What bank would be the best bank to set up a student account with?
Posted by admin in Finance Tuesday, 6 December 2011 23:16 2 Comments
I am a fulltime college student( no employment) who needs a good bank to deposit her student loan refund checks. I am looking for a good bank with low APR, low overdraft fees, low monthly service fees,savings and checking, and has low traveling outside of the US fees. I also don’t know if I should get a debit card or a credit card, which one would be best for me?
regions checking doesn’t have any fees if you get a student account. debit cards are best because you aren’t “borrowing” money. and a debit card is only the money you put into the acct.
You have a good question! In my opinion, you should go with credit union (CU) because they are non-for-profit institutions, not like big banks such as Wells Fargo or BoA. They have significantly less fees than other banks. From what you said, you should do some research on local credit unions. I would suggest you to use this website: findacreditunion.com and literately go through every link of every CU.
If you are living in northern CA, go with first tech credit union for checking account (they pay interest on the money you deposit and their rate is highest 2.07% APR as I know). They have only 1% fee for outside US transaction (most big banks require 3%). If you are looking for credit card, they have good ones too.
I saw Use CU in Berkeley have good rate for credit cards but I did not do business with them so I don’t know much how they treat customer but you could consider it…