<p>Can we briefly discuss banking options at MIT.
I'll be opening up my own account soon and want to make sure there is a branch in the Cambridge area.</p>
<p>You'll receive something from the MIT Federal Credit Union, which is where my daughter opened an account, but I believe that Bank of America is also on the campus.</p>
<p>There are several Bank of America ATMs on and around campus, as well as a BoA branch in the Student Center and one in Kendall Square. BoA is probably the most convenient banking option, although caveat customer with regard to big banks and all that. </p>
<p>As CalAlum says, the MIT</a> FCU is a great option, with several ATMs on campus and almost certainly better benefits and options than BoA.</p>
<p>I'd say Bank of America is the best option, but that's because I spend a lot of time in Boston and there are no MITFCU's there, and I also used BoA for a while in high school.</p>
<p>I've been MITFCU for 3 years now and it's never let me down. You get 8 free withdrawals from any ATM / month which is more than enough for trips into boston et al</p>
<p>What about Washington Mutual?</p>
<p>I have no idea where one is. I think BoA or MITFCU are much more convenient because there are ATMs on campus.</p>
<p>No Washington Mutuals around here, I'd switch to BoA</p>
<p>I am going there in the fall but I am putting CDs at WaMu ( my home is on the west coast, so lots of these around here) since they have a lot higher interest rates, and keeping a BoA account for like checkings/ATM and stuff. You can always transfer money online. There are BoA's everywhere, so you should have one no matter what. Like when you travel or something.</p>
<p>Aw man, the closest WaMu to MIT is in New York. What's up with that? They're all over the place in California. Does BoA give free checking like WaMu does?</p>
<p>^^ If you use Google maps, you'll see there are several Washington Mututal offices in Boston, but none within close shot of MIT.</p>
<p>Yeah, BoA has free student checking. I've had BoA since I got to Boston, and I don't have any complaints, except that if you're going to have a savings account, open it somewhere else -- BoA offers like 0.5% interest or something completely inconsequential like that.</p>
<p>What about Wachovia?</p>
<p>I use MITFCU, which has worked pretty well for me (though the savings account interest rate is very low). It is in a couple of alliances with a bunch of other small banks, so there are many ATMs around that you can use with no surcharge.</p>