Best Banks and Credit Unions for Students for 2026
Earn up to 4.30% APY*
- Limited Time Offer - New accounts earn a 0.70% APY boost to 4.30% for up to 6 months with eligible direct deposit*
- $0 min. balance to earn APY
- Open Checking & Savings Accounts with 1 Sign Up
- Up to 2-Day-Early Paycheck3
- FDIC Insured up to $250k plus up to $3M in supplemental insurance4
- No Account Fees5 & No-fee Overdraft Coverage6
*Terms Apply
1. Up to $300 Bonus Tiered Disclosure
New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period) OR $300 (with at least $5,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period). Cash bonus will be based on the total amount of Eligible Direct Deposit. If you have satisfied the Eligible Direct Deposit requirements but have not received a cash bonus in your Checking account, please contact us at 855-456-7634 with the details of your Eligible Direct Deposit. Direct Deposit Promotion begins on 12/7/2023 and will be available through 1/31/2026. Full terms at sofi.com/banking. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC. SoFi members with Eligible Direct Deposit can earn 3.60% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the 3.60% APY for savings (including Vaults). Members without Eligible Direct Deposit will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 11/12/25. There is no minimum balance requirement. Fees may reduce earnings. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet.
2. APY disclosures
Annual percentage yield (APY) is variable and subject to change at any time. Rates are current as of 11/12/25. There is no minimum balance requirement. Fees may reduce earnings. Additional rates and information can be found at https://www.sofi.com/legal/banking-rate-sheet
3. Fee Policy
We do not charge any account, service or maintenance fees for SoFi Checking and Savings. We do charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incomingwire transfers, however the sending bank may charge a fee. Our fee policy is subject to change at any time. See the SoFi Bank Fee Sheet for details at sofi.com/legal/banking-fees/.
4. Additional FDIC Insurance
SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per depositor per legal category of account ownership, as described in the FDIC’s regulations. Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $3M through participation in the program. See full terms at SoFi.com/banking/fdic/sidpterms. See list of participating banks at SoFi.com/banking/fdic/participatingbanks.
5. ATM Access
We’ve partnered with Allpoint to provide you with ATM access at any of the 55,000+ ATMs within the Allpoint network. You will not be charged a fee when using an in-network ATM, however, third-party fees may be incurred when using out-of-network ATMs. SoFi’s ATM policies are subject to change at our discretion at any time.
6. Early Access to Direct Deposit Funds
Early access to direct deposit funds is based on the timing in which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled payment date, but may vary.
7. Overdraft Coverage
Overdraft Coverage is a feature automatically offered to SoFi Checking and Savings account holders who receive at least $1,000 or more in Eligible Direct Deposits within a rolling 31 calendar day period on a recurring basis. Eligible Direct Deposit is defined on the SoFi Bank Rate Sheet, available at https://www.sofi.com/legal/banking-rate-sheet. Members enrolled in Overdraft Coverage may be covered for up to $50 in negative balances on SoFi Bank debit card purchases only. Overdraft Coverage does not apply to P2P transfers, bill payments, checks, or other non-debit card transactions. Members with a prior history of unpaid negative balances are not eligible for Overdraft Coverage. Eligibility for Overdraft Coverage is determined by SoFi Bank in its sole discretion. Members can check their enrollment status, if eligible, at any time by logging into their account through the SoFi app or on the SoFi website.
8. 0.70% Savings APY Boost
Earn up to 4.30% Annual Percentage Yield (APY) on SoFi Savings with a 0.70% APY Boost (added to the 3.60% APY as of 11/12/25) for up to 6 months. Enroll in SoFi Plus between 9/18/25 and 1/31/26. Rates variable, subject to change. Terms apply at sofi.com/sofi-plus SoFi Bank, N.A. Member FDIC.
Earn 4.00% APY* with Barclays' Tiered Savings Account
- $0 Min. Balance to Earn APY on Barclays' Tiered Savings
- No Monthly Maintenance Fees
- Easy Direct Deposits & Online Transfers
- Deposits are FDIC Insured
*Rate as of 11/19/2025
* Barclays Tiered Savings Annual Percentage Yields (APYs) are accurate as of 01/13/2025 and may change at any time without prior notice, before or after the account is opened. The APYs are determined by the Balance Tiers (Tiers) and the amount deposited. The same rate may apply to multiple Tiers and Tiers may change without notice. APY is calculated based on the Tier into which the end of day account balance falls. Fees could reduce the earnings on the account. No minimum balance to open, but for interest to post to your account you must maintain a minimum balance that would earn you at least $0.01. Please see the Compare Account Page for current Tier and APY information. The APY for the Barclays Tiered Savings account for balance tiers greater than $250,000 are currently 10X the national average of 0.46% APY, based on the national average of savings account rates published in the FDIC's National Rates and Rate Caps, accurate as of 09/16/2024.
Earn 3.75% APY* with Platinum Savings
-
With a Balance of $5,000 or More*
-
Earn 0.25% APY with a Balance of Less than $5k*
-
$100 Minimum Deposit to Open Account
-
No Account Opening or Monthly Service Fees
-
CIT Bank Account is FDIC Insured
*For complete list of account details and fees, see our Personal Account disclosures
1 Platinum Savings is a tiered interest rate account. Interest is paid on the entire account balance based on the interest rate and APY in effect that day for the balance tier associated with the end-ofday account balance. *APYs — Annual Percentage Yields are accurate as of November 20, 2025: 0.25% APY on balances of $0.01 to $4,999.99; 3.75% APY on balances of $5,000.00 or more. Interest Rates for the Platinum Savings account are variable and may change at any time without notice. The minimum to open a Platinum Savings account is $100.
2 Based on comparison to the national average Annual Percentage Yield (APY) on savings accounts as published in the FDIC National Rates and Rate Caps, accurate as of November 17, 2025.
Enjoy hassle-free banking and earn 4.20% APY* with no more hidden fees.
- Enjoy free monthly maintenance
- Watch your savings grow with daily compounded interest.
- Deposit anytime, anywhere with unlimited mobile check deposits.
- Deposits are FDIC-insured up to $250,000
*Rate as of 10/10/2025
Money management is an essential skill, and the right student bank account can help you learn the ropes. Many student bank accounts come with low (or no) fees and less stringent requirements.
To help you find the best banks and credit unions for students, Money researched over 50 financial institutions. Based on their student offerings, fees and customer service, here are our choices for the best banks and credit unions for students for 2026:
- PNC – Best Overall
- FourLeaf Credit Union – Best for High School Students
- Bank of America – Best for Checking
- Poppy Bank – Best High-Yield Savings
- Citizens – Best Free Account
- Chase – Best for New Account Offer
*Rates and APYs are subject to change. All information provided was accurate as of Oct. 14, 2025.
Best Overall: PNC
PNC gets the nod as the best overall bank for students. Its Virtual Wallet Student is specifically designed for young learners, combining checking and savings with digital tools to help students better manage their money. The account offers no monthly service fees for up to six years, financial webinars, educational articles and calculators to help students budget, plan and save money.
With the PNC app's Low Cash Mode, students have more control of their funds when their balances are low, providing extra time to get their balances out of the negative. PNC's network of 60,000 fee-free ATMs provides exceptional accessibility. However, the bank's Virtual Wallet Savings APY of 0.03% is relatively low, and although its student checking account is interest-bearing, its APY is just 0.01% and there is a $25 minimum balance requirement.
- A wealth of educational resources for students
- Interest-bearing checking
- No monthly service fees for up to six years
- Relatively low APYs
- Minimum balance requirement for checking
- Overdraft fees
Best for High School Students: FourLeaf Credit Union
FourLeaf has 480,000 members and 37 publicly accessible branches throughout Long Island, New York City and New Jersey, but members are not required to live in that region — residents of all 50 states can join with just a minimum $5 share account deposit. The credit union's student checking account is designed for learners ages 13 to 20. The account does not carry a minimum balance requirement nor does it have monthly service fees or overdraft fees. FourLeaf offers 30,000 fee-free ATMs nationwide through the Co-op ATM Network.
One thing to consider is that FourLeaf's student checking account is not interest-bearing, and while its student savings account currently offers an APY of 5.00%, that is limited to balances up to $1,000. When account holders reach the age of 21, the Student Checking Account automatically converts to a FourLeaf Free Checking Account.
- No minimum balance, service fees or overdraft fees
- Open to students ages 13 to 20
- High APY on balances up to $1,000
- Student checking account is not interest-bearing
- Users report comparatively outdated digital banking tools
Best for Checking: Bank of America
For the second year in a row, Bank of America is Money's top pick for the best checking account for students. The second largest bank in the U.S. by consolidated assets offers to checking accounts for students: the SafeBalance Banking account (available to those ages 16 and older) and the SafeBalance for Family Banking account (with parental controls and available to those ages six to 16). Both accounts automatically decline all overdrafts. Additionally, neither charge monthly maintenance fees.
For students over the age of 25, Bank of America will charge monthly maintenance fees. However, that fee can be waived by maintaining an average daily balance of $500. These accounts also include the Keep the Change program, which rounds up purchases to the nearest dollar and deposits the difference in a savings account. Bank of America's ATM network has 15,000 locations, but it doesn't reimburse for out-of-network fees.
- No monthly service fees
- Parental controls for those ages 6 to 16
- Automatic and permanent overdraft decline setting
- No paper checks
- No out-of-network ATM reimbursement
- Monthly service fees after age 25
Best for High-Yield Savings: Poppy Bank
Poppy Bank's Poppy Student Savings accounts make the financial institution a clear-cut winner for this category. The bank currently offers a 4.00% APY for those accounts, combined with no monthly service charges or transaction fees. However, student savings accounts carry a $50 minimum balance requirement. While the bank's branches are limited to California locations, its 61,000 surcharge-free nationwide ATMs make the bank accessible to those around the country.
Poppy Bank also offers student checking accounts, but they aren't interest-bearing and also require a $50 minimum balance. Poppy Bank is 5-star rated by BauerFinancial, the nation's leading independent bank and credit union rating firm, demonstrating superior security and stability.
- No monthly service fees
- High APY for student savings accounts
- Exceptional security rating
- $50 minimum balance requirement
- Charges overdraft fees
Best Free Account: Citizens
Citizens Student Banking includes both fee-free checking and savings accounts for young learners. The accounts do not require minimum balances, nor do the charge overdraft fees. Although Citizens' student checking accounts are interest-bearing, they offer a relatively low APY. The bank also offers students unlimited fee-free ATM use. That is helpful since Citizens operates 991 branches in 11 states, but its ATM network is limited to 3,200 locations.
Citizens also provides students with industry-leading tools, webinars and an extensive content library aimed at helping them improve their financial literacy at a crucial age. Additionally, its college planning platform — College Raptor — provides a one-stop shop for discovering affordable colleges, choosing majors and career paths and finding scholarships.
- Fee-free student checking and savings
- No minimum balance requirements
- A wealth of financial education content
- Relatively low APY on student checking
- Comparatively lower Trustpilot rating
Best for New Account Offer: Chase
Chase is well-known as a banking behemoth. The financial institution is the largest in the United States by consolidated assets, and its product and service offerings are top-tier. The bank operates 5,038 branches in 48 states but is available to customers in all 50 states. Currently, Chase is offering a $125 bonus for students who open a new Chase College Checking account and complete at least 10 qualifying transactions within 60 days of opening the account. That offer is available to students ages 17 to 24 and expires on Oct. 15, 2025.
Both its Chase College Checking and Chase High School Checking accounts are fee-free, but the bank does charge overdraft fees for its college account holders. Additionally, its student checking accounts are not interest-bearing.
- Operates 5,038 branches in 48 states
- Offering an attractive new account bonus for students
- No monthly service fees for high school and college checking
- Charges college students overdraft fees
- Student checking is not interest-bearing
- Out-of-network ATM fees
It's never too late to start saving — compare rates & start earning interest!
Up to 2-day-early paycheck
Earn up to 4.30% APY*
- Limited Time Offer - New accounts earn a 0.70% APY boost to 4.30% for up to 6 months with eligible direct deposit*
- $0 min. balance to earn APY
- Open Checking & Savings Accounts with 1 Sign Up
- Up to 2-Day-Early Paycheck3
- FDIC Insured up to $250k plus up to $3M in supplemental insurance4
- No Account Fees5 & No-fee Overdraft Coverage6
*Terms Apply
No monthly maintenance fees
- $0 Min. Balance to Earn APY on Barclays' Tiered Savings
- No Monthly Maintenance Fees
- Easy Direct Deposits & Online Transfers
- Deposits are FDIC Insured
*Rate as of 11/19/2025
Open an account in 5 minutes
- With a Balance of $5,000 or More*
-
Earn 0.25% APY with a Balance of Less than $5k*
-
$100 Minimum Deposit to Open Account
-
No Account Opening or Monthly Service Fees
-
CIT Bank Account is FDIC Insured
No hidden fees
Enjoy hassle-free banking and earn 4.20% APY* with no more hidden fees.
- Enjoy free monthly maintenance
- Watch your savings grow with daily compounded interest.
- Deposit anytime, anywhere with unlimited mobile check deposits.
- Deposits are FDIC-insured up to $250,000
*Rate as of 10/10/2025
How we chose the Best Banks of 2026
To determine our list of Best Banks for 2026, Money staff evaluated hundreds of the largest retail banks, credit unions, regional and state banks, ranked by assets, and 20 of the most popular online banks. We then compared opening balance requirements, interest paid, fees and features to determine our top picks.
To determine 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 particular emphasis on banks that offer accounts to high school and college students. We also prioritized banks with broad ATM networks and low fees.
You can read our full methodology here.