Checking Account Guide For College Students
Between juggling coursework, cramming for exams, and maintaining a social life, college is an absolute whirlwind. Toss a part-time job into the mix, and finding the time to manage your finances can feel downright overwhelming.
That’s where a reliable checking account comes in. Far from just a place to hold your cash, the right account gives you a quick, seamless way to deposit paychecks, split bills with roommates, and handle daily purchases without the headache.
To help you cut through the noise, we’ve put together a comprehensive guide to checking accounts built specifically for the unique needs of college students.
A checking account, also known as a demand deposit account, is designed for everyday transactions. You can deposit money into your checking account either in person or online, and you can also receive funds directly, such as from your part-time job.
When you need to access the money in your checking account, you can do so using a debit card, a mobile wallet app (like Apple Pay®, Google Pay™, or Samsung Pay®), or through online and mobile bill pay. If you have a checkbook, you can also make payments using traditional paper checks.
As we mentioned earlier, a checking account simplifies your financial life by offering an efficient way to save money and handle your everyday expenses while you attend college. Here are some key benefits of having a checking account.
Convenient Access To Funds: From school books and supplies to groceries and living expenses, you will need access to money throughout your college years. A checking account with a linked debit card enables you to make these and countless other purchases. Plus, you can make a deposit or withdrawal from an ATM. Keep in mind that using an out-of-network ATM may incur a fee when withdrawing money.
Direct Deposit: Whether your parents send you money for college expenses or you earn income from a part-time job, it's important to have a safe, dedicated place to receive and save your funds. A checking account enables authorized third parties to deposit funds directly into your account. This method is faster and more secure than using paper checks.
No Need To Carry Cash: Carrying cash while you walk around a college campus and attend classes can be risky, as it can get lost or stolen. The same risk applies if you store your money in your apartment or dorm room. By keeping your money in a checking account, you can have peace of mind knowing it's in a safe, secure location.
Simple Expense Tracking: The purchases you make while attending college can add up fast. To track where your money is going, such as your debit card purchases, log into your bank account or mobile app to view your checking account history. This is a great way to stay on top of your budget and cash flow and to take steps to avoid overspending.
Set Up Recurring Payments: Paying your bills on time is essential to your financial health. It can help protect or even boost your credit score and prevent costly late fees. By setting up recurring payments from your checking account for expenses such as streaming services, housing or rent, utilities, and health insurance, you can ensure these bills are paid on time.
Ameris Bank provides several personal checking account options tailored to meet the different financial needs and preferences of college students. Each checking account is user-friendly and includes online and mobile banking,1 account alerts, and a Visa® debit card for in-store, online, and in-app purchases, as well as ATM withdrawals nationwide.2 Plus, there is up to a $10 buy back for unused checks and debit cards from your previous financial institution.3
The following is an overview of the different types of checking accounts available.
Free Checking: The Free Checking Account from Ameris Bank, as the name suggests, has no minimum balance requirements and no monthly service fee. You can open this account with a minimum deposit of $50. If you need checks, they are available for purchase. Please note that this type of account does not earn interest.
Benefits Checking: The Benefits Checking Account from Ameris Bank includes several features, such as IDProtect® identity theft monitoring,4 credit file monitoring,5 and cell phone protection,6 among others. This account can be opened with a minimum deposit of $50 and has a low monthly service fee of $8 (or $6 when you enroll in paperless statements), with no minimum balance requirements. Checks are available for purchase, and this account also does not earn interest.
Interest Checking: The Interest Checking Account from Ameris Bank is a great option if you want to earn interest on your balance. You can open this account with a minimum deposit of $50. There is a $20 monthly service fee, which is waived if the combined average daily balance of all your personal Ameris Bank deposits is $10,000 or more.7 You will have access to any ATM nationwide, and all ATM fees will be reimbursed. Plus, standard wallet-size checks are provided free of charge.
Whether you are about to start your first year of college or are already attending and want to open a checking account, our bankers are ready to help. Don't hesitate to contact us today.
The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. Ameris Bank does not endorse nor is affiliated with the companies listed in this article.
1 - Supported carriers include: AT&T, T-Mobile, U.S. Cellular, Sprint, Verizon Wireless, MetroPCS, and Cricket. Message and data rates may apply. Apple, the Apple logo, iPhone, iPad and App Store are trademarks of Apple Inc., registered in the U.S. and other countries. Android, the Android Logo and the Google Play Store logo are trademarks of Google Inc, registered in the U.S. and other countries.
2 - ATM Usage: You may use an Ameris Bank debit card at any Ameris Bank ATM free of charge. If you use a non-Ameris Bank ATM, you will incur a service charge in addition to any ATM service charge assessed by the owner of the ATM. See our Miscellaneous Services Pricing Guide for details.
3 - Offer applies to new checking account openings only. Earn up to $10 for debit cards and unused checks from another financial institution. Funds will be credited to the account at the time the checks/debit cards are presented.
4 - IDProtect service is a personal identity theft protection service available to account owner(s) and their joint account holders. For revocable grantor trusts, the service is available only when a grantor is serving as a trustee and covers the grantor trustee(s). For all other fiduciary accounts, the service covers the beneficiary, who must be the primary member (Fiduciary is not covered). Service is not available to a “signer” on the account who is not an account owner. Service is not available to clubs, organizations and/or churches and their members, schools and their employees/students.
5 - Credit file monitoring may take several days to begin following activation.
6 - 5 Special Program Notes: The descriptions herein are summaries only and do not include all terms, conditions and exclusions of the Benefits described. Please refer to the actual Guide to Benefit and/or insurance documents for complete details of coverage and exclusions. Coverage is offered through the company named in the Guide to Benefit or on the insurance document. Guide to Benefit and insurance document will be included in follow-up letter after account opening. Insurance Products are not insured by the FDIC or any Federal Government Agency; not a deposit of or guaranteed by the Bank or any Bank affiliate. Cell phone protection covers the first three phones on a cellular telephone bill paid through your checking account. (Cellular telephone bill must be paid through Benefits Checking Account).
7 - The monthly service fee will become effective after the first two statement cycles.
That’s where a reliable checking account comes in. Far from just a place to hold your cash, the right account gives you a quick, seamless way to deposit paychecks, split bills with roommates, and handle daily purchases without the headache.
To help you cut through the noise, we’ve put together a comprehensive guide to checking accounts built specifically for the unique needs of college students.
Checking Account Overview
A checking account, also known as a demand deposit account, is designed for everyday transactions. You can deposit money into your checking account either in person or online, and you can also receive funds directly, such as from your part-time job.When you need to access the money in your checking account, you can do so using a debit card, a mobile wallet app (like Apple Pay®, Google Pay™, or Samsung Pay®), or through online and mobile bill pay. If you have a checkbook, you can also make payments using traditional paper checks.
Benefits Of Having A Checking Account
As we mentioned earlier, a checking account simplifies your financial life by offering an efficient way to save money and handle your everyday expenses while you attend college. Here are some key benefits of having a checking account.Convenient Access To Funds: From school books and supplies to groceries and living expenses, you will need access to money throughout your college years. A checking account with a linked debit card enables you to make these and countless other purchases. Plus, you can make a deposit or withdrawal from an ATM. Keep in mind that using an out-of-network ATM may incur a fee when withdrawing money.
Direct Deposit: Whether your parents send you money for college expenses or you earn income from a part-time job, it's important to have a safe, dedicated place to receive and save your funds. A checking account enables authorized third parties to deposit funds directly into your account. This method is faster and more secure than using paper checks.
No Need To Carry Cash: Carrying cash while you walk around a college campus and attend classes can be risky, as it can get lost or stolen. The same risk applies if you store your money in your apartment or dorm room. By keeping your money in a checking account, you can have peace of mind knowing it's in a safe, secure location.
Simple Expense Tracking: The purchases you make while attending college can add up fast. To track where your money is going, such as your debit card purchases, log into your bank account or mobile app to view your checking account history. This is a great way to stay on top of your budget and cash flow and to take steps to avoid overspending.
Set Up Recurring Payments: Paying your bills on time is essential to your financial health. It can help protect or even boost your credit score and prevent costly late fees. By setting up recurring payments from your checking account for expenses such as streaming services, housing or rent, utilities, and health insurance, you can ensure these bills are paid on time.
Types Of Checking Accounts Available At Ameris Bank
Ameris Bank provides several personal checking account options tailored to meet the different financial needs and preferences of college students. Each checking account is user-friendly and includes online and mobile banking,1 account alerts, and a Visa® debit card for in-store, online, and in-app purchases, as well as ATM withdrawals nationwide.2 Plus, there is up to a $10 buy back for unused checks and debit cards from your previous financial institution.3The following is an overview of the different types of checking accounts available.
Free Checking: The Free Checking Account from Ameris Bank, as the name suggests, has no minimum balance requirements and no monthly service fee. You can open this account with a minimum deposit of $50. If you need checks, they are available for purchase. Please note that this type of account does not earn interest.
Benefits Checking: The Benefits Checking Account from Ameris Bank includes several features, such as IDProtect® identity theft monitoring,4 credit file monitoring,5 and cell phone protection,6 among others. This account can be opened with a minimum deposit of $50 and has a low monthly service fee of $8 (or $6 when you enroll in paperless statements), with no minimum balance requirements. Checks are available for purchase, and this account also does not earn interest.
Interest Checking: The Interest Checking Account from Ameris Bank is a great option if you want to earn interest on your balance. You can open this account with a minimum deposit of $50. There is a $20 monthly service fee, which is waived if the combined average daily balance of all your personal Ameris Bank deposits is $10,000 or more.7 You will have access to any ATM nationwide, and all ATM fees will be reimbursed. Plus, standard wallet-size checks are provided free of charge.
Whether you are about to start your first year of college or are already attending and want to open a checking account, our bankers are ready to help. Don't hesitate to contact us today.
The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. Ameris Bank does not endorse nor is affiliated with the companies listed in this article.
1 - Supported carriers include: AT&T, T-Mobile, U.S. Cellular, Sprint, Verizon Wireless, MetroPCS, and Cricket. Message and data rates may apply. Apple, the Apple logo, iPhone, iPad and App Store are trademarks of Apple Inc., registered in the U.S. and other countries. Android, the Android Logo and the Google Play Store logo are trademarks of Google Inc, registered in the U.S. and other countries.
2 - ATM Usage: You may use an Ameris Bank debit card at any Ameris Bank ATM free of charge. If you use a non-Ameris Bank ATM, you will incur a service charge in addition to any ATM service charge assessed by the owner of the ATM. See our Miscellaneous Services Pricing Guide for details.
3 - Offer applies to new checking account openings only. Earn up to $10 for debit cards and unused checks from another financial institution. Funds will be credited to the account at the time the checks/debit cards are presented.
4 - IDProtect service is a personal identity theft protection service available to account owner(s) and their joint account holders. For revocable grantor trusts, the service is available only when a grantor is serving as a trustee and covers the grantor trustee(s). For all other fiduciary accounts, the service covers the beneficiary, who must be the primary member (Fiduciary is not covered). Service is not available to a “signer” on the account who is not an account owner. Service is not available to clubs, organizations and/or churches and their members, schools and their employees/students.
5 - Credit file monitoring may take several days to begin following activation.
6 - 5 Special Program Notes: The descriptions herein are summaries only and do not include all terms, conditions and exclusions of the Benefits described. Please refer to the actual Guide to Benefit and/or insurance documents for complete details of coverage and exclusions. Coverage is offered through the company named in the Guide to Benefit or on the insurance document. Guide to Benefit and insurance document will be included in follow-up letter after account opening. Insurance Products are not insured by the FDIC or any Federal Government Agency; not a deposit of or guaranteed by the Bank or any Bank affiliate. Cell phone protection covers the first three phones on a cellular telephone bill paid through your checking account. (Cellular telephone bill must be paid through Benefits Checking Account).
7 - The monthly service fee will become effective after the first two statement cycles.