5.49 Financial - Banking

Whether you choose to open a local bank account or continue to bank where you have in the past is an individual decision, just as what you are seeking in a bank is a personal choice. Macalester can do direct deposit for student payroll to banks in the United States; some banks accept deposits via smartphones. There are many options. Because most local businesses accept debit or credit cards, some students keep previously held accounts, use this option, and get cash back when making purchases in order to have some money on hand. There is one Automatic Teller Machine (ATM) in the lower level of the Campus Center: U.S. Bank. Fees for transactions at this ATM will vary.

This information is provided to help you find what's available locally so that you can compare and decide what is best for you. Area banks within a three mile radius of campus are listed below alphabetically, along with links to their websites. Most of these banks will allow you to open an account online. 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, you need to 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-Orienation for International Students.)

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    
176 N 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.


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
1440 University Ave West, St. Paul
(800) TCF-BANK

1.14 miles from campus (in Cub Foods)

Free student checking; $25 minimum opening deposit.  No minimum balance.  Open 7 days a week. 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.  Montly 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 Doug Rosenberg, Director of Budget and Institutional Services at 651-696-6574 or