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Banking

Banking in the U.S.

Opening a U.S. bank account can make life easier after you arrive in Seattle. Many international students use a U.S. bank account to receive payments, pay rent, use a debit card, transfer money, and avoid international transaction fees.

Banks have different requirements, so it is a good idea to check the bank’s website or call ahead before visiting a branch.


Open Banking Map

Opening a Personal Bank Account

Many banks near UW allow international students to open a personal bank account. Requirements may vary by bank, so bring your documents and ask the bank what they need before your visit.

What to Prepare

  • Passport
  • F-1 or J-1 visa, if applicable
  • I-20 or DS-2019
  • UW student ID number or Husky Card, if available
  • U.S. address, such as your residence hall or apartment address
  • Phone number and email address
  • Social Security Number, if you have one. If you do not have one, ask the bank what other documents they accept.

General Steps

  1. Choose a bank and check whether you need an appointment. Walk-ins may be allowed, but an appointment can help reduce waiting time.
  2. Tell the bank staff that you are a UW student and would like to open a personal checking account.
  3. Provide your identification and immigration documents.
  4. Making an initial deposit
  5. Ask the bank staff to explain account fees, debit card options, online banking, and mobile banking.
  6. After opening the account, download the bank’s mobile app if you plan to use mobile banking.

Tip: If the bank supports Zelle, you can ask the staff whether it can be set up with your account. Zelle is commonly used in the U.S. for person-to-person transfers, but availability depends on your bank.

Accessible Accordion

  • Checking account: Usually used for daily spending, debit card payments, rent, bills, direct deposit, and ATM withdrawals.
    • Debit card: A card connected to your checking account. When you use it, money is taken directly from your account.
  • Savings account: Usually used to keep money separate from daily spending. Some savings accounts may earn interest.
  • Credit card: A card that lets you borrow money and pay it back later. Credit cards can help build credit history, but students should understand interest, fees, and payment deadlines before applying.

  • Is there a monthly maintenance fee?
  • Is there a minimum balance requirement?
  • Is there a student account option?
  • Are there ATM fees? Which ATMs can I use for free?
  • Is there an early account closure fee?
  • How long does it take to receive a debit card?
  • Can I use online banking and mobile banking?
  • Can I receive direct deposit from UW or an employer?
  • How do domestic and international wire transfers work?
  • Are there fees for incoming or outgoing wire transfers?
  • What should I do if my card is lost, stolen, or blocked?

Some banks may offer student benefits or new account promotions. These offers can change, so read the terms carefully before opening an account.

  • Student checking accounts may have lower or waived monthly fees.
  • Some banks may offer sign-up bonuses for new customers.
  • Some banks may offer referral bonuses if a current customer refers you.
  • Some accounts may waive fees if you receive direct deposit or keep a minimum balance.
  • Some banks offer budgeting tools, credit score tools, or financial education resources through their mobile app.

Before choosing an account based on a bonus, check whether there are minimum deposit requirements, direct deposit requirements, account closing fees, or deadlines.

Receiving Money and Making Payments

Direct Deposit

If you work on campus or receive certain payments from UW, you may be asked to set up direct deposit. Direct deposit usually requires your bank routing number and account number.

UW Direct Deposit Instructions

Paying Tuition and Fees

International students may be able to pay tuition through international payment services such as Flywire or Convera, or by wire transfer through Student Fiscal Services. Always use official UW payment instructions and be careful of scams.

UW Tuition Payment Information

Checks and Cashier’s Checks

Some apartments, landlords, or offices may accept personal checks or cashier’s checks. If you need one, ask your bank how to request it and whether there is a fee.

Mobile Deposit

Many banks allow customers to deposit checks using the bank’s mobile app. Availability, limits, and processing time depend on your bank.

Be Careful of Scams

Be careful if someone pressures you to share your bank account number, passport information, payment app information, UW NetID/Student number, or immigration documents. Scammers may pretend to be from the government, police, bank, delivery company, or university.

  • Do not share personal or financial information if you feel rushed or threatened.
  • Do not send money to someone who says you must pay immediately to avoid arrest or immigration trouble.
  • Verify requests using official websites, phone numbers, or UW offices.
  • Contact ISS or UW Police if you think you have been targeted by a scam.

Scam Safety Information

U.S. Currency

U.S. currency comes in paper bills and coins. Paper money is commonly used in $1, $5, $10, $20, $50, and $100 bills. Common coins include the penny, nickel, dime, and quarter. One dollar equals 100 cents.

  • Penny: 1 cent
  • Nickel: 5 cents
  • Dime: 10 cents
  • Quarter: 25 cents

The dime is smaller than the nickel, but it is worth more.

Investment Accounts

Some investment or brokerage accounts may require a Social Security Number, Individual Taxpayer Identification Number, or additional tax documents. Requirements vary by company. New students may want to focus first on opening a basic checking account before considering investment accounts.

  • If you plan to open an investment account, be aware that investment income, such as capital gains or dividends, may have U.S. tax reporting requirements. Learn more from the IRS.