Banking for International Students

Students normally have one or two accounts, according to their needs. A checking account usually requires $0 or maintenance of a low minimum monthly balance. It offers basic services such as checkbooks, ATM (Automatic Teller Machine) card, and online banking. The most common use of this type of account is for regular money transactions (e.g., withdrawals, deposits of money through ATM machine), shopping, and bill payments. Savings accounts offer interest on the balances maintained, but require higher minimums and average balances. Students use a savings account to maintain regular savings for a longer term.

Please note that to open a bank account, you need a SUNY ID card, initial deposit (Cash, Personal Check, Traveler’s Check accepted), and visa related documents (passport, I-94, I-20/DS-2019).

Banking systems in the United States are very different from those in your country. Before you open a bank account, we advise you to ask for banking policies and procedures to avoid costly surcharges and hidden fees. The questions that you can ask are:

• Do they have special account privileges for students?
  These accounts normally waive some of the restrictions on minimum balances, average balance and maintenance fees.
• What is the bank’s monthly or annual service fee?
  Some accounts require a monthly fee depending on usage.
• What is the minimum balance required?
  If your balance goes below a certain minimum, charges may apply.
• What is the monthly check /ATM usage fee?
  Some facilities charge additional fees for printing statements or using more than your quota of checks per month.
• Is there a fee for using another bank's ATM card or machine?
  Some banks have additional fees for using another bank's ATM card/machine for transactions.
• Is there a fee for using special services such as transferring money to my home country, inter-account transfers, or automatic bill payment?
• Do you offer online account management?
  Several banks offer free online access to your account and automatic bill payment (for recurring bills such as gas, electricity, cable TV, etc.).

Local banks in Albany area

The banks listed below offer some specialized services to UAlbany students. Some even have ATM machines on campus or are on the bus lines for easier access.

Bank	Contact Info	Branches Close to Campus
Citizens Bank	1-800-922-9999 www.citizensbank.com	111 Washington Ave. 501 Western Ave. Empire State Plaza 10 N. Pearl St.
HSBC	1-800-975-HSBC 1-800-975-4722 www.us.hsbc.com	899 Western Ave. 126 State St. 95 Wolf Rd.
Keybank	1-800-539-2968 www.key.com	1196 Western Ave. 1295 Central Ave. Empire State Plaza 43 Scotland Ave. (Albany Medical Ctr)
SEFCU	1-800-727-3328 www.sefcu.com	1225 Washington Ave. (Exit 4 Slingerlands) State Office Campus Bldg.3 Empire State Plaza 2114 Western Ave.