After arriving in the U.S. with your J-1 Visa, opening a bank account will help you manage your finances and avoid international fees that your own bank may charge. If your host organization pays you, they’ll likely require a U.S. bank account for direct deposit. Even if you’re on an unpaid program, having a local account makes daily life easier. Not sure where to begin? No worries! Here’s all you need to know to get started.
1. Explore Your Options
The U.S. has many banking options – from large national banks to small local institutions and online-only banks. Do some research and find out which banks are convenient for you. You’ll want to consider where the bank is located and where they may have other branches and automated teller machines (ATMs) available.
Should you open a checking account, savings account, or both? Most J-1 Visa holders only need a basic checking account (sometimes called a “student checking” or “everyday checking” account). Most of these are free to open in the U.S.!
But should you also open a savings account? While checking options are best for everyday transactions, a savings account can help you budget by putting some money aside. Some banks even have special options designed specifically for international students and visitors like you.
If you’re on a paid cultural exchange program, start by checking with your host employer about their preferred bank for direct deposits. They may recommend a major bank like Chase, Wells Fargo, Bank of America, or Citibank, or a smaller local bank that works closely with area businesses. Next, ask people you trust for advice. Talk to your roommates, American friends, host family, or coworkers about which banks they recommend.
2. Questions to Ask the Bank
As you continue exploring, it’s also a good idea to speak directly with bank representatives. When you go into a bank, someone will greet you and ask how they can help you. Tell them that you are interested in learning about opening an account with them. Let them know you’re a J-1 Exchange Visitor staying in the U.S. temporarily—they’ll be able to guide you accordingly. Here are some questions to ask them:
- Do you have a minimum required amount to open an account or a minimum daily balance? (We recommend avoiding this.)
- Do you have a maintenance fee? (We recommend avoiding this.)
- What additional fees do you charge? (Are there overdraft fees? ATM fees?
- What extra fees might you incur?)
- What do I need to know about online banking?
- What do I need to know about closing my account before I leave the U.S.?
- Do you have a branch close to my residence or workplace?
- Do you offer online banking or a mobile app?
- Does my account include a debit card I can use for purchases and ATM withdrawals?
- Does it also work for online purchases?
Don’t leave without finding out who you can contact if you have additional questions or concerns. For day-to-day transactions and general banking, you can always wait in line to speak with a bank teller; if you just need cash, you can go to an ATM. You should also have the toll-free number for the bank in case of any emergencies, such as losing your card, so they can cancel it and send you a new one.
3. Bring the Right Documents
Keep in mind that each bank is different and may require different or additional documentation (particularly forms of identification) from the list we’ve provided below. Check your chosen bank’s requirements online before going in person to open your account.
- Your passport with your J-1 Visa
- DS-2019 Form and any other documents related to your J-1 Visa
- Printout of your electronic I-94 record.
- Your Social Security card (if you have already received it)
- Your full name, living address in the U.S., phone number, place of employment (Some banks might ask for your lease or something showing your local address, like a utilities bill)
- Your student identification card, if applicable
- Government identification from your home country (if you have one)
- A credit card (if you have one; it can also be used as a form of identification)
Safety Tips
With fraud attempts becoming increasingly common and advanced, here are some safety tips to keep in mind when opening a bank account in the U.S.:
- Always keep anything bank related, such as account numbers and checks, in a safe place at home. You should never give out your account number or checkbook to anyone. Only your employer (if using direct deposit) will need your account number and routing number.
- Never share the personal identification number (PIN) associated with your bank cards. Your host employer will need some account information if you wish to set up direct deposit, but they will never need your PIN.
- Keep the phone number for your bank with you or stored in your phone. If your ATM card is lost or stolen, you will need to call this number to report it and have a replacement mailed to you.
- Always be aware of how much money is in your account to avoid any overdraft fees or bounced checks.
- Use ATMs operated by your bank to avoid out-of-network ATM fees, which can range from $2 to $5 per withdrawal.
- Use ATMs at bank branch locations or inside stores. Try to avoid using ATMs on sidewalks where passersby can see you withdrawing cash or entering your PIN.
- Monitor your account on your bank’s website to ensure there are not any incorrect charges or fees that were not explained to you.
- If you will travel internationally during your time in the U.S. and wish to use your debit card, be sure to alert your bank in advance to notify them of your travel plans. Otherwise, they may suspect someone stole your card and temporarily deactivate it.
While finding the right bank is an investment, it’s one that pays off quite literally! By asking the right people and right questions, you’ll be setting yourself up for a rich and stress-free experience. For more tips on opening a bank account in the U.S., check out this instructional video.
