| |
Go at anytime in the bank of your choice,
It will take less than 30 min
You may obtain a check card or credit
card within 2 weeks.
You will receive check book at the
same time you open your check account.
Document needed :
|
•
your social security number
|
|
•
your passport
|
|
•
you driver license (home country or international)
|
|
•
first cash deposit, minimum between 25-100$
|
How
to apply
You only need to know the type of account
you are willing to open.
 Top
General information
Note that most of the banks ask for a minimum
deposit to avoid monthly fees, you can be limited to a certain
number of monthly checks, if you exceed this number you can
be charged around 75 cents per additional check made.
| Economy Checking |
Minimum to open 100$ , up to 7 checks
and other withdrawals, monthly maintenance fee around
6$ |
| Regular checking |
Minimum to open is usually 100$, to
avoid a monthly maintenance fee you will need a daily
balance of 750$, unlimited monthly checks ,if not you'll
have to pay a 10 to 15$ monthly maintenance fee…
|
| Student checking |
Minimum to open 25$, to avoid monthly
fee need a monthly balance of 500$, otherwise monthly
maintenance fee around 6$ |
| Interest checking |
Minimum to open 100$ , to avoid monthly
maintenance fee minimum daily balance 1500$,unlimited
monthly checks, otherwise maintenance monthly fee around
14$.
|
| Custom savings |
Minimum to open 100$, one withdrawal
each month free, after one you'll be charged 2 to 3$ each
additional withdraw, to avoid a monthly maintenance fee
need a daily 1000$ minimum balance, otherwise monthly
maintenance fee around 5$. |
| Regular savings |
Minimum to open 100$, minimum average
daily balance to avoid monthly fee maintenance 300$, if
not monthly maintenance fee around 5$ |
| Seniors Accounts |
Those types of account are usually for people over
55 years old, you get lots of advantages:
|
•
Second checking account with no monthly fee
|
|
•
Free safe deposit box
|
|
•
Free transfers for overdraft protection
|
|
•
Unlimited check-writing privileges
|
|
•
No-Fee traveler's checks (single signature)
|
Get preferred rates:
|
•
Preferred rates on Certificate Deposit "CD's"
|
|
•
Preferred rates on loans and lines of credit
|
|
•
Discounts on Visa or Master Card
|
Save time:
|
•
No-Fee checkCard to use for purchases
|
|
•
Free telephone balance inquiries and transfers
|
|
•
Special ID card identifies you as a preferred
customer
|
How to qualify for this Senior program without paying
monthly fees?
|
•
Use balance in one checking, Regular Savings or
Custom Savings: 5,000$
|
|
•
Use balances in a single CD or Money Market Savings:
10,000$
|
|
•
Choose to pay a monthly fee of about 20$/months
|
|
| Regular Savings |
Earn interest while setting aside cash
for emergencies; use savings balances to avoid a monthly
checking fee...Minimum to open usually 100$, to avoid
monthly fee , keep a 500$ minimum daily balance. |
| Money Market Savings |
Earn higher interest rates on higher
balances.Earn Money Market Rates.Minimum to open 2500$,
to avoid monthly fee, keep a 2500$ minimum daily balance
or a 5000$ average daily balance... |
| Certificate Deposits "CD's" |
Short-term Period between 1 to 4 weeks
|
•
Earn interest without tying up your cash for a
long term
|
|
•
The more you deposit , the higher the interest
rate
|
|
•
The choice to whether reinvest your earnings or
receive them as income
|
|
•
Interest paid at maturity, no compounding
|
|
•
Minimum to open 15,000$
|
Longer-Term Period 4 weeks to 10 Years
|
•
Earn higher interest by choosing a longer term
|
|
•
The more you deposit the higher the interest rate
|
|
•
Choice of whether reinvesting your earnings or
receive them as incomes
|
|
•
Interest compounded and credited monthly
|
|
•
Minimum to open 1000$
|
|
Top
General information
They usually come by "check book
", you can count around 20 Checks...In the States checks
aren't acceptable everywhere it depends on the shopping with
proof of identification...Besides that checks can be called
off at anytime by calling your bank.
On the monthly balance sheet you'll receive; there is a page
with a picture( a scan  )of
all the checks you've made. So that allows you to make sure
you made the check (look at the signature) and the amount
you paid...!!
And again pay attention to the number of checks you are making
because depending on the account you've chosen , you can be
charged around 75 cents per additional checks made!
Top
|
| Check
Card :
|
|
General information
Check cards are given to anyone that opens an
account. A check card looks like a Credit card but it's mention
"Check card" on it. That means you can use
your checking account to make purchases without writing a
check:
-Maximum withdrawal per day usually 400$ per day (the
amount can be negotiable).
-Withdrawal operated straight to your account.
-You won't be able to go below the "red line" below
"0".
Advantage is that : each time you withdraw money you
are limited to your account amount. You won't be able to withdraw
when the "0" amount is reached. If you card is stolen
you can't lost more than 400$/day.
Disadvantage is that: if you are willing to purchase
for instance a TV at 700$, you can't do it with a check card,
you are limited to 400$ !
Cash withdrawing, from ATM (Automatic Telling Machine) will
sometimes be charged if the ATM is outside the ATM network
of your bank, pay attention to that !
It'll take around 12 Days to get your Check Card by mail...The
same period for your Credit Card.
Top
General information
The Credit Card will not always be given to you,
if you don't show proof of working or regular incomes every
month and it depends on your length of stay in the US.
A credit works like every credit card. You can go below "0"
depends of how much money your bank lends you.
For instance you have an income of 40,000$ per year, with
your credit card you might be allow to go to 8,000$ below
"0", because the bank knows you are getting a monthly
salary. Once you are below "0" , you'll have to
pay monthly interest rates on the money the bank lent you.
Off course the higher your incomes are the lower interest
you'll have to pay!!!And with higher incomes you'll get a
higher "lower limit" because you'll be given more
important credit card such as: Platinum or gold card...
Cash withdrawing, from ATM (Automatic Telling Machine)
will sometimes be charged 1$ if the ATM is outside the ATM
network of your bank, pay attention to that !
If any problems occur with the ATM machines here are the phones
numbers of the 2 main companies you'll need to contact :
| •
"CIRRUS" affiliated to VISA |
1-800-424-7787 |
| •
"PLUS" affiliated to Master Card |
1-800-843-7587 |
How to Apply for a Credit card
|
•
Be at Least 18 Years old
|
|
•
Have a US address
|
|
•
Have never filed for bankruptcy
|
|
•
You will open a Bank of America savings
account with at least 300$ today
|
|
•
Have paid your previous Bank of America
obligations as agreed
|
|
•
Have a Social Security Number or a W-8
form or a Work Visa
|
|
•
Do not have any delinquent obligations
at the present time
|
What questions you will
have to answer filling out the Form ?
|
•
First and Last name
|
|
•
Complete address
|
|
•
Work and Home phone number
|
|
•
Are you a US citizen or a Permanent resident in the
US?
|
|
•
Gross Household Income (monthly/annual)
|
|
•
Monthly payment (rent/mortgage)
|
|
•
Type of account Visa or Master card
|
|
•
CO-applicant's information
|
|
•
Do you want a free additional card?
|
|
•
Optional payment Protection Plan
|
|
•
Signatures for Agreement
|
Fees and Rates that you
will usually encounter
| Annual Fee |
None
|
| Annual Percentage Rate (APR) |
Around 5.9%
|
| Variable Rate Information |
After the introducing
period the APR will equal the prime rate as listed
in the Money rates section in the Wall Street Journal
plus a margin between 6% and 11%. If anytime you fail
to keep your account in good standing the APR will
be based on the Prime Rate plus 13 percentage points,
adjustable quarterly, with a 19.8% minimum.
|
| Balance Computation Method for Purchases |
Average Daily Balance
|
| Grace Period Of Purchases |
25 Days from Billing date when
balance is paid in full each month
|
| Minimum for Purchases |
50 Cents
|
Note: Those information vary a lot and
may not be the same in every Bank around the USA, we are
just giving you the minimum information you should be aware
of...
If you lose your Credit card call toll free:
*Note: to activate your card, you must first use the
card with your personal identification number (which you usually
choose by yourself at your bank!) PIN at any ATM
Top
A small selection of banks you
can find in United-States.
National Banks:
International Banks:
Banks Information all around the States:
|
|
|
|
|
| |
 |
FinAid! |
|
Bank
Rate Monitor |
| |
|
For parents and students,
explains all types of aid to figure out how to pay scholarship |
|
Updated daily with bank
rates and news,information on credit cards, auto loans,home
equity and banking... |
| |
|
Banx
Quote |
|
|
| |
|
This site offers daily rates
on auto loans, mortgages ,life insurance, credit cards... |
|
|
|
|
|
|
|
Top
|
