Many students find it necessary to open an account with a financial institution in Baltimore. Having a local account can give you speedier access to your funds as banks usually take time to process checks written on out-of-state accounts.
Not all banks are alike, and it is important to shop around to find the bank best suited to your needs. Here is a list of the kind of questions students should ask when choosing a bank:
- How long does it take:
- before I have access to deposited funds?
- checks written on an in-state account to clear? Out-of-state?
- funds to transfer from foreign bank accounts?
- a large check to clear (like a loan check)?
- What fees are charged? Is there:
- a monthly service charge?
- a minimum balance to avoid a monthly service charge?
- a fee for writing checks?
- What are the fees for overdrawn checks?
- What other fees are there? (Teller charge? Phone access? ATM transaction fee?)
- Does the bank have online services? Are they free?
- Is the bank on a network (e.g. Cirrus, MOST) that will allow access to other bank’s ATMs (including the one at Peabody)
- What is the interest rate for specific accounts (savings, checking, etc.)?
- Is there a minimum amount required to earn interest?
- What are the bank’s hours of operation?
- Are there evenings when the bank is open? Weekends?
- Ask for a pamphlet or business card with banking hours and contact information.
- Where is the bank located?
- Where are ATMs located?
- Are there branch locations throughout the city, county, or state?
- Where is the branch nearest Peabody?
This is a copy of the questions above. It's helpful to contact several banks, collect information, and compare the services they provide before making a commitment.
Some banks with branches near Peabody:
|Bank of America||www.bankofamerica.com||(410) 385-8310|
|Bay Bank||www.baybankmd.com||(410) 536-7386|
|Capitol One Bank||www.capitalone.com||(410) 468-3140|
|The Harbor Bank||www.theharborbank.com||(410) 528-1801|
|M&T Bank||www.mtb.com||(410) 462-5090|
|PNC Bank||www.pnc.com||(410) 962-1420|
|Suntrust Bank||www.suntrust.com||(410) 986-1540|
|Wells Fargo||www.wellsfargo.com||(410) 468-2519|
Note to International Students
Due to delays in obtaining a social security number, an International Student opening a bank account will be required to present the following documents:
|Bank of America||Passport, School ID|
|Bay Bank||Passport, School ID, W8 (provided by the bank)|
|Capital One Bank||Passport (must be over 18 y.o.)|
|Citibank||Passport (possibly School ID)|
|The Harbor Bank||Passport, School ID, Proof of Address|
|M&T Bank||Passport, School ID|
|PNC Bank||Passport,School ID|
|Suntrust Bank||Passport, Proof of Address|
|Wells Fargo||Passport, School ID|
The ATM located on Peabody’s campus is owned and operated by the Johns Hopkins Federal Credit Union. This ATM accepts cards on the MOST, Cirrus, Honor, Encore, VISA, and MasterCard networks, but does not accept deposits.
Johns Hopkins Federal Credit Union
Peabody students are eligible to join and use the Johns Hopkins Federal Credit Union for their banking needs. The Credit Union operates as a full service financial institution offering savings and checking accounts, free Internet and telephone banking options, ATM cards, and low-interest loans. An especially attractive feature of Credit Union membership is the option of having your University payroll check directly deposited into your Credit Union account(s).
Credit Union members are eligible for discounts at some area businesses and sporting events, and can obtain loans from the Credit Union for cars, education, bill consolidation, or other financial needs. Members can retain their accounts with the Credit Union after they are no longer employed at Peabody.
For more information on Credit Union services, call 410-534-4500 or visit the website atwww.jhfcu.org.
To help give you easier access to your money, JHFCU has formed several partnerships with local and national ATM owners. As a Credit Union member, you can use your JHFCU Visa Check card to make withdrawals at more than 1,500 M&T Bank ATMs in Maryland and surrounding states or 25,000 CO-OP Network ATMs across the nation, with no surcharge from the ATM owner. To locate all the surcharge-free ATMs near you, just log onto www.jhfcu.org, click the ATM/Branch Locator link, and enter your address. The Credit Union also operates the ATM on Peabody's campus.
The online brochure provides detailed description of the services offered to students by the JHFCU.