Best Bank for Incoming Freshman?

Trying to set up a bank account for an incoming freshman and wanted to make it as convenient as possible. If I understand correctly, there is an ATM in the student center for Capital One and there is/was a branch there for it as well? Is that still open - I think I saw someplace it closed last summer so there is no real branch on campus.

Is there a better alternative for a simple low cost student account that offers a branch and ATMs on or near campus?

If you are just looking for a source of cash for trips to DC or dining off campus, then a Capital One accounr should be fine. There are several ATMs on campus. My D has accounts with M&T Bank and used her debit and credit cards on and around campus

UMD is looking for another bank to take over the Capital One space, but they have not yet finalized anything.

https://dbknews.com/2018/07/31/capital-one-atm-umd-map-stamp-bank-branch-closing/

My daughter had an account with Bank of America before she went to UMD and they have a branch with ATM just south of campus which she uses (mostly the ATM).

Do NOT use Bank of America upon pain of death. They promised my son would not get charged if his balance dipped below a certain point ($100? $500? I don’t recall) because he was a student. They didn’t keep to their word and refused to return the (stolen) fees because they said he should have said something sooner or some other rubbish.

FYI, a popular option for payment these days is Venmo.

Hello! Current UMD Senior here!
I personally have an M&T bank card. Theres only one ATM off campus but its by a shopping strip a stones throw from campus so it isn’t too bad. Alternatively, there are Capital One ATMs still around campus despite their office leaving the Stamp Student Union. The last option I can think of off-hand is Secu. Theres a branch under one of the apartment buildings and there are Secu ATMs across campus if you know where to look. That’s really all I know from my three years here so far. I know that Well Fargo cards are pretty common amongst my friends but that’s about it.

If I was to suggest a card I would pick Secu but please please please do your research as to what card works best for you.

Also Venmo is crucial!!! Please set that up for you child they will use it multiple times a month.

  1. Why Venmo over PayPal or ApplePay?
  2. Does anyone have an opinion on PNC? That's what my son currently has.

There does not seem to be a PNC branch in the immediate vicinity of UMD, but if your son has a debit card and credit card, he can get cash from the on-campus ATMs. There will be fees (not sure how much).

Venmo is used bank account to bank account transfers so they can borrow money from friends and repay immediately.

Apple Pay is credit card so you can use it in most stores.

Each has different use and both valuable.

Apple Pay Cash is an expanded service. If I had your iphone number I could text you money straight from Messages. Other than being iOS only - it doesn’t get more convenient than that. Apple Pay Cash has its own balances, but uses your bank also.

@Meliora Scott - Simply put I don’t know the intricacies of Apple Pay Cash or PayPal. This is mostly because they really are not used between college students. PayPal is definitely useful for paying for programs offered by organizations but pretty much all the college students I know pay friends back for things in cash or via Venmo. It is used so commonly (at least at UMDCP) that it is a verb. I would suggest not trying to reinvent the wheel by sticking with Apple Pay Cash (if you already use it). Instead hop on the bandwagon creating a Venmo account unless you have security concerns.