Unlock up to $75* with a new Student Checking and Student Savings account.
Open a new Student Checking and Student Savings account and earn up to $75*. All you have to do is opt into eStatements, set up direct deposit for your new Student Checking account, make 10 qualifying purchases with your new debit card, and complete 3 automatic transfers from your Student Checking account to your Student Savings account.
Bundling our Student accounts gives you the convenient access you need to manage your money:
- No monthly maintenance fees or minimum balance requirements
- Student Savings accounts earn interest with balances of $10 or more
- Free ATM transactions at BankFive ATMs, and rebates for charges incurred at non-BankFive ATMs1
- Manage your accounts and help build your credit2 through Online Banking and the BankFive mobile app
- VISA® debit card3 with cash back rewards
- Send money to anyone with Zelle®2
- Transfer money between your BankFive accounts and those at other banks2
- Access your paycheck up to 2 days early4
Student Checking and Student Savings are available for students ages 14-26. Those 18 and up can open their Student accounts online or in-branch. Those under 18 must apply with a parent or legal guardian at one of our branch locations.
*Earn up to $75 when you open a new Student Checking and Student Savings account with a $10 minimum opening deposit. To qualify, you must enroll in eStatements, set up direct deposit into Student Checking, complete ten (10) point of sale (POS) debit card purchases, and establish a savings plan with three (3) automatic transfers from Student Checking to Student Savings. $25 deposited into Student Checking after direct deposit is established, $25 deposited into Student Checking after ten (10) debit card POS purchases are completed, and $25 deposited into Student Savings after three (3) automatic transfers are completed. Qualification requirements must be completed within 90 days of account opening. The bonus (up to $75) will be paid within 30 days after qualifying transactions have been completed. Offer is available to individuals ages 14–26. Applicants under the age of 18 must have a parent or legal guardian as a joint owner if a debit card is included with the account. Offer is not available to existing Student Checking account holders. Accounts must be open and in good standing at the time the bonus is paid. Fees may apply. Upon your 27th birthday, Student Checking and Student Savings accounts will automatically convert to eAccess Checking and eAccess Savings and will be subject to the applicable terms, conditions, and fees of those accounts.
1Other banks may impose a surcharge for use of their ATMs, but BankFive will reimburse incurred ATM fees up to $10 per statement cycle for Student Checking accounts.
2 Credit building and monitoring tools, Zelle, and External Transfers are available in Online Banking and the BankFive mobile app to students 18+.
3 Students under 18 may receive a debit card only when a parent or legal guardian is a joint owner on the account.
4With Early Deposit. Not all deposits are eligible. Eligible deposits are limited to direct deposits of payroll, pension, or government benefit payments. Deposits from checks, mobile deposits, or person-to-person payment services like Zelle, Venmo, or PayPal are not eligible for Early Deposit.
The Benefits of a BankFive VISA® Debit Card
-
Earn cash back on qualifying purchases at participating retailers through our Purchase Rewards program.
-
Connect your card to VISA® Checkout and Apple Pay for quicker, more secure transactions.
-
Use your card surcharge-free at BankFive ATMs in Massachusetts and Rhode Island, and get rebates for fees incurred at non-BankFive ATMs, up to $10 per statement cycle.