I am a student--what is the best BANK for me to choose for savings and checking?

Question

I have $8000 i want to put in savings, and $1000 i want to put into a checking account. What is the best bank (easy access, free ATM charge, little or no monthly fee).

Answer 1

Bank of America has a good program for students. Go to:
http://www.bankofamerica.com/state.cgi?section=generic&update=&cookiecheck=yes&context=&cd_bag=&sa_bag=&ch_bag=&destination=nba/deposits/checksave/index.cfm?template=lc_faq_staccts

Answer 2

This is a difficult question without knowing where you live and what banks are close by, but here my thoughts. Nationwide and statewide banks have more branches and so easier access to ATMs. Many have free student checking accounts. Credit unions and local banks (small towns) offer more personal service.

My current favorite is Citibank for two reasons. In addition to their branches, they have ATMs at most 7-11 stores. Second, they offer 5% interest on their E-Savings account with no minimum balance required. Hopefully, this is not a teaser interest rate and will last for a while. With your savings or a student checking account, you should be able to avoid monthly service charges, but check with them first. Also, check out the link below for other suggestions.

Good luck and keep on saving!

Answer 3

Chances are that you will need student loans sometime or another so I would use the bank that you would get loans from.

Personally I went with KEY bank and then I used a local credit union for all my everyday banking. So if i were you i would put $4000 in a CD with KEY, then I would put the other $4000 into a savings account with KEY, and then i would put the $1000 in a SAVINGS account at the credit union. The reason that I would use a SAVINGS account for your living money is that it gets a better interest rate, and most credit unions don't put limitations on the number of transactions that can be done, and there is not monthly fee.

good luck!

Answer 4

So you have $8,000 you wanna put in savings... okay, try putting them in ING Orange savings account. Currently their interest rate is like 4.35% annually, which means you'll earn about $30 (more or less) per month on interest alone, or about $350 a year. This is better than what most bank offers.

Oh, almost forgot. They also do NOT charge you monthly fee on the Orange savings account.

I'm not sure about the checking but for that you could just open up a checking account else where, like Citibank. The nice thing about ING is that you can set it up online so that your Citibank checking account (assuming you gonna open one up with them) is linked to your ING Orange savings account, so you could transfer money in or out in between these two accounts (even though they are different banks). It's pretty cool.

I keep adding on this:
Okay, besides Citibank, another great bank to open up your checking account is First Republic Bank (FRB), specifically their ATM Rebate Checking account. FRB do not have lots of ATM around, but it's okay b/c you could get cash out of ANY ATMs and if you get charged $2, $3 or $4 or whatever these ATMs charge you, FRB will give it back to you at the end of the month (hence it is called ATM Rebate checking account)... sweet huh? So you never have to pay these ATM fees anymore! They themselves never charged any ATM fee on anyone. They also don't charge monthly fee, but there is a catch... your minimum daily balance is $2,500, otherwise you won't get these perks. Oh, and you could also linked your FRB checking account to your ING Orange savings account if you decide to open up one.

Answer 5

If you Live in Indiana. Star Financial Bank has a good free checking account. That account comes with a debit MasterCard that can be used almost anywhere. As of right now there is no pin purchase fees or no monthly fees. Just a note. Do not zero out your account or you will lose your debit card privileges. They are real good to work with. Also this checking account does have overdraft protection if you are eligible.

Answer 6

Many banks offer free student checking...from experience however I would say that either Wells Fargo or Bank of America have the best accounts for students and are in the most places...and Bank of America offers a free fee refund if you mess up once...

Answer 7

You can try US BANK if you have one in your area. They are open 7 days a week. Monday to Friday 10am to 7pm and on sat. and sun. from 11am to 5pm.
There are no fees.

Answer 8

Them all - put a few $£ into each of the accounts - take their freebies - get them to give you all the handouts - loans credit cards run up as much debt as possible - Then do a Bunk..

Answer 9

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Answer 10

try online banking.. how bout everbank.com or netbank.com.. better interest rates and they reimburse u for atm fees...