"For banking accounts, look for free, free, free," Walbert says. "Ask for free checking with no monthly fee, free checks, free debit cards with no usage charges and a refund of non-network ATM fees."
But take note, administrators of "free" student checking accounts will charge fees and penalties for certain transactions, such as out-of-network ATM withdrawals and wiring money abroad, she says. Before opening up any free student checking account, make sure you know what extra fees may be assessed and when.