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Having a student checking account can help you establish financial independence and build your money management skills while in college. The best of these accounts offer features beneficial to the typical money-strapped and on-the-move college student: low fees and minimums and easy access to cash. Some accounts even pay a little interest.
We’ve compared 29 checking accounts at 24 nationally available banks and credit unions to find some of the best accounts available for students. See below to learn more about why we picked each account, its pros and cons, and to access individual bank reviews. Not all 10 accounts shown on this list are student-specific, yet all of them offer features and fee structures that can benefit students.
Annual percentage yields (APYs) and account details are accurate as of June 5, 2025.
For Ages
18+
Annual Percentage Yield
Up to 3.30%
on balances up to $50,000
Minimum Deposit Requirement
$0
18+
Up to 3.30%
on balances up to $50,000
$0
We picked the Axos Bank Rewards Checking account because it gives customers access to 91,000 ATMs throughout the country, with the added bonus of unlimited fee reimbursements for out-of-network ATM use in the U.S.
Why We Like It
We like this account because it boasts few fees and low minimums. It requires a minimum deposit of just $0 and has no overdraft or non-sufficient funds (NSF) fees. The account even pays interest.
What We Don’t Like
We don’t like that this account requires students to meet high direct deposit minimums to earn any interest. Many will have trouble satisfying the numerous eligibility requirements to qualify for the highest advertised APY (see Details).
Who It’s Best For
This account is best for students who need frequent and easy access to cash. It’s ideal for existing Axos customers and those interested in opening more accounts with the bank.
The Axos Rewards Checking account has interest tiers that allow an account holder to earn up to 3.30% APY. These are the steps required to build the highest APY:
Axos offers 24/7 customer service via phone and secure online messaging. The site also has a live chat feature available during regular business hours.
Its mobile banking app, available on the App Store and on Google Play, is highly rated and an excellent tool for the fast-paced lifestyle of a student.
For Ages
18+
Annual Percentage Yield
N/A
Earn 1% cash back on up to $3,000 in debit card purchases each month. See website for details.
Minimum Deposit Requirement
$0
18+
N/A
Earn 1% cash back on up to $3,000 in debit card purchases each month. See website for details.
$0
We chose the Discover Bank Cashback Debit Checking account because it rewards students with cash back when they spend. The account offers 1% cash back on up to $3,000 in debit card purchases each month. See website for details.
Why We Like It
We like that Discover has a well-rated mobile app for iOS and Android, and it keeps fees to a minimum. You won’t pay a monthly maintenance fee, NSF or overdraft fee or a fee for using an out-of-network ATM with Cashback Debit Checking. You’ll also get official bank checks at no charge.
What We Don’t Like
We don’t like that this account caps the amount you can earn in cash back. However, this may not concern many students because the cap is relatively high.
Who It’s Best For
This account is best for students who want a fee-free cash-back checking account. If you plan to use your debit card a lot, consider this pick.
Consumer Sentiment Index
Based on 52,464 customer insights and reviews for the entire category.
Users, in general, are neutral on their experience with the Discover Cashback Debit checking account. Many mention the cashback feature and general lack of fees as positives, as well as the bank’s customer service. However, some customers were dissatisfied with the lack of multi-factor authentication and issues with the mobile app more broadly.
Disclaimer: The Consumer Sentiment Index from Forbes Advisor uses a proprietary weighting system designed by our subject matter experts. It evaluates thousands of consumer insights and reviews from leading online forums to determine customer satisfaction at scale.
For Ages
8+
with a parent or legal guardian
Annual Percentage Yield
0.10%
Minimum Deposit Requirement
$0
8+
with a parent or legal guardian
0.10%
$0
We chose the Capital One MONEY Teen Checking account because it offers perks for high school students under the age of 18. It has no minimum deposit requirement, few fees and an extensive ATM network. At 18, you can switch to a regular Capital One 360 checking account.
Why We Like It
We like this account because you can divide your balance between using and saving with Spendable and Set Aside categories and savings goals. Teens can access their accounts using Capital One’s highly-rated mobile app or website. MONEY Teen Checking also earns 0.10% APY, which is better than nothing.
What We Don’t Like
We don’t like that this account is not available to college students. If you’re already in college, consider one of the other options on this list.
Who It’s Best For
This account is best for high school students who want their own interest-bearing checking accounts, especially those with savings goals.
Children ages eight and older can open a joint MONEY Checking account with a parent or legal guardian. Once they turn 18, they can continue to use their MONEY account or open a Capital One 360 Checking account and transfer the balance to the new account.
Capital One has 24/7 customer service available, along with excellent digital tools for managing your money to achieve your financial goals.
The account’s debit card can be used at more than 70,000 Capital One, MoneyPass and Allpoint ATMs. Capital One also maintains a limited number of branches and Capital One Cafés for those interested in visiting a physical location.
For Ages
18+
Annual Percentage Yield
Up to 0.25%
Minimum Deposit Requirement
$0
18+
Up to 0.25%
$0
We picked the Ally Bank Spending Account because it makes budgeting and saving easy. To avoid overspending, you can use Spending Buckets to categorize your money and set funds aside for different purposes.
Why We Like It
We like that the Ally Bank Spending Account has few fees—including no monthly maintenance fee, overdraft fee, transfer fee or fee for most wire transfers—and it pays 0.10% annual percentage yield (APY) on checking accounts with less than a $15,000 minimum daily balance, and 0.25% APY for accounts with minimum daily balances of $15,000 or more APY on any balance.
What We Don’t Like
We don’t like that you can’t deposit cash with Ally, even at in-network ATMs, which is something you can do with many online-only banks.
Who It’s Best For
This account is best for students who want to keep their spending in check with budgeting tools. Pairing this checking account with an Ally Savings Account is also a good choice for young adults looking to save more.
Consumer Sentiment Index
Based on 52,464 customer insights and reviews for the entire category.
Users appreciate that Ally Bank’s Spending Account offers a higher interest rate than what you can find from a traditional bank and that it provides money management tools, such as its buckets feature, that help them keep track of their finances. Users, though, have complained about long wait times, account issues and communications issues. But overall, customers are relatively satisfied.
Disclaimer: The Consumer Sentiment Index from Forbes Advisor uses a proprietary weighting system designed by our subject matter experts. It evaluates thousands of consumer insights and reviews from leading online forums to determine customer satisfaction at scale.
For Ages
18+
Annual Percentage Yield
None
Minimum Deposit Requirement
$0
18+
None
$0
We chose the Chime Checking Account because it offers fee-free overdrafts with a generous limit. Chime’s SpotMe®¹ feature allows you get fee-free overdraft up to $200¹ on debit card purchases and cash withdrawals with qualifying direct deposit activity.
Why We Like It
We like this account because it keeps fees to a minimum and includes access to early direct deposits². Qualifying for early pay and SpotMe is as easy as having your paycheck sent to this account.
What We Don’t Like
Chime doesn’t offer interest or cash-back rewards on its Checking Account like many other options on this list.
Who It’s Best For
Chime’s Checking Account is best for students who overdraft often and may need the extra help afforded by early paychecks. It is ideal for individuals with direct deposit activity.
Chime is a financial technology company, not a bank. Banking services provided by The Bancorp Bank, N.A. or Stride Bank, N.A., Members FDIC.
¹SpotMe® for Credit Builder is an optional, no interest/no fee overdraft line of credit tied to the Secured Deposit Account; SpotMe on Debit is an optional, no fee service attached to your Chime Checking Account (individually or collectively, “SpotMe”). Eligibility for SpotMe requires $200 or more in qualifying direct deposits to your Chime Checking Account each month.
Qualifying members will be allowed to overdraw their Chime Checking Account and/or their Secured Deposit Account up to $20 in total, but may be later eligible for a higher combined limit of up to $200 or more based on member’s Chime account history, direct deposit frequency and amount, spending activity and other risk-based factors. Your SpotMe Limit will be displayed to you within the Chime mobile app. You will receive notice of any changes to your SpotMe Limit. SpotMe for Credit Builder and SpotMe on Debit share a single SpotMe limit. Your SpotMe Limit may change at any time, at Chime or its banking partners’ discretion. Although there are no overdraft fees, there may be out-of-network or third party fees associated with ATM transactions or OTC cash withdrawal fees at retailers. SpotMe won’t cover non card transactions, including ACH transfers, Pay Anyone transfers, or Chime Checkbook transactions. SpotMe Terms and Conditions.
²Early access to direct deposit funds depends on the timing of the submission of the payment file from the payer. We generally make these funds available on the day the payment file is received, which may be up to 2 days earlier than the scheduled payment date.
*Out-of-network ATM withdrawal fees may apply except at MoneyPass ATMs in a 7-Eleven location, or any Allpoint or Visa Plus Alliance ATM.
Once the retailer accepts your cash, the funds will be transferred to your selected Chime Account. Barcode and debit card cash deposits land in the Checking Account. Credit Builder card cash deposits first go through your Card Account and then land in your Secured Account. Cash deposit fees may apply if using a retailer other than Walgreens and Duane Reade.
For Ages
18+
Annual Percentage Yield
0.25%
Minimum Deposit Requirement
$0
18+
0.25%
$0
We picked the Alliant Credit Union High-Rate Checking account as the best credit union checking account because it offers better rates and lower fees than many banks, plus a number of everyday perks. Anyone can open an account, and the credit union’s product suite includes everything from bank accounts to investment accounts and credit cards.
Why We Like It
We like this account because it has user-friendly digital banking tools and pays 0.25% APY. It also gives students easy access to cash with a network of more than 80,000 surcharge-free ATMs, and Alliant rebates up to $20 per month in third-party ATM fees.
What We Don’t Like
We don’t like that you must receive at least one monthly electronic deposit to earn the advertised APY, which can be harder for students working odd jobs.
Who It’s Best For
This account is best for those who want to join a credit union and will be able to qualify to earn interest. It’s an especially good choice for students who use ATMs regularly.
For Ages
13-24
(if under 16, must have adult co-owner)
Annual Percentage Yield
None
Minimum Deposit Requirement
$25
13-24
(if under 16, must have adult co-owner)
None
$25
We picked the Wells Fargo Clear Access Banking account because it’s available to those who cannot open standard checking accounts due to their banking histories. This type of account is often referred to as second-chance checking. After a year, it can be converted into a standard Wells Fargo checking account.
Why We Like It
We like this account because it’s fairly easy to open—the minimum deposit requirement is a low $25—and the monthly fee is waived for customers under 24. You only need to be 13 to qualify for an account.
What We Don’t Like
We don’t like that Wells Fargo’s ATM network is significantly smaller than those of other banks on our list, with just 11,000 surcharge-free ATMs. We also don’t like that you must visit a branch to open an account if you’re under 17 years old.
Who It’s Best For
This account is best for students who need a second-chance banking opportunity or young teens who want a simple starter checking account.
The Wells Fargo app earns high ratings, on the App Store and on Google Play. Wells Fargo has branches in most states, but the Clear Access Banking account is available for students nationwide.
This account also comes with digital tools for budgeting, managing cash flow and spending—all beneficial perks for students.
To open this account online, a person must be 18 or older. Younger applicants must visit a branch to open an account.
For Ages
18+
Annual Percentage Yield
Up to 0.10%
0.10% APY on balances of $2,500 or more
Minimum Deposit Requirement
$25
18+
Up to 0.10%
0.10% APY on balances of $2,500 or more
$25
We chose LendingClub Bank’s Rewards Checking account because it lets you earn unlimited 1% cash back on qualified purchases made with your debit card. And in addition to cash back, it earns interest.
Why We Like It
We like this account because it offers unlimited rebates for ATM fees charged by other banks worldwide. It also pays 0.10% APY on balances of $2,500 or more.
What We Don’t Like
We don’t like that you have to jump through hoops to be eligible for cash back and that your card must be run as “credit” when making purchases in-store (see Details).
Who It’s Best For
This account is best for students who can qualify for the cash-back rewards and plan to use their debit cards frequently.
Most online and signature-based transactions are eligible for cash back, but for in-store purchases, merchants must run your card as “credit” instead of “debit.” You must also meet the following requirements to earn cash back:
How much interest you earn depends on your Rewards Checking balance. Earn 0.10% APY on balances of $2,500 or more.
Working students can also get their paychecks early—direct deposit paychecks arrive up to two days early. Customer service is available by chat, phone or email.
For Ages
24 and under
Annual Percentage Yield
None
Minimum Deposit Requirement
$25
24 and under
None
$25
We picked the Bank of America Advantage SafeBalance Banking account because it’s free for students. The account has a monthly maintenance fee of $4.95, but this is waived for students under 25 who are enrolled in high school, college, university or vocational school.
Why We Like It
We like this account because it’s a stripped-down bank account with transparent fees. To help users spend within their means, it doesn’t include overdraft services or checks.
What We Don’t Like
We dislike that this account doesn’t earn interest or rewards and doesn’t offer banking perks like ATM fee rebates or early direct deposit.
Who It’s Best For
This account is best for students seeking a simple, free checking account that will prevent them from spending more than they have.
There is a $4.95 monthly maintenance fee that is waived for account holders under the age of 18, students under the age of 25 and members of BofA’s Preferred Rewards program.
Bank of America maintains approximately 15,000 surcharge-free ATMs nationwide. To manage your account, you can visit a branch, log into your online account or use the bank’s highly rated mobile app.
For Ages
17 to 24
Annual Percentage Yield
None
Minimum Deposit Requirement
$0
17 to 24
None
$0
We chose the Chase Bank College Checking account as the best bank account for college students because it charges no monthly service fee for up to five years while you’re in college. Students ages 18 to 24 can open an account online or at a branch.
Why We Like It
We like this account because college students can manage money, view accounts, pay bills and transfer or request money with Chase’s highly-rated mobile app. Chase also offers ample branch access in 48 states.
What We Don’t Like
We don’t like that this account doesn’t allow those under 17 to join and that students who are 17 must open an account at a Chase branch.
Who It’s Best For
This account is best for new college students who want minimal fees and the opportunity to bank in person. Chase High School Checking is a better choice for those under the age minimum.
Past five years, the service fee is $12 per month, but you can get that fee waived by meeting certain monthly requirements—making one electronic deposit per statement cycle or by maintaining an average balance of $5,000 or more.
Chase offers more than 15,000 surcharge-free ATMs and more than 4,700 branches.
To create this list, Forbes Advisor analyzed 29 accounts at 24 financial institutions, including a mix of online banks, brick-and-mortar banks and credit unions, focusing on college-aged students. We ranked each account on data points within the categories of product offerings, fees, APY, minimum requirements, customer experience, digital banking experience, ATM network and availability.
Here’s the weighting assigned to each category:
Student checking account options offering low fees moved to the top of our list, as did accounts with broad ATM networks and strong customer and digital experience scores. While not all 10 accounts are student-specific, they offer features and fee structures that can benefit students.
To learn more about our rating and review methodology and editorial process, check out our guide on How Forbes Advisor Reviews Banks.
As a student, you’re not just learning in the classroom—you’re also learning life skills outside of school, like how to manage your money. Student checking accounts offer a low-cost way to start your financial life on the right foot. Here’s what to look for in a student checking account.
A student checking account is exactly what it sounds like a checking account designed for students. Each bank has its own age restrictions, so “student” could include middle schoolers, high schoolers and college students, including those attending vocational school.
Unlike other youth accounts a parent or adult might open for a minor—with the adult often serving as a joint account holder—a student checking account offers a step toward independence, which means more flexibility and privacy for the young person.
Some of the best student checking accounts have these benefits:
The best time to open a student checking account is when you’re the right age to qualify and enrolled in school. Different accounts have different age limits to consider. Chase College Checking, for example, is available to applicants ages 17 to 24, while Axos Bank Rewards Checking requires applicants to be at least 18—but there’s no upper age limit.
To open a student checking account, you’ll need to meet some basic criteria. First, you must be a student and hold a current and valid school identification card. You also need to be within a certain age range—be sure to check the financial institution’s requirements. Finally, you may be required to deposit funds into the account to open it, though this varies among institutions.
Even if you have an existing checking account, you may want to open a student checking account to take advantage of these benefits:
Despite the many benefits to opening a student checking account, there are a few downsides.
Above, we’ve listed our top picks for student checking accounts. But the best bank account for you depends on your needs. Below are some tips for finding an account.
Choosing a student checking account may seem a little overwhelming, especially if this is your first checking account. Here are some things to keep in mind when you’re shopping:
Keep in mind that your account may be closed or transitioned to a standard checking account once you’re no longer a student. Consider banks and credit unions closely to see if you can picture a long-term relationship with them post-graduation.
Lastly, but most importantly, be sure to consider your needs as a banking customer. While your needs may be simple as a college student, consider what you need from a bank account before selecting one. For example, if you visit ATMs frequently, consider any ATM fees that may apply.
Opening a student checking account is a relatively simple process. In some cases you can open an account online, but many banks require you to visit a brick-and-mortar branch.
Picking a student checking account with an introductory bank account bonus can be a great way to put a little extra cash in your pocket. These kinds of bonuses are typically available to new customers who meet specific qualifications, which could include making a certain number of purchases, setting up a direct deposit or depositing a certain amount of funds within a specified period of time.
Follow these steps to earn a student checking account bonus:
| STUDENT CHECKING | REGULAR CHECKING | |
|---|---|---|
| Monthly fees | May have no monthly maintenance fees or waivable fees for students. | May have no monthly maintenance fees or waivable fees for those who meet balance or activity requirements. |
| Minimums | Often have low or no minimum balance requirements. | Can have higher minimum balance requirements. |
| Overdrafts | Often have low or no overdraft fees. | Overdraft fees vary. |
| Age restrictions | May only be available to people 24 and under. Minimum age requirements vary. | No age limits. However, you must be 18 to open an account. |
| Student status | Some accounts require you to provide a school ID to prove you’re enrolled in high school or college. | You must provide identification, such as your government-issued driver's license, to open an account. |
| Joint owners | Students under 18 may need a parent or legal guardian to help open an account and serve as a co-owner. | Anyone 18 years old or older can open an account. |
Some of the best banks for college students include online banks like Axos, Discover, Chime and LendingClub as well as credit unions like Alliant Credit Union and national banks like Wells Fargo. We’ve narrowed down our top choices for student checking accounts, but the best bank is the one that offers the features you need and want.
Once you’re no longer a student, your account will likely transition into a standard checking account. Each bank has different terms regarding student checking accounts and the qualifications for converting one into a standard account.
There isn’t a limit to the number of student checking accounts you can have. But each student checking account has its own limitations and restrictions. If you want to open multiple student checking accounts, you have to meet each account’s criteria. Keep in mind having multiple accounts might make money management more difficult and could result in more fees.
Generally, there aren’t many downsides to opening a student checking account. But certain limitations, restrictions or terms may not be the best fit for your specific situation. Choosing an account that isn’t fit for your needs could result in paying unnecessary fees or losing out on interest earnings.
Each student checking account has its own age limitations. Some accounts are limited to those 18 and older, but some student checking accounts are available to minors. However, most banks require minors to open an account with an adult cosigner.
It depends on the institution. While some banks require a minimum deposit to open an account, others do not. A deposit between $25 and $100 is standard.
