If you’re a student looking for a new bank, be sure to check out TD Bank Student Checking! They claim to be “perfect for those under the age of 24 who are enrolled as a full-time student.” With features and tools that make banking easy, it’s a great bank for students.
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. • No Monthly Service Fee while in school up to the graduation date provided at account opening (five years maximum) for students 17-24 years old. • Students ages 18-24 with a Social Security Number can open an account online or at a Chase branch. Students with no Social Security number or who are 17-year-olds can only open an account at a branch. • Keep track of your money in the Chase Mobile® app. The app helps you manage your money. • Zelle® is available in more than 1,000 banking apps in the U.S. So you can send and receive money from almost anyone you know and trust who has a bank account in the U.S. • Access to more than 15,000 Chase ATMs and more than 4,700 branches. • JPMorgan Chase Bank, N.A. Member FDIC • Chase Overdraft AssistSM – no 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 bring your account balance to overdrawn by $50 or less at the end of the next business day* *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
- Under the age of 24.
- Proof of active student status.
- No minimum opening deposit.
- Parent co-owner, if you’re younger than 18.
Pros
- No Monthly Maintenance Fee/Minimum Balance: Simply provide proof that you’re under 24 and a full time student.
- Extremely Convenient: Gain access to thousands of ATMs scattered across North America. Additionally, branches are open 7 days a week!
- Mobile Banking: Download the mobile phone app and gain features like mobile deposits, paying bills, and more.
- Send Money to Others for Free: When you use Zelle, a PayPal- and Venmo-like app.
- Waived Overdraft Protection Transfer Fees: If your account is overdrawn by $5 or more, TD Bank will cover for you.
- Fee Free Savings Account: Get a fee free savings account with your student checking account!
- Student Banking Account: TD Bank provides educational resources so you can learn all about personal finance. Topics include protecting your identity, understanding overdraft options, and more!
Fees
- Monthly Maintenance: $0
- Non-TD Bank ATM: $3
- Debit Card Foreign Transaction: 3%
- Overdraft/NSF: $35 – Per paid or returned item, max 5 items per business day.
- Overdraft Protection: $0
- Paper Statement: $1 per billing cycle. Online statements are free
Cons
- Spotty Coverage: TD Bank has over 1,200 locations on the East Coast, but you might have a difficult time finding a branch if you don’t live in an urban area.
- Overdraft Fees: Expect to pay $35 up to five times a day for overdraft fees!
- No Yield on Deposit: Unfortunately, this account yields no interest over time.
Conclusion
TD Bank Student checking really shines when it comes to their accessibility as well as their no monthly fees and no minimum balances! That means any student under the age of 24 can open an account with as little as $1!
Additionally, they have mobile banking as well as 24/7 customer service in case you ever have questions, no matter the time of day. With Student Banking Tools and fee-free TD Savings Account, you will be well on your way to a firm personal finance foundation.
Just be careful for overdraft fees – they can easily put a dent in your wallet.