Banks

Banks

For opening a bank account, one may need valid Social Security Number and resident address. Usually it is enough to provide address of your temporary accommodation and change it when you move to your permanent address.

Online banking functionality is very limited compare to, for example, Europe. The most common way of payment are cash and checks (banks usually provide only for fee). Credit / debit card can be used on-line, in most shops and for some utility payments (i.e. internet). Most other utilities can be paid in online banking. Ask bank teller to walk you through, because this is not very intuitive.

Transfer from account to account practically do not exist (or are expensive). Some use 3rd party services such as Venmo, other go with cash or checks. Ask your landlord what is the preferred way of paying the rent. If you rent from a company, chances are it can be paid online. If you rent from private person, you may end up bringing cash in person every month :)

When deciding which bank to create account with, choose some one with branches at convenient locations (you will need to visit it at least once a month), is close to university (they have experience with foreign students) and ask them if they are able to deposit/cash the checks you will be getting from your national Fulbright Commission. Even some major national banks may struggle with it.

Experience: When depositing Chase issued travel check in Chase bank, it took 2 business days before funds were available. That may be an issue especially with the first check when you need to pay the first rent and an deposit before you can move in.