<p>I'm an Indian student and I'm going to a university in the US in a week. I've got almost everything ready (VISA, flight tickets, luggage etc). "Almost" because I still don't know how I'm going to take the money with me. The University accpets tuition and other fee through Traveller's Checks but I'm not sure if I should take the money through Traveller's Checks because of the commissions I'll have to pay for each transaction. I heard there's Thomas cook debit card but don't know how good it is...</p>
<p>I'm looking for an efficient way to carry the money. Please advice me...</p>
<p>Also, I have no clue how to get Traveller's checks. I'd be glad if someone could help me with the mechanics of this whole money thing....and quick! because I've got less than a week!</p>
<p>Well do you mean that money solely to pay for school ? At my school, we could pay with a wire transaction (Western Union), or through credit card for a small fee. Paid with credit card since they give out miles :) . Maybe you can pay through Western Union ?
I was thinking of using pocket money in cash, but mostly by debit card. I have a Visa debit card so it is pretty much accepted everywhere. Family can deposit it in my local bank account and I can use it abroad. I'm missing a few weeks till college starts, so I think that my best bet. Any international already in college can give a better way, or how do they deal with money there ?</p>
<p>Danhernan.. how do you get a visa debit card? Can I say open a Citi bank account in my country.. then use the debit card everywhere else? How about an ATM card too?</p>
<p>I was looking for a solution for money transaction for all my initial expenses in the US....university payements being a part of that initial expenditure.</p>
<p>I'm aware of the credit card payment option but I wish to know of a way I can evade that "small fee". Perhaps I can convert Indian currency to dollars and take it there and pay through cash? Would that be a better option?</p>
<p>Hey YOU, well if Citi is in your country you can do that I guess. In my case in a local bank here all I need to do is open a bank account and then ask for a Visa debit card. All I needed was like 5$ to start an account and be 18 years old at least. I guess if you Citi is might be even easier.</p>
<p>YOU, many American students have credit cards (for the purpose of building a credit history - a concept whose deeper sense still escapes me). Not sure how easy it is for international students to get a credit card, but a debit card is fine for most purposes (you can buy stuff online etc. the only difference is that the money is taken right out of your account, so there is no "credit" involved).</p>
<p>I heard it is possible to use visa debit cards issued in the US overseas, but the fees are horrendous. I am also not sure if visa debit cards are available everywhere - I have never seen them in my home country before, for example. In the US my visa debit card = my ATM card, and almost everyone has one.</p>
<p>Ask at your bank whether they can issue you an automatic teller (ATM) card that can be used overseas. If they do, it will probably have a VISA or MASTERCARD logo on it somewhere.</p>
<p>Ask which networks your card will work on. Some cards will only work in machines associated with a particular bank. Other banks belong to large networks and the cards can be used just about anywhere.</p>
<p>Ask which account the money will be drawn from.</p>
<p>Ask how much money you can withdraw each day.</p>
<p>Ask about "foreign teller fees" that your bank might charge you for using a machine that does not belong to your home bank.</p>
<p>If your home bank doesn't charge "foreign teller fees", ask if they will refund you any fees that that strange bank charges directly to you (often $1 to $2 per withdrawal).</p>
<p>Ask about currency conversion fees (often around 1% to 2%).</p>
<p>In my personal experience, massive amounts of money such as the amount that you will have to pay directly to your university, are best sent directly by wire transfer, because all of these nasty little fees do eventually add up to a sizable amount of money. When traveling abroad, I've found using an ATM card to be the most efficient way to get "spending money", and the exchange rates were more favorable than by converting paper currency. Your experience may be different.</p>
<p>As to carrying a year's worth of tuition and expenses in cash in your socks, well I just don't advise it. </p>
<p>When you get to the US, find out if you are eligible to join your university's Credit Union (most will let you once you are a student). Their service fees will be lower than at a bank because there are no stockholders to please, and they will offer just about every imaginable banking service - including receiving wire-transfers from your parents if you need money in an emergency.</p>
<p>Well, my parents don't send me any money at all, but I got my own funds from my home country to the US by wire transfer (minus $500 that I carried in cash for the first week or two until I got the wire transfer money). I don't think which bank I am using is relevant to this discussion. Coming to think of this, it would make more sense to ask which bank is using me :)</p>
<p>I just got some Traveller's checks and cash from Thomas cook. I'm gonna deposit the TC in the bank account in the US once I open it there. Then I'll just use the card they give me for internet transactions.</p>
<p>As for the major stuff like University tuition, housing, meal plans etc my dad's bank has drawn an international check in favour of the university.</p>