Bank Accounts in the USA
As an international student studying in the United States, having a US bank account will make managing your finances significantly easier. With a US bank account, you can deposit your checks and/or stipends as well as money from home. With a bank account, you can pay all of your bills by check, and manage your bill payments online. In addition, many banks issue debit cards with a MasterCard or Visa emblem, which enables you to use the card to make purchases anywhere that accepts MasterCard or Visa.
Types of Bank Accounts
There are two main types of bank accounts in the US.
These allow you to frequently deposit and withdraw money. They are a great way to pay your monthly bills. When you open a checking account, it usually comes with a checkbook and a bank card. There are usually minimum monthly balances and service fees, and these vary depending on the type of account you open. Most international students only need a checking account, which they use for managing living expenses while at school.
These are for long term deposits for accruing interest. The interests, minimum balances, and service fees will vary from bank to bank. As an international student, you will probably not need a savings account.
How to Open a Bank Account
Although many banks advertise that you can open an account over the phone or online, you should plan to open an account in person. As an international student, you do not fit neatly into any category set by US banks, and it will be easier to deal with any complications in person. In addition, it’s always useful to establish a face to face relationship if you require additional services. When you go to the bank to open a bank account, you will need to bring:
- Your full name, home address, home telephone number from your country
- Valid passport
- Valid Visa
- Copy of housing lease
- Any secondary form of identification (i.e. your passport, birth certificate, State driver’s license)
You will also need the funds you want to deposit and open the account with. Every bank has slightly different requirements, so make sure you ask beforehand so you don’t forget something you need.
Nearest Banks to the University:
3945 East Bay Dr, Largo, FL 33771
Phone: (727) 531-7158
Bank of America
6599 Ulmerton Rd, Largo, FL 33771
Phone: 1 (800) 432-1000
3705 East Bay Dr, Largo, FL 33771
Phone: 1 (800) 634-7928
9701 Starkey Rd, Largo, FL 33771
Phone: 1 (800) 734-4667
*Please note that Schiller International University does not endorse and/or recommend any specific website and/or business.