Best bank for foreign students in the USA

Are you a student in the USA from another or foreign country? Are you searching best bank to open your account which is profitable for you? Then the answer for all these questions will get you from this article. RBI has advised banks to provide convenience to foreign students while opening bank accounts.

Best Bank For Foreign Students In the USA

Having the best bank account up can make a smoother adjustment to university. By banking in the USA, you eliminate foreign transaction fees and gain a convenient way to pay for books, food, rent, and other essentials. Some Best bank lists for foreign students in the USA are as follows;

Best bank lists for foreign students in the USA

Top best bank list for foreign students in the USA
Bank Bank account name Monthly service fee Minimum initial deposit Who is it available to Other perks
Bank of America Bank of America Advantage Banking No fee for eligible students $25 Students under 24 and enrolled in school Online and mobile banking

Debit card lock/unlock

$0 Liability guarantee

 

Chase Chase college checking account $6 monthly service fee or $0 for 5 years in college $25 College students aged 17 to 24 years old with proof of student status Get $100 when you open a new account

Access to 16,000 ATMs and nearly 5,000 branches

Chase quickpay with Zelle® (send money in moments)

Chase Mobile® app

Zero Liability protection

Wells Fargo

Student checking account

read more: How to activate a wells Fargo Card?

$10 monthly service fee or $0 for 17-24 year olds $25 17- 24 year old college students Access to more than 13,000 ATMs

Wells Fargo Mobile® app

Zero Liability Protection

24/7 Fraud monitoring

Chip technology

HSBC USA HSBC Student accounts No monthly maintenance fee for six years $25 Over 18 US students and international students studying in the US Receive $100 welcome deposit
HSBC USA HSBC USA International student checking account No monthly maintenance fee for six years $25 Available for international students until December 31st 2019 30-day SIM card with unlimited international calls, 2GB data plan, 200 text messages

Access to exclusive offers and services, including travel, transportation and airport services and more

No minimum deposit balance required with account opening

US Bank U.S. Bank Student Checking Account No monthly maintenance fee (unless you wish to receive paper statements, which cost $42 per month) $25 US or international students Free U.S. Bank ATM transactions

No minimum balance

No bank fee on first four non-US ATM transactions per statement period

Online banking with free credit score access

Santander Student Value Checking No monthly fee for students $10 Students aged 14-25 Apple Pay

Reduced ATM fees

No incoming wire fees

TD Bank TD Convenience Checking $15 or $0 if between 17-23 $0 Students aged 17-23 Until December 2nd, 2019, $150 bonus with direct deposits of $500 or more in 60 days

Free at TD ATMs

Send money with Zelle®

Keybank Key Student Checking $5 or $0 if you make at least 5 posted transactions or deposit at least $200 to waive the monthly maintenance fee. $50 Students ages 16 to 24 who are high school juniors or seniors or are enrolled in post-high school education Online banking

Zero fee overdraft protection transfers if linked to a KeyBank savings account

Financial wellness tool

How to generate a bank account for foreign students in the USA?

It’s not complicated, that you thought as a foreign student. Check out flowing step by step guide considering as this is your assignment;

  1. Explore bank options: Look for a bank that has branches or fee-free cash machines (known as ATMs) close to campus. Fees vary from bank to bank, so ask for a list of charges associated with the accounts you plan to open. Check about a bank’s online and mobile tools to be sure you can access your accounts whenever it suits your schedule.
  2. Get your documents in order: You’ll be asked for two forms of identification (typically a passport and a secondary document such as a driver’s license, birth certificate, or student identification), government forms related to your domestic studies, and a letter proving you are enrolled in university. Be sure to find out what your bank specifically require.
  3. Open a checking account and consider a savings account: With a checking account, your money is readily available for purchases and bill payments. You can tap into funds by writing a check, using a debit card, or transferring money online. Your debit card gives you the ability to buy goods and services at many merchants globally, as well as to withdraw and deposit money at cash machines. If you expect to have a large amount of money that you won’t need to access immediately, look into opening a savings account in the USA as well. You’ll earn interest on the funds and can transfer money from savings to checking to pay your bills. You may have more information  you should go through this article Saving vs Checking account : How to pick what’s better for you
  4. Get a credit card: A strong U.S. credit record can help you rent an apartment, qualify for a low-interest loan and get favorable rates on car insurance.
  5. Safeguard your accounts: There are vital security-related steps you can take to keep your financial information secure. Use strong passwords and vary them, delete any emails requesting account information – they aren’t legitimate – and regularly update digital devices to install the latest security protection.

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