<p>My DD has a checking account at US Bank. I was informed today that they have no banks “that far south”. Ugh. So what do OOS students typically do? Keep the OOS bank? Change banks? And if you changed, why? And to which bank? Thanks in advance for your advice !</p>
<p>Great question! My daughter will be a freshman in the fall - I am wondering about banking as well.</p>
<p>We currently bank with Wells Fargo but I didn’t see many locations around campus - although there was one branch and an ATM near the strip. </p>
<p>Do any of the dorms have ATM machines? She is undecided between honors and Tutwiler.</p>
<p>DS is with a bank that has no locations on campus but it hasn’t been a problem to date. He uses his debit card for almost all purchases so very little cash is needed.</p>
<p>He does take a little extra cash at the beginning of the term and if he runs short he can use the debit card at Publix and get some extra $$. If he needed a few hundred he could use his card at another banks ATM and just pay the ATM fee. Ths has not had to happen yet.</p>
<p>DS and I set up a joint account at a local credit union back home. Most credit unions, including Alabama Credit Union, are part of the national Credit Union Service Center. Basically, you can go to almost any credit union branch in the country, and bank as if you’re at your home branch. I can deposit money at the credit union across the street (not our own–that’s across town), and DS can access that money at the Alabama Credit Union branch or ATM in the Ferg, with no fees. He can also use that ATM/debit card anywhere.</p>
<p>^^^^ same for my D.</p>
<p>There is a credit union on campus that your student can join.</p>
<p>[Branch/ATM</a> Locator / Home - Alabama Credit Union](<a href=“http://www.alabamacu.com/Branch-ATM-Locator/]Branch/ATM”>Branch/ATM Locator | Alabama Credit Union | Alabama Credit Union (ACU))</p>
<p>After looking into several options we decided to go with Wells Fargo. It has worked out for her since being at UA this fall.</p>
<p>We live in GA and Bank with DCU which now has no offices outside of the New England area. My son has gotten along just fine. The Alabama credit union has a location in the ferg that some students use, but we decided to go the route, try it using our current bank and if it becomes an issue, we will get him an account at Alabama credit.</p>
<p>So far it has not been an issue. Today most stuff is done online & with debit cards. If he gets any checks (which is really rare) he can deposit them using his Online baking and/or iphone app. </p>
<p>Unless you have a lot of need to use the actual bank, I would suggest go the route, try it with your current bank (especially if they have smart phone & online banking) and then if it is not working open an account at Alabama Credit Union in the Ferg. (btw they will have sign up and lots of info during the bama bound sessions)</p>
<p>D graduated last year and we used the credit union route. It worked well for us money showed up automatically with no holds. Also it was a saving grace when D had her wallet stolen in Nola. The credit union had a photo id copy of her drivers license that they copied for her. It took forever to get a replacement from the state of Ohio. Also it was a relief in case of an emergency…like a tornado that she had access to local money.</p>
<p>our daughter just kept her home bank and debit card. she only has a debit card, no checks.</p>
<p>there have been few instances where she has needed a check.</p>
<p>she can get cash from an atm or at a store.</p>
<p>We decided to open up an account at the Alabama Credit Union at the Ferg (I had to be on the account to as my son was under 19.) I don’t know how much he actually uses it, but it has come in handy when he has received checks from home (birthday money from grandma etc.) and we know he has access to cash easily if needed. However, he does have an account at home that is tied to his debit card which he seems to use more. The Alabama Credit Union is free so if in doubt, it wouldn’t hurt to open up an account.</p>
<p>My son preiously had some sort of no-fee youth account that his dad had set up at a bank, when he turned 18, it would have been converted to one of their standard accounts with all the associated fees, so we opted to just close that account and open one at the Alabama Credit Union. It was quick and easy to set up, it has enabled son to deposit checks (such as the refund checks he gets from the school), and I know he has easy access if there is ever a misplaced or stolen debit card.</p>
<p>As noted above, it is part of a national group of credit unions, so even here in the rural midwest there are several other nearby credit unions where we are able to conduct transactions if necessary.</p>
<p>We have kept D’s account at our local bank that is OOS. Our bank only has branches in the Dallas, Tx area. It has been easy as we can instant transfer money online into her account 24/7. She has had no issue using her debit card. I did order her one box of checks as we received a $50 discount for her apartment deposit by writing a check vs a card. And she has one book of checks with her that is locked up for just in case situations. We give her cash when we see her and so far she has not had to use an ATM. </p>
<p>Plan on keeping her account where it is for ease of transfer of funds on our end.</p>
<p>We will stay with Wells Fargo. My daughter has had a teen account with them since she was in middle school. She uses the debit card, no checks so far. But we’ve got them so will probably send a few with her for those ‘just in case’ times. </p>
<p>It’s so easy when we are with the same bank - online transfers, etc. Really, who needs cash anymore? :)</p>
<p>you might need to switch your teen account to a college account. we had to.</p>
<p>We use a combination of her “home” account at Bank of America along with an account at the Alabama Credit Union. Since we bank at BofA, I can transfer money instantly online into her account - she uses this account for her bills and routine needs. Unfortunately BofA does not have any branches within 100 miles, so we opened a small account at the credit union during Bama Bound - otherwise the ATM fees would be a killer! The credit union account is for her relatively small currency needs and as an emergency fund in case she looses her wallet with her debit card, ATM card and credit card. This way she can always walk into the branch at the Ferg and get cash until she receives her replacement cards.</p>
<p>It may be overkill, but she is 750 miles from home and the credit union account is free and only requires a $25 minimum opening balance.</p>
<p>Most credit unions, including Alabama Credit Union, are part of the national Credit Union Service Center. Basically, you can go to almost any credit union branch in the country, and bank as if you’re at your home branch. I can deposit money at the credit union across the street (not our own–that’s across town), and DS can access that money at the Alabama Credit Union branch or ATM in the Ferg, with no fees. He can also use that ATM/debit card anywhere.</p>
<p>Yes, it is a good idea to open an Alabama Credit Union acct. It’s free and there are ATMs all over. </p>
<p>One good thing is that because there is a branch on campus, if your child lose his wallet (ID, etc), he/she can easily get a new Debit card rather quickly. S/he gets a new Action card and then uses that for ID to get the new Debit card.</p>
<p>Keep in mind some off campus complexes charge an additional fee unless rent is paid by check.</p>
<p>Last year, my D kept her local TX bank account. No issues as she was able to access cash whenever she needed it. But this year she is getting paychecks and decided to set up an account at a bank with branches in both Dallas and Tuscaloosa. We chose BBVA Compass. It has come in handy because she was actually given a paper paycheck instead of direct deposit. Theoretically, she could have deposited it remotely from her phone app, but it didn’t work.</p>
<p>Yes, WFB will transition the teen account to a college account. </p>
<p>We will probably have her open an Alabama credit union account as a back up.</p>
<p>DS has a substantial bank account (several thousand) at home, and we were frankly concerned to let him simply take his debit card with him. These funds are fenced off for international study or a post-college head start.</p>
<p>We chose the Alabama Credit Union path, just in case he needs to talk to a human to solve his future problem. </p>
<p>We opened the joint Alabama CU account with a modest balance, and I drop allowance deposits in every other week or so. </p>
<p>Except for revealing an irrational love for Jimmy John’s delivery, it’s working out for us.</p>
<p>Finally, I’ll agree with others here. Make sure you set up the account properly. Young adult protections can be put in place to avoid excessive fees. Things like decline-don’t-overdraw could really help.</p>