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Before diving into the details of the international student bank account in the USA, let us understand the types of bank accounts for international students in the USA. There are 2 types of bank accounts in the USA for international students i.e. savings accounts and checking accounts. Let us now discuss how these bank accounts are different from one another:

1. Savings account: As the word itself suggests, this is the type of account meant for long-term savings. This is suitable for you only if you are looking to save some money for future emergencies, traveling, etc. and deposits in this account will get you interest on your savings.
2. Checking account: This is the ideal account for international students that allows frequent deposit, withdrawal, and transfer of money. With a checking bank account, you will get a debit card as well as a checkbook using which you can withdraw money to meet your living expenses anytime you want.

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Working with international bank accounts is nothing different from other banks. Just like any other bank, you will get financial services which may vary for different banks.

There can be banks that offer more investment services while others whose services are directed towards commercial entities.

Every bank has a set of policies and procedures based on which they function.

The services for students include deposit, withdrawal, and usage of cards while banks provide multiple other services to businesses and organizations including letters of credit, payroll funding, time deposits, overdraft facilities, and more

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The minimum balance for an international student bank account in the US varies from bank to bank. What you need to know is that there is no upper limit on your deposits so you are free to choose the amount you wish to keep and to manage your spending. As for savings bank account for international students in the USA, the minimum balance ranges between INR 25,000 and INR 200,000.

The first and most important reason to have a bank account in the USA is to legally and safely pay for your tuition without having to worry about international transfers. Not only this, there are various other points in favor of having a bank account for international students in the USA, take a look yourself:

• It is the most secure way of managing your cash when you are in a different country living alone.
  
• This is the best way you can be responsible for your money and get better at wealth management.
  
• With an international bank account, you can carry out transactions in multiple currencies.
  
• Along with ease of transactions between countries, you will also get low exchange rates.
  
• Your bank will offer you multiple investment opportunities and help you explore various options.

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Here is a list of the best bank accounts for international students in USA:

1. Bank of America Advantage Banking
2. Chase Bank College Checking Account
3. Wells Fargo Student Checking Account
4. HSBC USA International Student Account
5. US Bank Student Checking Account
6. TD Convenience Checking
7. Key Student Checking
8. Capital One Money Account
9. Trust Student Checking Account
10. PNC Virtual Wallet Student Account

We have summarized all that you need to know about these banks to choose the best bank in the US for international students:

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Remember to consider the following factors while selecting the best bank account for international students in the USA:

Online banking facility: As an international student having an account in a bank that provides an online banking facility as well as a debit and credit card is essential. Given your class schedule, it is not always possible to go to the counter to avail of services.

Services offered: Banks in the US offer international students additional benefits such as cash bonuses, discounts, ATM fee waivers, overdraft protection, and more. While shortlisting the best bank for yourself you can consider these services as they will help you save money.

Branch and ATM facility: While searching various banks make sure that the one you choose has a branch and ATM facility surrounding your university or accommodation.

Extra service charges: Banks in the US often levy ATM charges if you withdraw money from another bank’s ATM. Also, there are certain service fees that banks charge every month so you can avoid having accounts in banks with high monthly fees.

When seeking the best international student bank account in the USA, it's crucial to prioritize key features for financial convenience. Opt for an account with minimal fees tailored to students, encompassing considerations like monthly maintenance fees, ATM charges, and wire transfer fees. Access to a widespread ATM network or fee reimbursements for out-of-network ATMs is beneficial for the ease of cash withdrawal. A robust online banking platform with mobile accessibility facilitates convenient financial management, and student-centric perks such as reduced fees and free checks add value. Investigate international wire transfer fees and procedures, ensuring favorable terms. Customer support quality and overdraft protection are also essential factors.

To get help in searching and sorting the best bank for international students in the USA, upgrade to 小优视频 Premium and get in touch with 小优视频 counselors today. You can book your personal session with one of our experts to guide you through the whole process of opening a bank account abroad as a student and navigate you through all the complexities that you might encounter.