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There is a lot of freedom in the United States when it comes to money management and other financial decisions. This level of individual choice is valuable, but can cause some confusion as well. Below is some general information about banking in the United States.

For more information, visit our Social Security Numbers page or US Tax System page.

Banks and Banking Institutions

It is a good idea to open a US bank account as soon as you arrive to deposit your money rather than keep a lot of cash with you. American banks provide a convenient and safe place to keep your money because they have insurance on all funds kept in them. Many Americans pay their bills and expenses with a debit/check card or checks from their personal checking account.

There are several banking options available on-campus, and many more in our surrounding areas. Shop around for the best services and interest rates.

View a map of local branch offices located nearest to the University’s River Campus. There are many banking options within walking distance of the Eastman School of Music campus downtown, including an ATM on the first floor of the Miller Center, which charges a small fee for each use.

Other on-campus or nearby banking locations include the following:

Chase Bank

Chase Bank branch offices are located in Todd Union on the River Campus as well as in the Medical Center. ATM terminals are also available behind the Rush Rhees Library and at three other locations within the hospital.

Advantage Federal Credit Union

ATM terminals for Advantage Federal Credit Union are available in Susan B. Anthony Hall on the River Campus and in the Medical Center lobby entrance on Crittenden Boulevard. The local branch office is at 1625 Mt. Hope Ave. (map)


Money Transfers

We advise you to have money wired directly to your local bank account by electronic transfer from your overseas bank.

You can also transfer money through private companies, such as Western Union, but this requires a Visa or MasterCard to transfer money over the telephone. Otherwise, you must visit a local Western Union office to arrange the transfer.

Keep in mind that wire transfers can take up to 21 days to process.