The Chase College Checking Account is a popular option for international students in the USA. It offers flexible banking specially designed for student needs. The account is mainly available for students of 17 and 24 years old and this account has no monthly service fee while students are enrolled in college. With easy access to thousands of ATMs and branches, online and mobile banking, and secure money transfer options, it simplifies managing finances abroad. Students can use this account for easy payments, tracking expenses, and receiving funds from home.
Types of Chase College Checking Account
Chase Bank offers college-friendly checking options suitable for students’ needs. The Chase College Checking Account is designed for students aged 17-24, with a USD 6 monthly fee that’s waived for up to five years while in school, or if students meet balance or deposit requirements. Younger students, aged 13-17, can opt for the Chase High School Checking Account, which requires a parent co-owner and has no monthly fee if linked to a qualifying Chase account. Students may also consider the Chase Total Checking Account, which offers more services with a USD 12 monthly fee that can be waived by meeting certain balance or deposit conditions. Each account provides online tools, fraud monitoring, and convenient ATM access.
Chase High School Checking Account
The Chase High School Checking Account is designed for students aged 13-17, helping them learn financial management with a parent or guardian as a co-owner. This account has no monthly service fee if it’s linked to a qualifying Chase checking account held by the parent. It offers access to mobile and online banking, budgeting tools, and Chase’s extensive ATM network, making it easy for young students to manage their finances responsibly and gain early experience with banking. In some cases, there is a USD 6 monthly fee, but you can avoid it for up to 5 years while you’re in college. You need to hold a minimum of USD 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
The Chase Total Checking Account is a versatile option for students and adults alike, offering access to a wide range of banking services. While it comes with a USD 12 monthly fee, the fee can be waived if certain requirements are met, such as receiving a direct deposit of USD 500 or maintaining a minimum balance. This account provides convenient access to Chase’s extensive ATM network, mobile banking, and fraud protection services, making it a comprehensive solution for everyday banking needs.
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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.
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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.
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Minimum Balance 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.
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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
The Chase College Checking Account is a checking account designed for students aged 17-24, offering various features like low fees and easy access to funds.
Yes, international students can open a Chase College Checking Account if they meet the age requirements and provide the necessary documentation, such as a passport and student visa.
International students will be required to submit a valid passport, and U.S. student visa (F-1, J-1, etc.), a proof of address (such as a utility bill or lease agreement), A U.S. phone number or email address and an I-20 or DS-2019 form (for F-1 or J-1 visa holders).
Yes, there is a USD 6 monthly fee. However, this fee can be waived if you have direct deposits totalling at least USD 500 per month, or if you are a student enrolled at a U.S. college or university.
Yes, you can use your Chase College Checking Account internationally. However, you may be charged foreign transaction fees when making purchases abroad or withdrawing cash from ATMs.
To avoid the USD 6 monthly fee, you must be enrolled in college and between the ages of 17-24 and set up direct deposits of at least USD 500 per month.
Yes, Chase allows international wire transfers, but fees may apply. You can also use services like Zelle (if the recipient bank is supported) or PayPal for faster transfers.
You can deposit money via direct deposit from your employer or family, cash deposits at Chase ATMs or branches or transfers from other U.S. banks or external accounts
Overdraft protection is available, but it is not included by default. You can link a savings account or set up automatic transfers to cover overdrafts.
Yes, international students can open the account without an SSN, but they will need to provide other forms of identification, such as a passport, I-20 or DS-2019 form, and proof of address.
You can access Chase College checking account online through Chase’s website or mobile app. You can also access the amount at any Chase ATM or branch or via telephone banking
While you can withdraw up to USD 3,000 per day from ATMs, there may be daily limits on purchases or point-of-sale transactions, depending on your account and card type.
Yes, when you open a Chase College Checking Account, you will receive a debit card, which can be used for purchases and ATM withdrawals.
Yes, once you are no longer a student or turn 24, you can convert your Chase College Checking Account to a standard Chase Total Checking Account without closing it.
To know more about education loans, the best bank accounts for students, forex and banking experience for global students or international money transfers, reach out to our experts at 1800572126 to help ease your study abroad experience.
