Two types of accounts can be appealing for young adults. The first type is one that is designed for college students. The second is an account made for adults, not currently enrolled in school.
Students enrolled in school can open a checking account with most banks for free.
- No minimum balance requirement
- No monthly service fee
- Free checks
- Mobile banking
The only type of fees to watch out for are charges for using an out-of-network ATM. However, there are certain banks that offer this for free, such as Citibank.
Checking accounts that allow easy waiver options and mobile banking can be perfect for young adults not enrolled in school. Accounts like the Way2Save Checking from Wells Fargo has easy monthly waivers if your debit card is used at least 10 times a month, have $750 or more in direct deposits a month, or maintain no less than a $2,000 balance.
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