Once you have arrived in the United States, you will need to open a bank account. Banks in the U.S. offer many kinds of financial services, including:
- Checking and savings accounts
- Foreign currency conversions
- Bank drafts
- Money orders
- Credit cards
- Loans
- Interbank transfer
- Traveler’s checks
- Safe-deposit boxes for storing valuable items
- Investment services
Where can I get a bank account?
Several banks and credit unions are located near the UMES campus.
Opening a bank account
Opening a bank account is like entering a contract. Be sure to read everything and ask questions if anything is not clear to you.
There are requirements you will need to fulfill before you can open an account.
What to bring with you
When you go to the bank to open an account, bring the following items:
- Your unexpired passport
- Your I-20, DS-2019, or I-797 approval notice
- Any secondary form of identification you have, such as your student ID or a credit card
Customer identification
U.S. financial institutions are required to verify the identity of every person who opens a bank account in order to prevent fraud like money laundering.
Banks must obtain the following information from you before allowing you to open an account:
- Your name
- Your date of birth
- Your street address (cannot use a P.O. Box)
- An identification number, such as:
- Social Security number (SSN)
- Passport number and country of issuance
- Alien identification card number
- Number and country of issuance of any other government-issued document proving nationality or residence and bearing a photograph or similar safeguard
Each bank has its own customer identification program and may ask for documentation in addition to what we have listed.
If I applied for a SSN, do I need to wait until I receive it to open a bank account?
If you have already applied for a Social Security number before you try to open a bank account, you should take a copy of the receipt notice with you. It can serve as additional documentation to help establish your identity. As soon as you receive your SSN, inform your bank.
How do I get cash out of my account?
When you need cash from your bank account, you have two options—visit the bank during operating hours, or use an automatic teller machine (ATM). Your financial institution can tell you if there is a charge for using ATMs.
