Chase College Checking Review
Chase College Checking account has no monthly service fee for students. But is there a catch? Read on to learn the details and see if it's right for you.
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Chase College Checking℠ - $100 Bonus
- Enjoy $100 as a new Chase checking customer when you open a Chase College Checking℠ account and complete 10 qualifying transactions within 60 days of coupon enrollment.
- $0 Monthly Service Fee while in school up to the graduation date provided at account opening (five years maximum) for students 17-24 years old.
- Wire funds internationally using the Chase Mobile® app or chase.com. Send money to recipients around the world with multiple currency options. Fees apply.
- Keep track of your money with confidence and control in the Chase Mobile® app. The Chase Mobile app helps you bank securely and conveniently from anywhere.
- Zelle® is available in more than 1,000 banking apps in the U.S. So, you can send and receive money from almost anyone you know and trust who has a bank account in the U.S.
- With over 4,700 branches, Chase has the largest branch network in the U.S. plus access to more than 15,000 ATMs.
- With Fraud Monitoring, Chase may notify you of unusual debit card purchases and with Zero Liability Protection you won't be held responsible for unauthorized debit card purchases when reported promptly.
- JPMorgan Chase Bank, N.A. Member FDIC
Chase College Checking Pros & Cons
Chase is one of the biggest banks in the U.S. with a wide range of financial products and services.
First, let's quickly review the pros and cons of banking with Chase for college students.
Pros:
- Access to more than 15,000 Chase ATMs and more than 4,700 branches
- Online and mobile banking from anywhere
- Free online bill pay, mobile deposits, and text banking
- Free savings account if linked for overdraft protection
- 24/7 customer service with real reps
- Highly rated Chase mobile app
- Establish relationship history with Chase
- FDIC insured up to $250,000
Cons
- No interest rate
- No ATM fees reimbursement
- No free checks
Read on for the full Chase College Checking review.
New Customer Promotions
Chase College Checking℠ - $100 Bonus
- Enjoy $100 as a new Chase checking customer when you open a Chase College Checking℠ account and complete 10 qualifying transactions within 60 days of coupon enrollment.
- $0 Monthly Service Fee while in school up to the graduation date provided at account opening (five years maximum) for students 17-24 years old.
- Wire funds internationally using the Chase Mobile® app or chase.com. Send money to recipients around the world with multiple currency options. Fees apply.
- Keep track of your money with confidence and control in the Chase Mobile® app. The Chase Mobile app helps you bank securely and conveniently from anywhere.
- Zelle® is available in more than 1,000 banking apps in the U.S. So, you can send and receive money from almost anyone you know and trust who has a bank account in the U.S.
- With over 4,700 branches, Chase has the largest branch network in the U.S. plus access to more than 15,000 ATMs.
- With Fraud Monitoring, Chase may notify you of unusual debit card purchases and with Zero Liability Protection you won't be held responsible for unauthorized debit card purchases when reported promptly.
- JPMorgan Chase Bank, N.A. Member FDIC
Monthly Service Fees
There are NO monthly fees for college students age 17–24 from time of account opening until expected graduation date. You can qualify for up to 5 years.
After the expected graduation date, the monthly maintenance fee is $12 and can be waived with ONE of the following actions each statement period:
- Have electronic deposits made into this account totaling $500 or more, such as payments from payroll providers or government benefit providers, by using (i) the ACH network, (ii) the Real Time Payment or FedNow network, or (iii) third party services that facilitate payment to your debit card using the Visa® or Mastercard® network
- Keep an average ending day balance of $1,500 or more in your checking account.
Account Minimums
There are no minimum balance requirements for the Chase College Checking account during the time you're in school.
Account Features
Chase College Checking offers these account features and services:
- Free Debit Card
You get a free Visa debit card for purchases. - Direct Deposit
Directly send paychecks into your account. - Chase QuickDepositSM
Deposit checks anywhere with the app by taking a photo with your phone. - Online Bill Pay
Pay bills online or on the mobile app to thousands of billers. - QuickPay with Zelle®
Easily transfer money to family and friends with just their email or phone number. The other person doesn't need to use Chase, just as long as they sign up for Zelle through their own banks. - Text Banking
Check balances and transaction history by simply texting. - Free Savings Account
Chase offers a Chase Savings Account for no monthly fee when you link this account for Overdraft Protection. - Overdraft Protection
This is available if you have a linked Chase Savings Account. Chase will transfer funds from your savings to help cover overdrafts. There is no fee for an Overdraft Protection transfer. - Paperless Statements
See up to 7 years of statements online. - Account Alerts
Set up alerts for account activity, such as for low balance, large transactions, and more. - Zero Liability Protection
Chase will reimburse unauthorized purchases made with your card when you report them promptly.
Is Chase College Checking Good?
There's no downside to opening a College Checking account with Chase, since there's no monthly service fee or minimum balance requirements for students 17–24.
There are lots of physical branches and ATMs, so it's easy to access your money. It's especially convenient if you're going to school away from your hometown and need a bank with a wider presence.
College students can start managing their own day-to-day finances. This account will allow them to make purchases, get paychecks, and pay bills. The risk of getting into debt is low since you can only use funds you actually have in your account. Just be careful of overdrafts since the fees are high.
One of the biggest advantages of choosing Chase is that you can start building a relationship with Chase early. Chase is known for their extremely popular cash-back and travel reward credit cards, but approval may be a bit more stringent.
With a college bank account, by the time you graduate and are ready for a better credit card, you'll already have a few years of history with Chase. This may give you some extra points when determining approval.
If you're exploring more options, consider checking out our guide on the best student checking accounts for a comprehensive comparison.
Eligibility and How to Open an Account
Students age 17–24 can open a Chase College Checking account. You can apply before you officially start college as long as you have proof of student status.
You can apply for the Chase college checking account either in person at a branch or online.
- Social Security number
- Driver's license or state ID
- Name and address
- Date of birth
- Phone number and email
- Valid student ID or proof of enrollment/acceptance
- College state and expected graduation date
After filling in the application, just make your first deposit and that's it. You must be a U.S. citizen or resident alien to open an account online.
Remember that you can also open a Chase Savings account at the same time. It'll have no maintenance fees as long as you link the College Checking account for overdraft protection.
How to Deposit or Withdraw Money
Chase makes depositing and withdrawing funds easy, so you can easily access your money when you need it. For checking accounts, you get unlimited transactions as long as you have the funds.
There are a number of online and in-person ways:
Depositing Money:
- Direct deposits of paychecks.
- Mobile deposit by taking photo of your check.
- In person at a branch.
- Deposit cash or checks at an ATM.
- Electronic transfers from other bank accounts.
- Receive money through QuickPay with Zelle®.
Withdrawing Money:
- Electronic transfer into another bank account.
- In person at a branch.
- At an ATM with your Chase debit card.
- At an ATM by tapping your phone (at ATMs with cardless symbols).
- Send money through QuickPay with Zelle®.
Other Fees
Here are some other common bank fees you may encounter, including:[1]
- $3 fee per withdrawal at a non-Chase ATM in the U.S. and the U.S. territories. $5 fee per withdrawal at a non-Chase ATM outside of the U.S. and the U.S. territories. Surcharge Fees from the ATM owner/network still apply. U.S. territories include American Samoa, Guam, the Northern Mariana Islands, Puerto Rico and the U.S. Virgin Islands.
- $34 for insufficient funds and returned items (max 3 per day).
- $30 per stop request.
- $5 for debit card replacement.
- 3% foreign transaction fee.
- $6 for paper statements.
Bottom Line
Chase College Checking is a great product for college students. There is no maintenance fee for students 17–24, so you don't have anything to lose. It's great for those looking for a bank with a wider presence, lots of features, and easy on-the-go mobile banking.
Checking accounts help make managing your day to day spending a lot easier. And it's also helpful to establish a relationship with Chase early, so you are open to more possibilities later after graduation (such as better credit cards and loan rates).
References
- ^ Chase. Additional Banking Services and Fees, Retrieved 7/15/2022
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