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Choosing a bank is a major decision, and there is no one right choice for all students. You need to consider location, hours, services, fees, and interest rates when you shop for a bank or a credit union. Search for free checking and saving accounts for students, and make sure your bank provides a free automatic transfer from checking to saving accounts.

ATM/Debit Cards
A debit card requires the use of a personal identification number (PIN) and allows you to use your money for purchases. Always be sure you reconcile your checking/saving accounts before using your debit card. This card also allows you to withdraw your money from an automated teller machine (ATM), so make sure there are no transaction fees attached to using ATM. Check with your bank to see if they offer an overdraft protection service and if you need to opt-in to the service. Banks are required to disclose the amount of the overdraft coverage fee. Avoid going into an overdraft situation by reconciling your bank accounts before you make purchases.

The information about banking has been drafted from Penn State's Financial Literacy and Wellness Center.