<p>I recently signed up for a checkings/savings account at Bank of America, but many people are telling me that I made a grand mistake. What kind of accounts do you guys have/prefer and what are the downsides to those accounts?</p>
<p>Whats wrong with checking and savings account? Many people suggested me of opening the same account.</p>
<p>Well, they said that compared to other institutions, Bank of America strips the interest and has lots of hidden fees associated with withdrawing/depositing from the savings and checkings account.</p>
<p>That is somewhat true, I’d go with Chase/WAMU free checking.</p>
<p>yeah I have US Bank They have a student account that offers free atm use from any bank 
I dont have a saving I dont feel its necessary if i have spare cash of 500 up I ll just buy into a Bond or CD</p>
<p>I was going to set up an account so that I could use direct deposit, and use financial aid surplus through a credit card</p>
<p>mostly for textbook purchases though</p>
<p>“I dont feel its necessary if i have spare cash of 500 up I ll just buy into a Bond or CD”</p>
<p>What kind of bond or CD are you currently looking into?</p>
<p>well i dont hav the money right now but if I did I ll go for a fed bond and my bank offers good rates for cds 3% for a year</p>
<p>i dont have the kind of money to worry about high interest rates and big banks vs small banks and credit unions… i had to go with something simple. BOA</p>
<p>When opening a new checking/savings with boa, make sure you ask 1000 questions about making sure everything is FREE. As with many banks, unless they set your account up to have everything free, then some charges will pop up here and there. I left my small local bank and got a boa before coming to rside, my account has no fees what so ever, even moving money around from savings-checking at no charge. There is a boa ATM on campus which you can put your checks into directly and even get a small print out of your check with your transaction receipt! </p>
<p>Also, dont go in asking for a student credit card. I told them i just wanted to get a credit card as someone who does not have any credit history, so the choices were a secure credit card or a semisecured credit card. I luckily qualified for the semisecured and a year later my credit card graduated to a full pledged credit card. I paid off all my payments in full and on time. </p>
<p>ps, the free tshirts are not worth the student credit cards >.<!</p>
<p>I have a student credit card. I call it my candy/gum/pen card I am not using it for anything else above 5 dollars</p>
<p>btw I thought a small back was going to be good F that they charge for everything . That will I like US Bank their like the WaMu pre Chase</p>
<p>Well… they have BOA, Chase, and some other ATM on campus.</p>
<p>I personally have Wamu/Chase everything. lol. Checking, saving, and I’m waiting to get approved for credit.</p>