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To receive or send money online through a money transfer company, you would require a bank account to complete the transaction. You can visit the bank’s branch to open your account or visit their website to see if they allow students to open an account online. Seed money to open the bank account (differs with each bank).Second ID proof (student card or driver’s license).It is important that you check with the bank and see their dependency on visa applications.Īs an international student, you would typically require the following documents to open a bank account in the USA: Some banks only allow students to open accounts with a specific student visa such as F1 Visa (academic studies), J1 Visa (practical training) or M1 Visa (vocational studies). On the other hand, a checking account allows you to deposit, withdraw, and send money online as often as they would like. A savings account would allow a student to earn a better interest rate and save money over an extended period or if you are working part-time.
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There are two types of bank accounts an international student can choose from in the US: a savings account, and a checking account.
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Refer to the chart below for more details on fees and benefits.