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Money and Banking

Money and Banking

Bank Accounts

It is best to open a bank account as soon as possible after you arrive in the U.S. To open a bank account, you will need two forms of identification (such as a passport or driver's license) and your first deposit.

Important:

  • Please do not bring large amounts of cash to the U.S. Cash can be easily stolen. Carry only enough cash for your journey and a little extra for your first few days. Plan to withdraw money using an ATM card after you arrive, carry traveler's checks or have money wired to you.
  • Most banks will not cash foreign checks unless you have an account with the bank.
  • Many banks are unable to cash checks unless they are in U.S. dollars.
  • Foreign checks often require four to six weeks for the funds to become available. During that time you will not be able to use that money.
  • Tuition payments are required upon registering for classes. 

Wiring Money From Overseas
Since most expenses associated with starting college require immediate payment, you should arrange to transfer funds to a bank in the Virginia/Washington, D.C. area as soon as possible. Transfers may take up to one week to be processed and require a fee(s). 

Paying for College
You may pay tuition using various methods including cash, check, credit card, money order or wire transfer