Office of International Education |
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It is advisable that you bring some cash in U.S. dollars with you, for incidentals that may come up. However, do not bring a large amount of cash (more that $100). Traveler's checks are accepted virtually everywhere and can be refunded if lost or stolen. Cash cannot be replaced. Keep your money with you at all times, and do not show anyone how much money you have; BE DISCREET. Also, be sure that funds from your home country's bank can be transferred to the United States. Once here, you will be able to open a bank account and have funds transferred directly into it. Types of Accounts Checking Account - A checking account is the most convenient, practical way to handle one's finances. A checking account is for frequent use, and there is usually a small charge for checks. Plan options and costs differ from bank to bank. Savings Account - A savings account may be desirable if you have brought a large sum of money and would like to earn interest. Withdrawals are limited from this type of account. Two pieces of identification are generally required, i.e., student I.D. and passport to open a bank account. Overseas Transfer of Money Most banks can receive an overseas bank transfer. Most banks limit this service to their customers. Ask the bank what the best way is to transfer money from overseas, what the procedure is and how much your account will be charged for each wire transfer. Find out what is the correspondent bank for Richmond. Ask the sender of the funds to send the money through the correspondent bank (this will save time). There is no bank on the University of Richmond campus. There are several banks within walking (20-25 minutes) and driving distance (5-10 minutes) of the University. First Market Bank does have an automated teller machine (ATM) on campus in the Tyler Haynes Commons Building. For this reason most students have checking accounts with First Market Bank. They will be on campus during the first-year orientation to set up checking accounts for students. For more information on checking accounts, students can write to:
Other banks within walking distance of campus:
Bank of America - 281-5840; 5707 Patterson Avenue The sender should be very specific when sending funds: name and address of receiver, telephone number, name of bank in Richmond with account number. |
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Office of International Education | University of Richmond VA 23173 | Phone 804-289-8836 | Fax 804-289-8904 |
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