When you choose a bank, you might want to consider:

¨      Ease of access, Automatic Teller Machine (ATM) service

¨      The hours of operation and location

¨      The cost for services (ATM usage, check and monthly fees)

¨      Penalties, and minimum balance requirements


Generally, banks will not cash checks unless you have enough money in your account to cover them.  "Out of state" checks take at least 5 business days to “clear,” or become cash in your account (verify with the bank exactly how long this takes).  As a result of monthly, per check and penalty fees, banking can be quite expensive in the New York City area.


Beyond these considerations, you also need to check the various requirements each bank has for simply opening an account. Most banks are now asking for:


¨      2 Pieces of Identification – (a passport and Purchase I.D.)

¨      Banking Reference – (the bank you are applying to will provide the necessary form for the name and address of your previous bank, which they will contact for a reference.  However, this is not valid for newly arrived international students.)

¨      Employment Reference – (the bank will also supply this form for the name,

address and phone number of the places where you have worked during the past two years.)

¨      Minimum Deposit – (depending on the bank and type of account this could be $1-$500.)  You must be prepared to wait before withdrawing money until these references have been checked.


If you have never had a bank account or a job, most banks have alternate policies.  For example, you may often replace an employment reference with Purchase College enrollment verification, such as Purchase I.D. or proof of registration.  If you are really low on money and must budget very carefully, try to deposit cash into the bank.  If you deposit a check, you must be prepared to wait from 3-5 days before withdrawing.


Purchase/White Plains/Rye Area


Citibank                                    244 Main Street, White Plains   


HSBC                                        75 Mamaroneck Ave, White Plains


TD Bank                                    19 Court St., White Plains                


Bank of America                      206 Main St., White Plains       


Hudson City Savings Bank    115 South Ridge St. Rye Brook