What is a college account at Chase Bank?

How does Chase college account work?

Chase will pay you $100 after you make 10 qualifying transactions, like debit card purchases or direct deposits, within 60 days of account opening. This account also allows you to save money on fees: While you’re enrolled in college, Chase will waive the $6 monthly fee, up to five years.

Is a chase college account a checking account?

Aside from being a checking account designed with college students in mind, Chase College Checking includes the following additional benefits and perks: Chase bank branch offices are easy to find. There are more than 4,700 branches nationwide and a Chase bank ATM network that is 16,000 machines strong.

Is Chase college account good?

A Chase Student Checking Account is an excellent choice for most college students. It’s especially good for students who will be attending a college where Chase bank branches and ATMs are common. … In that situation, online checking accounts may be the better choice, since it charges no fees on out-of-network ATMs.

Is a chase college account a savings account?

Our flexible Chase savings account with no monthly service fee 3 for students can help you save for your goals during and after college. Take advantage of a credit card created for students that helps build credit and earns cash back on purchases.

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How much money do I need to have in my Chase checking account?

There is no minimum balance required for Chase checking accounts, but keeping a certain balance is one way to avoid a monthly fee on some accounts — for example, the $12 monthly fee for Chase Total Checking® is waived if you maintain a $1,500 beginning-of-day balance.

How much money do I have to keep in my Chase savings account?

A balance at the beginning of each day of $300 or more in this account. OR $25 or more in total Autosave or other repeating automatic transfers from your personal Chase checking account (available only through chase.com or Chase Mobile®)

How do I qualify for Chase college checking?

If you’re 18-24 years old and want to open a Chase College Checking account online, you’ll need your Social Security number, a driver’s license or state-issued ID, and contact info. You’ll also need to provide your college/university name and expected graduation date. 17-year-olds must open at a Chase branch.

Is bank of America or Chase better?

Chase is the better option if you don’t have much money to open an account. Both banks make it pretty easy to waive their monthly fees, but if you don’t qualify to waive charges with either institution, then you may prefer Chase’s lower fee. Both banks pay very low rates, though.

Why is Chase charging me a $12 service fee?

Chase Bank has recently implemented a $12 monthly “service fee” to checking accounts that do not receive a direct deposit of $500 or more. According to Chase, the direct deposits “must be an ACH credit, may include payroll, pension or government benefit payments, such as Social Security.”

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What is the best bank for a college student?

6 best banks for college students

  • Alliant Credit Union: Strong credit union overall.
  • Ally Bank: Good online bank with no monthly fees.
  • Capital One 360: Good choice for in-person service.
  • Discover: Rewards checking and no fees.
  • Golden 1 Credit Union: Credit union with student accounts.

Can a 17 year old open a bank account?

Minors aged 15-17 can open the account on their own without a parent or guardian present.