BANKING
Banking, cards and money transfers
Open an account in week one, use cards correctly and start building U.S. credit history from your first year.
Opening an account — do it in week one
Bring to the branch
- Passport + F-1 visa
- I-20 and a printed I-94
- Student ID (Bobcat Card)
- U.S. address (lease or housing assignment letter)
- Cash for the opening deposit (usually $25–$100)
Choosing a bank
- Pick a bank with branches/ATMs near campus to avoid withdrawal fees
- Ask specifically for the student checking account — usually no monthly fee
- No SSN needed for checking (most banks accept passport + I-20)
- Turn on transaction alerts in the app to catch fraud early
Card types and how to use them
| Card | What it is for | Notes |
|---|---|---|
| Debit card | Spends directly from checking — everyday use | Issued when you open the account; builds no credit |
| Secured credit card | Credit card backed by a deposit — for people with no credit | The standard way to start a credit history after 3–6 months |
| Student credit card | Credit card designed for students | Requires an SSN; low limit, basic cashback |
| Bobcat Card (student ID) | Meal plan, halls, library, shuttle, printing | Not a bank card |
| Home-country Visa/Mastercard | Temporary use in week one | 2–3% foreign transaction fees; not for long-term use |
Why credit history matters
Your credit score affects renting an apartment, car insurance rates, phone contracts and later buying a car or home. International students start from zero — the earlier you begin, the better.
Building credit from year one
- Months 1–3: open checking + debit, keep a positive balance, avoid overdraft fees
- Months 3–6: apply for a secured credit card ($200–$500 deposit)
- Put small recurring charges on it (subscriptions, groceries) and pay the FULL balance on time
- After 6–12 months: the bank upgrades you to a regular card and refunds the deposit
- Golden rules: stay under 30% of your limit, never pay late
Transferring money from home
Bank wire transfer
Family sends through a home bank under the study-abroad category (I-20 and admission letter required). Safe for large sums like tuition; fees and rates vary.
International transfer services
Better rates and faster for monthly living costs. Always use licensed, regulated providers.
Pay tuition directly
TXST has a tuition payment portal; many families pay the university directly rather than routing money through the student account.
Frequently asked questions
Can I open an account without an SSN?
Yes. Most banks open checking with a passport + I-20 + U.S. address. An SSN is only needed for regular credit cards or to be paid by an employer.
How much cash should I bring?
About $300–$500 for the first days before your account is active. Amounts over $10,000 must be declared at customs.
What are Zelle and Venmo?
U.S. peer-to-peer payment apps used to split rent and food costs. Only use them with people you know.
How long until I have a credit score?
Usually about six months of regular credit card use. That is why opening a secured card early matters.
Prepare your finances before departure
The International Office guides you through proof of funds, tuition transfers and a week-one banking checklist.