<p>My D and I are trying to figure out the best/cheapest banking option to use when she attends Wellesley this fall. She doesn't need anything fancy, just access to ATMs and, perhaps, an ability to write checks. I probably will add her to my credit card. </p>
<p>B of A looks like it has a good "free" deal, but (if I understand this correctly) would require that one of us have a direct deposit to a B of A account. I don't want to change my personal banking and D won't be getting any regular $$$ that could be set up as a direct deposit. </p>
<p>I know that Wellesley offers a day when local banks come onto campus to explain their offerings, but her personal banking seems like something that would be good to set up over this summer. Anyone have ideas?</p>
<p>Nobody likes Bank of America. They have an ATM on campus that takes both deposits and withdrawals.</p>
<p>Middlesex (I think) has the other ATM. It's withdrawal only. Middlesex is also part of the SUM network, which includes Citizen's Bank, and the Credit Union from my hometown that give me INTEREST on my savings and checking accounts. SUM network banks don't have ATM fees on SUM ATMS.</p>
<p>Citizen's Bank is a NE based chain that's fairly national and can do the international stuff as well. They have a four year free agreement that doesn't depend on direct deposit. They're on the SUM network and have their branch on Central Ave. I also have a debit card and checks with Citizen's and from the local credit union.</p>
<p>I had one problem with Citizen's- they couldn't read my handwriting on the account sheet, and spelled my name wrong on my account. They had to send me a new atm card and new checks- the latter of which I was charged for. I was able to get the charge removed after calling up and complaining, but I was pretty mad, anyway. The one good thing about Citizen's (or any other bank with a branch within walking distance of campus) is that I can deposit money when I get the check. Except I'm lazy and deposit three checks at once (or 6 weeks of money), and then just wait until I get home and can deposit it at there for the whopping .5% interest. I am glad I have the Citizen's account, because they have a mini Citizen's in the Poughkeepsie Stop and Shop which is open past 5 pm (my summer job involves me sleeping from 6 am until 2 pm, so this is especially convenient).</p>
<p>There's at least two other banks on Central Ave before the corner with the train station (really close), and another near Roche Bros. (further down, but if you stay for Wintersession, Spring Break or the summer, you will be walking here for groceries).</p>
<p>You will get massive amounts of banks snail mail spam from every bank within walking distance at Wellesley, closer to the time your D is about to move in. The bankers will stake out the campus center with free goodies and lollipops on the first day of orientation, and will equip you with temp checks, making late sign ups not a big deal.</p>
<p>hey wendymouse, i don't get why you said nobody likes bank of america. isnt an atm on campus a good thing? sorry, its just that my mom wants to set up an account for me with BofA, so i just want to make sure what i'm getting into.. thanks!</p>
<p>BoA (formerly Fleet) causes problems mostly with fees that they supposedly <em>weren't</em> going to charge, and apparently (or at least when it was Fleet) were rude.</p>
<p>There's more BoA discussion on the Smith page.</p>
<p>Bank of America is marginally better than Fleet was, but I'd still recommend going with a different bank. Apparently, I can't close my BoA account unless I go to a branch ... of which there are none in my area. None. At all. One of the bankers in Wellesley said he'd let me call and close it since I talked to him in person right before I graduated, but, funnily enough, he never answered his phone. I gave up after a week. So I still have a ridiculous BoA account with $4.98. If you want to do anything official, you have to walk to the main branch by Roche Bros., and the choir never did have any good experiences banking with them. We switched to the Wellesley Coop when I graduated and handed everything over to the new business manager, and I think everything has been good since then.</p>
<p>So ... the Wellesley Coop (or is it just Wellesley Bank, now?) is great. Free checking (as far as I know), a local branch, a certain number of free ATM withdrawls from any ATM and not just the bank's, and good customer service. If you'd rather have a larger bank, Citizens also got good reviews from people I knew.</p>
<p>I actually just opened a Citizens Bank account yesterday. (There's a branch in the grocery store where I work, so it's already very convenient for me.) Apparently Citizens Bank originated in Boston, and is therefore on just about every corner in the entire area. They offer free checking and 2% interest with their savings accounts. I loved that I wouldn't be charged any fees at the ATM on campus.</p>
<p>californian, you don't need a direct deposit to get free checking from bank of america as long as your daughter signs up for the myaccess student checking account. i think that under this account the monthly fee is waived for up to 4 or 5 years. i also believe that you don't need a minimum balance. i use bank of america, and i actually think most of my friends at wellesley do as well. from my group of friends, i haven't heard of any problems with their accounts and atm activity. plus, bank of america has a lot of locations not just in massachusetts/new england, but all over the country. if you want easy, accessible banking, i say go w/ bank of america.</p>
<p>Both Ds, one a rising 3rd year at Wellesley, use BofA. They have been extremely helpful to Wellesley D on more than one occasion. I did business at Fleet (Bof A's predecessor) at one time. They were awful; I quit. My impression of BofA is very favorable.</p>
<p>Bank of America has a promotion for new student checking accounts. They give you $50.00 for opening the account and it is free for the first five years, as long as you are a student.</p>
<p>Another plus is that their campus ATM can be used for deposits as well as withdrawals while the Citizens Bank ATM can only be used for withdrawals.</p>
<p>Another benefit for us of going with Bank of America is that we were able to sign up for the CampusEdge checking account with our daughter, and since they have branches near us in California, we will be able to easily deposit cash into the account that she can withdraw in minutes.</p>
<p>Not having deposit ability on campus is only a minor drawback since campus paychecks come biweekly (and the ATM doesn't give you a lollipop). The only other time most students get checks is if they sold something to another student and agreed to accept payment in check- cash being the standard arrangement.</p>
<p>While we're on the subject, ask the bank for about $20 in quarters for laundry. That should be more than enough.</p>
<p>The Bank of America $50 promotion for opening a Campus Edge Checking Account is a "come on". It only applies if you open the account on-line, and you can only do that if you have a credit history. In other words, if you had a credit card when in high school (!) you might qualify for the promotion.</p>