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I am looking for suggestions  for student checking account for my college freshman that offers no ATM fees. Do these exist? Thank you.

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Someone pi$$ in your cornflakes? Chill out bro, ridiculous the amount of trolls on here.

lazypinkmonkey (Jun. 17, 2017 @ 1:11p) |

fwuser12 (Jun. 19, 2017 @ 12:43p) |

Thanks for adding that info. Good to know. That kinda clarifies their offering to paying $20/month in out of network ATM... (more)

Shandril (Jun. 21, 2017 @ 1:04p) |

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seni1976 said:   I am looking for suggestions  for student checking account for my college freshman that offers no ATM fees. Do these exist? Thank you.
Is your student at a university away from home?  It used to be that you wanted a bank that had a branch convenient to both you and your away from home student (so you could put money in and they could get money out).  These days, since you can do most anything online, just open an account near the university.  Check first to see if they have a credit union.  That will probably be the most fee-friendly to students.  Also - ATM?  I'd be surprised if young people even used ATMs anymore.  Student IDs now are cash cards on most campuses.    

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Thank you for your reply. My DS will be about 500 miles away from home,he will be in NJ and we are in OH.  I will  need to find fatwallet way to avoid unnecessary fees to be able to send him money .Once again, thank you

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seni1976 said:   to avoid unnecessary fees

Yet, you let him pay out of state tuition. Unreal.
  

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He actually got a full ride based on academics and athletics, and external scholarships to pay for his books so he wont be paying for anything.

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seni1976 said:   He actually got a full ride based on academics and athletics, and external scholarships to pay for his books so he wont be paying for anything.

Sure he did, and that's why you're looking for ways to get money on the cheap to him because "he won't be paying for anything."  If he's that smart, he'd have already had this all figured out before he left home, and this thread wouldn't even exist.

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seni1976 said:   I am looking for suggestions  for student checking account for my college freshman that offers no ATM fees. Do these exist? Thank you.
  Open an account at Alliant. They have a wide network of free ATMs and provide rebates up to $20/month for out-of-network ATMs. If there is any CU nearby, he can walk-in and make a shared branch transaction (as long as that CU is part of the network). That should take care of almost all his needs. 

As an "Ancient member", you probably have an account with Alliant already. Just do a member-to-member transfer to send him money.

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Thank you very much !!

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Chyvan said:   
seni1976 said:   He actually got a full ride based on academics and athletics, and external scholarships to pay for his books so he wont be paying for anything.

Sure he did, and that's why you're looking for ways to get money on the cheap to him because "he won't be paying for anything."  If he's that smart, he'd have already had this all figured out before he left home, and this thread wouldn't even exist.

Academic scholarships typically covers tuition only. Many schools will actually provide a ton of scholarship to attract desirable out-of-state student, including scholarships making their tuition the same as in-state students. In this case, OP mentions full ride scholarship and also that book expenses are covered.

But room and board expenses, the student would still have to pay just the same whether in-state or out-of-state. So there's still plenty of reasons to want to send your student money easily (if only to cover potential emergencies).

IMO the best strategy is:
1) find a bank with many network ATM near the specific college. That'd avoid ATM fees in very simple way. Also make sure you can ACH money easily to the student's bank from yours.
2) use a bank with ATM reimbursement for the number of times the student is likely to use ATMs monthly. That way, you don't need to rely on proximity of in-network ATMs.

You'll also want to take into account other fees. Students frequently mess up so banks with low/no overdraft fees are better. Also you probably want low/no minimum balance and monthly fee. Doesn't make sense to go after a bank with no ATM fees, if you're gonna have to pay them $20/month in monthly maintenance fees.

- US Bank student checking is not a bad option IMO. No monthly fee and reimbursement for up to 4 non-US Bank ATM withdrawals per month.

- Ally also has pretty good student checking that earns a bit of interest, no monthly fee and reimburses $10 in non-Ally network ATM fees per month.

There are plenty of others like Chase, BoA, etc with decent student account offering and large networks of ATM depending on the specific college location. Otherwise there are other online ones like Bank of Internet USA that have little physical presence but low fees. It may be an issue if your student needs to deposit cash or check at a branch frequently though.

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seni1976 said:   Thank you for your reply. My DS will be about 500 miles away from home,he will be in NJ and we are in OH.  I will  need to find fatwallet way to avoid unnecessary fees to be able to send him money .Once again, thank you
You can send money between just about any two banks electronically, you could write a check from your account and deposit by phone, you could load money to his college ID/cash card, he could use a credit card for expenses which you could pay from home...

I'd be looking for a student-friendly bank at his end with a branch on campus.  They will likely have a no minimum balance, no fee, account for students and have everything he would need for the infrequent occasions when he would need to go into a bank.  

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fwuser12 said:   
seni1976 said:   I am looking for suggestions  for student checking account for my college freshman that offers no ATM fees. Do these exist? Thank you.
  Open an account at Alliant. They have a wide network of free ATMs and provide rebates up to $20/month for out-of-network ATMs. If there is any CU nearby, he can walk-in and make a shared branch transaction (as long as that CU is part of the network). That should take care of almost all his needs. 

As an "Ancient member", you probably have an account with Alliant already. Just do a member-to-member transfer to send him money.
 

  
to add to this, not all co-op banks are an Alliant shared branch.  I only checked 2-3 branches but I have not ran into a CU that was also an alliant shared branch.  Alliant's location service does not help either as it only shows official Alliant branches. 
 

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nwill002 said:   
fwuser12 said:   
seni1976 said:   I am looking for suggestions  for student checking account for my college freshman that offers no ATM fees. Do these exist? Thank you.
  Open an account at Alliant. They have a wide network of free ATMs and provide rebates up to $20/month for out-of-network ATMs. If there is any CU nearby, he can walk-in and make a shared branch transaction (as long as that CU is part of the network). That should take care of almost all his needs. 

As an "Ancient member", you probably have an account with Alliant already. Just do a member-to-member transfer to send him money.

  
to add to this, not all co-op banks are an Alliant shared branch.  I only checked 2-3 branches but I have not ran into a CU that was also an alliant shared branch.  Alliant's location service does not help either as it only shows official Alliant branches. 

  you should be looking into this locator tool for Co Op co-opcreditunions.org/locator

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Thank you so much , you guys are awesome!!

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nwill002 said:   
fwuser12 said:   
seni1976 said:   I am looking for suggestions  for student checking account for my college freshman that offers no ATM fees. Do these exist? Thank you.
  Open an account at Alliant. They have a wide network of free ATMs and provide rebates up to $20/month for out-of-network ATMs. If there is any CU nearby, he can walk-in and make a shared branch transaction (as long as that CU is part of the network). That should take care of almost all his needs. 

As an "Ancient member", you probably have an account with Alliant already. Just do a member-to-member transfer to send him money.

  
to add to this, not all co-op banks are an Alliant shared branch.  I only checked 2-3 branches but I have not ran into a CU that was also an alliant shared branch.  Alliant's location service does not help either as it only shows official Alliant branches. 

  The Costco in My town has a co-op ATM

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Many schools have a local bank as the "student" Bank, with ATMs in dorms, etc.

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Why even bother with a debit card? Just get a low credit line CC, that way the young adult builds credit and you get cash back. You can do charge backs and if the CC gets lost it's not a big deal, as debit cards are NOT what I would ever want a young college student leaving around. Keep is simple!

Personally, I would get a CC and Ally, with mint setup to monitor and track spending.

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Do you have a "premium" banking package that waives/reimburses ATM fees? You could open a joint account with your child and household it so it qualifies for the same benefits.

I have Citigold and opened joint savings and checking accounts with my son. While he may not like the fact that I can see his financial transactions, he loves the benefits - reimbursement of ATM fees, no foreign transaction fees, maximum Thank You point earnings. It also makes for easy money transfer between accounts.

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dealgain said:   
nwill002 said:   
fwuser12 said:   
seni1976 said:   I am looking for suggestions  for student checking account for my college freshman that offers no ATM fees. Do these exist? Thank you.
  Open an account at Alliant. They have a wide network of free ATMs and provide rebates up to $20/month for out-of-network ATMs. If there is any CU nearby, he can walk-in and make a shared branch transaction (as long as that CU is part of the network). That should take care of almost all his needs. 

As an "Ancient member", you probably have an account with Alliant already. Just do a member-to-member transfer to send him money.

  
to add to this, not all co-op banks are an Alliant shared branch.  I only checked 2-3 branches but I have not ran into a CU that was also an alliant shared branch.  Alliant's location service does not help either as it only shows official Alliant branches. 

  you should be looking into this locator tool for Co Op co-opcreditunions.org/locator

  
Are you sure all shared branches in this list will allow you to do in branch banking with an Alliant account? The same banks I tried and failed to do shared banking for Alliant at are listed here but its been some years since I tried so maybe things changed since then.

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Charles schwab, online only, no ATM fees and no international charges (in case he does a study abroad)

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Thank you very much.

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Fidelity Cash Management account is another good option.

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Chase and Wells Fargo seem to have their own ATMs on college campuses. Have the student open a student account in her name as primary and you as joint account owner. While you are at the bank to do this, tell the banker she needs a student credit card also. Have only her name on the credit card account so she can start her own credit history. If you do both at the same time, they're pretty good at pushing it through even if she has no credit history. Since you now have access to her checking account, you can move money from your bank, does't matter what bank, to her checking account to add money.

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All four of my kids' universities have a local bank that has ATM's all over campus and offers free checking as well. We always find out which bank has the ATM's on campus and go with that bank as most of their transactions take place on campus.

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Another vote for Alliant. That's what I set up for my daughter. The ATMs on her campus are associated with banks I wouldn't want for myself (not interest earning, ATM fees when not using their ATMs, etc.).

- As someone already stated, Alliant reimburses up to $20/month in ATM fees, and that should be more than enough for most people (just advise your son not to take $20 out at a time).
- It's an interest-earning account.
- The iPhone app has the features they'll want (Touch ID support, ability to deposit checks by taking photos of them).

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Thank you very much for information. Now I know what to do . Once again , you guys are awesome.

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Chyvan said:   seni1976 said:   He actually got a full ride based on academics and athletics, and external scholarships to pay for his books so he wont be paying for anything.

Sure he did, and that's why you're looking for ways to get money on the cheap to him because "he won't be paying for anything."  If he's that smart, he'd have already had this all figured out before he left home, and this thread wouldn't even exist.


Someone pi$$ in your cornflakes? Chill out bro, ridiculous the amount of trolls on here.

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fwuser12 said:     Open an account at Alliant. They have a wide network of free ATMs and provide rebates up to $20/month for out-of-network ATMs. If there is any CU nearby, he can walk-in and make a shared branch transaction (as long as that CU is part of the network).
 

  Unfortunately, Alliant CU is discontinuing shared branch banking. Got this in the email today:
Email said: Shared branching incurs considerable per-transaction cost to the credit union and is used by only a small portion of Alliant members. For these reasons, your access to shared branching services is being discontinued as of July 20, 2017.

 

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fwuser12 said:   
fwuser12 said:     Open an account at Alliant. They have a wide network of free ATMs and provide rebates up to $20/month for out-of-network ATMs. If there is any CU nearby, he can walk-in and make a shared branch transaction (as long as that CU is part of the network).
  Unfortunately, Alliant CU is discontinuing shared branch banking. Got this in the email today:
Email said: Shared branching incurs considerable per-transaction cost to the credit union and is used by only a small portion of Alliant members. For these reasons, your access to shared branching services is being discontinued as of July 20, 2017.

Thanks for adding that info. Good to know. That kinda clarifies their offering to paying $20/month in out of network ATM fees or free in-network ATMs. The confusion about which credit union allowed shared branch transactions or not made this feature not very reliable.  

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