lifehack.guide

How to TRANSFER your money to the USA and/or Pay your Tuition Fee
(from your home country):

Recommended:

1. Carry Cash in Hand (0.5% - 1.5% Surcharge)
   1. Only the currency exchange surcharge charged by your bank or your money-transfer company like "Western Union" is applicable.
   2. Banks have a higher currency exchange surcharge of ~1.5%, while a money-transfer company like "Western Union" charge a minimum of 0.5% currency exchange surcharge.
   3. You shall need money during travel, take $400 – $1000 with you, it should be sufficient.
   4. If for a particular reason, you want to carry a large amount of cash, Remember that from most countries to the US, only a maximum total of $3000 are allowed to be carried "in hand".
   5. Carry US currency (USD) mostly in small denominations (5, 10, and 20 dollar bills) in your wallet (you will need them).
      
2. Demand Draft (~1.5% Surcharge + DD Sending Fee)
   (also called DD, sight drafts, bank drafts, certified checks or bank checks)
   1. It is a financial draft payable on demand.
   2. Demand Drafts are mostly issued by banks, for which you pay the default ~1.5% currency exchange surcharge.
   3. A bank (the maker) issues a demand draft to a client (drawer) (you), directing the drawee (one of its own branches or another bank) to pay a certain sum to the specified party (payee).
   4. Demand drafts can only be made payable to a specified party, also known as "pay to order".
      
      
3. Wire Transfer (1.5% - 1.625% Surcharge + Wire Transfer Fee)
   (also called bank transfer or credit transfer)
   1.  A method of electronic funds transfer from one entity (or person) to another.
   2. It can be made by 2 ways:
      1. From one bank account to another bank account or
      2. Through a transfer of cash at a cash office.
   3. Its often the cheapest method for transferring funds between bank accounts.
   4. It can be done through money transfer agencies like TransferWise, which charges a currency exchange surcharge of ~1.625.
   5. It can also be done through banks in your home country which can charge a currency exchange surcharge of ~1.5% alongwith a Wire transfer Fee.
   6. The entity wishing to do a transfer approaches the bank and gives the bank the order to transfer a certain amount of money while giving them IBAN and BIC codes of the entity to which the money needs to be sent.
   7. This mode of transfer typically implies charges from both of the participating banks, which can be between $8-$25, depending on the 2 banks.
   
   

Not Really Recommended:

1. Traveler’s Check (Highest Surcharge = 0.5%+ Surcharge + Issuer Fee + Receiver Fee)
   1. You can use them while travel, but you probably wouldn't, also not recommended for carrying a large amount.
   2. Are preprinted, fixed-amount cheque designed to allow the you (the person signing it) to make an unconditional payment to anyone.
   3. It can never 'bounce' unless the issuer goes bankrupt and out of business.
   4. It will unconditionally guarantee payment of the face amount even if the cheque is: fraudulently issued or was stolen or lost.
   5. Travelers cheques are no longer widely accepted and cannot easily be cashed, even at the banks that issue the cheques.
   6. A high fee is charged by the issuer and agent as well, also the "less favourable" foreign exchange rate is charged.
   7. If for a particular reason, you want to carry a large amount of money as traveller's cheques, Remember that from most countries to the US, only a maximum total of $7000 are allowed to be carried as "traveller's cheques".
      
2. Forex Card (0.5%+ Surcharge + ATM Withdrawl Fee)
   (also called Travel Card or International Prepaid Card)
   1. It is an ATM card issued by a bank in your home country which can be used to withdraw money in the US.
   2. It is recommended for short-term business trips to the US, so you don’t really need one.
   3. Has a "Lock in exchange rate", that is, it provides protection against exchange rate fluctuations with the safety of carrying currency on a card when travelling internationally. 
   4. These cards transact in Foreign Currency, US Dollars, in our case, so, you will spend Dollars at the rate you buy the dollars.
   5. It can be used in places where a "debit card" is accepted at Point-of-Sale or online.
   6. Funds can also be withdrawn in local currency at any ATM at a nominal transaction fee ranging between $1 to $3 for every transaction.
   7. These cards are not associated with an operative account, so you cannot do funds transfer from this card, that is, No NEFT, RTGS and SWIFT transfers are allowed. 
   8. You can Top up this card with money while you travel.
   9. Top up can be completed in a matter of minutes (Can take a maximum of a couple of hours).
   10. In order to load cash onto the card, either you or your authorized representative will have to visit the branch personally and make the request. Make sure you get appropriate forms from the banks and authorize your parents/sponsor. Also, confirm with your bank if they allow you to load the card through your existing account with the bank through internet Banking. It will be convenient for your parents/sponsor to load your card.
   11. These cards come with the facility of checking their balance online, so you dont need to waste your money by checking your account balance at an ATM (As even checking the balance is chargeable). 
   12. Make sure that the forex card you choose is compliant with FEMA regulations and will allow you to carry more than $10,000 in a year.
       
       
3. International ATM-cum-Debit Cards
   1. Overseas ATM transactions and swiping at merchant locations will incur an "exorbitant" fee.
   2. Also the conversion rate of the currecy you are paying in, at the day of transaction; will be implied.
      
      

15 Things to Remember Before You Transfer Your Money -

1. The option you choose to transfer the money depends heavily upon how much you plan to take with you to the US. 
2. It also depends on the transfer fee (international surcharge/commission fees) for that particular mode of transfer of money.
3. If you plan to take the first semester fees with you, take a DD for the First Semester Fees (+ $500 just in case) in the name of the university. Remember to Not carry the tuition fees for the full year as cash in hand.
4. Since your demand draft amount is somewhat greater than your tuition fees, No worries!, once your bank draft is cleared and credited to the university account, they will refund the money to you as a personal check. You can contact the Bursar’s Office of your university to resolve any questions you may have about finances.
5. Figuring out your living expenses for six months may require a bit of research on your part. Take just the right amount for the first semester (especially if you are taking money out of an education loan). Consider food costs, the price for laundering clothes, replenishing toiletries, the occasional fun outing with friends, and other miscellaneous expenses.
   Here are some conservative estimates:
   1. Texas, Florida – About $400 per month
   2. Houghton, Michigan - About $500 per month
   3. New York, California – About $600 per month
      
6. If you have taken an education loan, some bank managers shall not issue demand drafts in your name. If this is the case, get your second draft made out to the University as well. You will be able to get a personal check from the university after submitting the DD's to the university.
7. Open a bank account in the US whenever you get time to do so.
8. You will get an ATM debit card immediately when you open the account. 
9. Try to get an on-campus job as soon as possible (ASAP), do the job for the first week or two (at the least), it will allow you to get get your Social Security Number (SSN), which is required if you want to get a Credit Card made in your name. 
10. If you plan to take the Living Expenses cost for 6 months to 1 year with you and not wire transfer it, take a DD of that money in your own name.
11. Now deposit the "living expenses DD" or bank check into your newly opened account (Remember: A DD will take 10 days to be credited to the account).
12. You should also have USD in cash on hand to utilize for the first 2 week of expenses until your bank account has been opened in the USA and your living expenses DD has been transferred.
13. If you plan to transfer a large amount of the money ($30,000+ USD), have your parents wire transfer the money to your account after you have successfully opened a bank account in USA.
14. Taking the entire money ($30,000+ USD) in DD is a possibility, but its not advised, as it can become a large hassle and a great source of tensions, especially if you happen to lose the DD.
15. As per FEMA (Foreign Exchange Management Act) regulation, a student going abroad for education may be sent a maximum of $1,00,000 or equivalent during the financial year. 

• Things to Take with You -
  
  1. Passport
  2. Admission Letter.
  3. Flight ticket printout.
  4. Proof of foreign residence (rental agreement or hostel registration documents).
  5. I94 (electronic), 
  6. Customs Declaration Form.
  7. Marriage certificate (if you are married) and birth certificates for all family members who are going to USA.
  8. I-20’s for F1 Visa students from your school, and I-20's from different schools in case you are planing to get a transfer.
  9. I-797 approval for H1B Visa (Not applicable for Students on F-1 Visa).
  10. Couple of bank statements (or the ones you used for your visa), proof of financial support.
  11. Any other documents, like certifications, papers, presentations, reports, etc.
  12. Academic documents, such as the school's course catalog and other material you received from the school you going to attend. 
  13. Your own Business cards or Business cards of your key contacts in the US.
  14. If possible buy a $5 calling card and take it with you to make emergency calls, if need be.
  15. Funds for the trip; $5 and $10 bills (currency notes) (to rent baggage carts in airports, etc).
  16. The International Driving permit if you have it. However, it is rarely usable and not really recommended.
  17.  International Youth Hostel Card if you have it.
  18.  It might be worthwhile to bring several spare sets of passport photographs in case you need to get a new passport or visa. 
  19. At some universities, you will be asked to show the original Mark Sheets after completing orientation, So carry all documents (transcripts, degree certificate, course completion certificate, Provisional, Mark sheets).
  20. Extra copies of Recommendation letters and transcripts (signed and sealed) (with English translations) will be required of you want to apply for new set of schools. It will be huge hassle for you to get recommendation letters fromyour own country while you are in USA. So, get few extra copies before you leave. 
  21. A list of the names, addresses, telephone numbers, and email addresses of key contacts, both in the US and at home, including the contact information for friends and family who live in the US.
  22. Medical and dental records, including immunization and vaccination records and prescriptions, eyeglasses, insurance records. 
  23. If you use medications that contain narcotics or which are administered by syringe, carry a signed prescription from your physician with the medicine. Also tell your physician that about your upcoming visit to the US, since he may have to prescribe alternate medications. (Some controlled substances are prohibited, even in medicine.) Penalties for smuggling narcotics are severe.
      
      

• Photocopies to be Left Back at Home -
  
  1. Passport pages
  2. contact number of the person who will pick you form the airport
  3. US visa
  4. I-20
  5. I-797B (Not applicable to F1 status candidates)
  6. Transcripts
  7. Passport size photo.
  8. Signatures in check books
  9. Leave couple of  signed papers (empty) with your parents, if in case they want your signature for Bank or other needs.
  10. Copy of your travel details
  11. Make two photocopies of any important document. Leave one copy at home, and bring one copy with you, but keep it separate from the originals.

•  Caution Tips -
  
  1. Don’t laminate I-20 (if you do, you are inviting trouble).
  2. Carry all the documents in your  carry on bag (the one you take with you in the plane), Make sure you have all the legal documents handy.
  3. Don’t pack the documents in the bigger suit case that you will check-in. If the checked-in bags are lost, you will lose your documents.
  4. Don’t lose your cabin baggage which has all the essential documents in it.
  5. Don’t leave your bags with anyone even when you go to the restroom.
  6. Lock your (check-in) bags only with TSA Locks.
  7. Be careful, things get lost/stolen from USA to other countries (if bags get delayed).
  8. Don’t agree to take care of a stranger's luggage.
  9. Remember where you store you cabin bag in the plane. At times, there won’t be enough space keep it right above your head.
  10. If your flight to USA is delayed, don’t panic, your airlines will get you on next available flight.
  11. Make sure you know where you are going. You are *required* to provide an address in USA. If your apartment is not fixed, then you can provide your Graduate School or International School office address. 
  12. 99% of the time you will not have problems with carrying external hard disks (so you decide).
  13. Always carry one set of dress/clothes with you in your cabin bag.
  14. Sometimes it can take upto 2 hours to clear immigration and customs, so be patient.

1. For national security reasons, the U.S. government has strict visa issuance and admission policies.
2. Immigration and consular officers have broad authority to initiate lengthy background and security checks, conduct personal interviews with applicants, collect biometric information from foreign nationals, deny visas, and bar reentry. 
3. Stringent security checks are possible at each stage of travel; therefore, foreign nationals planning to travel outside the United States should be prepared for possible delay and inconvenience.
4. Upon application for entry to the United States, you should expect thorough screening procedures at airports and other ports of entry.
5. This could include a search of your electronic devices. If you are a citizen or national of a country of interest or concern to the United States you may be subject to additional levels of screening.
6. Before you travel, check your employer’s procedures for dealing with searches of company-owned phones, laptops and other devices. 
7. If detained at the port of entry, you are generally not entitled to have a lawyer present, but you should ask for permission to contact your immigration lawyer offices if the need arises. 
8. You should explain that contacting your immigration lawyer/consultant will allow you in turn to contact your employer/school if further information is required.

1. You will be given the Customs form to fill while in flight to USA (the I-94 is now electronic).
2. Your Flight will land in the International Terminal.
3. Take your cabin items and belongings & exit from the flight.
4. Walk to the immigration area
5. Look for the immigration queue that applies to your type of visa.
6. Wait in Queue for your turn.
   

1. Have the Forms (Hand over the I-20, Customs Form and Passport).
2. CBP (Customs and Border Protection) officer at Port of Entry will ask you a few questions.
3. Your identity and the validity of your visa will be checked against law enforcement databases. 
4. You will be fingerprinted and photographed.
5. You may also be asked whether you are bringing in any food. Do not bring any food with you. Food you received on the plane should be left on the plane. 
6. Upon clearance, you will be issued an admission stamp in your passport that is annotated with date and class of admission and admitted-until date. You will also have an arrival record in Customs and Border Protection’s online system.
7. Immigration officer will write D/S (Duration of Stay) in your I-20 if you are on F1 visa, and stamp your customs form.
   

1. Then Proceed to baggage claim area and pick up your Checked-In Bags (all 3) (you may have to get a baggage cart).
2. Walk to customs officer and hand over the stamped customs form to CBP officer) (they may ask you if you are carrying any food items, tobacco or similar stuff) and they will let you go to next destination.
3. After you clear the Customs, you are officially in USA.
   
   
4. After landing in Port of Entry (if final destination is different from your port of entry)
   
   1. Check in you bags again to the next flight (final destination).
   2. Walk to your gate and board the flight to your final/next destination.
   3. Find the Check-in counter of the specific connecting airline, It should be located right after you come through the customs. If you can’t find the  counter, speak-up and ask for help.
   4. Go to their kiosk and check-in the bags for domestic flight (located in the same terminal as you walk out). 
   5. Sometimes, they will give new boarding pass (or you might already have the boarding pass).
   6. Gate number will be on the boarding pass. Also, check the Departure Monitor on the airport for right time and gate number. Gate number could change.
   7. Also, while checking-in the bags, ask the airline agent, which terminal you have to go to catch the connecting flight. 
   8. You may have to go to another/next  terminal/gate to board your next/last domestic connecting flight (could take 10 to 30 minutes of walk or air train or shuttle. 
   9. If you are getting late to the connecting flight and there can be long queue in security area. In such case, request the TSA security agent to get you in front of the queue.
   10. Show your passport and boarding pass at security area, you may have to go through security check again to enter the domestic terminal.
       
       
5. If in case your flight landing to the US is delayed, follow these steps -
   
   1. Clear the Immigration and Customs as mentioned above.
   2. Check in your bags to next destination.
   3. Get the information about your next flight (if flight is different from your previous schedule).
   4. Find a phone to call and inform the people who is going to pick you from the airport.
      
      
6. If Port of Entry is your final destination, then walk out and wait for your pickup.
7. Greet the person with smile who comes to pick you from airport, (No worries if you have to take a cab).
8. Help them to load suitcase in the car.
9. Enjoy the fresh air and smell of this new place.
10. Let them take you to your place of stay, then inquire how can you call back home. Now, Call Home.
    
    
    
    NOTE: For more information see the US Customs Service web site, which includes the brochure Customs Guidelines for Visitors to the United States. Immigration laws can also be found at the US State Department web site.