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As there are expenses that must be met immediately upon your arrival in the U.S., we recommend that you bring a major credit card for use in purchasing linens and/or other items for your room. Do not carry large sums of cash with you. A few U.S. banks have branches in foreign countries. These should be used if the U.S. bank is located within the vicinity of the College. If not, all large U.S. banks have what are called "correspondent" foreign banks with which they have established financial connections. A transfer of money from one correspondent bank to another requires obtaining a draft from the home bank and presenting it, with personal identification, to the U.S. bank. The U.S. bank will then give credit in U.S. dollars. You may also request that your bank at home "wire" money to you once you have opened an account at a bank in ��Ӱֱ��.

Some factors to consider when deciding whether and where to open a bank account:

• Location/convenience

• Personal banking patterns (e.g., you tend to use a bank branch to cash checks or you make deposits via mail or ATM)

• Check to see if the bank offers a remote-deposit app so you can use a smartphone or laptop for depositing checks

• Fees associated with opening and/or maintaining the account

• Fees associated with accessing your account from the ATM you expect to use most often

• Fees associated with transferring money from one account to another

• Fees associated with overdraft protection services

• Minimum opening or ongoing balance requirements

• Interest earnings potential

Here is a list of banks close to campus:

• Bank of America, 646 W. Lancaster Ave., ��Ӱֱ��, PA 19010, 610-542-5085. 
• BB Truist, 101 S. ��Ӱֱ�� Ave., #101, ��Ӱֱ��, PA 19010, 610-525-8500. 
• ��Ӱֱ�� Trust Company, 801 W. Lancaster Ave., ��Ӱֱ��, PA 19010, 610-687-4268. 
• Citizens Bank, 733 W. Lancaster Ave., ��Ӱֱ��, PA 19010, 610-649-3101 Firstrust Bank, 725 W. Lancaster Ave., ��Ӱֱ��, PA 19010, 610-519-2265. 
• Santander Bank, 44 N. ��Ӱֱ�� Ave, ��Ӱֱ��, PA 19010, 610-525-3270.  
• TD Bank, 401 Lancaster Ave., Haverford, PA, 19041, 610-649-2188. 
• Wells Fargo Bank, 1200 E Lancaster Ave., ��Ӱֱ��, 19010, 610-520-5121

Important Bank Terms

Checking Accounts: These accounts allow you to purchase things and pay bills by writing checks or using online banking and bill pay. Most retailers and service providers will accept a personal check drawn on any US bank as long as you can show appropriate identification (passport, student ID, or driver’s license). Most checking accounts do not pay interest. When looking for a checking account, it is important to find out any fees the bank imposes, such as overdraft fees.

Savings Accounts and/or Money Market Accounts: These accounts allow you to earn interest on the balance in the account. You can deposit and withdraw money from these accounts without penalty. It is common that these accounts have a minimum balance requirement. Money Market accounts usually pay higher interest than a regular savings account, but also have a higher balance requirement. Although many Money Market accounts now offer check writing privileges, you are typically limited to six transfers or withdrawals per statement cycle.

Debit/Check Card: Also called a debit card allows you to withdraw or deposit money into your bank account using an automatic teller machine (ATM) and to make purchases at stores that accept the card. Some have credit card logos on them (Visa, MasterCard, etc.) that allow you to use the card in place of a credit card or check, however, they are not credit cards and are therefore limited to the amount of money that you have in your account. When using a debit card, you will be asked whether you would like “debit” or “credit” in your transaction. When choosing “debit” you will be asked to enter your PIN# and the money will come out of your account same day. When choosing “credit” it can take a few days for your money to be withdrawn.

Credit Card: This card allows you to make purchases when you do not have money readily available. You are billed every month and expected to make at least minimum payments on your balance each month. If you do not pay the entire amount due, interest will be added to the unpaid balance. It pays to shop around when choosing a credit card as some have higher interest rates and annual fees than others. Credit cards can be convenient, but it is important to be careful not to spend more money than you can afford.

International wiring: sending money from one banking institution/country to another banking institution/country. This can be done electronically by the international bank sending the money. The money would be authorized by the sender to be sent and received. The proper account numbers and bank identifier number (routing or ABA number) will be provided by the receiver. All wire transfers will be credited to the receivers account within 24-48 hours.

Money Order: These accounts allow you to purchase things and pay bills by writing checks or using online banking and bill pay. Most retailers and service providers will accept a personal check drawn on any US bank as long as you can show appropriate identification (passport, student ID, or driver’s license). Most checking accounts do not pay interest. When looking for a checking account, it is important to find out any fees the bank imposes, such as overdraft fees.