PNC student banking at Miami University table at resource fair event

Banks are usually open Monday through Friday during regular business hours, and many are open for a limited number of hours on Saturdays. They are closed on Sundays and federal holidays. Automated teller machines (ATMs) are typically open 24 hours a day. Banks offer a variety of financial services, including checking and savings accounts, certificates of deposit (CDs), investment services, wire transfers, credit and debit cards, electronic banking, and ATMs. When selecting a bank, it is important to determine which of these services you may need and to ask about any fees that may be involved.

Miami University has partnered with PNC Bank, which has a branch conveniently located on campus in the Shriver Center as well as ATM machines around campus. There are numerous other banks located in Oxford, many within walking distance of campus and off-campus apartments. You can search for them online.

Types of accounts

A checking account enables you to have a place where you can deposit money that you receive – like salary from an on-campus job and money from home. It also enables you to spend money by writing checks, using a debit card, or going online to pay bills or to make purchases. A checking account provides you with an accurate, monthly record of your finances – what was deposited and what was spent or withdrawn.

A savings account is used to safeguard money for an extended period of time and is often reserved for future financial plans and investments. Typically, you cannot pay for items using money in your savings account – you need to transfer it to your checking account first. You may also want to talk to your bank about other types of savings accounts such as Certificates of Deposit (CDs) and Money Market accounts.

Opening an Account

When you are ready to open an account, you will be asked to provide personal information such as your name, U.S. address, home country address, email address, and phone number. If you do not yet have a local U.S. address, you must go back to your bank or to your bank’s website to update your address as soon as you have one.

You should also bring your immigration documents with you (passport and I-20 or DS-2019) when opening an account. You will be required to show your valid passport as well as another form of identification such as your driver license or student ID card. You should not need a Social Security Number [HMLM1] to open a bank account. If the bank asks you for your SSN and you do not have one, you may want to consider another bank.