Where to Begin? 

While a small percentage of the U.S. population manages without checking accounts, virtually all professionals utilize the services of a bank. Your employer will pay you in the form of a check, which may either be cashed or deposited into a bank. Ordinarily, to avoid unnecessarily carrying around large amounts of cash, most employees deposit the paycheck into a checking account established with the local bank of their choice. Once the paycheck is deposited into the checking account, most, if not all, ordinary expenses are paid through personal checks drafted on that account. For example, your monthly rent, telephone bill, and electric bill can all be paid with personal checks. This is significantly cheaper and easier than purchasing money orders for payment of routine bills. Savings accounts are used by many individuals who seek to retain a portion of their earnings, that is, to save whatever money that have not expended on living expenses. Savings accounts usually pay interest, while most checking accounts do not. Accordingly, it may be best to transfer amounts to savings as they become available. Of course, you always have access to the money you have placed in either a checking or savings account.

While ordinary transfers of funds in your checking accounts are made through personal checks, cash disbursements through automatic teller machines are also available in the United States, day or night. Ordinarily, your bank will issue you a small plastic card (called a "debit card" or "teller machine card"). This card will allow you to access, with your personal secret code, your checking account, through any back-operated teller machine or an affiliated network. For example, if you bank at ABC Bank, you will be able to access your account through any ABC Bank teller machine, regardless of location. If your bank belongs to an automatic teller machine (ATM) network, you may access your account through any ATM Machine on that network. HONOR, for example, is a network of affiliated banks with ATM's on the same computer line. You may access your ABC Bank account located in your place of residence from any other HONOR ATM located in the United Sates. For specific information regarding ATM availability and usage, ask your banking representative.

OPENING AN ACCOUNT:

Most banks require a social security number to open a personal checking account. Since your employer will require the number, you will need to get one as soon as possible after you arrive in the U.S..

When you are ready to open a bank account, you should ask your Buddy, or other colleagues at work, which banks they have used and prefer. U.S. banks operate under strict federal guidelines and the deposit of funds with U.S. banks is essentially risk-free for most U.S. workers. Once you have selected your bank, you should visit the office and meet with the Customer Service Representative. This person may also be called the New Accounts Representative. Explain to them that you are a foreign worker currently relocating to the United States and that you need to open a checking (and, possibly, a savings) account with their institution. The bank officer will guide you through the appropriate paperwork, obtain your signature, and assist you in making an initial deposit to the account. He or she will provide you with a temporary checkbook, which may be utilized while your printed, personalized checks are en route. (NOTE: Temporary checks, since they lack your name and address, are often rejected by merchants. You may want to defer purchase of clothing, household furnishings, etc., until your printed checks arrive in the U.S. mail, usually 1 to 2 weeks.) Of course, you will be able to shop with cash which you may withdraw from the account at any time.

Many foreign workers in United States seek to send money home to help support their families. This can be accomplished by a variety of methods, and extreme care should be taken when doing so. The best rule is to contact other nationals of your country who have successfully transferred money home in the past; chances are they will have a reputable agent or representative who can assist you. Western Union, if available in your home country, is perhaps the cheapest and most efficient way to transfer money. Bank wire transfers, if your relatives have accounts open back home, are also viable and secure. NEVER, NEVER, NEVER, NEVER, send U.S. dollars or cash (in any currency) through the U.S. or international mail. In the U.S., it is unlawful to mail cash, and you have absolutely no recourse if the envelope vanishes. It is equally dangerous and prohibited to send cash via international couriers such as DHL, Federal Express, etc. If bank transfers and Western Union are unavailable in your home country, chances are private agencies exist for such transfers. Make sure that you deal with someone reputable . . . it may be best to send a small amount of money on an experimental basis, at least initially. Once your family has confirmed receipt, you can send larger sums through that agent. (TIP: Bear in mind that U.S. long distance rates are cheaper than long distance rates in virtually any other country; confirm this before proceeding, but it would usually be more advisable for you to call home than for your family to call the United States.)