Once you have arrived in the United States, you will need to open a bank account. Banks in the U.S. offer many kinds of financial services, including:
There are many words and phrases unique to the banking industry. If you do not understand a word, you can look it up.
Several banks and credit unions are located on or near the IU campus. The Greater Bloomington Chamber of Commerce has a list of local banks.
See a list of banks in Bloomington
Opening a bank account is like entering a contract. Be sure to read everything and ask questions if anything is not clear to you.
There are requirements you will need to fulfill before you can open an account.
When you go to the bank to open an account, bring the following items:
U.S. financial institutions are required to verify the identity of every person who opens a bank account in order to prevent fraud like money laundering.
Banks must obtain the following information from you before allowing you to open an account:
Each bank has its own customer identification program and may ask for documentation in addition to what we have listed.
If you have already applied for a Social Security number before you try to open a bank account, you should take a copy of the receipt notice with you. It can serve as additional documentation to help establish your identity. As soon as you receive your SSN, inform your bank.
When you need cash from your bank account, you have two options—visit the bank during operating hours, or use an automatic teller machine (ATM). Your financial institution can tell you if there is a charge for using ATMs.
