Hi all! So I'm getting ready for college, and I'm starting to think about my financial situation. I want to be smart about my money, and I'm looking for debit card options that don't have monthly fees. I'm hoping to find something that suits a student budget without any hidden costs. If anyone knows of any good options or has experience with a particular card that they recommend, I'd love to hear about it. Thanks in advance for your help!
There are quite a few options for student-friendly debit cards without monthly service fees. Let's jump into a few that you might want to consider:
1. Capital One 360 Checking: This account has no monthly service fees and no minimum deposit requirement. It also allows free use of over 70,000 ATMs.
2. Chase College Checking: For college students between 17-24, Chase offers an account with no monthly service fee. It does, however, have a $2.50 fee for non-Chase ATMs.
3. Ally Bank Interest Checking: While Ally is an online bank, this account offers free use of any Allpoint ATMs in the U.S and a certain amount of other banks' ATM fees are reimbursed every statement cycle. It also has no monthly maintenance fees.
4. Bank of America Advantage Banking: Bank of America waives the monthly maintenance fee for students under the age of 24. Additionally, they have a vast network of ATMs and branch locations.
5. Discover Cashback Debit: You can earn 1% cash back on up to $3,000 in debit card purchases each month. There are no monthly fees or initial deposit required. Be aware, they don't have physical branches, but they offer free use of 60,000 ATMs.
In making your decision, you might also want to consider other features, such as mobile app reviews, customer service options, and whether the bank has physical branches near you. It's essential to read the terms and conditions for each option carefully to ensure that you're aware of any possible hidden costs, such as ATM or overdraft fees.
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