Best banks in America for International students: An international student studying in the U.S. must essentially have a bank account during their stay there. When studying abroad, traveling with cash in hand is not the safest way to transact, while it can be lost in the crowd or one may fall short of cash in hand in an emergency. Opening a bank account for college students helps their on-the-go lifestyles, along with learning how to spend and save wisely and can have access to debit-credit cards and having deposited your money, in that country’s bank account where you are studying, into a secure account for payments, withdrawals, and transactions are the best way to manage your money.
Having an international bank account makes the job of a student easier in foreign lands. They can pay their rent, seek education loans, and pay their bills easily. Whatever may be the financial situation of the student, in a country like the U.S., having a bank account for students is not that hard. There are many banks in America that offer special accounts for students to scale and exchange money for international residents and the procedure is the same as all local bank accounts.
How to open bank accounts in America
International students who want to open a bank account, have to submit their identification documents like an ID or passport, local address proof along with the lease agreement and any one of the utility bills, along with this they need to deposit some seed money to fulfill the minimum balance requirement which is mandatory in every bank. The required documents have to be submitted to the bank and also students may have to provide proof such as a university offer letter or the university transcript if the bank asks for it. Here is the list of best banks in America for International students.
Best Banks In America For International Students
The PNC Virtual Wallet Student Account can be opened with zero minimum deposit, can be opened online, with low opening balance requirements, and also has the ability to combine checking and savings accounts into a flexible banking package, with no maintenance fees for the initial six years. PNC also provides online articles so that students can learn how to easily manage bills, transact online, and plan savings.
● Chase Bank College Checking Account
It is one of the best overall banks, accessible to the students offering all the features they need for banking. For students between the ages of 17-24, the bank offers no monthly service fee up to graduation. This bank is spread throughout the nation with more than 4700 branches and 16000 ATMs. With zero minimum deposit, the bank doesn’t provide any interest but gives $100 as a signup bonus.
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● Bank of America
The Bank of America will provide the students under the age of 24, with two checking account options combined together, give money management ideas, along with advice on how to create a budget, make saving money automatic in grocery shopping, entertainment, manage debt, etc. Another advantage of opening an account is Advantage SafeBalance Banking which is designed to help students to stay on budget and carries overdraft protection, with an opening minimum balance of $25.
● Wells Fargo
Wells Fargo is one of the most convenient banks in America with the largest number of branches, along with a huge ATM network, Low opening balance, with the facility to link a bank account to a college campus ID, and many services. This bank will also waive the monthly fee on its Everyday Checking Account for students, and doesn’t earn interest.
Another bank account that regards a sign-up bonus for opening a new student checking account in America is Chase bank. Students have access to large ATM and branch networks, get rewarded for referring a friend, customers opening an account will earn a bonus of $100, and are available to actively enrolled students between the age group of 17-24.
● US Bank
For international students from the West, Midwest, and South, using the U.S. Bank Student Checking Account is an optimal choice in America and one of the Best Bank choices for Low Fees because of the free perks it offers. Monthly maintenance fees are waived for students enrolled in the educational institutions, who will have to pay less than other banks for using out-of-network ATMs, and can have free access to their credit score. These are the list of few best banks in America that offer good offers and services to international students studying there.