Home » MONEY FORUMS » Savings » If I have two years left in college, should I look into opening a local bank account if my bank at home doesn’t have branches here [and gets charged ATM fees every time I withdraw at my school]? I’m thinking that a credit union might be the best option for me, but how would I begin to compare the benefits and drawbacks of local banks/CUs and figure out the logistics of having two separate accounts and transferring things when I’m at home?
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If I have two years left in college, should I look into opening a local bank account if my bank at home doesn’t have branches here [and gets charged ATM fees every time I withdraw at my school]? I’m thinking that a credit union might be the best option for me, but how would I begin to compare the benefits and drawbacks of local banks/CUs and figure out the logistics of having two separate accounts and transferring things when I’m at home?
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James, you have a couple of choices. You can open an account with a local credit union and use it simply for your cash needs, and keep your home account using their online payment system to pay for anything else. This would eliminate your ATM fees. The other thing you can do is look into an online-only bank, most of which reimburse you for the ATM fees.
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