10 Best Banks for International Students in the USA

Millions of students from all over the world come to the USA for higher education. One of the biggest concerns of these students is sound financial management since they are all alone in a new country, almost on their own. To make financial management easy and accessible to international students, it becomes essential to have a student bank account in one of the best banks for international students in the USA.  

Finding the right bank is important since it is the key to hassle-free financial management. However, the process of finding the right fit for yourself can be difficult, especially if you are doing it for the first time. To make your hunt for the best bank in the US for international students easier, we have curated a list of the seven best banks for international students in the USA. 

So, what makes a bank one of the best banks for international students in the USA? Here’s how to judge your banking options.

Benefits of Having a Student Account in the USA

First and foremost, having a student account in the USA ensures easy access to financial aid. Scholarships, scholarships, and student loans are all available, easing the burden of college tuition and living expenses.

By keeping track of your current account and using the tools for your best bank in the US for international students offers, you can develop financial habits that will help you throughout your academic career. Some of the best banks for international students in the USA offer special discounts on textbooks, electronics, and transportation. You may find yourself with free access to online courses, discounted gym memberships, or special events for students. These benefits enhance your college experience and foster a sense of belonging to a strong learning community.

How to Choose The Best Banks for International Students in the USA

If you are an international student in search of the best banks for international students in the USA that will be your best fit, this blog is for you. Finding the best bank in the US for international students is not an easy task. However, with the right kind of information and resources, the task can be rather simplified. Here are some facts that can help you choose the best banks for international students in the USA.

1. Bank Charges: Find out what charges your bank is going to charge you for opening a student account. The charges can include opening fees, maintenance fees, additional transactional charges, ATM charges, etc. Find out which banks have the lowest charges or if they are offering 0 maintenance fee accounts. 
2. Bonuses: The best banks for international students in the USA understand your struggle and thus offer cash bonuses to student account holders through cash backs, discounts, welcome deposits, etc. These can be a great aid to international students and help them through their academic years. 
3. Online banking or net banking: Going to the bank in person for every small transaction can be hassling for international students since they already have a lot to take care of. Online banking and net banking services are thus very important aspects of choosing a bank. Check out this guide which teaches you how to open a bank account in the USA.

Now that you know how to choose the best bank in the US for international students, here’s our list of carefully selected best banks for international students in the USA that might be your perfect fit!

Types of Bank Accounts for International Students in the USA

Choosing the right international student bank account in the USA can feel like deciphering an ancient scroll. Fear not, young scholar! This handy guide will equip you with the knowledge to navigate the financial landscape with confidence.

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1. Checking Accounts: Your everyday heroes, checking accounts let you deposit, withdraw, and spend money freely. Think debit cards, online banking, and those oh-so-satisfying ATM withdrawals (minus the occasional foreign transaction fee, so be mindful!). Many banks offer student-specific checking accounts with waived fees and bonus perks. Chase College Checking and Wells Fargo Student Checking are popular options.
2. Savings Accounts: Think of these as piggy banks for your future self. Savings accounts offer a safe haven for your money to grow with interest, ideal for long-term goals like travel or that snazzy new gadget. While access is slightly restricted compared to checking accounts, they're perfect for stashing away cash without the temptation to spend it all. HSBC International Student Account and Capital One 360 Checking are solid choices with decent interest rates.
3. Hybrid Accounts: Can't decide between the convenience of checking and the interest-earning magic of savings? Enter the hybrid account! These bad boys combine features of both, letting you access your money easily while still offering a little interest boost. US Bank Student Checking and TD Convenience Checking are good examples.

Best Bank Account for International Students in the USA

Landing in the USA as an international student is an exciting adventure, but navigating the financial landscape can feel daunting. Fear not, globetrotting scholar! Choosing the right bank account can be your financial superhero, easing money matters and letting you focus on conquering academics and exploring your new home. Buckle up, because we're about to dive into the world of student banking and uncover the perfect account to suit your international needs and budget.

1. Lorien Finance

If you are looking for the best bank in the US for international student accounts that can be opened from your home country so you can start using it as soon as you reach your new destination, Lorien Finance can be your perfect match. Lorien Finance specializes in private banking services, investment management, and wealth advisory. Consider their reputation, personalized financial solutions, and customer reviews when choosing them as a banking partner. Opening a student account with Lorien Finance is easy and quick as it doesn’t require any special security number. All you need to open an account are your passport, visa copy, and university acceptance letter. With 0 minimum required balance and no charges on debit card swipes or foreign transactions, Lorience Finance has become one of the best banks for international students in the USA.  

Charges: Specific charges for Lorien Finance's services can be obtained by contacting them directly or visiting their website, as the fees may vary based on the services and products availed.

Documents required: Generally, you will need to provide identification documents such as a valid passport or driver's license, proof of address (e.g., utility bill or bank

statement), and possibly additional documents based on your specific banking needs.

2. Swadesh 

Like to get things done as quickly as possible? Swadesh can match your standards with its lightning fast onboarding process. Swadesh is a community-focused bank that aims to serve diverse populations. Consider their personalized customer service, various banking products and services, and branch accessibility when evaluating Swadesh as a banking option. With Swadesh, you can open a secure, reliable account in under 3 minutes! Opening an account with Swadesh requires no paperwork and thus can be opened from your home country. With complete digital services, Swadesh has successfully eradicated the need for in-person branch visits, making the best bank for international students in the US. However, the swiftness of Swadesh doesn’t mean a lack of security. All the Swadesh accounts are insured, and your personal information is encrypted by 256-bit bank-grade encryption! So, make the most out of one of the best banks for international students in the USA and avail yourself of the benefit of a smooth banking experience. 

Charges: Including a free US FDIC insured checking account, a free credit card with no interest rate, collateral, or fees, and a free AT&T SIM card with cost-effective plans for communication. 

Documents required: Commonly required documents include a valid identification document (e.g., driver's license or passport), proof of address, and possibly additional documents depending on the type of account or services you are applying for.

3. Bank of America 

Bank of America is one of the largest banks in the United States, offering a wide range of banking services and products. Consider their extensive branch and ATM network, digital banking features, customer service, and various account options when considering Bank of America. With one of the lowest minimum balance requirements and 0 maintenance fees, Bank of America is one of the best banks for international students in the USA. The bank offers online and net banking services making your best bank for international students in the US experience hassle-free. Bank of America also offers other services and benefits like easy locking and unlocking debit cards in case you lose them, insured accounts, a 0% liability guarantee, etc. 

Charges: Bank of America's charges may include monthly maintenance fees, overdraft fees, ATM fees, wire transfer fees, and other transaction-related charges. 

Documents required: Generally, to open an account with Bank of America, you will need to provide a valid identification document, proof of address, social security number, and possibly additional documentation based on the type of account or services you are applying for.

4. Chase Bank College Checking Account

Chase Bank's College Checking Account is designed specifically for students and is one of the best banks for international students in the USA. Consider the account's features like no monthly service fee, access to mobile banking, special discounts, and the availability of Chase branches and ATMs near your college campus. Chase Bank, USA offers a special college checking account that lets international students open the best bank account for international students in the USA with 0 maintenance fees during the five years of their college. The account can be opened by anyone between the ages of 17 and 24 with enrolment in US universities. The minimum deposit balance required for the account is also very low to make it more accessible to students. As you open your account with Chase Bank, you also receive a signup bonus of $100 USD. With all such benefits, Chase has become one of the best banks for international students in the USA. 

Charges: The College Checking Account from Chase Bank does not have a monthly service fee for up to five years while enrolled in college. However, other fees, such as overdraft fees or out-of-network ATM fees, may apply. 

Documents required: Typically, to open a Chase Bank College Checking Account, you will need to provide a valid identification document, proof of enrolment or acceptance at a college or university, and other personal information required for account opening.

5. Wells Fargo

With many benefits, security and seamless services, Wells Fargo makes it to our list of best banks for international students in the USA. The best bank for international students in the US offers student accounts to applicants between the ages of 17 to 24 with 0 maintenance fees. The minimum deposit required for the best bank for international students in the US is also as low as $25 and thus is a great option for international students. Wells Fargo offers a mobile app to their account holders for a more seamless and integrated banking experience. The additional benefits of having the best bank account for international students in the USA Wells Fargo include secure banking with 24/7 fraud monitoring and chip technology.

Charges: Wells Fargo's charges may include monthly maintenance fees for checking and savings accounts, ATM fees, overdraft fees, wire transfer fees, and other transaction-related charges. The specific charges may vary based on the type of account and services availed.

‍Documents required: When opening the best bank account for international students in the USA with Wells Fargo, you will typically need to provide a valid and current photo ID (such as a driver's license, state ID card, or passport), a Social Security card or number, and cash or a check to deposit into your new account.

6. HSBC USA 

Considering HSBC USA's international presence, global banking services, online and mobile banking capabilities, and their focus on offering a range of financial solutions to individuals and businesses is one of the best banks for international students in the USA. Consider Wells Fargo's extensive branch and ATM network, online and mobile banking services, a wide range of financial products and services, and their reputation as one of the largest banks in the United States. HSBC USA student accounts require a minimum balance of only $25 USD. However, you also receive a welcome deposit worth $100 USD. The best bank account for international students in the USA also offers student accounts with 0 maintenance fees for up to 6 years to students above the age of 18. 

Charges: HSBC USA's charges may include monthly maintenance fees, ATM fees, wire transfer fees, foreign transaction fees, and other account-related charges. The specific charges may vary depending on the type of account and services chosen. 

Documents required: Generally, when opening an account with HSBC USA, you will need to provide a valid identification document (such as a driver's license or passport), proof of address (e.g., utility bill or bank statement), and other documentation as required based on your specific banking needs.

7. US Bank 

Another bank for international students in the US that makes it to our list of best banks for international students in the USA is the US Bank. Consider US Bank's wide range of banking products and services, their extensive branch and ATM network, online and mobile banking capabilities, and their commitment to customer service and community involvement. The best bank in US for international students is one of the most popular and best banks for international students in the USA community since it offers many perks and benefits to account holders. You can avoid paying any maintenance fees for your best bank account for international students in the USA by simply not opting for paper statements. The account also requires no minimum balance, and the initial deposit is as low as only $25 USDs. Other benefits include free US bank transactions, online banking, and free access to your credit scores for better credit management. Also, check out this blog to understand how to open a bank account seamlessly.

Charges: US Bank's charges may include monthly maintenance fees for checking and savings accounts, ATM fees, overdraft fees, wire transfer fees, and other transaction-related charges. 

Documents required: When opening an account with US Bank, you will typically need to provide a valid identification document (such as a driver's license or passport), proof of address, and possibly additional documentation based on your specific banking needs. 

8. TD Convenience Checking

TD Convenience Checking is the best bank account for international students in the USA offered by TD Bank It provides convenient banking options with low minimum daily balance requirements. The monthly maintenance fee for this account is waived if the primary account holder is between 17 and 23 years of age. However, upon the primary account holder's 24th birthday, the account will be subject to the monthly maintenance fee unless the minimum daily balance is maintained. The convenience of having both a checking and savings account with the same bank makes it the best bank account for international students in the USA. Additionally, TD Convenience Checking offers benefits for students, such as waiving the monthly maintenance fee for account holders between 17 and 23 years of age. With TD Convenience Checking, customers can enjoy features like TD Bank Mobile Deposit, which allows them to deposit checks using a supported iOS or Android device with a camera. Additional services such as Send Money with Zelle and Visa's Zero Liability Policy are also available.

Charges: TD Convenience Checking's charges may include monthly maintenance fees, ATM fees, overdraft fees, and other transaction-related charges.

Documents required: When opening a TD Convenience Checking account, you will typically need to provide a valid and current photo ID (such as a driver's license, state ID card, or passport), a Social Security card or number, and cash or a check to deposit into your new account.

9. Key Student Checking

Key Student Checking is a banking account designed specifically for students. Offered by KeyBank, it provides tailored features and benefits to meet the financial needs of students. Key Student Checking is specifically designed for students and offers features such as no monthly maintenance fees, no minimum balance requirements, and access to online and mobile banking services. It's important to consider KeyBank's branch and ATM network, their customer service, and any additional benefits specifically tailored to students. Key Student Checking accounts may offer benefits like no monthly maintenance fees, no minimum balance requirements, and access to online and mobile banking services, making it the best bank for international students in the US.

Charges: Key Student Checking typically does not have monthly maintenance fees, but there may be charges for certain services or transactions, such as ATM fees or overdraft fees.

‍Documents required: To open a Key Student Checking account, specific document requirements may vary. Generally, you will need to provide a valid identification document, proof of address, and possibly additional documents depending on your age and specific circumstances.

10. Capital One MONEY Account

The Capital One MONEY Account is a banking solution designed to help teens and young adults manage their money effectively. Capital One MONEY Account is designed to help teens and young adults manage their finances effectively. Consider the features and benefits offered by Capital One, such as financial education tools, access to online and mobile banking, and the ability to set savings goals. This account offers a range of features and tools to promote financial literacy and responsible money management. With the Capital One MONEY Account, users can access online and mobile banking set savings goals, track spending, and receive real-time notifications. This account aims to empower young individuals to develop healthy financial habits.

Charges: Capital One MONEY Account may have specific charges associated with certain services or transactions, such as ATM fees or overdraft fees.

Documents required: The specific document requirements to open a Capital One MONEY Account may vary. Generally, you will need to provide a valid identification document, proof of address, and possibly additional documents based on your age and specific circumstances.

How Do International Bank Accounts Work?

Feeling lost in a sea of textbooks and equations? School can be tough, but don't worry, you're not alone. Many students face challenges at some point in their academic journey. The good news is that there are plenty of things you can do to get back on track and turn that frown upside down.

1. Seek Help: First and foremost, remember that you don't have to go it alone. Your teachers are there to guide you, so don't hesitate to reach out if you're confused about a concept or need extra practice. Most teachers are happy to offer extra help during office hours or after class. You can also form study groups with classmates to tackle tough subjects together.

2. Find Your Learning Style: Not everyone learns the same way. Some students thrive in traditional lecture settings, while others may do better with hands-on activities or visual aids. Experiment with different study techniques to find what works best for you. Whether it's flashcards, mind maps, or practice problems, discover what makes the information stick.

3. Create a Supportive Environment: Setting up a dedicated study space free from distractions can make a big difference. Find a quiet corner in your room or library with good lighting and minimal clutter. Having a comfortable chair and all your study materials at hand will help you stay focused and avoid procrastination.

4. Take Care of Yourself: Remember, you're not just a brain on a stick! Getting enough sleep, eating healthy foods, and exercising regularly are all crucial for optimal learning. When you're well-rested and energised, you'll be able to concentrate better and retain information more effectively. Don't forget to schedule breaks for yourself to avoid burnout. Take a walk, listen to music, or do some deep breathing exercises to de-stress and come back to your studies feeling refreshed.

Finding the best American bank for international students may not be the easiest task in the world, opening a student bank account effortlessly and an international student banking guide is possible. The best way to decide which is the best bank in the US for international students to choose is to list out your expectations and requirements first and then find the best bank account for international students in the USA that is the most compatible with you. We hope our list of banks makes your journey easy. and to make your journey easier, you can check these student accommodations in USA provided by us at pocket-friendly prices. Happy Hunting!