You have goals. We finance them. Once you have found the right bank, selecting the best account for your needs is something you will have to figure out on your own. Each account offers its own plus and minuses. Most students have a Savings and Checking account and keep most of the money in the interest account to earn money.
Most banks charge a nominal fee for dipping below the minimum balance.
Remember to shop around as some banks offer very lame interest rates. Be sure and ask for student discounts or rates as most banks want the students business and will offer great deals. Checking Account A checking account is a must as you will have some rather large bills at University. Rather than running down to the bank, attempting to withdraw all the money and then pay in cash is outdated and unrealistic. If your balance dips below the minimum, there is generally a small fee.