4 Best Student Bank Accounts: Options for All Ages

One of the best things about being enrolled in school is getting those student discounts — oh, and knowledge and learning, of course. Another great perk of being a student is access to exclusive student bank accounts, with options designed for elementary, high school and college students alike.

4 best bank accounts for students

• Best for college students: SoFi Checking and Savings
• Best for international students: Revolut
• Best for high school students: Chase First Banking
• Best for young students: Modak

Finder Score	Fee	Minimum deposit to open	Annual Percentage Yield (APY)
Best for college students
Finder score 9 Excellent SoFi Checking and Savings	Finder score 9 Excellent	$0 per month	$0	Up to 3.30%	Earn up to 4.00% APY on savings and $50 or $300 with direct deposit. Open a new SoFi Checking and Savings account by 31 December 2026, set up eligible direct deposit within 60 days, and maintain direct deposit for six months. T&Cs apply.	Go to site View details Compare product selection Compare	loading	Why we like it The SoFi Checking and Savings account is a hybrid option with no monthly fees and modern perks, making it highly accessible for college students. Earn up to 0.50% APY on checking and up to 1.00% APY on savings, and SoFi® works with Zelle. The bank also has tons of lending options that you can apply for right in the app. SoFi Plus members or those who meet deposit requirements can earn up to 3.30% APY on their savings balance. On the downside, SoFi is an online bank, so there are no branch locations. Pros & cons Pros Hybrid all-in-one-account $0 monthly fees or overdraft fees High APYs High FDIC insurance Cons No physical branches $4.95 fee for cash deposits at Green Dot locations SoFi Plus required for highest APYs
Best for international students
Finder score 9.6 Excellent Revolut	Finder score 9.6 Excellent	From $0 per month	$0	5.50% on balances of $0+ 4.50% on balances of $0+ 4.00% on balances of $0+	Join Revolut and get $20. Make your first virtual or physical Revolut card payment to receive $20 credited to your Revolut account. T&Cs apply.	Go to site View details Compare product selection Compare	loading	Why we like it The Revolut account is a multi-currency account with a no-fee option, and is geared toward frequent travelers or those who live in multiple countries, which can be great for international students. Spend in over 150 currencies, enjoy an allowance of free currency exchanges and earn up to 4% APY on balances in High Yield Account, and up to 3.25% APY in Savings. Revolut also offers unlimited virtual card creations, fee-free access to over 55,000 ATMs, access to stock trading and 24/7 customer support. But as a digital fintech, Revolut doesn't have any physical branches. Pros & cons Pros $0 monthly plan available Multi-currency spending Up to 4% APY on savings with free plan Create virtual debit cards 24/7 customer support Cons No physical branches Best perks require paid plan
Best for high school students
Finder score 8.6 Great Chase First Banking	Finder score 8.6 Great	$0 per month	$0	N/A	View details Compare product selection Compare	loading	Why we like it Chase First Banking is a teen checking account with no opening deposit or monthly fees, available to kids aged 6 to 17. It puts parents in the driver's seat, allowing them to monitor and control their kids' spending while still allowing kids to request funds from their parents' account. It has granular parental controls like spending alerts, ATM withdrawal limits, spending category restrictions, setting savings goals together and creating chores with allowances. And access over 4,700 branches across the US for in-person support. However, parents must have an existing Chase checking account before opening this one. Pros & cons Pros For ages 6 to 17 No monthly fees or opening deposit Chores tools and automatic allowance payments Granular parental controls Large branch network Cons Parent or guardians must have a Chase account Does not support direct deposit or check deposits Does not support digital wallets
Best for young students
Finder score 7.6 Great Modak	Finder score 7.6 Great	$0 per month		N/A	Go to site View details Compare product selection Compare	loading	Why we like it For young students, such as middle school or high school, the Modak Makers kids’ card is a top option since it has no age requirements for kids. There are no monthly fees, overdraft fees or foreign transaction fees. Parents manage the account via a Parent Portal, and can reload funds many ways, such as direct deposit, Apple Pay or regular transfers. A standout feature with Modak are the cash-redeemable rewards called Mobucks, which are earned in the app by completing challenges. On the downside, the MoCard doesn’t work at ATMs. Pros & cons Pros $0 monthly fees No age requirements Cash-redeemable rewards Strong parental controls Cons Online only Some reload methods have fees No ATM access

loading

Methodology: How we choose the best banks for students

Finder’s experts compare hundreds of bank accounts designed for students before picking the best banks, credit unions or fintechs that offer these accounts. To be considered for a spot on our best list, a student or kids’ bank account must meet these minimum requirements:

• $0 monthly fee
• $0 opening deposit requirement
• $0 overdraft fees, or offers overdraft protection services
• Reasonable requirements to earn APY, if offered

How old do you have to be to open a bank account?

In most cases, you must be at least 18 years old to open a bank account on your own. Some college accounts accept 17-year-olds, but as a minor, you can’t open a bank account without a parent or guardian. Minors need an adult to be a joint owner of the account. Once you turn 18, you can open an account on your own with most institutions across most states.

What do I need to open a student bank account?

Opening a student bank account isn’t much different from opening a typical account. If it’s a dedicated student checking or savings account, the bank may require proof of school enrollment. You’ll likely need the following documents to open a student bank account:

• Proof of school enrollment if required, such as transcripts, school ID or acceptance letter
• Government-issued ID
• Proof of address
• Social Security number
• Contact information, such as phone number and email address

What happens to my student account once I’m no longer a student?

Once you graduate or are no longer a student, your account may automatically convert to a regular, non-student account. However, some banks don’t do this automatically, so your student account may continue to exist as usual.

If you opened your account as a minor, you can contact your financial institution once you turn 18 to remove a parent or guardian from the account. You can also request to change your account type or close your student account and open a regular one.

Alternatives to student bank accounts

Whether student accounts just aren’t the right fit or you want to explore more options, here are some alternatives:

• Money market accounts (MMAs). An MMA is a deposit account that functions like a checking and savings account hybrid. It is interest-bearing, and most come with checkwriting privileges and a debit card. But an MMA often requires an opening deposit and may have monthly fees.
• Prepaid debit cards. A straightforward option for spending cash, prepaid debit cards can be used anywhere traditional debit and credit cards are accepted. However, you may encounter reload fees, monthly maintenance fees, inactivity fees and more — all of which can make them a more expensive option than a student checking account.
• High-yield savings account. These common deposit accounts are meant for stashing money away and earning interest passively. A savings account has transaction limits and isn’t meant for everyday spending. These accounts work well in addition to an existing checking account once you’ve accrued enough to set aside in savings.
• Credit cards. While you will need to be at least 18 — and at least 21 to get one without a cosigner — there are credit cards for students.

Bottom line

There’s no shortage of quality student bank accounts, but always compare monthly fees, features, rates and requirements before deciding.

If none of these accounts suit your needs, parents with teens can learn more about kid and teen banking, and college students can explore the best checking accounts on the market.

• Are there free teen bank accounts?

  Yes! Modak Makers, Chase First Banking and Capital One MONEY Teen Checking, are all no-fee teen banking options.

• What about Greenlight?

  Greenlight is a top option for kids’ and teen banking, but it isn’t free. Monthly fees start at $5.99 per month, but you’ll get a variety of features, such as chores and allowances, safety features, customizable parental controls and much more.

• Are there teen accounts that accept direct deposit?

  Yes, there are plenty of options, such as Greenlight, Modak Makers, Current, Step and Axos First Checking. Compare more teen accounts that accept direct deposit.

To make sure you get accurate and helpful information, this guide has been edited by Holly Jennings as part of our fact-checking process.

Written by

Bethany Hickey

Banking editor

Bethany Hickey is the banking editor and personal finance expert at Finder, specializing in banking, lending, insurance, and crypto. Bethany’s expertise in personal finance has garnered recognition from esteemed media outlets, such as Nasdaq, MSN, Yahoo Finance, GOBankingRates, SuperMoney, AOL and Newsweek. Her articles offer practical financial strategies to Americans, empowering them to make decisions that meet their financial goals. Her past work includes articles on generational spending and saving habits, lending, budgeting and managing debt. Before joining Finder, she was a content manager where she wrote hundreds of articles and news pieces on auto financing and credit repair for CarsDirect, Auto Credit Express and The Car Connection, among others. Bethany holds a BA in English from the University of Michigan-Flint, and was poetry editor for the university’s Qua Literary and Fine Arts Magazine. See full bio

Bethany's expertise

Bethany has written 448 Finder guides across topics including:

• Personal finance
• Banking
• Auto loans
• Insurance
• Cryptocurrency and NFTs