It is never too early to start saving. Being able to save is the foundation of so much of your personal finances. Starting good saving habits can be essential to your ultimate financial goals. So, several banks are offering discounts to get college students and young depositors off on the right financial foot.
It might surprise you to know that some of the country’s leading commercial banking institutions recognize that college students and other young adults could use some incentives to open accounts. In fact, here are 5 well-known and reliable banks that have tailor-made checking accounts and offering other discounts for first-time depositors under the age of 24.
1. TD Bank
There’s no minimum balance or monthly fee with TD Bank’s Student Checking account. If you’re under 24-years-old, TD Bank customers enjoy perks like a free debit card. Also, it syncs with your smartphone wallet, mobile banking, and online bill pay.
Available to college students between the ages of 17 and 24, Chase’s College Checking account waives all monthly service fees for five years. As an added bonus, Chase will throw a little seed money your way with a $100 offer incentive when you open your account with a deposit greater than $25.
3. Wells Fargo
A deposit of just $25 unlocks a wealth of banking perks with Wells Fargo, the biggest bank in the country. Account owners ages 17 – 24 will have a $10 monthly fee waived and still have access to the bank’s network of more than 13,000 ATMs and secured online mobile banking.
Hallmark to the Southeast, (and my own personal bank, that I love!) SunTrust’s Essential Checking for Students simplifies banking. Customers save on monthly maintenance fees for five years. If you can’t get to one of the bank’s 1,200 branches, enjoy the ease of no-fee mobile deposit, mobile bill pay, and seamlessly sync with Apple Pay and Samsung Pay.
5. Bank of America
With Bank of America’s Advantage SafeBalance Banking account, depositors ages 16 to 24 are eligible to open the account with just $25 and pay $0 in monthly fees.
Do you know of other banks offering incentives for young depositors that you would like to share?