The Capital One 360 Money Account is one of the best accounts for students between ages 13 to 17, because it’s essentially banking with training wheels. After training over time, the student can then switch from the Money account to a 360 Checking account at the age of 18.
If you’re interested in exploring other student checking accounts, be sure to check out our compiled lists of Best Student Checking Accounts. This handpicked list showcases the best student checking accounts available to you – such as the Chase Student Checking Account below.
 • Enjoy $100 as a new Chase checking customer when you open a Chase College CheckingSM account and complete 10 qualifying transactions within 60 days of coupon enrollment. • $0 Monthly Service Fee while in school up to the graduation date provided at account opening (five years maximum) for students 17-24 years old. • Wire funds internationally using the Chase Mobile® app or chase.com. Send money to recipients around the world with multiple currency options. Fees apply. • Keep track of your money with confidence and control in the Chase Mobile® app. The Chase Mobile app helps you bank securely and conveniently from anywhere. • With Zelle®, you can send and receive money with people and businesses you know and trust who have an eligible account at a participating U.S. bank. • With Fraud Monitoring, Chase may notify you of unusual debit card purchases and with Zero Liability Protection you won't be held responsible for unauthorized debit card purchases when reported promptly. • JPMorgan Chase Bank, N.A. Member FDIC *With Chase Overdraft AssistSM, we won’t charge an Overdraft Fee if you’re overdrawn by $50 or less at the end of the business day OR if you’re overdrawn by more than $50 and you bring your account balance to overdrawn by $50 or less at the end of the next business day (you have until 11 PM ET (8 PM PT) to make a deposit or transfer). Chase Overdraft Assist does not require enrollment and comes with eligible Chase checking accounts. |
Requirements
- No minimum opening deposit
- Ages 13 to 17 are eligible
- Parent co-owner with an active Capital One 360 deposit account
- Must agree to accept electronic delivery of all communications
Pros
- No Monthly Maintenance Fee: With no monthly fees its super easy to save more money!
- No Minimum Balance: Open an account with as little as $1!
- Wide ATM Coverage: Gain access to more than 39,000 ATMs across the nation.
- Online and Mobile Banking: Being an online bank, you’ll have access 24/7.
- Money Transfer With Zelle: Send money to friends, family, whoever, even if they don’t bank with Capital One. Zelle® is a revolutionary new service that lets you send and receive money in minutes.
- Overdraft Option: Capital One offers different overdraft options before hitting you with a $35 fee.
- Auto declining charges when you don’t have enough funds to cover the transaction,
- Linking to a Capital One 360 Savings account to cover the charges,
- Using the one business day grace period to add sufficient funds, or
- Using Capital One’s Overdraft Line of Credit. The bank will cover the overdrawn amount, you just have to pay it back with interest.
- Interest Rate: Get a generous rate of 0.25% APY.
Fees
- Monthly Maintenance: $0
- Non-US Bank ATM (Domestic): $0
- Debit Card Foreign Transaction: 3%
- NSF: $0 – Capital One Automatically declines NSF Transactions, unless you choose otherwise.
- Overdraft: $35 Paid or Returned
- Overdraft Protection: $0
- Paper Statement: $5 per billing cycle. Online statements are free
- Replacement Card (Express): $25 for expedited service.
Cons
- Mostly Online Banking: With very low in-person branch numbers, it’s hard to find a location to walk into and talk to someone in person.
Conclusion
Capital One 360 Money really shines in our eyes, because of their low fees, wide ATM coverage, available interest rate and extremely forgiving nature when it comes to overdrafts.
The only problem we have with them is their online banking nature. You may have to travel far distances in order to find a branch to do in-person banking.
