--- title: Best Banks and Credit Unions for Students description: We researched dozens of financial institutions to determine best banks and credit unions for students for 2027. authors: - name: Kat Tretina role: Contributor url: https://money.com/author/kat-tretina/ education: B.A in English and Communications from Elizabethtown College, M.A. in Communications from West Chester University at_money_since: 2025 articles: 21 covers: - Banking - Insurance - Loans former_staff: true editors: - name: Jordan Chussler role: Editor, Investing and Banking url: https://money.com/author/jordan-chussler/ bio: Jordan is an investment editor who specializes in topics ranging from traditional equities, retirement savings and income investing to alternative assets and commodities, specifically focusing on gold and other precious metals. He combines his personal interests and professional experience in finance and education to help readers increase their financial literacy and make better investment choices. Jordan is a Certified Personal Finance Counselor. education: Lynn University certifications: Certified Personal Finance Counselor at_money_since: 2023 articles: 132 covers: - Banking - Credit - Credit Cards - Economy and Politics - Housing - Identity Theft - Insurance - Investing - Loans - Mortgages - Personal Finance - Professional Services - Retirement also_seen_in: - Weiss Ratings - 24/7 Wall Street - Better Investing - Yahoo Finance - Nasdaq - Investing.com - Marketbeat - MSN Money social: - https://www.linkedin.com/in/jordan-chussler-b3597811/ published: '2026-10-14T14:24:15.000Z' modified: '2026-10-14T14:24:15.000Z' section: Banking tags: - best banks word_count: 953 canonical: https://money.com/best-banks-for-students/ type: Article source: structured-blocks --- > **Disclosure:** We research all brands listed and may earn a fee from our partners. Research and financial considerations may influence how brands are displayed. Not all brands are included. [Learn more](https://money.com/page/disclaimer/). ![Best Banks and Credit Unions for Students](https://img.money.com/2024/10/Best-Banks-2024-Students.png?w=1012&h=569&crop=1) ## Our Partners ### TOP PARTNER ![View Rates](https://s3.consumersadvocate.org/prd/image/image/19227/medium_5c3a0d96-3da5-45d8-8e99-d58f043e9433.png) Our Partner [View Rates](https://money.com/go/a0020a9d2e5e?ap_referrer=%2Fbest-banks-for-students%2F&bidid=4221728605&pmeta=p129-c561-u34082&ptid=683122594&ptoken=0db7dc1c6d8e0fb9f741aa7c47a2d5e8&ua=Mozilla%2F5.0+AppleWebKit%2F537.36+%28KHTML%2C+like+Gecko%3B+compatible%3B+ClaudeBot%2F1.0%3B+%2Bclaudebot%40anthropic.com%29&zip=43215&apxa1=best-banks-for-digital-investing) **Up to 3.30% APY² with eligible direct deposit or $5,000 or more in qualifying deposits during the 31-day evaluation period.** - Limited Time Offer - +0.90% Boost on Savings APY to up to 4.20% for up to 6 months on new accounts. Terms apply.8  - $0 min. balance to earn APY - Open Checking & Savings Accounts with 1 Sign Up - Up to 2-Day-Early Paycheck3 - Access additional FDIC insurance up to $3M on deposits4 - No Account Fees5 & No-fee Overdraft Coverage6 \*Terms Apply **\[AFFILIATE LINK: Open SoFi Account Today\]** * * * ![View Rates](https://s3.consumersadvocate.org/prd/image/image/40232/medium_cfa5e5b0-4ccd-4dc6-814f-910bb4151eb3.webp) Our Partner [View Rates](https://money.com/go/20a78bf18cbd?ap_referrer=%2Fbest-banks-for-students%2F&bidid=4221728607&pmeta=p129-c561-u34082&ptid=683122594&ptoken=1c194fefe0fad6ad391c7433cfcba9eb&ua=Mozilla%2F5.0+AppleWebKit%2F537.36+%28KHTML%2C+like+Gecko%3B+compatible%3B+ClaudeBot%2F1.0%3B+%2Bclaudebot%40anthropic.com%29&zip=43215&apxa1=best-banks-for-digital-investing) **Earn 4.25% APY\* for 6 months with $5k min. balance when you open a Platinum Savings Account** - $5,000 min. balance to earn top APY - $100 minimum deposit to open an account - No account opening or monthly service fees - Member FDIC \*Boosted rate for 6 months; 3.75% APY after. \*Enter promo code BOOST50 for APY bonus. Rate as of 9/29/2026. **\[AFFILIATE LINK: View CIT Bank Offer\]** * * * ![View Rates](https://s3.consumersadvocate.org/prd/image/image/40546/medium_c4df0da9-32d5-4f39-9172-e02e18571a8d.webp) Our Partner [View Rates](https://money.com/go/905adc7f9787?ap_referrer=%2Fbest-banks-for-students%2F&bidid=4221728610&pmeta=p129-c561-u34082&ptid=683122594&ptoken=549994041afa6bc55095c05e1f0d29c6&ua=Mozilla%2F5.0+AppleWebKit%2F537.36+%28KHTML%2C+like+Gecko%3B+compatible%3B+ClaudeBot%2F1.0%3B+%2Bclaudebot%40anthropic.com%29&zip=43215&apxa1=best-banks-for-digital-investing) **Earn Up to 4.35% APY (inclusive of 0.35% APY Boost)\*\*** - $500 minimum opening deposit - Keep more of your money with no fees - Trusted device security with quick face or fingerprint login - Member FDIC, Santander Bank, N.A. Rates as of 10/14/2026 \*\*New Customers only. Terms Apply. Santander Bank, N.A. Member FDIC. The APY Boost will apply for (6) months from the date the account is opened. **\[AFFILIATE LINK: View Openbank Offer\]** ## Key Takeaways - SoFi is the best overall bank for students in Money's 2027 rankings. Tailored for undergraduates, SoFi offers accounts that combine checking and savings without monthly fees or account minimums, access to 50,000 fee-free ATMs, customizable savings vaults and a $30 sign-up bonus for .edu email holders. - Other top banks and credit unions include those with student-targeted deposit accounts. FourLeaf Federal Credit Union provides a high savings APY for students, while Patelco Credit Union offers up to $100 in new member bonuses and Bank of America offers a $100 checking account cash offer. - Money's analysis focuses on low costs and student value. The 2027 student banking rankings reviewed top financial institutions by prioritizing $0 monthly service fees, low or zero opening deposit requirements, ATM network coverage and integrated digital/financial literacy tools. Students have unique financial needs, and money management is an essential skill they must acquire in life. The right student bank account can help them learn the ropes. Money researched dozens of leading banks and credit unions and identified the best options for students based on their fees, deposit requirements, annual percentage yields (APYs), digital and mobile tools and customer service ratings. Here are our topic picks for the best banks and credit unions for students for 2027: - **[SoFi](#sofi):** Best Overall - **[Chase](#chase):** Best for ATM Access - **[Patelco Credit Union](#patel):** Best for New Account Offers - **[PNC](#pnc):** Best for Checking Accounts - **[FourLeaf Federal Credit Union](#fourleaf):** Best for Savings Accounts - **[Bank of America](#bofa):** Best for New Student Accounts *\*Rates and APYs are subject to change. All information provided was accurate as of Oct. 9, 2026.* ## Start saving today with a SoFi®️ High-Yield Savings Account. ### A High-Yield Savings Account keeps your money organized and separated so there's no confusion when it comes time to spend. [Open an Account Today](https://money.com/pr/zf15b77dd573?ap_referrer=%2Fbest-banks-for-students%2F&apxa1=best-banks-for-digital-investing) ## Best Overall: SoFi ![](https://s3.consumersadvocate.org/prd/image/image/19227/large_5c3a0d96-3da5-45d8-8e99-d58f043e9433.png) [View Rates](https://money.com/pr/k7a41decb8eb?ap_referrer=%2Fbest-banks-for-students%2F&url=&apxa1=best-banks-for-digital-investing) While [SoFi](https://money.com/pr/y53e57419349?data-trk-company=sofi-savings-review&data-trk-imp=true&data-trk-pcu-type=direct_link&data-trk-pcu-uuid=y53e57419349&encoded_id=&apxa1=best-banks-for-digital-investing) is widely known for being a student loan provider, it also offers extensive banking products. It has a specially-designed checking and savings combination account for college students. The accounts have no minimum balance fees or monthly fees, and you can withdraw money from a network of 50,000 fee-free ATMs. With a SoFi combination account, you can use savings vaults, or sub-accounts that you can use to save for multiple goals simultaneously. For example, you can make a specific vault to save for your textbooks for next semester or to pay for your spring break plans in spring. College students can also qualify for SoFi's $30 sign-up bonus. You can sign up through the website's student page and use your .edu email address to open an account. Fund the account with at least $10 within five days of registration, and SoFi will send you a one-time $30 cash bonus. **Pros** - No monthly fees - Sign-up bonus for new accounts - Extensive ATM network **Cons** - Must have a .edu email address - Limited cash deposit options - Cannot open just one type of account ## Best for ATM Access: Chase ![](https://s3.consumersadvocate.org/prd/image/image/40459/large_31853ecb-e791-49bb-be96-bb2f04daa90d.webp) [View Rates](https://money.com/pr/u066d1b3bdac?ap_referrer=%2Fbest-banks-for-students%2F&url=&apxa1=best-banks-for-digital-investing) As a college student, you may work part-time to earn spending money or to save for school expenses. Popular jobs for college students — including restaurant servers, bartenders, childcare providers and pet-sitters — tend to pay cash. But many student accounts are primarily online or digital, and depositing cash is difficult. So [Chase](https://money.com/pr/i7be8f252370?data-trk-company=chase-savings-accounts-review&data-trk-imp=true&data-trk-pcu-type=direct_link&data-trk-pcu-uuid=i7be8f252370&encoded_id=&apxa1=best-banks-for-digital-investing) stands out for its broad network of branches and ATMs, especially for students who need to routinely deposit their cash. Chase operates over 5,000 physical branches, and it has over 14,000 ATMs that allow you to not only withdraw money but deposit cash, making it convenient for students on the go. The bank's student checking count doesn't require a minimum balance, and while it charges a $4.95 monthly maintenance fee, it also has checking fee waivers. **Pros** - ATMs accept cash deposits - Student checking options with no minimum deposit requirements - Student checking without monthly fees available **Cons** - Monthly fees for savings accounts - Some checking accounts have monthly service fees - No rewards or added perks ## Best for Money Market Accounts: Patelco Credit Union ![](https://s3.consumersadvocate.org/prd/image/image/40423/large_ddbb0a2b-9089-440a-b124-82b40ca7a80a.webp) [View Rates](https://money.com/pr/n17b972fbc5b?ap_referrer=%2Fbest-banks-for-students%2F&url=&apxa1=best-banks-for-digital-investing) When a teen becomes a [Patelco Credit Union](https://money.com/pr/ic853e8e1df8?data-trk-company=patelco-credit-union-review&data-trk-imp=true&data-trk-pcu-type=direct_link&data-trk-pcu-uuid=ic853e8e1df8&encoded_id=&apxa1=best-banks-for-digital-investing) member, they may be eligible for a special new account bonus. If the student opens a checking account and makes a minimum deposit of at least $100 with code R7BWNBFB, Patelco will deposit $50 into a savings account. If the student also opens a money market account, they can receive another $50. Patelco Credit Union also has financial courses and instructional tools to help students manage their money more effectively. While Patelco's savings accounts aren't student-specific, they don't have a minimum deposit requirement and don't charge a monthly maintenance fee. **Pros** - No minimum balance - No monthly fee - Valuable new member bonus **Cons** - Teen savings accounts have low APYs - You must visit a branch or have a video call to open an account - May need to join the Financial Fitness Association to become a member ## Best for Checking Accounts: PNC ![](https://s3.consumersadvocate.org/prd/image/image/8109/large_334c78a9-8089-450d-af68-0348d02e39eb.png) [View Rates](https://money.com/pr/ue54e4580c9c?ap_referrer=%2Fbest-banks-for-students%2F&url=&apxa1=best-banks-for-digital-investing) From paying for technology fees to using your debit card to purchase on-campus meals, a student checking account is likely the account you'll use the most as a college student. [PNC](https://money.com/pr/yff9267a6af4?data-trk-company=pnc-savings-accounts-review&data-trk-imp=true&data-trk-pcu-type=direct_link&data-trk-pcu-uuid=yff9267a6af4&encoded_id=&apxa1=best-banks-for-digital-investing) Bank's Simple Checking account has special benefits for students, including a $0 minimum requirement to open an account and no monthly maintenance fees if you're under the age of 25 (or meet qualifying direct deposit requirements). Additionally, there are no overdraft fees, and you can withdraw cash at one of PNC Bank's 60,000 ATMs. PNC Bank also offers financial education and digital banking tools that students can use to manage their money and improve their financial literacy skills, which are very helpful for life after graduation. **Pros** - No required minimum balance to open an account - No monthly service fees for students under the age of 25 - No overdraft fees **Cons** - No student savings account option - Poor Trustpilot reviews - Branches only located in some states ## Best for Savings Accounts: FourLeaf Credit Union ![](https://s3.consumersadvocate.org/prd/image/image/27535/large_b48bb9ff-fa6b-4642-babf-63cfb7242a2c.png) [View Rates](https://money.com/pr/t8f08705c980?ap_referrer=%2Fbest-banks-for-students%2F&url=&apxa1=best-banks-for-digital-investing) With the [FourLeaf Federal Credit Union](https://money.com/pr/w553123a2cec?data-trk-company=bethpage-credit-union-savings-accounts-review&data-trk-imp=true&data-trk-pcu-type=direct_link&data-trk-pcu-uuid=w553123a2cec&encoded_id=&apxa1=best-banks-for-digital-investing) student savings account, you can open a high-yield savings account with as little as $5. A FourLeaf account will make your money work harder for you. The credit union's student savings account offers a 5% APY on up to $1,000. On balances of $1,000 or more, you'll earn 1.39%. FFCU's student savings account has no monthly maintenance fees, and students between the ages of 18 and 20 can open the account online. Younger students can also open an account, but they'll need to have a parent or legal guardian schedule a call with a credit union representative first. **Pros** - Very high APY on up to $1,000 in savings - No monthly maintenance fees - Low minimum balance requirement **Cons** - Capped at age 20 - Those younger than 18 must schedule a video call to open an account - Must open a savings account with $5 for membership ## Best for New Student Accounts: Bank of America ![](https://s3.consumersadvocate.org/prd/image/image/40322/large_d1bef5b9-e221-4053-b558-d66a2429c8c2.webp) [View Rates](https://money.com/pr/c4ea59e6b167?ap_referrer=%2Fbest-banks-for-students%2F&url=&apxa1=best-banks-for-digital-investing) As a college student, every dollar counts. If you don't have a [Bank of America](https://money.com/pr/b3971a6f5097?data-trk-company=bank-of-america-savings&data-trk-imp=true&data-trk-pcu-type=direct_link&data-trk-pcu-uuid=b3971a6f5097&encoded_id=&apxa1=best-banks-for-digital-investing) bank account and want to open a student SafeBalance checking account, you may qualify for a $100 cash offer. Open an account online and make at least 20 qualifying debit card or Zelle transactions with your new account within 60 days of account opening to get the $100 bonus. If you're under 25, there is no monthly maintenance fee, and you can visit Bank of America's broad branch and ATM network to withdraw cash or get in-person help. The bank also has robust online banking tools and a highly rated mobile banking app. **Pros** - Valuable new account bonus - No monthly fee if under the age of 25 - Extensive branch and ATM networks **Cons** - Fees apply after the age of 25 - No student checking account options - No paper checks ## FAQs ### What makes a bank good for students? The best student bank accounts feature $0 monthly maintenance fees, zero minimum deposit or minimum balance rules and widespread fee-free ATM access near college campuses. They also offer intuitive mobile apps with features like peer-to-peer (P2P) payment integration (e.g., Zelle), budgeting tools and low or waived overdraft fees. ### Can I still use my student bank account after I graduate? In some cases, yes. Most student checking and savings accounts are designed for those ages 17 to 24 (e.g., those actively enrolled in high school or college). When you reach the age cap or graduate, the bank will typically convert the account into a standard adult checking or savings account. ### How can students avoid out-of-network ATM fees while away at college? Look for banks that participate in large national ATM networks or banks that offer monthly out-of-network ATM fee reimbursements. ## How we chose the best banks for students for 2027 To determine Money's picks for the best banks and credit unions for students, we researched leading financial institutions, compared bank account options, rates, deposit minimums, fees and added benefits and features to select our top choices. We placed a particular emphasis on banks that offer accounts to students, while also prioritizing banks with broad ATM networks and low fees. AI was not used in the sourcing of Best Banks data, the analysis of that data or the content subsequently produced by Money's editorial team. You can [read our full methodology here](https://money.com/best-banks/methodology/). ## Save money the right way with a High-Yield Savings Account ### For an easy and effective way of saving money, a High-Yield Savings Account is a good bet. Just click below and open your account today. 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