Why international students should open a US bank account

Why international students should open a US bank account

If you are an international student you must take a look at all the reasons why opening a US bank account is convenient for you. Keep reading to find out all the important details in this article!

If you are an international student you must take a look at all the reasons why opening a US bank account is convenient for you. Keep reading to find out all the important details in this article!

College essentials can quickly add up, especially if you’re an international student using a foreign bank account. If you’re accessing your home country account while in the U.S., you’re likely to get hit with charges such as international transactions and currency exchange fees.

If you’re accessing your home country account while in the U.S., you’re likely to get hit with charges such as international transactions and currency exchange fees.

Opening a U.S. account will put an end to those added fees, while providing a host of other benefits. Some benefits are: Easily pay rent, utility or mobile phone bills, receive funds from another U.S. account in a speedy manner - apps available-, and take the first steps to establish a U.S. credit history. 

First, you’ll need to do a little research. Ask fellow international classmates and the school’s international student office for bank suggestions. Check out bank websites and read online reviews. Study up on the location of cash machines to make sure they are near campus. You’ll pay fees if you use an ATM that is outside your bank’s network.

Ask fellow international classmates and the school’s international student office for bank suggestions.

The primary accounts to consider are checking and savings. Of those, a checking account should be your priority. It keeps your money readily accessible, which makes it easy to pay bills and make purchases.

What is more, family members and others can send money electronically to your U.S. checking account from their local bank via a wire transfer. It’s secure and you can receive the funds relatively quickly. But keep in mind that you may be charged fees for receiving, and sending, any international wire transfers.

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