*The Chase College Checking℠ Account is no longer available for new account openings.
College students looking for an easy way to earn $125 should consider the Chase College Checking℠ account. Chase will pay you $125 after you make 10 qualifying transactions, like debit card purchases or direct deposits, within 60 days of coupon enrollment (offer ends 10/15/2025).
This account also allows you to save money on fees: While you’re enrolled in college or a vocational, technical or trade school, up to the graduation date provided at account opening (five years maximum) for students 17-24 years old, Chase will waive the $12 monthly fee ($15, effective 8/24/2025). That can help out when money is tight.
Here’s what you need to know about the Chase College Checking account, from APY, access to your cash, perks and fees.
Chase College Checking review
Chase College Checking℠
Annual Percentage Yield (APY)
None
Minimum balance
Keep an average ending day balance of $1,500 or more in your checking account to waive monthly service fee
Monthly fee
$0 Monthly Service Fee for students 17 to 24 years old at account opening, enrolled in college or a vocational, technical or trade school, up to the graduation date provided at account opening (five years maximum) or $12 Monthly Service Fee
Free ATM network
With over 4,700 branches, Chase has the largest branch network in the U.S. plus access to more than 15,000 ATMs.
ATM fee reimbursement
None
Overdraft fee
With Chase Overdraft Assist℠, Chase doesn't charge an Overdraft Fee if you're overdrawn by $50 or less at the end of the business day OR if you're overdrawn by more than $50 and you bring your account balance to overdrawn by $50 or less at the end of the next business day (you have until 11 PM ET, 8 PM PT, to make a deposit or transfer). Chase Overdraft Assist does not require enrollment and comes with eligible Chase checking accounts
Mobile check deposit
Yes
Terms apply.
JPMorgan Chase Bank, N.A. Member FDIC
APY
Deposits won’t earn interest with this checking account.
Access to your cash
You can withdraw money daily at an ATM or visit one of 4,700 Chase branches. Zelle is also integrated into the Chase app, so you can send and receive money in minutes.
Debit card purchases are limited to $3,000 per day. ATM withdrawals have several restrictions, depending on the ATM:
- Chase in-branch ATM limit: $3,000
- Other Chase ATM limit: $1,000
- Non-Chase ATM limit: $500
Perks
- Earn a $125 bonus, after completing 10 qualifying transactions within 60 days of account opening. Eligible transactions include debit card purchases, online bill payments and Chase QuickPay® with Zelle®. (offer ends 10/15/2025)
- No deposit required to open an account.
- Top-rated mobile app, with 4.8 out of 5 stars on the Apple® App Store.
- Zelle is integrated directly into the Chase mobile app, allowing you to send and receive money within minutes.
- Over 15,000 Chase ATMs, allowing you to deposit or withdraw cash without fees.
- Mobile check deposit, allowing you to conveniently upload photos of checks and deposit them from within the Chase mobile app.
Fees
The Chase College Checking account comes with many standard checking account fees, but there are ways to avoid them. The $12 monthly maintenance fee ($15, effective 8/24/2025) can be waived if you’re a college student 17 to 24 at account opening. You just need to show proof of enrollment, which can be a valid student ID or acceptance letter.
The fee is only waived for college, vocational, technical or trade school students up to five years, so you’ll need to meet one of these requirements to keep the fee waiver after that:
- Make one direct deposit each month or
- Maintain an average daily balance of at least $5,000.
The $3.00 to $5 ATM fee per withdrawal can be avoided when you use one of the 15,000+ of Chase’s ATMs.
How does it compare?
If you aren't convinced the Chase College Checking account is right for you, here's how it stacks up against a few other student-focused checking accounts on the market.
The Capital One MONEY Teen Checking account is another option from a reputable bank. It doesn't charge a monthly maintenance fee at all (unlike with the Chase account where there is a monthly fee that is waived if you're between the ages of 17–24. One huge draw with the Capital One account is that it offers 0.10% APY on account balances. It may not be much but it can still be better than nothing at all.
The Chase account doesn't offer interest payments on your balances, so if you're looking to grow your savings through monthly interest, the Capital One account is the better option between the two.
Capital One MONEY Teen Checking
Annual Percentage Yield (APY)
0.10% APY
Minimum deposit/balance
None
Monthly maintenance fee
None
Overdraft fee
None
Offers debit card?
Yes
ATM access
70,000+ fee-free ATMs nationwide; no ATM fee reimbursement
Parental controls
Parents can lock or unlock their kid's debit card, but can't set spending limits or block certain transactions
Terms apply.
Pros
- Ideal for all young ages (ages 8+ eligible)
- Parent or guardian on teen checking account doesn't need a Capital One account; can link external bank accounts outside of Capital One
- 0.10% APY
- No minimum deposit/balance requirements
- No monthly service fee
- No overdraft fee
- No foreign transaction fee
- Large fee-free ATM network
- Parents can set up alerts, lock/unlock kid’s debit card, schedule automatic allowance, reward kids for savings goals
- Capital One has physical branches (but not nearly as much as other big banks)
Cons
- No ATM fee refund
- Daily limits apply on debit card purchases and withdrawals (including ATM withdrawals)
The Discover® Cashback Debit Checking account also offers a pretty sweet reward: accountholders can earn 1% cash back on up to $3,000 in debit card purchases each month. This means you get rewarded for spending money you'd have to spend anyway — like on school supplies, campus events and more. Granted, the checking account isn't specifically marketed toward students but its features — like no monthly fee, no minimum deposit to open the account and no overdraft fee — make it feel more favorable to students who may not be able to meet the minimum requirements and fees charged by other accounts.
The Chase account offers the $125 bonus but you can only earn this once. The cashback with the Discover checking account can be earned any time on up to $3,000 per month and the cashback rewards you earn don't expire (unless you close your account).
- Top-rated mobile app
- No minimum deposit to open an account
- 1% cash back on up to $3,000 in debit card purchases each month
- Opt-in to free overdraft protection
- No overdraft fees
- No reimbursement for out-of-network ATM fees
FAQs
Is it worth opening a student bank account?
Opening a student bank account gives your student a chance to practice having the responsibility of managing a bank account of their own — usually without the same fees that regular bank accounts have. It also helps to have a place where they can directly deposit any money they make from part-time jobs.
Do banks have a free student account?
Many banks offer a checking account that can be tailored to the needs of a student by waiving the monthly fee or waiving other types of fees until the student reaches a certain age.
Do student bank accounts affect your credit score?
Bank accounts generally don't have any affect on your credit score.
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