<p>i just received info regarding the two different credit/debit cards, the scfu and pnc bank. what are your opinions on these? each has a description but i'm not very familiar with these and the descriptions don't directly compare with each other side to side.</p>
<p>also is the penn student advantage card as good as it sounds? only $45 for 4 years, for savings of "up to" 40% off at AMC and 15% off amtrak, etc.</p>
<p>You'll want a checking/debit account with one of the banks near campus. PNC, Citizens, Wachovia, or WaMu are the most popular (PNC has the most ATMs). Stay clear away from SCFU (even though there are probably several employees of it on here) as they're basically one huge clusterfsck. Credit cards? You're on your own with that. You don't need one freshman year, but that's something you should discuss with your parents.</p>
<p>The SAC? Only useful if you see yourself riding amtrak regularly (are you from NYC or the DC area?). Otherwise probably a wash.</p>
<p>WaMu is nearby? great. so i don't have to switch my account to another bank.</p>
<p>PNC's pretty convenient, really. You can get your PennCard linked, too. Those ATM's are everywhere.</p>
<p>PNC is the most convenient, by far. There are WaMu's in Center City; not exactly close to campus but close enough for some people I know. Wawa (not related) has ATM's that don't charge a fee, though.</p>
<p>How convenient is Wachovia? When I visited Philly a year ago (not to Penn) I saw a few giant Wachovia banks downtown. Anything like that near Penn's campus? Do they have ATMs near campus too or does PNC have a monopoly over that?</p>
<p>Any idea on Bank of America locations or ATMs?</p>
<p>you know, there is this thing called the internet... apparently companies have these things called web sites on it.</p>
<p>PNC, citizens and commerce are the only ones with an actual presence on campus per se. The others I've listed are accessible within the center city range. I meant this more as a general tip - if you don't have one of the banks previously discussed (BoA is also in center city) you may be completely out of luck, in which case I'd suggest PNC. Personally, I had US Bank back home. While it does have locations all over the country and was the most convenient in Cincinnati, it does not exist in Philly.</p>
<p>Your best bet is to go PNC -- a lot of people who don't kinda end up regretting it.</p>
<p>I use Wachovia and I'm fine with it. For ATM usage, I just use Wawa, which doesn't have surcharges. </p>
<p>They were supposed to be putting in a 5,000 square foot Wachovia in the new apartments at 34th anc Chestnut, but I don't know how that is coming along.</p>
<p>BankofAmerica is NOT close- Center City. It does not have a big presence in the Phila area, surprisingly. </p>
<p>The Bank of Wawa is the way to go (free ATMs, as was mentioned above). S used PNC, but be careful not to overdraw- it is very expensive if you do.</p>
<p>The problem I have with PNC is that there are no locations anywhere near my house. And by anywhere near, I mean there are no locations within an hour of driving. And I live in NYC, so over an hour is never good for me.</p>
<p>MomofWildChild, what do you mean by "overdraw?" Is there a minimum balance that must always be kept on the account? and if you draw more than that, it costs extra money? Or do we have to pay a fee every time we draw money?(and the more we draw, the higher the fee?)</p>
<p>No- just if you go over there is a whopping charge for EACH transaction that goes over until you get the money in. Not unusual, but something students get nailed by frequently.</p>
<p>Overdrafting is really something you should learn to not do. It's called "don't spend money that you don't have" and it's fairly easy. If it's the kind of thing that's a problem for a person, get a credit card.</p>
<p>MomofWildChild, 20th st. in CC <em>is</em> close to campus. If someone wants a fast free ATM, go to Wawa. If you need to see a teller (and I don't see why anyone does anymore), there are branches in CC. I find it kind of sad that so many Penn students have never walked into CC, even to Rittenhouse square.</p>
<p>if we overdraw from an ATM, does it notify us somehow (ex. on the receipt?) or are we just clueless?</p>
<p>No, most banks won't. They'll continue to let you withdraw and accumulate fees. Your receipt may show a negative balance, or it may not, depending on whether previous transactions have cleared or not.</p>
<p>As a general suggestion: if college is going to be the first time you're using a debit card/ credit card/ checking account, you may want to get one now (over the summer) to get used to the idea of keeping a balance, tracking purchases, and being financially responsible.</p>
<p>You can set up email or text message alerts (which is a good idea) to let you know when you reach a certain balance (low) or overdraw. The fees for overdrawing are really high, and keep on coming until you get the money in. The first time you do it they will usually waive a portion of the fees if you go in and beg, but after that you are out of luck.</p>
<p>It's amazing how many people at Penn suck with money, which is funny considering that there's Wharton and everything. Be sure to keep a close eye on your finances and to be able to gauge where things are headed given your spending trends and income. Try not to get dangerously low to the point of overdraw, because the fees are just not worth it!</p>