The Peabody Institute of the Johns Hopkins University

    Most students will find it necessary to open a bank account with a financial institution in Baltimore. Having a local account can give you speedier access to your funds because banks usually take a long time to process checks written on out-of-state accounts.

    Not all banks are alike, however, and it is important to shop around to find the bank that is best suited to your needs. We called several area banks and asked their customer service representatives what kinds of questions students should ask when choosing a bank. Here are their tips:

• How long does it take before I have access to deposited funds?
• How long will it take for checks written on an in-state bank account to clear? Out-of-state?
• How long does it take for funds to transfer from foreign bank accounts?
• How long will it take for a large check to clear (like a loan check)?
• What fees are charged?
• Is there a monthly service charge?
• Is there a minimum balance to avoid a monthly service charge?
• Is there a fee for writing checks?
• What are the fees for overdrawn checks?
• What other fees are there? Some banks charge to use a teller instead of an ATM, for extra deposit, and for telephone access to your accounts.
• Does the bank have online services?  Are they free?
• Where are ATMs located?
• Is there a fee for ATM transactions?
• Is the bank on a network (e.g. Cirrus, MOST) that will give me 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?
• Is the bank open on weekends?
• Ask for a pamphlet or business card with banking hours and contact information.
• Where is the bank located?
• Are there branch locations throughout the city, county, or state?
• Where is the branch nearest Peabody?

 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:

Peabody ATM

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.