It is important for junior and senior high school students, as well as college and graduate students to have checking accounts because these are the stages in their lives where they will begin working and should have an account to deposit their paychecks. They will also begin to pay bills -- most of which will be school-related. Because they are students, they'll need checking accounts that don't require high monetary amounts to maintain them.
TD Bank's Student is a basic checking account for full-time students who are at least 18 years of age. There are no monthly maintenance fee and interest payments. Account holders will receive a Visa debit card, access to online banking and bill pay, and the first order of checks will be free. Other amenities include a refund of one overdraft fee per academic year and a free Convenience Savings account.
Chase offers student checking in two categories -- High School Checking and College Checking. For both accounts, there is a minimum deposit of $25 required to open them. There are free benefits as well: a Chase debit card, online banking and bill pay, Chase Mobile banking and account alerts. There is no monthly service fee for High School or College Checking, as long as there is a parent or guardian linked to their checking account. If not, the service fee is $6 per month.
Undergraduate and graduate students enrolled in a school in the U.S. are eligible for the Citibank Student Account. There is a $100 minimum deposit required to open the account. Benefits include unlimited check writing, no monthly service fee, no fee for using non-Citibank ATMs and a Citibank Debit MasterCard. Additionally, students can apply $500 line of credit that comes with overdraft protection for the checking account.
PNC Bank's Free Checking account is best suited for students because of its simplicity. Students will receive a PNC Bank Visa Check Card, unlimited check writing, free online banking and bill pay, and there is no monthly service fee or minimum monthly balance requirement.
HSBC's Basic Banking checking account is best for students because they'll receive a free HSBC Debit MasterCard and free online banking with bill pay. There is a monthly maintenance fee, but it's only $3. This account serves those that write a few checks a month.