How to Open a Bank Account

Some suggestions to choose a bank

PNC--Has a branch inside the student Union

Huntington-- Has ATM on campus near Rec Center

Chase-- Nearest Chase branch address: 632 E Market St, Akron, OH - 44304

Fifth Third-- Nearest branch is located in downtown Akron

City Bank

First Merit

Now get in the bank website and locate a branch of the bank chosen that is near to you (all the banks suggested here are in a walking distance from the University of Akron campus).

Now just go there and ask to open a checking account. Most banks offer student accounts, which usually have interesting benefits.

Documents need to bring to open a checking account

- Passport and I-20/DS2019

- Proof of address (could be any letter as long as it has your home address in the U.S. e.g.,

electricity bill letter, phone bill, Apt. or house renting contract, etc.)

- Zipcard

- Driver License (if you have one)

- Previous credit or debit cards you had (if you had them)

Talking about US Currency

The History of U.S. Money
Paper Money

Coins (Change): You can use change in everyday transactions.

-- Pennies cannot be used for:

  • parking meters
  • stamp machines

-- Quarters are normally used for:

  • washers and dryers in a commer cial laundromat
  • parking meters

Difference between a credit card and a debit card

Both look the same, even though they work differently.

- When you use a credit card, you are basically letting your bank pay for it now, and you

will have to pay for it on a established date later, If you only pay the minimum, you will

need to pay interest.

- When you use a debit card, you are paying by transferring the money directly from your

account to the seller. You can have checking and saving account when you open a debit


How to Write a Check

Click here, you will be learning 6 STEPs of how to write a check

Why Is It Important to Have a Credit Card?

Credit card can be useful tool for building credit history. Your credit history is something that stays with you for a long time and can impact everything from buying a home to getting a job. The better your credit history, the more likely you’ll be able to obtain the financing you need at favorable terms. So, needless to say, having good credit is of great importance.

Did you know?

  • Your credit history is reviewed as part of the application review process for some student loan programs, e.g., the Federal Direct PLUS Loan. You can’t have “adverse credit” to qualify for these loans under your own signature.
  • Many employers require a review of your credit history before they’ll offer you a job. They may use the information as a measure of how responsible you are.
  • One day you may want to borrow money to buy a home, finance a professional practice, obtain optimal insurance rates and more. You don’t want a bad credit history to get in the way of your financial freedom.

Simply, your credit history is one of the primary tools that credit grantors use to determine if they’ll lend you money, how much, and under what terms. It makes sense that the better your credit history, the more likely you’ll be able to obtain the financing you need at favorable terms when you need it. And it’s important to think about the future. You don’t want your credit history to get in the way of achieving personal or professional goals.

(Cited from accessgroup--Importance of Good Credit, on Mar 29, 2014)

Tips and suggestions for opening a credit card:

1. Don't care about your credit line when opening you first credit card. Usually, a student can get $500 for the first time. As long as you pay money on time, you credit line will be raising up.

2. Discover Credit Card is easier to open for a newly international student.

3. How to open a credit card? Go to bank website you want to open your credit card, fill in your information, and wait for the bank notice. Usually, it takes a week for processing.

4. Savings in the bank might help you get better chance to open a credit card. e.g, Chase.

5. Pay attention to the terms when you open your card.