{"id":394,"date":"2020-02-12T14:20:13","date_gmt":"2020-02-12T14:20:13","guid":{"rendered":"https:\/\/leapscholar.com\/blog\/?p=394"},"modified":"2026-04-23T12:58:50","modified_gmt":"2026-04-23T12:58:50","slug":"banking-tips-for-students-moving-to-usa","status":"publish","type":"post","link":"https:\/\/leapscholar.com\/blog\/banking-tips-for-students-moving-to-usa\/","title":{"rendered":"Moving to the US as a Student? Keep These Banking Hacks in Mind!"},"content":{"rendered":"<span class=\"rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\"><\/span> <span class=\"rt-time\">3<\/span> <span class=\"rt-label rt-postfix\">min read<\/span><\/span>\n<p id=\"d386\">Over a million international students enrolled in US schools for the 2018\u201319 school year, according to&nbsp;<a class=\"bw dl jo jp jq jr\" href=\"https:\/\/www.usnews.com\/education\/best-colleges\/articles\/where-how-international-students-are-studying-in-the-us\" target=\"_blank\" rel=\"noopener nofollow noreferrer\">US News &amp; World Report<\/a>. That\u2019s a significant number, and while each student comes to the United States for their own reasons, they all have a few things in common. One of those is a lack of familiarity with the US monetary and banking system. That can put a serious crimp in your ability to study and enjoy life here! Thankfully, there are a few simple banking hacks that will help!<\/p><div id=\"ez-toc-container\" class=\"ez-toc-v2_0_68_1 ez-toc-wrap-left counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Content<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #192a3d;color:#192a3d\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #192a3d;color:#192a3d\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/leapscholar.com\/blog\/banking-tips-for-students-moving-to-usa\/#Get_with_the_Credit_Program\" title=\"Get with the Credit Program\">Get with the Credit Program<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/leapscholar.com\/blog\/banking-tips-for-students-moving-to-usa\/#Set_Up_a_Checking_Account\" title=\"Set Up a Checking Account\">Set Up a Checking Account<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/leapscholar.com\/blog\/banking-tips-for-students-moving-to-usa\/#Know_the_Network\" title=\"Know the Network\">Know the Network<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/leapscholar.com\/blog\/banking-tips-for-students-moving-to-usa\/#Know_the_Costs\" title=\"Know the Costs\">Know the Costs<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/leapscholar.com\/blog\/banking-tips-for-students-moving-to-usa\/#Conclusion\" title=\"Conclusion\">Conclusion<\/a><\/li><\/ul><\/nav><\/div>\n\n\n\n\n<h2 class=\"wp-block-heading\" id=\"bc15\"><span class=\"ez-toc-section\" id=\"Get_with_the_Credit_Program\"><\/span>Get with the Credit Program<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p id=\"a135\">You\u2019ll notice when you get to the US that most people here rely on debit and credit cards, rather than cash. Make sure to attend the international student orientation day at your school. This is your opportunity to meet with bank representatives and apply for cards that will work with your financial situation.<\/p>\n\n\n\n<p>Opening an account and building credit is also the first step toward managing income from [<a href=\"https:\/\/leapscholar.com\/blog\/part-time-jobs-in-united-states-for-international-students\/\">part time jobs in the USA<\/a>].<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"6d65\"><span class=\"ez-toc-section\" id=\"Set_Up_a_Checking_Account\"><\/span>Set Up a Checking Account<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p id=\"500f\">While many people in the US manage their finances digitally, you will still need an old-style checking account. This allows you to use modern banking apps on your smartphone, make electronic payments, and more. It will also give you a debit card attached to the checking account. Again, orientation day is the best chance to meet with bank reps, compare their offers, and choose an account that fits your needs. Make sure you have official identification so the bank can verify your name, age, and address. It\u2019s wise to choose a national bank instead of a local one simply because you get better access to a wide ATM network.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"f781\"><span class=\"ez-toc-section\" id=\"Know_the_Network\"><\/span>Know the Network<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p id=\"9035\">Speaking of ATMs, make sure you use machines that are branded by your bank or part of its wider network. Otherwise, you risk incurring significant fees on any withdrawals that you might make. However, using your bank\u2019s ATM network does not mean you\u2019re off the hook for foreign exchange fees (we\u2019ll explore those below).<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"ea3c\"><span class=\"ez-toc-section\" id=\"Know_the_Costs\"><\/span>Know the Costs<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p id=\"b1a6\">If you\u2019re an international student, chances are that you\u2019ll need to convert your money into US dollars. That\u2019s pretty simple today, but it comes at a cost. Always try to track the foreign exchange rate so that you know exactly how much money you\u2019ll lose in the conversion. It\u2019s also worth opening a multi-currency account back at home to streamline currency conversion. Finally, pay attention to the fees you\u2019ll incur on things like money transfers. According to The World Bank, the average is roughly 7% per overseas money transfer, which can add up to a lot over time. To minimize that cost, try to transfer money as few times as possible.<\/p>\n\n\n\n<p>Managing your funds is easier if you secure financial aid; learn [<a href=\"https:\/\/leapscholar.com\/blog\/how-to-get-a-study-abroad-scholarship\/\">how to get a scholarship to study abroad<\/a>] to reduce your overall tuition burden.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"f675\"><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span>Conclusion<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p id=\"15b4\">Ultimately, international students have plenty of options regarding securing their finances when studying in the US. Follow the tips we\u2019ve outlined above, and you\u2019ll find your experience is better (and more affordable!).<\/p>\n","protected":false},"excerpt":{"rendered":"<p><span class=\"rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\"><\/span> <span class=\"rt-time\">3<\/span> <span class=\"rt-label rt-postfix\">min read<\/span><\/span> Over a million international students enrolled in US schools for the 2018\u201319 school year, according to&nbsp;US News &amp; World Report. That\u2019s a significant number, and while each student comes to the United States for their own reasons, they all have a few things in common. One of those is a lack of familiarity with the [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":395,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"blocksy_meta":{"styles_descriptor":{"styles":{"desktop":"","tablet":"","mobile":""},"google_fonts":[],"version":6}},"_links":{"self":[{"href":"https:\/\/leapscholar.com\/blog\/wp-json\/wp\/v2\/posts\/394"}],"collection":[{"href":"https:\/\/leapscholar.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/leapscholar.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/leapscholar.com\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/leapscholar.com\/blog\/wp-json\/wp\/v2\/comments?post=394"}],"version-history":[{"count":3,"href":"https:\/\/leapscholar.com\/blog\/wp-json\/wp\/v2\/posts\/394\/revisions"}],"predecessor-version":[{"id":78316,"href":"https:\/\/leapscholar.com\/blog\/wp-json\/wp\/v2\/posts\/394\/revisions\/78316"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/leapscholar.com\/blog\/wp-json\/wp\/v2\/media\/395"}],"wp:attachment":[{"href":"https:\/\/leapscholar.com\/blog\/wp-json\/wp\/v2\/media?parent=394"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/leapscholar.com\/blog\/wp-json\/wp\/v2\/categories?post=394"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/leapscholar.com\/blog\/wp-json\/wp\/v2\/tags?post=394"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}