Everand Logo

Welcome to Everand!

  • Discover millions of ebooks, audiobooks, and so much more with a free trial

    Only $11.99/month after trial. Cancel anytime.

    MMG Guide to Banking Basics for International Students
    MMG Guide to Banking Basics for International Students
    MMG Guide to Banking Basics for International Students
    Ebook104 pages4 hours

    MMG Guide to Banking Basics for International Students

    By Melissa Newton

    5/5

    ()

    Read preview

    About this ebook

    As an international college student, take the worry out of navigating the U.S. banking system. The MMG Guide to Banking Basics for International Students gives you the steps to find a bank, manage your accounts, and tap into other facts you need to know about banking and money.

    Written in a question and answer format, you can read the guidebook in one sitting, skip to topics of interest, or come back later for a refresher. Learn what documents you need to open a bank account to tips on using debit cards and saving on bank fees. With your banking knowledge, you can feel empowered to achieve your money lifestyle goals as a student.

    LanguageEnglish
    PublisherMelissa Newton
    Release dateAug 20, 2015
    ISBN9781310257735
    MMG Guide to Banking Basics for International Students
    Author

    Melissa Newton

    Hi there! I appreciate you are taking a few minutes to get to know about me. I've enjoyed a fascinating journey of learning and experiences over the years. Since publishing my Smashwords books, I have moved on from writing about banking and personal finance. However, I have chosen to keep these works alive in the digital world. I have been writing since my college years and have so enjoyed the world of writing, books, and publishing since that time. During my corporate years in banking and personal finance, I liked sharing financial knowledge to empower consumers to make better money decisions. In addition to giving educational workshops, working with the Federal Reserve Bank of Chicago with MoneySmart Week, I wrote and published books in the personal finance genre, some of which are available here on Smashwords. I also thrived in my side-gig as a managing editor and publisher of several digital magazines, i.e., a literary magazine for women and then later a personal finance magazine. I was definitely a busy person during my corporate years! However, I consider myself lucky to follow new dreams in the latter part of my career. It was in 2014 that I said goodbye to the corporate world to follow my passion for writing, research, ghostwriting, publishing, and nature photography full-time. Below is my formal profile that I now have on LinkedIn. You can also visit my personal website at MelissaNewton.com to learn more about my work now as a ghostwriter and publisher, and access free downloadable ebooks on different topics in writing. Melissa ________________________ I'm Melissa Newton, Founder and President of Millcreek Media Group, Inc. (MMG), a publishing and content media group. In addition to being an author, ghostwriter, and writing coach, I can take you through every step to publish your book. I consider myself lucky to follow new dreams in the latter part of my career. I want to help you fulfill your dreams as an author! Live the Life You've Imagined The above quote from Henry David Thoreau is a promise of what life can be IF we choose to make it so. Do you want to take your ideas, experience, and stories and write a book? Your experience needs an experienced ghostwriter or writer/editor. I'm here to help you succeed. Ghostwriting, Writer/Editor, Book Project Manager With decades of writing, ghostwriting, and publishing experience, I bring a rich background to our collab...

    Read more from Melissa Newton

    Related to MMG Guide to Banking Basics for International Students

    Related ebooks

    Personal Finance For You

    View More
    View More

    Related podcast episodes

    Related articles

    • Article

      Busting Trust Myths

      Sep 3, 2020

      “Trust busting” is the term often used to describe instances where a court finds in favour of a claimant trying to access trust assets. Here, though, I do not want to talk about “trust busting”. Instead I want to bust some trust myths. There has been

      2 min read

    • Article

      How To Add Treasury Bonds, Bills And Notes To An IRA

      May 16, 2019

      [Question]Can you purchase Treasury securities for an IRA directly from the U.S. Treasury through TreasuryDirect? How can you add them to an IRA? [Answer]TreasuryDirect.gov is intended as a way for individuals to buy securities from the Treasury and

      1 min read

    • Article

      Don’t Assume A Trustee Has The Board’s Authority To Act

      Nov 21, 2020

      OUTSIDE parties that deal with a trust often assume the trustees have both the authority and capacity to enter into transactions binding the trust. If trustees have not ensured that these requirements are met, to what extent can these outside parties

      3 min read

    • Article

      How Transfer-on-Death Accounts Can Fit Into Your Estate Planning

      Mar 18, 2019

      My wife and I, like most married couples, share a bank account from which either of us can write checks and add or withdraw funds without consent from the other. If my wife outlives me, the account will be hers alone, which my Last Will can't change.

      4 min read

    • Article

      Don't Settle for Anything Less Than True Diversification

      Dec 11, 2018

      Diversification is a big word, but it can be simply defined: Don't put all your eggs in one basket. That sounds easy enough to understand and accomplish, but it can be trickier than you might think. That's because there's a big gap between how Wall

      3 min read

    • Article

      Can You Just Walk Away from a Debt-Riddled Business and Start Fresh?

      May 28, 2020

      In the wake of the coronavirus shutdown, many business owners are under immense financial stress caused by the economic impact of a nearly worldwide standstill. Some may be in or at risk of breach or default. Creditors may be jockeying for payment an

      7 min read

    • Article

      Owner Occupied Commercial

      Nov 28, 2019

      Commercial property is a great investment vehicle; however, it can be a hard market to access with shorter repayment terms, higher interest rates and a greater deposit required for lending. Business owners, however, have a unique opportunity in this

      2 min read

    • Article

      Changes To Trust Legislation

      Apr 2, 2020

      It has often been considered that the role of trustee of a trust is an onerous one, with trustees exposed to liability claims by beneficiaries if financial decisions don’t work out. This has led to increasing reluctance by professionals to offer them

      2 min read

    • Article

      Trustees Are Accountable To The Master Of The High Court

      Jan 16, 2021

      A TRUSTEE of a trust is accountable at all times to the Master of the High Court and to beneficiaries. If trustees’ actions (a single or multiple trustees) contravene either the provisions of the Trust Property Control Act or the trust instrument, th

      3 min read

    • Article

      What’s a DST? The Lowdown for Real Estate Investors

      May 22, 2022

      DSTs are unique real estate investment vehicles that allow a group of individual investors to purchase fractional interests in large commercial real estate assets that typically would be well beyond their financial reach as solo investors. DST invest

      3 min read

    • Article

      You Can Bank On Banks

      May 1, 2019

      Put money in a piggy bank, and it sits there. Put that money in a banking account, and it goes to work. To learn more, COBBLESTONE spoke with Ann-Marie La Porta. She’s a vice president and senior advisor in the Private Banking department at Huntingto

      3 min read

    • Article

      4 High-Yield Spots to Park Your Savings

      Mar 26, 2018

      Take a look at someone's savings account and you can learn a lot about what type of lifestyle they lead and how they feel about risk. Therefore, one of the first steps I take when trying to understand the financial health of my clients is to see how

      3 min read

    • Article

      Make It Easy For Young Savers

      Oct 2, 2019

      We received a complaint last month from a regular reader for taking them down the merry road of recommending kids’ savings accounts that turned out to be inappropriate for them. The reader did their additional homework, calling three of the financial

      2 min read

    • Article

      Solve It In 7

      Aug 25, 2022

      Solve It In 7
      2 min read

    • Article

      Take It To The Bank

      Apr 1, 2019

      Take It To The Bank
      2 min read

    • Article

      Track Down The Best Savers

      Apr 1, 2020

      I was 18 when I opened my first savings account. I had just got confirmation that McDonald’s at Circular Quay would be delighted to train me as a “crew member”. They wanted all my personal details, including my bank account, where they would deposit

      2 min read

    • Article

      Clean Up Your Finances While Stuck at Home for Social Distancing

      Apr 23, 2020

      While you didn't plan it this way, it looks like spring cleaning will be happening while we all spend a lot more time at home due to social distancing. Allow us to make a suggestion: Make the most of the extra time you have on your hands. It's the p

      3 min read

    • Article

      When It’s Time To Change Banks

      Jul 28, 2023

      Send suggestions for topics and requests for info to yourmoney@you.co.za. We may answer your questions in this column but won’t reply personally. AS YOUR life changes, your banking needs change too. These days banks offer more than different types of

      3 min read

    • Article

      Younger Savers Set The Pace

      Jul 28, 2021

      Millennials and the younger gen Y are setting a new gold standard in banking. If I could turn back time, I wish I had access to the same banking features that are now the norm. But the good thing is that while banks have purpose-built apps for the yo

      3 min read

    Related categories

    Reviews for MMG Guide to Banking Basics for International Students

    5/5

    1 rating0 reviews

    What did you think?

    Tap to rate

    Review must be at least 10 words

      Book preview

      MMG Guide to Banking Basics for International Students - Melissa Newton

      MMG Guide to Banking Basics for International Students

      By Melissa Newton

      Copyright 2016

      Smashwords Second Edition License Notes:

      This ebook is licensed for your personal use only. This ebook may not be re-sold or given away to other people. If you would like to share this book with another person, please purchase an additional copy for each recipient. If you’re reading this book and did not purchase it, or it was not purchased for your use only, then please return to your favorite ebook retailer and purchase your own copy. Thank you for respecting the license notation of this author.

      Table of Contents

      Author’s Note

      Overview

      Part 1: The Facts on U.S. Currency

      Part 2: Choosing a Bank

      Is My Money Safe?

      Big Bank versus Community Bank

      What to Look for When Researching a Bank’s Website

      Checking Accounts

      Savings Account

      A Bank’s Fee Schedule

      Funds Availability (When can I get my money?)

      Part 3: Opening a Bank Account

      Part 4: Managing Your Bank Account

      Online Banking and Online Bill Pay

      How is Mobile Banking Used?

      Tips on Using a Debit Card in the U.S.

      Using an Automated Teller Machine (ATM) in the U.S.

      Overdrafts, Non-sufficient Funds, and Other Fees

      What Types of Alert Messages Can I Set Up on My Account?

      Avoid Identity Theft, Fraud, and Money Scams in the U.S.

      Part 5: Other Facts to Know About Banks and Money

      Why You Need to Know About Basic Banking

      When Are U.S. Banks Closed?

      What Public Notices Are Required at a Bank?

      Do You Know Your American Bankers Association (ABA) Number?

      What is the Federal Reserve?

      Part 6: Websites and Resources

      Author Closing Comments

      About the Author

      Other Books and White Papers by Melissa Newton

      Connect with Melissa Newton

      Disclaimer

      ****

      Author’s Note

      Congratulations! You are on an exciting adventure as a college student. You have the opportunity to immerse yourself into college life which brings a mixture of fun, responsibility, and the opportunity to make lifelong friendships. In addition, the educational goals you have set for yourself will prepare you for the successful career you have dreamed of achieving.

      There are many details, both large and small, for you to plan as you enjoy a meaningful academic and social experience here in the U.S. One very important item you need to add to your checklist is obtaining a basic understanding of the U.S. banking system and how to choose and work with a bank to meet your money lifestyle needs. Why? It is because from the minute you step off the plane, you deal with U.S. money.

      In our research, we found that one of the frustrations of some international students is navigating the U.S. banking system. For this reason, we have published the second edition of our MMG Guide to Banking Basics for International Students. (The first edition of MMG Guide to Banking Basics for International Students was published in 2015 and was so helpful to readers).

      Our goal continues to be to help steer you through the process of banking here in the U.S. so you feel confident about choosing a bank, picking the right bank account(s), managing your money to avoid bank fees, and keeping your personal identity and money safe. There is no doubt the U.S. banking industry, just like yours at home, has its complexities. But, as an international student, what you need to know to get started is in this guidebook.

      We want to hear from you. We really do! If you found this guidebook helpful, tell us. If you run into a problem or issue that we did not discuss, tell us. We will add it to our next edition. We hope the MMG Guide to Banking Basics for International Students makes your experience studying in the U.S. just a little easier. We also appreciate you telling others about how this money guidebook can help them too!

      We wish you all the best during your exciting experience as an international student in the United States. We look forward to hearing from you.

      Melissa Newton

      President, Editor-in-Chief

      Millcreek Media Group, Inc.

      MelissaNewtonMMG@Gmail.com

      ****

      Overview

      The purpose of the MMG Guide to Banking Basics for International Students is to give you a convenient resource to understand key banking topics as you manage your bank account(s) in the U.S. Selecting a bank and then opening a checking account is one of the first action steps you take once you arrive and get settled on campus. Once your banking relationship is established, then it needs to be properly managed. One thing is for certain, setting up a U.S. bank account will make your daily money life on campus a whole lot easier.

      Why do you need to establish a checking account at a U.S. bank? Consider the following:

      1. The convenience of using U.S. currency in your daily money life. After all, every money transaction while studying here will be done within the U.S. banking system.

      2. You will enjoy a savings benefit using U.S. currency instead of dealing with the cost of frequent currency exchange and money orders.

      3. A checking account provides a place to deposit the money you have and will receive from home, financial aid awards, or other types of deposits. If you are authorized to work, an employer will have your payroll (money paid to you for work performed) deposited into your account using direct deposit.

      4. A checking account will give you to the tools to perform a variety of money transactions. Activities such as shopping, eating at restaurants with friends, travel, and paying bills can be handled safely and easily.

      These tools include the ability to write checks, use a debit card, deposit and withdraw money from an Automated Teller Machine (ATM), manage your account using Online Banking (access to your accounts through the Internet using your bank’s website), paying bills online using Online Bill Pay, and Mobile Banking.

      5. It is more cost effective to do your purchases in U.S. currency. In addition, it is safer than carrying cash in your wallet or purse or purchasing money orders.

      The MMG Guide to Banking Basics for International Students is broken down into six main parts:

      The Facts on U.S. Currency

      Choosing a Bank

      Opening a Bank Account

      Managing Your Bank Account

      Other Facts to Know About Banks and Money

      Websites and Resources

      We have designed the Q&A layout so it

      Enjoying the preview?
      Page 1 of 1