Chase College Checking Account for International Students

If you don’t have a checking account, you should open one whether you’re just beginning college or have been studying for a while. Checking accounts make managing your finances simple, enabling you to deposit checks, pay bills, and make online purchases. Additionally, carrying a debit card is safer than carrying cash because you may immediately cancel the card if it is taken, limiting your losses.

Since you can monitor your account balance and all of your transaction and debit card purchases via the internet or on your monthly statement, having a checking account makes it simpler to keep track of your spending. If you decide you still want some cash in your pocket, it is simple to take money out of your account whenever you want using an ATM or by receiving cash back while making purchases.

Many banks provide checking accounts tailored for college students since they frequently have very different spending habits and concerns than people who recently joined the workforce. One illustration is the Chase College Checking account.

Chase College Checking Account: types

Here is all the information you need to know about the Chase accounts that are available, along with some key features to take into account.

Student Checking Account with Chase

You can use the Chase Student Checking Account to access ATMs worldwide, conduct online banking transactions, and quickly send money to US-based friends and family members using Chase QuickPay with Zelle.

There is a $6 monthly fee, but you can avoid it for up to 5 years while you’re in college. though you hold a minimum of $5,000 in the account or have a direct deposit made into the account each month even though you have graduated from college, you can still avoid paying the fee.

Checking Account for High School Chase

You might opt to open a Chase High School Checking account if you’re under the age of 17. From the age of 13, you are eligible to apply. You must visit a Chase branch to begin. When you reach 19, the account will be converted into a Chase Total Checking Account automatically. 

Also Read: BENEFITS PROVIDED BY CHASE BANK ON STUDENT CREDIT CARDS: A GUIDE

Eligibility Requirements

For college students aged 17 to 24, Chase College Checking is available. (Note that you can choose a Chase High School Checking account if you’re still in high school and convert it to a college checking account whenever you matriculate.)

The following criteria must be met to open a Chase College Checking account:

• Your Social Security number, a driver’s licence or other government-issued ID, and your contact details are needed to open an account online. 

• You will require two types of identification, such as a taxpayer identification number, driver’s licence with photo, or student ID with photo, Social Security card, to open a new account at a Chase branch location. 

• Documentation of your enrollment in a college or university as well as your anticipated graduation date is also required. It’s acceptable to use a transcript or an offer letter.

• As long as you have a passport with a photo and the Student INS I-20 or ICE I-20 form or DS-2019 form, you can still create a Chase College Checking account in any Chase branch even if you are not a U.S. student. Student status documentation and a residence address, whether domestic or international, are still required of non-U.S. students. 

Ask your local Chase branch for more information if you’re not sure if the identity or student status credentials you have qualify as such. There are no prerequisites for credit scores. 

Must Read: CHASE INTERNATIONAL STUDENT ACCOUNT: BENEFITS, REQUIREMENTS, PROCESS

Chase College Checking Service Fees

Service fees, often known as account fees, are sums of money deducted from your bank account to pay for services provided by the bank. For instance, there can be a service fee associated with opening an account, using an ATM, or transferring money.

In addition, some banks impose recurring service charges, often known as maintenance costs, which may be exempted under specific circumstances.

While you are a student, Chase College Checking has no monthly fees for up to five years. However, after you graduate, your account will change to Chase Total Checking, which has a $6 maintenance fee each month. However, if the enumerated prerequisites are satisfied each month, this price may be waived:

• At least one direct deposit is made each month.

• You have a minimum daily balance of $5,000.

While there aren’t any monthly service charges while you’re a student, you can be hit with them when using an ATM that isn’t operated by Chase or when purchasing money orders or cashier’s checks. Unless you set up overdraft protection with a connected Chase Savings account, you will additionally be charged a $34 Insufficient Funds Fee each time you overdraw your account.

Also Read: WHICH INTERNATIONAL BANK ACCOUNT SHOULD STUDENTS CONSIDER IN 2023?

Minimum Balances for CHASE COLLEGE CHECKING ACCOUNT

Some banks mandate that you retain a certain amount in your checking account at all times to keep the account open and prevent further costs. A bank may impose a minimum balance for a variety of reasons. 

For instance, establishing minimum account balances guarantees the bank has a particular amount of cash on hand, enabling it to fund withdrawals, make loans, and comply with certain financial requirements. To increase its profit margin, the bank may invest some of this money. Banks might make money from the fees levied when required balances are not kept. 

The good news is that there is no minimum balance restriction for Chase College Checking accounts. They are therefore ideal for students who might have a tight budget while attending school.  

ATM Fees

While using Chase ATMs is free, using ATMs abroad or in other countries that are not part of the Chase network will cost you money. If you use your card to withdraw money from a bank while travelling, make a purchase at a store while there, or shop online with a foreign merchant, you’ll also have to pay a fee for using it. The price for the adjustment of the foreign currency rate is 3%. I’ll elaborate later.

Also Read: Best Saving Account for Students in India: A Comprehensive List

Account Signup Bonuses

Those who open a Chase College Checking account for the first time could get a $100 welcome prize. You don’t have to pay anything back for that free money. But there are some restrictions. 

You must finish 10 qualifying activities within 60 days of your account opening to be eligible for the incentive. The following transactions are eligible:

• Using a Chase debit card
• Paying bills online
• Making a cheque payment
• Depositing with Chase QuickDeposit
• Use of the Zelle app for money transfers or sending
• Using ACH credits to pay

Also Read: Best Ways to Use Credit Cards for College Students

FAQs

Hope this blog gave you all the necessary information regarding Chase College Checking Account for International students. For more information on student bank accounts, international money transfers or study abroad loans, contact Fly Finance.