Sallie Mae’s No Fee Student Checking Now Provides Surcharge-Free ATMs on Campus

Ann McClure's picture
Friday, December 2, 2011

At a time when it’s more important than ever for students to have access to low cost banking products, the average consumer is spending $30 a year using ATMs. To address this, Sallie Mae is making it possible for student checking account customers to withdraw cash surcharge-free at easily accessible ATMs. With the help of Cardtronics, the world's largest retail ATM owner, Sallie Mae is rolling out ATMs on select campuses which are fee free for students with a Sallie Mae Debit MasterCard. In addition, students have fee free access to 35,000 Allpoint Network ATMs nationwide.

“It is important for students on our campuses to have access to fee free ATMs using their Sallie Mae Debit MasterCards, especially for those who do not have access to other bank accounts,” says Yohannes Alemu, business office manager, Portland Community College. “The fact that they can retrieve cash from their no fee checking accounts provides them with a value added service.”

Sallie Mae No Fee Student Checking accounts are offered on college campuses providing full service checking accounts and a way to receive same day tuition refunds. Accounts provide online and mobile banking services for qualified accounts which include bill pay, remote check deposit, ACH transfers and links to other bank accounts, all with no minimum balance and no inactivity or low-balance fees. With a Sallie Mae Debit MasterCard, college students conduct no-fee PIN and signature-based transactions wherever MasterCard is accepted. For PIN-based transactions, the card promotes responsible spending by helping to prevent overdraft transactions.

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