<p>Hello Carls:
My upcoming freshman daughter needs to open a bank account for her new job at Carleton. Do you have any recommendations for banks in Northfield, with particular attention to ATM charges, service charges and convenience? Thanks.</p>
<p>It’s not really necessary to have a bank account in Northfield. I kept my Bank of America checking account from high school. Carleton on-campus jobs pay by direct deposit, so your daughter won’t ever need to visit a local bank.</p>
<p>At other colleges it might be different, but because of the way Carleton money works–we use Dining Dollars and Schillers, and almost every on-campus event is free–there is very little need for cash. I use my check card at Target and Cub Foods (the major grocery store), and both places offer cash back up to $40. I get more than enough cash with no charges at all.</p>
<p>mflevity is right, there’s no need for a local bank account to be paid as Carleton deposits straight into your account. Most other services can usually be dealt with online too.</p>
<p>However, Northfield does have a big Wells Fargo if you wish to open up an account that will allow your daughter to visit a branch every once in awhile.</p>
<p>I use First bank of Northfield. It isn’t really that necessary, but I wanted to avoid the service charges if I ever had to withdraw from the ATM (I have People’s Bank at home), so I opened a First Bank account specifically for work-study money. It’s easy to make sure the money is deposited in whatever bank account you choose using the Hub, which is the Carleton student website.</p>
<p>For cash withdrawals I usually go to Econofoods and get cash back (up to $50 I think). I almost always have something I need from there, and it’s only about a 10 minute walk from campus. If you don’t care about the ATM fee, there is a Wells Fargo, and a First National Bank of Northfield ATM in the student center (Sayles)</p>
<p>The bookstore also cashes personal checks. My son kept his home account and got cash that way.</p>
<p>Another alternative used by my son who will be a Carleton sophomore: a Charles Schwab Bank account. No minimum balance. ATM fees are reimbursed for a withdrawal from any bank. Schwab has no branches, but they now accept deposits by cell phone.</p>
<p>If you have a Wells Fargo bank in your hometown, your daughter can open an account there and use the branch in Northfield. They also have an ATM on campus. There is no charge for withdrawals. They have a special account for college students that has no service charges as long as you don’t overdraw it.</p>