Students looking for an easy way to make $ 100 should take the Chase College Checking℠ accountChase will pay you $ 100 after you complete 10 eligible transactions, such as debit card purchases or direct deposits, within 60 days of opening your account.
With this account, you can also save money on costs: while you’re enrolled in college, Chase waives the $ 6 monthly fee, up to a maximum of five years. That’s up to $ 360 in savings that can help when money is tight.
Here’s what you need to know about the Chase College Checking account, from APY, access to your money, perks and fees.
Information about the Chase College Checking℠ account has been independently collected by CNBC and has not been verified or provided by the bank prior to publication. Chase is a member of the FDIC.
Monthly maintenance costs
$ 6, with options to opt out, including being a student ages 17 to 24
Minimum deposit to open
$ 5,000 average starting balance unless you are a college student ages 17 to 24
Annual Percent Yield (APY)
Free ATM network
Cash Machine Fee
Current account fee
Mobile check deposit
Deposits do not earn interest with this checking account.
You can withdraw money daily from an ATM or visit one of the 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. Cash 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
- Earn a $ 100 Bonus, upon completion of 10 eligible transactions within 60 days of account opening. Eligible transactions include debit card purchases, online bill payments, and Chase QuickPay® with Zelle®. Offer valid until 4/8/2021.
- No deposit required to open an account
- Top rated mobile app, with 4.8 out of 5 stars in the Apple® App Store.
- Zelle is integrated directly into the Chase mobile appso you can send and receive money in minutes.
- More than 16,000 Chase ATMsso you can deposit or withdraw cash at no cost.
- Mobile check depositso you can easily upload and deposit photos of checks from within the Chase mobile app.
The Chase College Checking account comes with a lot of standard checking account costs, but there are ways to avoid them. The monthly maintenance fee of $ 6 is waived if you are a 17 to 24 year old student when opening an account. You only need to show proof of registration, this can be a valid student card or letter of acceptance.
The fee is waived only for students up to age five, so you must meet one of these requirements to keep the fee afterward:
- Make a direct deposit or every month
- Have an average daily balance of at least $ 5,000.
The $ 2.50 to $ 5 fee of ATMs can be avoided when using one of Chase’s 16,000 in-network ATMs.
There is an overdraft fee of $ 34 for any transaction over $ 5, up to a maximum of three overdraft fees per day. Avoid these charges by making a same day deposit or bank transfer to cover the overdraft amount.
The Checking Chase College Account can help students avoid annoying monthly maintenance costs and even make you $ 100. Account holders have the flexibility to bank online, with a high-quality mobile app and Zelle access, and at more than 4,700 branches in more than 30 states.
Editor’s note: Opinions, analysis, reviews, or recommendations in this article are those of the CNBC Select editorial board alone and have not been reviewed, approved, or otherwise endorsed by any third party.
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