How to open bank account in USA as international student?

How to open bank account in USA as international student?

Thu Nov 23 2023 Effa Iqbal

Studying in the United States is a transformative experience, but it comes with various challenges, including managing your finances effectively. As an international student, you’ll find that opening a US bank account is not just a convenience but a necessity.

In this guide, we’ll explore the reasons behind the importance of having a US bank account, the types of accounts available, the process of opening an account, necessary documents, considerations when choosing a bank, and a review of some top US banks.

Opening a bank account in USA for international students

The Importance of Opening a US Bank Account

As an international student, you’ll need a reliable means of managing your finances, from covering your daily expenses to receiving funds from your home country.

While you can use your home country’s bank account, the associated international transaction fees and currency conversion charges can quickly accumulate, making it an impractical choice for everyday transactions.

A US bank account streamlines financial transactions and provides additional benefits.

Types of Bank Accounts for International Students in the US

Understanding the types of bank accounts available is crucial for making an informed decision. In the US, two main types cater to the needs of international students:

Checking Account:

This account allows unlimited withdrawals and deposits and typically comes with a debit card. It’s ideal for daily transactions, such as shopping or paying bills.

Savings Account:

While primarily intended for saving money, a savings account allows occasional withdrawals. It can be a prudent choice for those working part-time or looking to build a financial safety net.

Many US banks offer specialized international student checking accounts with added perks, such as fee waivers and freebies.

How to Open a US Bank Account

Opening a US bank account can be done online in some cases, but for international students, the process is often smoother in person. Here’s a step-by-step guide:

a. Research and Choose a Bank:

Before leaving for the US, research banks near your university. Choose one that aligns with your needs and preferences.

b. Visit the Bank:

Upon arrival, visit the chosen bank with all the necessary documentation.

c. Required Documents:

The typical documents needed include your

d. Additional Requirements:

Some banks may request additional documents, so it’s advisable to check with the bank beforehand.

Considerations When Choosing a Bank

Selecting the right bank involves careful consideration of several factors:

a. Location:

Opt for a bank with branches and ATMs near your university. This provides easy access to banking services and helps you avoid additional charges for using ATMs from other banks.

b. Service Charges:

Most banks charge a monthly maintenance fee. However, many waive this fee for student accounts or if you maintain a minimum balance or make regular deposits. Understand the bank’s fee structure to make an informed decision.

c. Offers and Perks:

Some banks offer cashback incentives and bonuses for using their cards. Compare the perks offered by different banks to maximize the benefits associated with your account.

d. Overdraft Protection:

Consider the bank’s policies regarding overdrafts. Having overdraft protection can prevent declined payments, but it’s essential to understand the associated fees and terms.

Opening a bank account in USA for international students in USA

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Top Banks in the US

Several prominent banks cater to the needs of international students in the US:

Research each bank’s offerings, comparing account features, fees, and additional benefits to make an informed decision based on your specific needs.

opening a bank account in USA for international students


In conclusion, opening a US bank account is a critical step for international students to navigate the financial aspects of their academic journey seamlessly.

The right bank account facilitates day-to-day transactions and offers valuable perks and protections.

By considering the factors mentioned in this guide and researching top US banks, you can make a well-informed decision that aligns with your financial goals and enhances your overall student experience.

Embark on your journey with confidence by starting a conversation with a friendly Edify Counsellor.



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