Your one-stop resource for studying and living in the United States.  International students can search our directory of over 4,000 American educational institutions.  Find the right college, university, or other school for you, and study abroad in America!  Let us provide application forms as well as information on tuition, scholarships, grants, financial aid and much more.
Home Find a School Email to Schools Ask the Expert Fairs Scholarships Health Insurance
 
 

Your one-stop resource for studying in the United States. International students can search our directory of over 4,000 American educational institutions. Find the right college, university, or other school for you, and study abroad in America! Let us provide application forms as well as information on tuition, scholarships, grants, financial aid and much more.

 
 

 Study and Live

Banking in America - US Monetary System

Curious how the United States Monetary System works? Here's some help.

Currency in the United States is based on the decimal system. One dollar equals one hundred cents. It is written $1 or $1.00. A cent is written 1. One dollar and one cent would be written $1.01.

How it Looks
Coins and paper currency feature a famous American figure on the front; most of them former US presidents.

About Coins
Coin Figure on Front Value Value Color
Penny Abraham Lincoln 1 Cent 0.01 dollars Copper
Nickel Thomas Jefferson 5 Cents 0.05 dollars Silver
Dime Franklin Roosevelt 10 Cents 0.10 dollars Silver
Quarter George Washington 25 Cents 0.25 dollars Silver
Half dollars John F. Kennedy 50 Cents 0.50 dollars Silver
Dollar Susan B Anthony or Sacajawea 100 Cents 1 dollars Silver

Other Facts about Coins

  • The dollar and half-dollar coins are not common. 

  • The dollar coin and a quarter look similar and are often confused, so look carefully.

  • The front of a coin is called "heads;" the back is called "tails." Sometimes Americans flip a coin to make a random decision. They will pick heads or tails before the coin is tossed. The side landing up is the winner.

About Paper Currency
Amount Figure on Front Illustration on Back
$1.00 - One dollar George Washington Great Seal of US
$2.00 - two dollars Thomas Jefferson Declaration of Independence
$5.00 - five dollars Abraham Lincoln Lincoln Memorial
$10.00 - ten dollars Alexander Hamilton US Treasury Building
$20.00 - twenty dollars Andrew Jackson White House
$50.00 - fifty dollars Ulysses S. Grant US Capitol Building
$100.00 - hundred dollars Benjamin Franklin Independence Hall

Other Facts about Paper Currency

  • All paper currency is green. Unlike other currencies, all US bills are the same size and shape. 
  • United States residents do not usually carry around a lot of cash, as it isn't safe. They prefer to pay by check, debit cards and credit cards. In fact, some stores will not accept bills larger than a $20.
  • Another name for dollars is "bucks." One dollar is a buck. Twenty dollars is 20 bucks.
  • The $2 dollar bill is not very common.
  • To learn more about the US currency system, you can visit the US Treasury Department.

Back to Top

Currency Exchange Rates

Useful Web site:  http://www3.dynamind-llc.com/currency/input.cfm

Back to Top

Types of Banking Institutions

When you study in the United States, you will want to open a bank account. There are many different types of banking institutions in the United States. These include:

Banks
Banks in this country are local, statewide, regional and national. They are for-profit businesses that provide a wide range of services for which they usually charge a fee. 

In recent years, online banking has become an option. These institutions allow you to deposit funds, transfer funds, receive timely account information and pay bills all from your computer. As these are also for-profit businesses, they also charge fees for their services.

Credit Unions
Credit unions are nonprofit cooperatives owned and controlled by their members. They provide similar services to a bank, but usually have lower fees. Not everyone can join a credit union. You must be part of an organization (e.g., company, school or community group) that has one. Several different nationality groups living in the US have their own credits unions, so you may try exploring what's available.

Unfortunately, credit unions often have limited locations and conveniences. For instance, they may not offer such services as online banking or debit cards.

Savings & Loans
Savings and loans are designed to help customers save money and invest. They don't offer as many services as a bank. They do, however, often have better interest rates on loans.

Back to Top

Selecting A Bank

Before you select a banking institution, compare the services between different companies. Consider:

  • Does the bank offer the services you need? Can you easily transfer money from your native country to this branch? How long will it take for the transferred money to clear?
  • Does the bank have a partnership relationship with a bank in your native country? If it does, it might be easier for you to receive certain services.
  • What are the fees for its banking services? How do these compare with other banks in your area? What is the minimum amount you will need to keep in your account to avoid a monthly charge?
  • How convenient is the bank? Is it nearby your school? What are its normal office hours? Does it offer an ATM card? Can you make banking decisions over the telephone or online?
  • Is the bank federally insured by the Federal Deposit Insurance Corporation (FDIC)? If the bank goes bankrupt, only federally insured banks will give you up to $250 thousand dollars of your money back.
Back to Top
Details
Orientation Programs
Student Associations
Banking in America - US Monetary System
Banking in America - 
Various Bank Services
Telecommunication
Transportation
Making Friends
Health Insurance
Home  |  Find a School  |  Health Insurance  | Scholarships  |  Education Fair  |  Contact Us
  Taiwan China  |  Korea
Make your levitra web sites rely on advertising revenue equivalent to online marketing, Google advert sense, etc. To realize profitability your web site ought to like a well-liked viagra online having page views in big numbers. You online courting portal needs to be like a generic cialis providing prompt pleasures to your customers where they'll change their sexual fantasies among their friends freed from cost.