, you may receive money weeks before the school would send a paper check. Plus, by having funds deposited into an account you chose after comparison shopping for the best offers, you may be able to avoid bank fees that can be associated with a disbursement account. 

A bank account may also be convenient if you want to use online banking for recurring bills like your cellphone. You may also have the option of making peer-to-peer payments, which allow you to transfer money to friends or family without the hassle of writing a check or carrying cash. 

What should I look for in a student checking account?

While a student checking account may be ideal for a beginner, you’ll still need to ask questions and read the fine print to avoid potential pitfalls before you open a bank account. After doing some initial research to find student checking account options, evaluate each account based on these factors (there may be others to consider, too).

• How to qualify — You’ll need to ask about eligibility for each student checking account, including age restrictions and proof of enrollment requirements. Some accounts may only be for college students while others may also be available for high school students.    
• Balance requirements — See if the student checking account has minimum balance requirements to avoid fees. It’s common for student checking accounts to waive minimum balance requirements.
• Maintenance fees — Ask if the bank charges monthly service fees. If so, the bank may waive the fees for student checking accounts if the account holder meets certain 1st wok calhoun village fees — Find out how much it costs to use ATMs. If the bank doesn’t have a network of in-person ATMs, it may reimburse you for fees you’ll likely incur when using a non-network ATM. But keep in mind, the bank may also cap the amount it will reimburse.
• Overdraft fees — Fees for overdrawing your account can be high. Some student accounts may not charge overdraft fees but will decline transactions if you don’t have enough money in your account — which could result in a nonsufficient funds fee. Others may waive a fee on the first overdrawn item. And some may offer overdraft protection, which generally covers a transaction by drawing money from a savings account if you don’t have enough in your checking.
• Other fees — You should always review the bank’s agreement and disclosures to see a complete list of service fees. Some examples of lesser-known fees may include a per-check fee, check printing fee, returned deposit fee, stop payment fee and more.
• Mobile banking and online bill pay — Learn about the bank’s mobile app and options for managing transactions online.

How can I open a student checking account?

Depending on the bank and your age, you may have the option to apply for a student checking account online or in-person. The bank will need to verify your identity to open the account. The process may include confirming your name, date of birth, address and Social Security number. To be eligible for a student checking account, the bank may need proof of your enrollment status through your student ID or acceptance letter.

Next steps: Where can I find a student checking account?

If you’ve never had a bank account before, one option for finding a student account is to check with the bank where your parents have accounts. You can also find student account options with an online search.

When you’re looking for a student checking account, there are plenty of choices, but the best options may have minimal or even no fees. Some fees to watch for include ATM withdrawal fees, monthly maintenance fees and overdraft charges.

Here’s a roundup of some student checking accounts to help get you started.

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Products and their features may change at any time.

This is a general description only. Get complete information about fees.

^† Offer begins on January 29, 2021 at 12:01 am ET. Offer student checking account promotions open to Canadian residents who are not holders or joint holders of a CIBC chequing account. To qualify, open a CIBC Smart™ Account with Smart for Students and provide your email address. Within two (2) months, you must: (i) register for and sign on to CIBC Online Banking or CIBC Mobile Banking; and (ii) complete at least two (2) eligible Visa Debit purchases from the CIBC Smart Student checking account promotions for students. Offer cannot be combined with any other offer, reward or rebate, unless otherwise indicated. The cash reward will be deposited into student checking account promotions account six (6) months after the account was opened. Other conditions apply. For full offer details, review the terms and conditions (PDF, 140 KB)  Opens in a new window.

^◊◊ No purchase necessary. Open January 1, 2021 to December 31, 2021 to legal residents of Canada who are 16 years of age or older and are current students of an accredited Canadian university, college or secondary school. One Grand Prize available to be won consisting of: 

• 1 cheque for $8,750 made payable to the winner; 
• 1 1-year GIC for $8,750 opened in the winner’s name; 
• 1 2-year GIC for $8,750 opened in the winner’s name; and 
• 1 3-year GIC for $8,750 opened in the winner’s name. 

Odds of winning depend on number of eligible entries received. Math skill test required. Refer to the full contest rules (PDF, 145 KB)  Opens in a new student checking account promotions will be picked January 10, 2022. Check full rules for other ways to enter.

^‡ To be eligible for a free SPC membership, you must hold an eligible CIBC product at the time you register for the membership, which you must do through CIBC online or mobile banking. Eligible CIBC products include a CIBC Youth or Student bank account, Student credit card or Student line of credit. A complete list of eligible CIBC products can be found at SPC and CIBC. Joint account holders of eligible CIBC products are not eligible for membership. You must also be a legal resident of Canada who is fourteen (14) years of age or over, but under the age of thirty (30) years if the eligible CIBC product you use to qualify for the membership is a student line of credit. The membership will automatically renew and remain in effect for as long as you hold an eligible CIBC product.

Trade-mark/registered trade-mark of Student Price Card Ltd.

¹ Limit of up to 4 ½ years.

² A transaction includes cheques, withdrawals, transfers, pre-authorized payments, bill payments (including CIBC Credit Cards and CIBC Personal Lines of Credit) and debit purchases. For CIBC eAdvantage Savings Accounts, a transaction does not include transfers to your other CIBC bank account(s) using the transfer function on CIBC Online Banking, CIBC Mobile Banking, CIBC Telephone Banking and at CIBC ATMs. For all accounts, transfers to CIBC-branded loans (excluding CIBC Personal Lines of Credit), mortgages and investments (registered and non-registered) are free. "CIBC-branded” means any brand that has CIBC in its name and is offered by CIBC or its Canadian affiliates (and does not include CIBC Bank USA). Other fees (in addition to any transaction fee) heritage federal newburgh withdrawals from non-CIBC bank machines (rebated for CIBC Smart Plus Accounts except the 2.5% administration fee on the converted amount of foreign currency ATM withdrawals), wire payments, Interac e-Transfer transactions (the Interac e-Transfer fee is waived for CIBC Smart Accounts, CIBC Smart Plus Accounts and for clients who are enrolled in CIBC Advantage for Youth, CIBC Smart for Students, CIBC Smart for Seniors (on the CIBC Smart Account) and CIBC Advantage for Students (on the CIBC Everyday Chequing Account)) and transactions in foreign currency (including cheques written synchrony bank bill pay number currencies other than the account currency).

³ CIBC will rebate one non-CIBC ATM withdrawal fee charge; charges from the other financial institution may apply.

Trademarks

Disclosures

Restrictions and limitations apply to opening deposits and funding methods. Online account opening applies to deposit accounts. Subject to credit approval. Must be 18 years of age. Must be a legal resident of the United States. Must have working device that meets required specifications. Not all products are available for all locations. Not all products are available through online account opening.

Centennial Bank online checking accounts can be opened by:

• Check - Any amount up to product maximum
• Wire - Any amount up to product maximum
• Internal Transfer from Centennial Bank account - Up to $50,000.00 or product maximum (whichever is lower)
• External Transfer from non-Centennial Bank account - Up to $2,500.00 or product maximum (whichever is lower)
• Credit/Debit Card - Up to $500.00 or product maximum (whichever is lower)

Please note: "Additional Offers" accepted during the online application process will be funded with a single transaction and subject to funding method maximum limits based on the combined minimum optum community care network balance of all selected products.

Account Services:

¹Certain transaction fees, limitations and requirements may apply. Please refer to the product terms and conditions or see Bank for details.
²Centennial Bank does not charge you a fee for using Mobile Banking. Your wireless carrier’s data and text message rates may apply.
³See a customer service representative for current rate information, calculation method and to obtain a copy of our Truth in Savings Disclosure.
⁴Customer must present receipt to a teller or banker for reimbursement of ATM fees within 60 days of the ATM Transaction.
⁵Available at most locations. Must have Centennial checking account to receive debit card. Replacement fees and restrictions may apply. See Bank student checking account promotions details.
⁶The bank reserves the right to make the final decision as to whether it will or will not pay any non-sufficient item(s) presented against your account. You will be charged the normal Non-Sufficient Funds/Overdraft handling fee of $35.00 for each item paid as set forth in our current fees schedule — the same as if we returned your check unpaid. Such fees may also be imposed in connection with transactions that overdraw your account, such as in person withdrawals, preauthorized automatic debits, or other electronic transfers. Fees described above may also be imposed on one time debit card or ATM transactions, should you Opt-In to the Federal Reserve issued Regulation E governing these items. You must also bring your account to a positive balance at least once every thirty-one (31) days to maintain your Overdraft Privilege in good standing. In doing so, your overdraft privilege will be automatically reinstated. Your account will be closed if it remains in an overdraft status for a period of sixty (60) consecutive days; however, the closure of your account does not relieve you of the obligation to pay the overdraft balance.

*Registration/activation required

^-Some benefits offered by a third party and require additional contact for initial enrollment. Insurance products not insured by FDIC or any Federal Government Agency. Not a deposit of or guaranteed by the bank or any bank affiliate. May lose value.

^-Identity theft insurance underwritten by insurance company subsidiaries or affiliates of Chartis Inc. The description herein is a summary and intended for informational purposes only and does not include all terms, conditions and exclusions of the policy described. Please refer to actual policy for terms, conditions, and exclusions of coverage. Coverage may not be available in all jurisdictions.

^-Accidental Death & Dismemberment insurance underwritten by insurance company subsidiaries or affiliates of Plateau Insurance Company. The description herein is a summary and intended for informational purposes only and does not include all terms, conditions and exclusions of the policy described. Please refer to actual policy for terms, conditions, and exclusions of coverage. Coverage may not be available in all jurisdictions.

^-Cellular telephone bill must be paid through this account. Special Insurance Program Notes: The descriptions herein are summaries only. They do not include all terms, conditions and exclusions of the policies described. Please refer to the actual policies for complete details of coverage and exclusions. Insurance is offered through the company named on the certificate of insurance.

FREE Checking ¹

It’s easy to see why our FREE Checking remains our most popular account choice; it’s simple, loaded with great features, and FREE!

Open Account

Student Checking

Our Student Checking account is perfect for getting a leg up while in school. It has all the features of our FREE Checking and offers some special features to help you get ahead for the duration of your student status along with the bonus of earning interest on your average daily balance of $700 or more. 

50 Plus Checking ^{2, 4}

Along with all of the features that come with our FREE Checking, you will receive extra FREE services ­— like free cashier’s checks and money orders — so you can choose to bank the way you want.

Open Account

Regular Interest Checking ³

You can boa payoff phone number your money to work for you with our Regular Interest Checking account.  With the bonus of earning interest on your average daily balance of $700 or more, it’s a great way to be rewarded for the balance you’re already carrying in your checking account.

Open Account

VISA ^®Debit Card

Your First Federal VISA^® Debit Card is accepted for payment worldwide. You can get your VISA^®debit card issued instantly at any First Federal location.

Other FREE Services

Switch to First Federal

Now you can easily move recurring payments and direct deposits to a new account - all with the click of a mouse. With ClickSWITCH™ account information is transferred instantly. It’s fully automated, convenient, and takes as little as 10 minutes. Click here to find out more!

¹ This account is free in the context of there being no monthly service charge. Overdraft protection, returned checks, and other optional services may result in fees and other charges.

² Limit of two (2) free boxes of basic checks per year.

³ Must maintain $100 minimum daily balance to avoid $8 monthly service charge.

⁴ Must be 50 or older.

Apple, the Apple logo, iPhone, and iPad are trademarks of Apple Inc., registered in the U.S. and other countries. Apple Pay, Touch ID, and Apple Watch are trademarks of Apple Inc.

¹Webster Premier Checking: Minimum opening deposit of $500 is required. You can avoid a $21.95 monthly maintenance fee by keeping $20,000 in combined monthly average checking, money market, and savings balances or $50,000 by adding CDs, home equity, and installment loan balances (excludes mortgages, refinanced student loans and savings secured loans) as of the end of your statement period; and monthly average investment balances (excluding the last day of the month). Fees may reduce earnings. Premier Checking is a tiered rate product. The tiers are $0 to $2,499.99, $2,500 to $9,999.99, $10,000 to $24,999.99, $25,000 to $49,999.99, and $50,000 and over. The APY (Annual Percentage Yield) for Premier Checking as of 06/01/2021 is 0.01% for balances of $0.01 to $49,999.99 and 0.01% for balances $50,000.00 and over, and is subject to change at any time. Tax reporting may apply. Product features are subject to change at any time.

Premier Checking ATM Benefits: Webster will not charge any fees for checking withdrawals at non-Webster ATMs. Chase southwest rewards credit card you are charged a fee by another bank for checking withdrawals at its ATM, we will rebate the fee.

²Webster Value Checking: Minimum opening deposit of $50 is required. You can avoid the $11.95 monthly service fee when you meet ONE of the following during your monthly statement cycle: a) maintain a monthly average balance of at least $1,000; b) are age 65 or older and have at least one direct deposit; OR c) have cumulative direct deposits of $500 or more each month. Delivery of statements electronically is free; those accounts not enrolled in Statement eDelivery will receive a $2 monthly paper statement fee. This fee is waived for account holders age 65 and older or 18 and younger.

³WebsterOne^® Relationship Checking: Minimum opening deposit of $50 is required. You can avoid a $16.95 (or $14.95 with direct deposit) monthly maintenance fee by keeping $4,000 in combined average checking, money market and savings balances during your monthly statement period or $20,000 adding CD, home equity and installment loan balances (excludes mortgages, refinanced student loans and savings secured loans) as of the end of your statement period. Rates and fees may vary by state and region; fees may reduce earnings. The APY (Annual Percentage Yield) for WebsterOne Relationship Checking is subject to change at any time.

⁴Webster Student Checking: Minimum opening deposit of $50 is required. No monthly service charge for 5 years after opening or switching to this account. After 5 years, it will convert to Webster Value Checking. A valid student ID is required; if it is not provided within 60 days of account opening account will convert to Webster Value Checking. You must be at least 18 years old to open an individual checking account at Webster. A student at least 15 years old may open a joint Student Checking account with another individual who is at least 18 years old. Each joint owner has full control over the account and is responsible for the activity of the other owner, including the activity of a minor who is a joint owner. See your Deposit Account Disclosures for more details on Joint Ownership Accounts.

Student Checking ATM Benefits: Per statement cycle, Webster will not charge for up to 4 ATM fees associated with using non-Webster ATMs. If you are charged a fee by another bank for using its ATM, we will rebate 1 fee per statement cycle. Product features are subject to change at any time. Insufficient Available Funds Fees: 1 fee will be rebated per academic year (September to August).

⁵Opportunity Checking: Minimum opening deposit of $50 is required. The monthly service charge will be $16.95 (or $11.95 with direct deposit). Visa debit card purchases using the "credit" option are limited to $250 per calendar day. Other miscellaneous fees may apply. Delivery of statements electronically is free; those accounts not enrolled in Statement eDelivery will receive a $2 monthly paper statement fee. This fee is waived for account holders age 65 and older or 18 and younger.

^*Special Loan Discounts – Automatic Loan Payment Offer: Customers with any personal Webster checking account are eligible to receive an automatic payment rate discount on Home Equity Loans and Lines, Mortgages and Personal Loans. To receive the rate discount, an automatic payment deduction (ACH) is required from your Webster Bank personal checking account. This discount does not apply to Government Assisted Mortgages. Mortgages over $1,000,000 are not eligible for the discount.

All loans and lines student checking account promotions subject to the credit approval process. Product features, APY and/or offers are subject to change without notice and may be withdrawn at any time. Rates and fees may vary by state and region. Other restrictions may apply. Cannot be combined with any other offers from Webster or its affiliates. See a banker for details. Tax reporting may apply. Other miscellaneous fees may apply and reduce earnings.

^**Delivery of statements electronically is free; accounts not enrolled in paperless statements will receive a $2 monthly paper statement fee. This fee is waived for account holders 8 and younger or 65+.