There are many banks to choose from in the U.S. and several branches or Automated Teller Machine's (ATM's) located on campus. Finding a bank that meets your needs and is convenient for you is a big decision, so make sure you do your research before selecting a bank.
When selecting a bank, consider the following:
- Does the bank charge a monthly fee?
- Are there any service charges or overdraft fees?
- Are any fees or service charges waived for college students?
- Are there ATMs available nearby?
- Is there a minimum balance required to open an account?
- Is there a minimum monthly balance required to maintain the account?
- How can money be transferred?
The two main types of accounts you can open at a bank are checking accounts and savings accounts. Checking accounts are typically used to deposit and withdraw money frequently and often come with a checkbook and a debit card to access funds, whereas savings accounts collect money over a longer period of time and may have limits to withdrawal.
When opening a bank account, you may be asked to show any of the following:
- Immigration documents
- Multiple forms of identification
- Money for an initial deposit in the account
- Phone number and proof of U.S. address (utility bill, lease agreement, etc.)
- Materials showing you’re a university student
You may also be asked to provide a Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN). These numbers should not be required to open a bank account and are only available for students with employment or cash scholarships.
Banking Institutions
UMass Five College Federal Credit Union
Location: UMass Campus Center
UMassFive is the only financial institution with an office in the Campus Center. Students may access their money easily with a free checking account that has no minimum balance requirements, and with debit cards that can be printed right in the branch. Debit cards can be used on campus without a fee. Students may also bank remotely using a mobile app, online banking, and full-service local contact center representatives who can help by phone or email. UMassFive offers many types of loans, including loans to help you purchase things you may need on campus like a computer or bicycle, or to help you build credit history.
Citizen's Bank
Location: 456 Russell Street, Hadley, MA 01035
Student checking accounts for Students 25 and Under. Citizens Pay Early – access pay up to two days early. No monthly maintenance fees, no ATM fees, no minimum balances to keep, free Citizens exclusive checks. One Deposit Savings Account with no monthly maintenance fees for students 25 and under. Located inside the Stop and Shop, On the PVTA Bus Route, ATMs inside the Cumberland Farms.
Bank of America
Location: 1 S. Pleasant Street, Amherst, MA 01002
Bank of America provides student financial services including: checking, savings, online, mobile, wires, etc. Access to over 16,000 ATMs country wide.
Mobile Phone Carriers
AT&T - Location: 359 Russell Street, Hadley MA 01035
T-MOBILE - Location: 344 Russell Street, Hadley, MA 01035
VERIZON - Location: 360 Russel Street, Hadley, MA 01035
SIM Cards for Students
UMass students are eligible for a free sim card for a free two month trial period with code UMASS.
Campus Sims has partnered with Mint Mobile to connect international students in the U.S. Check out the plans available to international students.