Skip to content
New Bank Account home

Personal

Students and young adults

Students and young adults usually want a low-cost account they can open online, with a debit card and a mobile app. Age rules and fees differ by provider. Confirm them on the provider's own site.

Editor's choice

Personal

Our pick when you are opening a new personal account.

Editor's choice

SoFi Checking and Savings

SoFi Bank, N.A.

Bank

Monthly fee
$0No account, service, or maintenance fee. Outgoing wires, Instant Transfers, and global remittances are charged separately.as of Oct 30, 2026 source
APY
3.30%Savings APY with eligible direct deposit, as of Oct 20, 2026. No minimum balance. New members can get a 1.10% boost for up to 6 months, up to 4.40%, if they qualify.as of Oct 30, 2026 source
Sign-up bonus
Up to $400Direct deposit bonus through Dec 31, 2027. $50 if eligible deposits total $1,000 to $4,999.99 in 25 days. $400 at $5,000 or more. $0 below $1,000. One bonus per member.as of Oct 30, 2026 source
Min. deposit
$0as of Oct 30, 2026 source
  • No monthly fee
  • 3.30% savings APY with direct deposit
  • Up to $400 direct deposit bonus
Open account for SoFi Checking and Savings, opens in a new tabRead review of SoFi Checking and Savings

What matters for you

  • Low fees
  • Mobile app
  • Easy signup

Accounts to compare

Listed alphabetically. This is not a ranking. The editor's choice above is our recommendation for opening a new account. Fees, rates, and bonuses are copied from each provider's site and dated. How we review

  • Best for Branch checking with a direct-deposit waiver

    Bank of America Advantage

    Bank of America

    Bank

    Monthly fee
    $12Advantage Plus. $0 with a qualifying direct deposit of $250 or more, a $1,500 minimum daily balance, or Preferred Rewards at Preferred Plus or higher. $100 to open. Non-interest bearing. Fee schedule effective Aug 7, 2026.as of Oct 30, 2026 source
    APY
    0%Advantage Plus is non-interest bearing.as of Oct 30, 2026 source
    Sign-up bonus
    Noneas of Oct 30, 2026 source
    Min. deposit
    $100as of Oct 30, 2026 source
    • $12 monthly fee, or $0 if you qualify
    • $100 to open
    • Non-interest bearing
    Open account for Bank of America Advantage, opens in a new tabRead review of Bank of America Advantage
  • Best for No-fee checking

    Capital One 360

    Capital One 360

    Bank

    Monthly fee
    $0No monthly fee, no minimum balance, and no overdraft fee.as of Oct 30, 2026 source
    APY
    Not listedThe checking page says the account pays interest on a tiered balance. The rate itself did not display when we checked the page.as of Oct 30, 2026 source
    Sign-up bonus
    Noneas of Oct 30, 2026 source
    Min. deposit
    $0as of Oct 30, 2026 source
    • No monthly fee
    • No minimum to open
    • Pays interest on a tiered balance
    Open account for Capital One 360, opens in a new tabRead review of Capital One 360
  • Best for No-fee checking with a savings rate

    Chime

    Chime

    Fintech

    Monthly fee
    $0No monthly service fee and no minimum balance on checking. Out-of-network ATM withdrawals are $2.50.as of Oct 30, 2026 source
    APY
    1.00%Standard savings APY as of Oct 6, 2026. Chime Plus is 3.00% and Chime Prime is 4.00%. You need $0.01 in savings to earn interest. Checking is required to open savings.as of Oct 30, 2026 source
    Sign-up bonus
    Noneas of Oct 30, 2026 source
    Min. deposit
    $0as of Oct 30, 2026 source
    • No monthly fee
    • No overdraft fee
    • Savings APY from 1.00%
    Open account for Chime, opens in a new tabRead review of Chime
  • Best for Early pay and a savings boost

    Current

    Current

    Fintech (banking by Choice Financial Group, Member FDIC, and/or Cross River Bank, Member FDIC)

    Monthly fee
    $0The June 22, 2026 deposit agreement does not list a monthly service fee. A $5 inactivity fee can apply after 12 months with no transactions.as of Oct 30, 2026 source
    APY
    4.00%Savings Pod boost on the first $2,000 in each of up to 3 pods, if you receive at least $200 in qualifying direct deposits. Otherwise 0.25%. Balance above that cap earns 0.00%.as of Oct 30, 2026 source
    Sign-up bonus
    Noneas of Oct 30, 2026 source
    Min. deposit
    $0as of Oct 30, 2026 source
    • No monthly service fee listed
    • Savings Pods up to 4.00%
    • Early direct deposit
    Open account for Current, opens in a new tabRead review of Current
  • Best for A debit account with no monthly fee

    Discover

    Discover

    Bank

    Monthly fee
    $0Cashback Debit has no monthly fees and no balance requirement, per Discover's product page.as of Oct 30, 2026 source
    APY
    Not listedDiscover's product page does not publish an APY for Cashback Debit.as of Oct 30, 2026 source
    Sign-up bonus
    Noneas of Oct 30, 2026 source
    Min. deposit
    Noneas of Oct 30, 2026 source
    • No monthly fee
    • No balance requirement
    Open account for Discover, opens in a new tabRead review of Discover

How to choose

  • Check whether the account has an age minimum and what ID the application asks for.
  • Look past the monthly fee. ATM, overdraft, and replacement-card fees matter too.
  • The monthly fee on each card is copied from the provider, with the date we checked.

Related guides