With no monthly fees, and free unlimited check writing, the East West Bank Student Plus Checking Account might be a good solution for students aged 17+ looking to learn how to manage their money independently.
The best feature of this student checking account is that you can use any ATMs across the U.S. without thinking about fees. That is, if you use your East West Bank Student Plus Visa Debit card for ATM transactions from your respective checking account, the bank will reimburse you out-of-network ATM usage fees. This doesn't apply to non-sufficient-funds (NSF) fees, i.e. when your ATM withdrawals are rejected due to your not having enough money in your account.
Together with a student checking, you can open a student savings account with East West Bank, and earn interest. If linked to your student checking, you will also have ATM access. Both student checking and savings account require a $100 minimum deposit to open, which is quite high when compared with other student accounts. Nonetheless, it's not something unattainable whatsoever. However, we always recommend doing research, and evaluating your options before making a decision.
Checking account details
- Online and Mobile Banking with Bill Pay.
- Visa® Debit Card.
- Direct deposits.
- Free unlimited check writing.
- Free access to ATMs anywhere in the United States, with reimbursed out-of-network ATM surcharges (terms apply).
- 24-Hour automated telephone banking (800.809.6761).
- Overdraft protection, if you link your checking to your other East West Bank checking or savings account.
Checking account fees
Minimum Deposit to Open$100
Out-of-Network ATM Transaction Fee$0
Out-of-Network ATM Withdrawal Fee$0
Non-Sufficient Funds Feen/a
Foreign Transaction Feen/a
East West Bank Student Plus Checking Account FAQ
You must be at least 17 years old, and enrolledm either part-time or full-time, in an accredited university or vocational school.
No, Student Plus Checking isn't an interest-bearing checking account. If you'd like to grow your balance through savings, you might want to check out East West Bank's Student Plus Savings. You'll basically get the same things, but with the possibility to earn money on interests.!
If you use your East West Bank Student Plus Visa debit card for out-of-network ATM transactions, East West Bank will reimburse you any third-party fees you may be charged. This waiver does not apply to any East West Bank ATM NSF fees that are the result of your account being overdrawn by an ATM transaction. Please refer to the Annual Percentage Yield and Account Terms disclosure for details.
No, the waiver doesn't apply to NSF fees, which are fees incurred when you don't have enough money in your account to cover a transaction. East West Bank will only refund out-of-network ATM usage-related fees.
Yes, just like any other East West Bank checking account, the East West Bank Student Plus Checking Account is FDIC-insured to up to $250,000.
You can use Popmoney® to send, request, and set up payments.
To send money to someone, all you need is the person's mobile number, email address and/or account number. That person doesn't even have to have an account with East West Bank.
If you want to request money from someone, you can also do it regardless of whether the person you're requesting money from banks with EWB or some other bank.
Finally, with Popmoney®, you can set up one-time or recurring payments, with next business day or 3 business days options, meaning when the transfer will be executed. This is quite convenient as you don't need to set up additional remainders to keep track of all transactions.
Do not Popmoney® is not free, so make sure to familiarize yourself with the fees.
The East West Bank Visa is a debit card, meaning it has no impact on your credit usage/score. It can, however, help you become more financially aware, literate, and experience, so that you are well prepared in terms of budgeting and cost control once you've decided to get a credit card.
The East West Bank Visa debit card is protected using EMV technology, through a microchip that adds an extra layer of security, making information theft more difficult.
Yet, one is never 100% safe today, so make sure never to disclose your Visa card information to anyone, create strong passwords, and keep your account information strictly confidential.
You should contact East West Bank immediately at 877.357.5087.
There are some online resources and tips available at East West Bank's official website that might be helpful.
|Bank||Monthly Service Charge||Minimum Deposit to Open||APY|
|East West Bank Value Checking Account||$5||$100||0.00%|
|East West Bank Premier Checking Account||$10 (can be waived / reduced)||$100||n/a|
|East West Premier Maximizer Money Market Checking Account||$12 (can be waived)||$10,000||n/a|