Manage Your Money

Travelerís checks are rarely used these days and carrying large amounts of cash is not advisable. Learn about the U.S. banking system and decide how youíre going to access money in the states.

Type Use Considerations Recommendations
Checking Account
  • Make deposits into your account
  • Withdraw money from your account
  • Use debit card
  • Write checks or use check card
  • May have fees
  • May have minimum balances
  • Be aware of fees for over drafting (taking out more money than you have)
ATM
  • Withdraw money from your checking account
  • Located in cities all over the world and usually open 24 hours
  • Check account balance
  • Transfer money
  • Deposit funds
Be aware of fees for using an ATM that doesnít belong to your bank Some banks are located only in specific states, so find out where the bankís branches are located before opening an account  
Debit card/
Check card/
ATM card
  • Use card to purchases items and withdraw money from ATM
  • Money is deducted directly from checking account
Some banks charge for use of card  
Credit Card
  • Use credit card to purchase items
  • Have recurring bills charged automatically to your card.
Must have social security number to apply for credit card. You can get a social security number by being employed. International students are often denied a credit card because there is a risk they will leave the country without paying
 

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