<p>My daughter is starting Rice in August and will need to open a new bank account to handle basic financial needs while in Houston. I understand that Chase is the only bank on campus. Is that true? Are there any other banks that are convenient to use? I only ask because Chase is not a local bank for us, so it is less convenient when she is back home in the Philadelphia region. Any advice on this topic from current students/alums/local residents would be gratefully received!</p>
<p>Yes, Chase is easily accessible on the Rice campus and areas. Keep in mind that Chase has an app that allows you to deposit money into your daughters account, through your (smart) phone. </p>
<p>There is also a special (supposedly) account for students.</p>
<p>My S has a bank account at home and a debit card that he can use anywhere… keep that in mind. He also has a Chase account for Rice, and again, a debit card he can use anywhere. We only once needed to deposit funds into his Chase account from home (which we did in person). </p>
<p>With a debit card and an app… Chase is easy to use for banking.</p>
<p>Do kids really need a local bank account at any college when living on campus? The only thing I can think of that might be an issue is ATM fees, depending on the fee waiver (if any) available at your current bank.</p>
<p>Another issue could be depositing checks, but I see that as an issue when living off campus and splitting up housing expenses with roommates. I know that Chase has an app for sending money to other people, so in that case a Chase account would be helpful.</p>
<p>If the student is working he/she is mostly likely paid by automatic deposit rather than a paper check.</p>
<p>Hmmm…this issue has probably been addressed somewhere on these boards, but a quick search didn’t turn up anything.</p>
<p>D went all four years at Rice without a local account. Used a credit card (paid in full each month and she built credit that way), was paid by direct deposit (work-study & summer earnings) to her online bank. She used ING which became Capital One 360 in her last year. It allows photo deposits of checks, free ATM withdrawals but she used VERY little cash. We also have the same online bank so instant transfers can be made account to account (literally seconds). I don’t think you really need to worry about a Rice-based bank.</p>