Before you get started with your college classes, it’s important to know how to open a bank account in the United States. This guide will give you all the information you need to open a student bank account so that you can start managing your funds and making international transactions easier.
Table of Contents
Prepare Your Documents
Before you go to the bank, make sure that you have all of your documents in order. It’s best to have your passport with you, as well as any other official identification cards that you may have received from your university or school. You should also bring with you proof of address (such as a utility bill or lease agreement) and, if applicable, a student visa and financial aid award letter.
Make an Appointment
Make an appointment with the bank you want to open an account with. Make sure you call the bank in advance and talk to them about what documents are required for opening a new account, such as your passport, visa and student ID (if applicable). You will need to bring these documents with you on your first visit as well as your social security card or number (if available).
You will be asked to fill out a form when applying for an account at most banks but this isn’t always the case so you should check beforehand if there are any additional requirements from other banks.
Don’t Forget The Rules
Some banks will require you to have legal status in the United States to open an account. If your visa has not been issued yet, it’s best to wait until after it has arrived before trying to open an account. If you don’t have a visa yet, but want to start opening bank accounts now, then go ahead and follow the steps above! You can always come back and update this section later on when things are settled for you.
Set up a Direct Deposit
Once you have an account, setting up direct deposit is simple. With your bank’s help, set up a direct deposit with your employer. This will get your paycheck directly deposited into your new US bank account each month, so long as the funds are available by the time that payday comes around.
Direct deposits are convenient because it allows you to get paid without having to worry about going in person or mailing checks back and forth between accounts!
They also provide another layer of security for students who work online jobs, such as freelance writing or virtual assistant services. If someone tries to steal their money from their checking account they will receive an alert immediately when they try making any withdrawal transaction (withdrawals aren’t possible without setting up this feature first).
You can easily, “Keep an eye on your spending and saving, pay friends and family, get real-time alerts, and more” with the help of financial advisors like SoFi.
In conclusion, opening a US bank account for international students can be a stressful process. However, it doesn’t have to be! If you follow these steps and take things slowly, then you will soon find yourself with an account that meets all your needs.