<p>Hello, </p>
<p>I want to open a bank account in the US as soon as I come. I will have a week to do it before the deadline (to pay the tuition for the 1st semester). I'm struggling a little bit to find info on the banks' websites. So I decided to turn to you guys for your help</p>
<p>-how long does it take to open an account?
-when I do it, do I automatically get a debit card from the specific bank?
- which bank should I choose ? any recs?</p>
<p>Thanks</p>
<p>Open a Citibank account in your home country then go your US college’s town Citibank to transfer funds, debit card.
You can pay your tuition from your home country, check the international student info on the school website and/or email the bursar’s office.</p>
<p>^I second Citibank. I opened an account when I was in the US last year in preparation for my move this Fall. It took me less than an hour to have it set up. I’m sure an adviser at your local Citibank in your country should be able to help you with your transition. Fyi, I was able to get my card the day I opened my account. Also, there is a good chance I will be opening another bank account when arrive to the States as Citibank may not be the most convenient for my location. But for now, Citibank is good for us international kids :)</p>
<p>If you can, I recommend that you get your tuition bill paid before you leave your home country. (Your college might be able to give you an account number that you can wire transfer the payment to.) There’s just too many things that could go wrong in that one week after you arrive.</p>
<p>Opening a checking account should be fast and easy unless the bank finds something to take offense with. (For example, if you are under 18 or your visa is about to expire. A friend of mine got a visa that expired on her first day of classes; the consulate’s way of forcing her to report to school on time. Of course she was legally allowed to remain in the country as long as her I-20 is valid, regardless of the expiration date shown on her visa foil, but try to explain that to a bank employee…)</p>
<p>Re debit cards: most banks will give you a choice between an ATM or a debit card. (ATM cards only work on ATMs, while debit cards can be used in stores as well.) Some banks (e.g. Bank of America) will give you a temporary ATM card (without your name) right when you open your account, while others will have you wait for a personalized card in the mail. </p>
<p>Re choice of bank: Go with a big national bank if you can. College students travel a lot and it’s convenient to have ATMs in other states. I started out with a Wachovia account (on the recommendation of our international student office) but switched to Bank of America when I started going out of state for summer programs and conferences and grad school visits.</p>
<p>Many larger colleges/universities have a branch of some bank right on campus. Even if it is not a national bank, it might be the most convenient for you. Take a look at the ATM machines around your campus and find out which bank owns them. You can save a lot of fees by choosing the bank that owns the ATM that you use most often.</p>
<p>When you do open a bank account, be sure to find out what fees you will be charged. For example a bank may have a $5 fee each month just to keep your account open. Also, every time you use an ATM owned by a different bank, a fee may be charged by your bank as well as by the other bank. All of this can really add up! Some banks will have a fee if you use your debit card for a purchase that is different from the fee for using it at an ATM, or you may only be able to use your debit card for a certain number of purchases every month.</p>
<p>It is confusing! You can look at some of the banks’ websites before you even get to the US to start to develop a notion of what your options are. Some have special “student accounts” that offer a different interest rate, or different fees, that work a bit better for students.</p>
<p>Personally, I don’t like any of the national banks. I think that most of them have fees that are much too high for the services that they offer. My money is primarily in credit unions. If you can join a credit union that is associated with your college/university or that offers membership to you because of where you will be living in the US, it is likely that the fees for various services will be lower, or they won’t exist at all. Most large public universities will have a credit union branch right on campus. To find one near where you will be living and studying use the search engine at [Welcome</a> to CU National Finder](<a href=“Make your money go further at a credit union. - Your Money Further”>http://www.findacreditunion.com/)</p>
<p>My credit unions participate in a number of different ATM networks, as well as a national network of shared branches. This means that I have many of the benefits of a national bank (like free ATMs all around the country), but I don’t have the higher service fees of one of those national banks.</p>
<p>Wishing all of you well as you begin your new adventure!</p>