Transferring Funds to the United States
Bring enough money to meet the initial costs of getting to campus and at least one month’s expenses. (See Chapter 1.) Traveler’s checks are the safest way to carry money, but be sure to record the check numbers and keep the record separate from the checks. Do not carry large amounts of cash.
You will need to transfer larger amounts of money for your expenses for the year. Several options exist, and you should check with your institution and your bank to discuss the solution that best suits your situation. You should learn whether your country has restrictions on sending money abroad.
The best ways to carry or transfer money are:
Traveler’s checks (in U.S. dollars)
A bank check (also called a cashier’s check) drawn on a U.S. bank in U.S. dollars
A “wire transfer” from your bank at home to your new institution (if you are paying a bill) or to a U.S. bank
Avoid checks in U.S. dollars drawn on a foreign bank. Such checks take much longer to “clear” than do checks drawn on U.S. banks or even checks in your home currency drawn on a bank at home. Remember that until a check clears, you will not have access to the money it represents.
[Managing your money] [Opening a bank account]
[Table of Contents]
Comments»
no comments yet - be the first?