Handbook: Money & Banking

Welcome to the University of Oregon

Life As An International Duck

Incoming Student Handbook

 

Money & Banking

 

When you arrive in Eugene you will need enough money for immediate expenses including hotels, food, and basic needs. If the University is paying you, it may take more than a month until you get your first paycheck. Do not bring large sums of cash. There are many safer options available. Contact your home country bank for details about the following:

Foreign Currency Exchange

Currency exchange facilities in the U.S. are less common than they are in many countries and changing money at U.S. banks can be quite expensive. Some banks do exchange foreign money, but only if the currency is in notes, not in coins. The Eugene airport does not offer foreign currency exchange services. You should plan to convert your foreign currency at your international port-of- entry.

Opening A Bank Account

Upon arrival, you will want to open a bank account as soon as possible to keep your money in a secure location. You can open a U.S. bank account with a minimum of $100, your passport and your I-20 or DS-2019.

If you are planning to have money transferred or wired from abroad, be aware that there may be a delay of a few days or weeks before you can access your money. Inquire with the bank on wait times based on the type of deposit you will make.

Credits Cards

If you have no credit history in the U.S., it may be difficult to obtain a credit card. You can establish a credit history by obtaining a “Secure Credit Card” which will require you to deposit money for its usage. Within a few months of using the Secure Credit Card, you may be eligible for other credit cards. However, you may need a Social Security Number to be eligible to apply.

Checking & Savings Accounts

We recommend that all students open a checking account to pay bills such as rent or utilities. Most checking accounts include an ATM / Debit card so you can withdraw money from your account and use it for purchases. If you are working, you can request that your salary be directly deposited into your checking account every month (a safe and convenient option). Be aware that some debit cards have credit card logos on them (such as Visa, MasterCard etc.) and can function like a credit card for purchases. However, the payment is drawn from your checking account directly.

Paying Tuition & Fees 

University of Oregon has partnered with Flywire to provide our international students with a secure payment method that simplifies the payment process. With Flywire, you can pay online from banks and countries around the world, usually in your home currency.

Pay with accounts in your home country, in your currency for most countries.Offers payment methods like bank transfer, credit cards and e-payments (Alipay/PayPal) making the process familiar and easy for you.Avoid unnecessary bank fees and receive favorable foreign exchange rates.Track the progress of your payment anytime. Flywire’s multilingual CUSTOMER SUPPORT is available to help 24x7 using multiple channels.

University of Oregon Flywire payment site where you will follow the instructions provided by Flywire to complete the payment.

Flywire