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Banking





Rather than opening an account at the first bank you see, do a bit of shopping around. It is possible to find a bank in Cambridge with no-fee checking accounts, allowing you to save $5-15 per month on the service charges many banks now charge. There are a few banks that waive all fees with a $500 or $1000 minimum balance, and at least one that has no minimum balance requirements.

Cambridgeport Bank, a small bank with branches in Cambridge and a few other cities in the area, offers free checking.

Larger banks – such as Bank of America, Citizens Bank, Harvard Credit Union or Cambridge Trust Company – offer several checking options for students. A detailed listing of the many area banks is available in The Unofficial Guide to Life at Harvard including detailed information about various accounts. Visit them; if you think you can do better, you might consider Internet banks as a final option.


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Updated February 27, 2007.