Future installments will deal with other necessities of life at MIT, including long distance telephone services, dining options, and purchasing textbooks. The greater Boston area is home to a number of banking options. Although students are likely to be exposed first to Fleet Bank, which has an exclusive right to open new accounts in the Student Center, several other financial establishments exist nearby, including Cambridge Trust, Citizens Bank, Sovereign Bank New England, and Wainwright Bank. Cambridge Trust Cambridge Trust Company is smaller than Fleet, with offices in University Park and Kendall Square. They offer an ATM Convenience account with no minimum balance or monthly fee.
Students can apply for overdraft protection.
Customers can write up to eight checks per monthly cycle with no charge. Unlimited ATM, point of sale, and debit transactions are allowed. Customers over eighteen can obtain MasterCard credit cards. Cambridge Trust is also part of the SUM network, a consortium of smaller banks throughout lower New England. Customers of banks belonging to the SUM network incur no charges while using SUM ATMs.