Where Should You Bank?

Whether you choose to open a local bank account or continue to bank where you have in the past is an individual decision.  The information provided on this page can help you find what’s available locally so that you can compare and decide what is best for you.  For convenience, Macalester can and strongly encourages students to direct deposit their student payroll checks.  Direct deposits can only be set up with banks located in the United States.

There are also many banking options located within a three-mile radius of campus and one US Bank ATM Machine located on the lower level of the Campus Center. Most of these banks will allow you to open an account online, but in order to do so, you will need:

  • to be at least 18 years of age (or to have a joint account holder who is 18 or older) and
  • to be a legal resident of the United States.

If you choose to open an account online, make sure you have the following information on hand:

  • Social Security Number, and
  • A driver’s license, state ID or military ID for each applicant.  (NOTE: International students will have the opportunity to open a bank account as a part of the Pre-Orientation for International Students.)
Bank Name Address Phone Distance from campus Notes
Anchor Bank

1570 Concordia Ave, St Paul

(651) 747-2900 0.8 miles from campus Basic checking has no minimum balance.  Free online banking.  No fees at MoneyPass ATMs; $2 ATM charge at non-MoneyPass ATMs.  Free platinum debit card.
Associated Bank     202 Snelling Ave, St Paul (651) 646-8681 or toll free (800) 236-8866 0.6 miles from campus Student advantage checking for customers under 25. $100 minimum deposit. No fees at MoneyPass ATMs. Free debit MasterCard.
Bank Cherokee

985 Grand Avenue, St. Paul

(651) 292-9200

1.3 miles from campus $200 Minimum opening deposit; $500 minimum balance required to avoid fees. $0.50 withdrawal fee at non Bank Cherokee ATMs.  Free Visa check card.
Bank of America 2044 Ford Parkway, St. Paul (651) 528-5899 2.4 miles from campus Monthly maintenance fee is waived for qualified students under 24
 Coulee Bank

742 Grand Avenue, St. Paul

(651) 698-8100 or toll free (866) 784-9550 1.8 miles from campus $50 initial deposit. Kasasa Cash Back free checking accounts. Visa debit card available.
Sunrise Banks 2171 University Ave West, St. Paul (651) 265-5600 2.3 miles from campus $100 minimum balance to open account; $200 minimum balance or direct deposit required to avoid monthly fees.  Free MasterCard debit card.
 TCF Bank 1300 University Ave West, St. Paul (800) 823-2265 1.14 miles from campus (in Cub Foods) Free student checking; $25 minimum opening deposit.  No minimum balance. Free TCF check card.
 US Bank
1071 Grand Ave, St. Paul (651) 229-6123  1.1 miles from campus; ATM  located in the Campus Center Student checking available. No minimum balance or deposit required. Free US Bank ATM transactions; 4 free non-US Bank transactions per statement cycle. US Bank Visa Check Card.
 Wells Fargo Bank 1827 Grand Ave, St. Paul (651) 205-5480 or toll free (800) 869-3557  0.5 miles from campus. College combo account (checking and savings) available.  Monthly fees waived with direct deposit or a minimum balance.  Minimum to open checking account: $50; savings: $25. Free debit card.

If you have questions about banking, you may contact Patricia Langer, Associate VP for Finance at 651-696-6562 or