Primeway Student Checking account review

A teen checking account specifically designed for students with extra rewards for good academic performance.

The Primeway Student Checking account offers students as young as 13 the chance to save and spend money. Primeway sweetens the deal with the opportunity to earn cash prizes for good grades and college scholarships. But its overdraft protection service can cost you.

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$0 per month

Fee

N/A

APY

$25

Minimum deposit to open

Details

APYN/A
Fee$0 per month
Minimum deposit to open$25
ATMs28,000 CO-OP ATMs, 55,000 Allpoint ATMs, and 31,000 Moneypass ATMs
ATM transaction fee$0
Out-of-network ATM fee$3
Overdraft fee$6
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Review by


Kimberly Ellis is a writer at Finder. She hails from New York City with a BA from Queens College and a New York State teaching certificate. After teaching in both public and private schools, Kimberly decided to take the world by storm and dive into the media industry — where she covers everything from home loans and investing to K–12 education and shopping. She’s also an aspiring polyglot, always in a book and forever on the hunt for the perfect classic red lipstick.

Expert review

Primeway offers a teen checking account with an array of unique perks that other financial institutions don’t typically offer, including cash prizes for good grades and scholarship opportunities. And while it’s a bit inconvenient to get in touch with customer service, it comes with an expansive ATM network.

But you’ll need to meet membership eligibility and open up a student savings account to be eligible. While it’s common that most checking accounts don’t earn interest, there are kids checking accounts out there that earn interest. If you prefer to open an interest-bearing checking account for your teen, look at Axos Bank First Checking, which earns 0.1% APY or Alliant Credit Union Free Teen Checking account, which earns 0.25% APY. Primeway offers a teen checking account with an array of unique perks that other financial institutions don’t typically offer, including cash prizes for good grades and scholarship opportunities. And while it’s a bit inconvenient to get in touch with customer service, it comes with an expansive ATM network.

But you’ll need to meet membership eligibility and open up a student savings account to be eligible. While it’s common that most checking accounts don’t earn interest, there are kids checking accounts out there that earn interest. If you prefer to open an interest-bearing checking account for your teen, look at Axos Bank First Checking, which earns 0.1% APY or Alliant Credit Union Free Teen Checking account, which earns 0.25% APY.

How do I open a Primeway Student Checking account?

Open a Primeway Student Checking account online using these seven steps:

  1. Go to the provider’s site and follow the steps to apply.
  2. From the Primeway Credit Union website.
  3. Choose Join now.
  4. Agree to the terms and select an eligibility option. Select Done and then, Get started.
  5. Choose Students and hit Open now in the pop-up.
  6. Input your child’s personal information, including name and Social Security number.
  7. Review the application.
  8. Enter the relevant details on how you’ll fund the account.

Eligibility

To be eligible for a Primeway Student Checking account, you must meet the following requirements:

  • Qualify for Primeway Credit Union membership
  • Student Savings account with a $5 minimum deposit
  • $25 minimum deposit on your Student Checking account
  • Students must be between the ages of 13 and 22
  • Requires an adult joint account holder if your child is under 18

Required information

You’ll need to provide the following details when applying:

  • Government-issued ID
  • Social Security number
  • First and last name
  • Contact information, including your phone number and email
  • Employment information

Who is eligible to join Primeway?

Qualify for credit union membership in two ways:

  • Live, work, worship or attend school in Houston, Texas or Washington, Fort Bend or Harris Counties
  • Work for a participating Primeway partner

What are the benefits of a Primeway Student Checking account?

A Primeway Student Checking might be a good choice for your teen for several reasons.

  • No annual or monthly maintenance fee. There are no recurring service charges to worry about.
  • Money management resources. Primeway offers a variety of cost of living and budgeting calculators to help your teen learn strong financial habits.
  • Eligible for scholarship opportunities. After your account is six months old, your child can apply for five annual scholarships totaling $10,500.
  • Eligible for the Good Grades Program. Students who earn all As and Bs on their report cards can win cash prizes.

What should I look out for?

Before joining Primeway, consider the following disadvantages of its Student Checking account:

  • Requires a savings account. Like with other credit unions, your teen needs to manage both a savings and checking account.
  • Overdraft protection fee. Primeway charges $6 per overdraft transfer. If you opt-in for its overdraft protection service, which covers your overdrawn accounts up to $1,000, it’ll cost up to $30 each time.

Primeway Credit Union’s ATM network and fees

Primeway members have an abundance of options when it comes to in-network, surcharge-free ATMs:

  • Eight local Primeway retail centers
  • 28,000 CO-OP ATMs
  • 55,000 Allpoint ATMs
  • 31,000 Moneypass ATMs
Primeway charges $3 per transaction if you use an ATM outside Primeway’s extensive network.

Compare Primeway Student Checking with other checking accounts

Name Product APY Minimum deposit to open ATMs Out-of-network ATM fee
Copper
Finder Rating: 4.6 / 5: ★★★★★
Copper
0.00%
$0
$0
Copper is a digital checking account that teaches your teen healthy money habits through interactive quizzes and an intuitive mobile app.
Jassby
Finder Rating: 4 / 5: ★★★★★
Jassby
N/A
$0
No access to ATMs
Jassby is a virtual debit card for kids, complete with chores and allowance tracking.
Axos Bank First Checking
Finder Rating: 5 / 5: ★★★★★
Axos Bank First Checking
0.10%
$50
Made for teens ages 13 to 17, this account earns 0.1% APY and has no monthly fees.
Alliant Credit Union Free Teen Checking
Finder Rating: 4.2 / 5: ★★★★★
Alliant Credit Union Free Teen Checking
0.25%
$0
80,000 ATMs for free
$0
No minimum or maximum balance and no monthly service fee.
Capital One MONEY
Finder Rating: 4.8 / 5: ★★★★★
Capital One MONEY
0.10%
$0
39,000+ Capital One and Allpoint ATMs nationwide
A teen checking account with zero fees.
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Compare up to 4 providers

How do I deposit or withdraw my money?

Access your funds in the following ways:

  • Primeway’s extensive ATM network, including Allpoint and Moneypass ATMs
  • Use your debit card
  • Paper checks
  • Bill pay services through its mobile or online banking services
  • Remote check deposit
  • Person-to-person payments through Zelle if your child is age 18 or older
  • Online transfers between two Primeway accounts

What other checking options does Primeway Credit Union offer?

Browse a couple of Primeway’s other checking accounts to find the right fit:

  • eChecking. A checking account with no monthly service fees.
  • Premier Checking. An interest-earning checking account with a $6 monthly fee, unless you maintain a $1,000 daily minimum balance.

How to contact Primeway Credit Union customer service?

Apart from popping into a branch, the only way to contact Primeway support is by calling 713-799-6200 on weekdays between 8:30 a.m. and 5:00 p.m. CT and Saturdays from 9 a.m. to 2 p.m. CT. Or, request a call back by filling out the form on Primeway’s Contact us page on its website.

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