Best Banks for Students, 2017
- (opens in new tab)
- (opens in new tab)
- (opens in new tab)
- Newsletter sign up Newsletter

The ideal bank for students will also appeal to parents who want to open an account alongside their child for quick and easy money transfers.
Our picks don't have many (or any) branches, but they charge low (or no) fees to maintain an account and withdraw cash, and they have strong mobile and digital features to make branchless banking more seamless.

BEST: Bank of Internet
Free, no-frills Essential Checking (opens in new tab) is a good choice for students and parents who want to bank together. There is no fee to open the account, no monthly maintenance fees, and no fee for withdrawals at any ATM in the U.S. or to transfer funds from a linked account or line of credit to cover overdrafts. Otherwise, Bank of Internet (opens in new tab) covers overdrafts on a case-by-case basis, but it doesn’t charge a fee when it does.
Parents can transfer funds between joint BofI accounts instantly or send money via Popmoney (opens in new tab), a payment app offered by a number of banks. At BofI, standard delivery (three business days) is free. Students (and parents) can also open a High Yield Savings account, which charges no monthly fees and yields a generous 0.61%.

RUNNER-UP: Alliant Credit Union
If you don't live near one of Alliant's 12 branches located in five states (opens in new tab), you and your family can bank using Alliant's strong online and mobile banking features. (You can join Alliant if you make a $10 donation to its partner charity, Foster Care to Success.) Kids between 13 and 17 are eligible for a free Teen Checking account (opens in new tab), which yields 0.65% as long as they receive e-statements and have one electronic deposit per month—a direct deposit, monthly ATM deposit or transfer from another bank. Once your teen turns 18, the account automatically converts to a no-interest Free Checking account, or your teen can switch to High Rate Checking (0.65% yield) by meeting requirements similar to the teen account. Alliant covers the $5 fee to open the mandatory regular savings account, which pays 1.05% on daily balances of $100 or more. Overdraft fees are a reasonable $25, and covering an overdraft with funds from a savings account costs $3 per day an overdraft is outstanding.
Circumventing ATM fees is easy: More than 80,000 ATMs in several networks are available free to Alliant members, and out-of-network ATM charges are reimbursed up to $20 per month. The mobile app offers a budgeting tool and in-app secure messaging, as well as account tracking and check deposit.

The Best Banks and Credit Unions for You, 2017
.kip-slideshow ul.kip-list-nobullet li {font-size: 14px;margin-bottom: 0;line-height: 1.5;}
These stellar banks and credit unions are making all the right moves to win satisfied customers:
-
-
When Is the Next Fed Meeting?
Investors, savers and consumers can expect another interest rate hike at the next Fed meeting.
By Dan Burrows • Published
-
Need an Estate Planning Checkup? Now Is the Perfect Time
An appointment with your estate planning attorney can address any holes that have developed and ensure everything is in place.
By Jack R. Hales Jr., J.D. • Published
-
The 25 Cheapest Places to Live: U.S. Cities Edition
places to live Take a look at our list of the cheapest places to live in America for city dwellers. Is one of the cheapest places to live in the U.S. right for you?
By Dan Burrows • Published
-
Should I Cancel Amazon Prime? Here Are 12 Good Reasons
Amazon Prime The giant retailer had a year of ups and downs, leaving many wondering: Do I need Amazon Prime?
By Bob Niedt • Published
-
10 Things to Know About Hurricane Insurance Claims
Becoming a Homeowner Hurricane damage? Know what’s covered, what isn’t, and how to make the most of your policy if you need to file a claim.
By Kimberly Lankford • Published
-
The Most Expensive Natural Disasters in U.S. History
Economic Forecasts Wind, water, fire and drought have all wreaked havoc on the United States. What’s been the worst?
By David Muhlbaum • Last updated
-
Amazon Prime Day 2022: Some of the Best Deals from Kiplinger Editors
Amazon Prime Amazon Prime Day is here. We’ve identified some great values on products and services, a number of which we’ve used ourselves.
By the editors of Kiplinger's Personal Finance • Last updated
-
10 Tax Deadlines for April 18 (Today is Not Just the Due Date for Your Tax Return)
tax deadline Between requesting a tax extension, making IRA or HSA contributions, and meeting other tax deadlines, there's more to do today than just filing your federal income tax return.
By Rocky Mengle • Last updated
-
Alternatives to Amazon Prime for Free Shipping and More
Amazon Prime You don’t need to pay Amazon Prime’s juiced $139 annual fee to find a wide swath of products online at different retailers.
By Bob Niedt • Last updated
-
40 Ways to Earn Extra Cash in 2022
business We flag a wide variety of cool side hustles to earn bonus bucks for expenses both expected and unexpected as we begin to emerge from the pandemic.
By Bob Niedt • Last updated