Budget & Finances

Finances

Make arrangements to ensure you will be able to access funds from within the U.S. Make sure your ATM card has an international PIN. Ensure that you have enough money to pay all fees, such as rent and supplies. Inform your bank or credit card company that you will be abroad for the next several months. In an effort to protect your account, some companies may suspend it if they see it being used in an unexpected location. 

Banking

Many local banks and credit unions offer student checking accounts. If you are planning to open an account with a local bank, be prepared to bring identification. More information is available from the International Center.

Method of payment

We suggest converting your currency to U.S. Dollars at official banks upon arrival to the U.S. Credit and debit cards are accepted at many local retailers on campus and in the Ann Arbor area. Many students rely on ATMs to access cash. Be aware that ATMs can charge a small fee. 

Please note that U-M student account fees, such as health insurance fees, must be paid in cash, check, or ePayment. Credit card payments will not be accepted.