Most students live on a limited budget. It is important that you learn how to manage your money well. Familiarize yourself with the value of the dollar and never carry large amounts of cash with you or leave it in your room or apartment.
In the United States, it is customary to pay by debit card, credit card or check, rather than using cash, because it is generally safer. It is recommended that you open a bank account as soon as you arrive in the U.S. This will give you access to your money easily and safely for paying any bills by check and for obtaining a debit card.
There are several commercial banks within walking distance of the University. Most banks offer similar services although the service fees might differ.
Opening a Bank Account:
In an effort to reduce money laundering, U.S. financial institutions are required to verify the identity of every individual who opens a bank account. Most banks will require two forms of identification such as your passport and Marymount Student ID Card. You will also need a local address where your bank statements can be sent. Banks usually require at least $25 to open an account. Banks may also have monthly fees as well as check printing fees, so make sure you inquire about what fees you will be charged.
Marymount University has an agreement with PNC Bank, so please inform the bank representative that you are a Marymount student and request the no-fee student account.
Documents to Bring with you to Open your Account:
- Your unexpired Passport
- A Copy of Your I-94
- Your I-20
- Any secondary form of identification such as your MU ID
The banks in the area have automatic teller machines and also provide safety deposit boxes and international money orders. If you obtain an “ATM” card, keep it in a secure place and do not allow other persons to use it on your behalf. PNC Bank has ATM machines on campus and your ID works as a debit card. Learn more about the advantages that PNC has for Marymount students here.
ATM Safety Tips:
- Never share your bank PIN (personal identification number) with anyone.
- Choose an ATM machine in a well-lit area.
- Make sure that you have your ATM card ready before you get to the machine.
- Put your cash and card away as soon as you are done with the transaction.