Best Banks in New Hampshire for Students in 2025

Best Banks in New Hampshire for Students in 2025

Choosing the right bank is essential for students in New Hampshire, especially when considering the various account types that cater to their unique financial needs. This article provides a comparative review of some of the best banks for students in New Hampshire in 2025, outlining eligibility requirements, the account opening process, typical fees, and alternatives.

Quick Summary

In New Hampshire, several banks offer student-friendly accounts that often come with low fees and specific features designed for young adults. Key players include:

- TD Bank: Known for its accessibility and no monthly maintenance fees for students.
- Bank of New Hampshire: Offers a Student Checking Account with minimal fees and online banking.
- Santander Bank: Provides a Student Checking Account with no monthly fees and ATM fee reimbursements.
- Chime: A digital bank that offers a no-fee spending account with budgeting tools.

Each bank has its pros and cons, which will be discussed in detail below.

Eligibility & Requirements

TD Bank- Eligibility: Students aged 16-24.- Requirements: Valid student ID or proof of enrollment.

Bank of New Hampshire- Eligibility: Students enrolled in college or university.- Requirements: Proof of student status may be required.

Santander Bank- Eligibility: Students aged 16-24.- Requirements: Proof of enrollment and a valid ID.

Chime- Eligibility: Any student can sign up.- Requirements: Must have a Social Security number and a valid email address.

Step-by-Step Opening Process

TD Bank1. Visit Branch or Website: Go to a local branch or visit the TD Bank website.2. Provide Documentation: Present your student ID and identification.3. Complete Application: Fill out the application form, either online or in-person.4. Initial Deposit: Some accounts may require a small initial deposit.

Bank of New Hampshire1. Online or In-Person Application: Access the application through their website or visit a branch.2. Submit Student Verification: Provide proof of enrollment.3. Fill Out Required Forms: Complete all necessary forms and provide identification.4. Fund Your Account: Make an initial deposit if required.

Santander Bank1. Start Online or In-Branch: Begin the application either online or at a branch.2. Verify Student Status: Show proof of enrollment and ID.3. Complete the Application: Fill out the necessary forms.4. Initial Funding: Deposit funds as needed.

Chime1. Download the App: Install the Chime app on your smartphone.2. Sign Up: Fill out the online application.3. Verify Identity: Provide your Social Security number and personal details.4. No Initial Deposit Required: You can fund your account later.

Typical Fees & Timelines

TD Bank- Monthly Fee: $0 for students.- ATM Fees: Free at TD ATMs; $3 out-of-network.- Overdraft Fees: $35 per item.

Bank of New Hampshire- Monthly Fee: Generally $0 for students.- ATM Fees: Free at in-network ATMs; varies for out-of-network.- Overdraft Fees: $30-$35 per item.

Santander Bank- Monthly Fee: $0 for students.- ATM Fees: Free at Santander ATMs; $3 for out-of-network ATMs.- Overdraft Fees: $35 per item.

Chime- Monthly Fee: $0.- ATM Fees: Free at over 24,000 ATMs; $2.50 for out-of-network.- Overdraft Fees: No overdraft fees; offers SpotMe feature for eligible accounts.

It is advisable to verify the exact fees and terms with the respective banks, as they may change over time.

Alternatives & Digital Banks

In addition to traditional banks, students may consider digital banks like Chime and Ally. These banks typically offer lower fees and more user-friendly mobile banking features.

- Chime: Offers no-fee accounts with budgeting tools and early direct deposit features.
- Ally Bank: Known for competitive interest rates on savings accounts and no monthly maintenance fees.

Both options provide flexibility and convenience, particularly for tech-savvy students.

FAQs

1. What is a student checking account?A student checking account is designed for individuals aged 16-24, often featuring lower fees and special perks tailored to students.

2. Can I open a student account if I’m not enrolled in college?Most banks require proof of student status, but some digital banks may not have strict enrollment requirements.

3. Are there ATM fees with student accounts?Most student accounts offer free ATM usage at their own network, but out-of-network ATM fees may apply.

4. Do I need to maintain a minimum balance?Many student accounts do not require a minimum balance, but it is best to verify with the bank.

5. Can I use my student account after graduation?Once you graduate, you may need to transition to a standard checking account, which could involve different fees or requirements.

6. What if I have a bad credit history?Most student checking accounts do not require a credit check, making them accessible for students regardless of credit history.

7. How do I close my student account?To close your account, contact your bank's customer service or visit a local branch, ensuring all transactions are settled.

8. What happens if I overdraft my account?Overdrafting your account may incur fees, but some banks offer overdraft protection or features that help prevent overdrafts.

Conclusion

Selecting the right bank is crucial for students in New Hampshire. With various options available, including traditional and digital banks, students can find accounts that meet their needs while minimizing fees. Always verify current terms and fees directly with the bank before opening an account.

Disclaimer: For informational purposes only; not financial/tax/legal advice.

About the Author

Marks Toms – Editor-in-Chief
Marks oversees editorial policy, compliance, and fact-checking at bankaccountsopen. Read more articles