What are some factors that I should consider if I want to open a bank account? Convenience/proximity is the primary factor that i have looked at, for which Chase seems most appropriate. Bank of America is out because they’re just annoying.. what are other factors to look at? I’m assuming most banks operate pretty much the same way? I know that chase waives the minimum balance for students..is that for all banks as well?
Re: Banking for students..
not too sure how it works in the states, but a few more things you might want to look out for -
make sure that the account doesn't have a minimum amount that is required to be in there. meaning that you need to have $1000, and if you go under that amount than they start charging you transaction fees.
make sure you know how many transactions you're allowed per month. once again, if you go over that number, they're gonna start charging you.
i remember reading somewhere that you wanted to apply for a credit card - take the opportunity when you're at the bank setting up the account to also apply for a student credit card. and remember - student! cause they'll waive a few things that way..
Re: Banking for students..
it should be free from any monthly fee and offer on line bill pay, bank of America is giving $50 per new open account, also some banks will match the change when you use there C Card and put that in your saving account
Re: Banking for students..
Just watch out for these greedy banks who lay the fees on you.. It might $2 or $20 just ask them questions before opening a new account.
Re: Banking for students..
Well thats the thing, i dunno what questions TO ask..
I know that there is a savings vs chcking acct, and for students, they waive the minimum balance thing..I dont want a credit card just yet.. i have 3 store credit cards now 
Re: Banking for students..
if there is an option for a free student account then go for it. Also there are will give you free debit card and unlimited transaction with it. Go for a big/good bank like wachovia, chase etc.
and you don't want to do too much shopping on store credit cards, they charge you way too much interest.
Re: Banking for students..
U.S. Bank is really good....opening a bank acct is not that big of a deal....just tell them ur a student and they will help u themselves.....just make sure that when u take money out that u still have some money in that acct so you don't go in negative bank balance....cuz some banks will charge a lot for that. Bank of America I believe charges for teller charge I think. U.S. bank doesn't do that....u can go to the bank as much as u want....take out from ATM and they don't charge extra....
Re: Banking for students..
By the way ur store credit cards may not build ur credit cuz every time u get a store card u have to show a previous credit card...and if u used ur dad's card...I don't believe that helps u build credit. By the way I love shopping at express too! :D
Re: Banking for students..
Sara, what bank does your dad use? My dad opened a checking account in his and my name when I was in college with Chase. The account doesn't have any fees, no minimum balance or any of that crap. I have a Chase Checking card which I use just like a credit card(I don't have a PIN). Even though officially my dad's name is in the account, he has never used it at all. I've never had a problem with Chase.
*Also, my dad added my name on some of HIS credit cards just so it will start building my credit when I was in college. I don't have any of those credit cards so have never once used them but when I pull my credit report I have them there in good standing. Also after college when I bought my new car my dad co-signed it with me...that helped me get a very low interest rate on my car since he was a co-signer BUT it's still in my credit report along with his. *
Why don't you ask your dad to help you open a checking account at whatever bank he uses? Or ask him to add your name to one of his credit cards? Assuming your dad has a long, stable, good credit history....why not get his help in building yours?
Re: Banking for students..
You should go with islamic banking if your a muslim.
Re: Banking for students..
One thing that really bugs me is the whole minimum balance crap. Seriously, if you DON’T have money, they charge you MORE money?? That makes no sense..they’re punishing you for being poor..WTF 