Banking in the U.S.

International students and scholars may open a bank account in the U.S. to make managing their money and paying for essentials in the U.S. easier.

Most new students only require a simple checking and/or savings account when opening a bank account, which is offered just about anywhere. If you are interested in additional banking services, you may want to do additional research on choosing a bank. NerdWallet's article, How to Choose a Bank is a good place to start. A few basic considerations when choosing where to open a bank account are:

• Proximity to campus or where you live
• Availability of ATMs
• Institution size—national banks have branches all over the country, while regional or local banks only have locations in a limited area of the country
• Customer service and/or online banking features
• Fees for foreign transactions or international wires

Money Management

If coming to William & Mary will be the first time you are living on their own and managing your own expenses, review the resources below. Understanding the cost of living in the U.S., learning how to budget, and making sound financial decisions is an essential part of personal independence and academic success.

• Financial Literacy
• Cost of Living in the U.S.

Opening a Bank Account

To open a bank account, you will need to apply in person at a local bank and provide the following items:

• Passport
• Your physical (street) address
  • If you live on campus, look up the street address for your Residence Hall or the Lettie Pate Whitehead Evans Graduate Complex.
  • Students living on campus will also need to provide the bank with your mailing address (students' will be assigned mailbox numbers). You may obtain the information by going personally to the campus post office. Mailing instructions can be found at W&M Postal Services.
• W&M ID card (Optional. Some banks might offer benefits for students)
• Some banks require a Social Security Number (SSN) to open a bank account.
  • This is a bank policy and not a federal regulation. Federal regulations allow one to open a bank account without an SSN provided that the customer completes a form W-8BEN. This form is available at the bank.