6 Things to Know Before Starting a Chase College Checking Account

VD February 02 2022

The chances are that if you are going through this article, you are already in college or ready to start this exciting journey anytime soon.

Considering that you are ready to take your financials into your hand, having a checking account will be a great idea. Going with the Chase College Checking Account is possibly the best option you can opt for.

The possible benefits of having a checking account

At the college level, the most significant advantage of having a checking account is that you will be more in control of your money and expenses. The account offers exceptional management tools for youngsters with some fantastic discounts. The account also allows you to purchase stuff online.

In addition, you are also given the option to have a debit card. The debit card allows you to withdraw cash from widespread ATMs within the United States. These types of accounts are made more compatible with the general financial habits of college students.

Eligibility requirements

The first requirement for opening a Chase College Checking account is the age limit. It would help if you fell within the age range of 17-24 years to be eligible. When opening a Chase College Checking account, you need to have your social security number, a copy of your driver's license, or a state-issued ID.

But if you are thinking about opening a Chase College Checking account by visiting any nearby branch, some additional documents will be pretty handy. We are talking about the Social Security card, driver's license with a clear photograph, and the Taxpayer Identification Number (TIN).

Pros of having a Chase College Checking account

  • Finding a Chase Bank branch office is relatively easy if we talk about the United States. It is one of the most prominent banks in the US. The bank is known to have more than 4700 branches throughout the country with a network of more than 16000 ATMs.
  • As the Chase College Checking account is for youngsters under the range of 17-24, the account offers special perks to account holders. For example, the Chase College Checking fee for such an account is 0 USD for the upcoming five years if your account remains in an active state.
  • The bank account is loaded with features designed specifically for the youth. A prominent example of such features is the online and mobile banking module. You can access the module of your choice during account creation. In this way, you will not have to pay extra bucks for services.
  • You get special access perks with the Chase College Checking account with other famous Chase accounts. You can also link your Chase College Checking account with a Chase savings account. In this way, you will use your savings account to save money from time to time.
  • Customer service is one of the great reasons why Chase College Checking account is so popular among the young generation of this country. You know youngsters are packed with energy. That's why the bank offers 24/7 support for Chase College Checking account holders to help them work on the go.
  • Most youngsters won't get it but opening a Chase College Checking account allows them to have a banking history. All of the transactions are considered part of official history with the Chase Bank. This gives you a prominent edge when applying for a credit card.
  • Besides these, you get some severe banking pros with the Chase College Checking account. These services include free-of-cost bill pay and banking services through the text. This can come in handy when network-based services aren't available.

Cons of having a Chase College Checking account

  • Probably the biggest con of having a Chase College Checking account is that Chase Bank doesn't operate in every state of the US. Of course, the bank has branches in states like California, Colorado, Michigan, Louisiana, Texas, and many more. But still, there are many states where the bank has a minute or zero presence.
  • The account allows you to possess a debit card that you can use conveniently at every Chase Bank ATM. The debit card is free, but some services still come with a fee. For example, a checkbook will cost you an additional fee at the time of account creation.
  • Remember, guys, it's good that you are already quite serious about money management and are willing to take things into your hand. But you need to understand that the Chase College Checking account is not interest-based. In other words, the account won't pay interest back.
  • There's one thing in particular about the Chase Bank ATMs that almost everyone hates. When you take a non-Chase debit card, the bank will charge you a service fee. Plus, this service fee is non-refundable. On the other hand, many banks out there offer ATM fee refunds.


How do I claim my Chase college offers?

To receive the bonus: 

  1. Open a new Chase College Checking account
  2. Complete 10 qualifying transactions within 60 days of enrollment.

When you've completed all of the above criteria, as well as 10 qualifying transactions having been recorded to your account, we'll transfer the bonus into your new account within 15 days. The enrolled account must not be closed or restricted at the time of payout in order to receive this Chase college offer. Eligibility may be limited depending on who owns the account.

Chase College Checking account fees and minimum balance

But why do even banks charge a service fee? The service fee is like how a bank gets paid for its services to you. These fees are cut from your account balance depending upon the type of service you have accessed. Most of the time, these services are non-refundable.

Considering that the Chase College Checking account offer is practically made for students, the bank won't charge you a buck in terms of services. This will be carried on for five years while in school/college. After the duration, the account will be automatically converted into a Chase Total Checking Account. Now, you will be charged a fixed 6 USD service fee as long as your bank account is in an inactive state.

Even the 6 USD fee will be waived off if your account meets specific requirements set by the bank. If you make one direct deposit per month and your average daily budget is fixed above 5000 USD, the service fee will be waived.

Final note

Overall, the Chase College Checking account is an absolute rockstar for the young generation of this country. The account is equipped with all the fantastic features usually required by youngsters.

Plus, if you are opening the account for the very first time, you have a chance to win a 100 USD bonus amount as well. To win the bonus, you need to complete ten qualifying transactions within a time limit of 60 days. Get the transactions, and the bank will pay you a 100 USD bonus!