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The college years are a pivotal life experience as students have many opportunities to establish a firm financial foundation. Chase Bank, for example, offers several student banking products without fees which helps cash-strapped college students improve their finances. Here is a look at the best Chase College Checking account benefits.
Limited-Time Offer: New Chase customers can get $100 when they open a Chase College Checking℠ account and complete 10 qualifying transactions within 60 days of coupon enrollment.
JPMorgan Chase Bank, N.A. Member FDIC
Does Chase Have a College Checking Account?
Chase Bank currently offers one checking account for college students. It’s the Chase College Checking℠ and is available with no monthly service fee for up to five years for college students between the age of 17 and 24 years.
Some of the account benefits include local branch access, a Chase debit card for making purchases, and the ability to receive direct deposits or send money electronically.
Accountholders can also enjoy waived service fees on a linked Chase Savings℠ account.
Who Can Apply?
Students that are between the ages of 18-24 with a social security number can open an account online or at a Chase branch. Students without a social security number or who are 17-year-olds can only open an account at a Chase branch.
Applicants will need to verify they are active college students and provide their anticipated graduation date to qualify for this account. U.S. residents must also provide at least one government-issued ID and their Social Security number to apply.
Non-U.S. students with or without a Green Card can also apply but must provide two forms of ID plus proof of college or university enrollment and the anticipated graduation date.
Chase College Checking Account Bonus
New Chase checking customers can earn a $100 bonus after opening a Chase College Checking℠ account and completing at least 10 transactions within the first 60 days.
It’s not every day that you can receive a checking account bonus, so this one is worth considering if you want to bank with Chase as you can get some free money in the process.
Related: The Best Checking Account Bonuses
Chase College Checking Fees
There is no monthly fee for up to 5 years while the student remains enrolled at a qualifying college or university.
After graduation, a $6 monthly service fee can apply, but there are two ways to waive it:
- Receive at least one monthly direct deposit from an employer or government benefits provider via ACH, real-time payment network, or third-party payment networks sending payment to your debit card.
- Maintain an average ending daily balance of $5,000 or more in your checking account.
While having to potentially pay a monthly banking fee is a nuisance, it’s still lower and potentially easier to waive than the $12 monthly fee for a Chase Total Checking® account.
Chase College Checking Features
Here are some of the best benefits of a Chase College Checking account.
No Monthly Service Fee
Brick-and-mortar banks make it easy to access your money online or locally, but that convenience usually comes at the cost of a monthly service fee. The fees for many college-level products are typically lower than the “adult” consumer products, but it’s still a potential expense.
First-year students stand to gain the most from this benefit as they won’t have to pay any monthly service fees for their entire college career.
Chase Banking Perks
You can enjoy these account management benefits:
- Chase Mobile app: You can check your student checking balance, schedule transfers, or receive funds within the Chase Bank mobile app.
- Account notifications: Set up text alerts when you have a low balance, automatic withdrawals are made, or you receive direct deposits.
- Automated savings goals: You can save for future expenses in the Chase app through its Autosave feature.
- Send money to friends and family: Quickly send money to non-Chase accounts through Chase QuickPay (Zelle®).
- Zero Liability Protection: You’re not responsible for unauthorized transactions. On a similar topic, while you won’t earn cashback rewards on your debit card spending, the Chase Freedom® Student credit card can earn 1% back on purchases.
- In-branch access: While digital banking accomplishes most tasks these days, being able to walk into a Chase branch or make fee-free withdrawals from a Chase ATM is valuable as you have more ways to access your money beyond the tap of a button.
Note that there is a $3.00 for inquiries, transfers, or withdrawals while using a non-Chase ATM in the US, Puerto Rico, and the U.S. Virgin Islands. Fees from the ATM owner/network still apply. $5 per withdrawal and $3.00 for any transfers or inquiries at ATMs outside the U.S., Puerto Rico, and the U.S. Virgin Islands. Fees from the ATM owner/network still apply.
Chase Overdraft Assist
With Chase Overdraft Assist, there will be no overdraft fee if you’re overdrawn by $50 or less at the end of the business day or if you’re overdrawn by more than $50 and bring your account balance to overdrawn by $50 or less at the end of the next business day.
With Chase Overdraft Assist, Chase won’t charge an Overdraft Fee if you’re overdrawn by $50 or less at the end of the business day OR if you’re overdrawn by more than $50 and you bring your account balance to overdrawn by $50 or less at the end of the next business day (you have until 11 pm EST (8 pm PST) to make a deposit or transfer). Chase Overdraft Assist does not require enrollment and comes with eligible Chase checking accounts.
Other Chase Student Accounts
In addition to the Chase College Account to meet your student checking needs, there are these other banking products.
Chase Freedom Student Credit Card
The information for the Chase Freedom® Student credit card has been collected independently by Johnny Jet. The card details on this page have not been reviewed or provided by the card issuer.
Students can earn rewards and start building credit with the Chase Freedom® Student credit card. Some of the card benefits include:
- 1% back on eligible purchases
- $20 Good Standing Rewards after each account anniversary (for up to 5 years)
- Earn a credit limit increase after making 5 monthly payments on time within 10 months from account opening (subject to meeting credit criteria)
- No annual fee
Eligible applicants can receive a $50 bonus cash after making their first purchase within the first 3 months. You can learn more about this card with our Chase Freedom Student credit card review.
A Chase Savings℠ account won’t have any service fees when linked to a College Checking account. Further, there are other ways to waive the $5 monthly service fee.
This account earns interest and is an easy way to separate your long-term savings from your spending cash.
Chase High School Checking
The information for the Chase High School Checking℠ has been collected independently by Johnny Jet. The card details on this page have not been reviewed or provided by the card issuer.
If a student is still in high school, they can jump-start their banking journey with the Chase High School Checking℠ when between ages 13-17. This account is co-owned by at least one parent and must be opened at a local branch.
There is no account service fee as a minor, but it converts to a Chase Total Checking account when the child turns 19.
If you’re a college student with a Chase Bank branch near campus or you want to enjoy the benefits of a national bank, Chase College Checking℠ can be a perfect fit as you won’t pay any service fees through graduation. Plus, it comes with ways to waive the $6 fee after getting your diploma.