It's very important that you set up a bank account before starting work. Many sponsors require you to have a bank account in order to pay your salary. You can use either a bank or a federal credit union.
We suggest TD Bank or Bank of America because both have branches in many cities – but you may use any bank. If you are in the Southeast US, BDV has a partnership with Truist Bank, so let us know if you need a connection there.
Just note that if you open a bank account in one city first and then move to the city of your sponsor's worksite, you will need to make sure your bank has branches in that new city, or you can transfer to a new bank.
You can set up your meeting with a bank teller ahead of time. You should call ahead to ask what documents you should bring to your appointment. You will at least need your Social Security card and a photo ID to set up a bank account. You should also bring any immigration documents you have such as I-94, visa, EAD, or Green Card.
Your sponsor employer will most likely not pay you with a paycheck and definitely not with cash. You will probably need to be paid through Direct Deposit.
After setting up your bank account, you will need to get a Direct Deposit form from your bank (including your account and routing number) before starting work. You should bring in this form on your orientation or Hire Date. Some companies may allow you to simply provide the accounting and routing numbers (or a blank check) instead of a Direct Deposit form.
Q. What if I have a low credit score? (or no credit score because I have no history of living in the US?)
A. In the United States is important to manage a very good credit score, but there are ways to succeed even without one.
Apartment managers or auto businesses may check your credit when you are applying for housing or for a car loan.
Everyone's financial situation is unique, and your credit score will reflect that fact. A score below 650 doesn't mean that you'll never be able to rent your dream apartment or get a car. However, it’ll take additional effort on your part to make it happen.
There's no set credit score necessary to rent an apartment or house; the criteria for approval will vary depending on the property, location, landlord, and other factors. However, knowing your credit score before you start apartment-hunting can help you zero in on properties you may qualify to rent.
If you run into problems with credit scores for car loans or apartment rentals, here are some tips that will help you:
Always show the Job Offer Letter BDV provides to you.
Show your bank statement: download the most recent bank statement from your bank (either in the US or in your country) and it will help you at the time you rent the apartment as proof of the money you have here.
Ask a friend/family member to be your guarantor / co-signer.
Offer to Pay a Higher Security Deposit: Landlords often see renters with sub-650 credit scores as a bigger risk; offer to pay a higher security deposit. As long as you’re timely with rent payments and respect the property, it's a no-risk move on your part since you'll get the deposit back at the end of your lease.
Provide Plenty of References: If you have lived in the US before, provide a letter from your former landlord that you were able to make payments on time monthly (ie – you are a good housing candidate).
Be Honest: Don't make the mistake of trying to hide a poor credit score. Landlords will be performing an extensive screening on an applicant, including a credit check.
Explain Your Situation: You may have just arrived in the US and you are a new resident. Or you have been a student here without a job.