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Proximity and convenience
Students should look at the location and ease of access of a bank when choosing a student checking account, Montanaro says. This includes selecting an institution that has ATM locations on and around campus so students can avoid out-of-network ATMs and their high usage fees, he says.
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In many cases, convenience for students can mean choosing the same bank as their parents. That would make it easier to receive deposits from Mom and Dad, Weade says.
That's exactly what he did in school. "My parents took me right into our bank branch to open an account," he says.