How to Compare Student Banking Accounts

Many banks offer student banking accounts to college students. Students can use student banking accounts to manage their money and learn financial responsibility.  If you want a student banking account, you should compare the bank's location, online presence, fees and perks.

• Locate banks near your school. The bank's location is especially relevant if you live on campus and do not drive. Luckily, many colleges have bank branches right on campus. If yours does, this is a good place to start. If not, check to see if there are any banks within walking distance or a short drive. 


• Check out bank websites. Chances are you will be doing a lot of your banking online. An online presence is very crucial in a bank, so visit the websites for a few different banks. Check and see if they offer online banking for their student accounts. Look to see exactly what the bank offers online. Can you make balance transfers online? Pay your bills?


• Compare the fees. Once you have a good idea of which banks are near your school, compare the fees on the student accounts. Does the account have a monthly maintenance fee? How much does it cost to order checks? Is there a debit card usage fee? 


• Look at the perks the bank offers with the student checking account. Many banks offer special perks and rewards with their student accounts, so factor this into your decision. Check to see if the bank offers overdraft protection, rewards or a good interest rate.