6 Finances
Crimson Card
You will get a Crimson Card at orientation. Plan to carry it with you at all times. It is your student ID, residence hall key, meal card for on-campus dining (dining dollars), library card, and bus pass. You can also put money on your Crimson Card and use it like a debit card around campus at other local restaurants and businesses. Your digital Crimson Card can also be accessed using the mobile ID app.
Bursar
You can pay your bursar balances from your home country through Flywire or Western Union GlobalPay. This option allows you to pay in your own currency while providing a simple and secure way to initiate an electronic transfer.
Find more information in the Payment Options section of the Bursar’s website, or contact them at scu@indiana.edu or 812-855-6500 for specific details on your account.
Bank Accounts
All financial institutions offer similar services, with slight differences.To open an account at most banks, you will need your passport and at least one other form of photo identification. At a bank, you can deposit cash, a bank draft, a cashier’s check, or traveler’s checks payable in U.S. dollars. Checks from foreign banks may be deposited, but it can take two to six weeks before money is available.
When opening a bank, account, you generall have two options:
Checking: withdraw money or use debit card or checks in place of currency
Savings: store money safely, earn interest over time, and withdraw cash less frequently
It is not advisable to carry or casually store large amounts of cash. All banks will provide you with an ATM (Auto-mated Teller Machine) or debit card, which will allow you to deposit or withdraw money directly into or out of your bank account.
U.S. Currency
Paper money is all the same size and similar in color. These bills come in $1, $2, $5, $10, $20, $50, and $100 denominations. One hundred cents (¢) are equal to one dollar, and most coins are either 1¢ pennies, 5¢ nickels, 10¢ dimes, or 25¢ quarters. A few silver and gold half-dollar coins and one dollar coins are also in circulation.
Wire Transfers
All financial institutions accept wire transfers. To send money directly to your Bloomington account, just ask your financial institution for its wire transfer routing number and address.
Social Security Card
Many businesses like mobile phone providers, landlords, utilities, and others require a Social Security Card. You need to appear in person at the local Social Security office to apply for a card. You will need to bring:
- Passport
- I-94
- DS-2019 or I-20
- Letter from OIS verifying your status (or your sponsor if you are J-1)
If you are in F-1 status, you need to provide proof of employment before a social security number can be issued. This can be done with an appointment letter or a pay stub. If you are in J-1 status, you are exempt from this requirement.
Taxes
Even if you do not earn money while in the United States, you will need to file a tax form before April 15 each year. We will email you in January or February with additional information about filing a tax form.
A student organization called Volunteer Income Tax Assistance (VITA) provides free tax assistance to students each spring.
If you are employed in the United States or receive a scholarship larger than your tuition, your income will be taxed. To minimize the impact of the taxes assessed for IU payments, you need to complete an International Tax Questionnaire (ITQ).
If you have questions, you can email the Office of Financial Management Services at taxpayer@indiana.edu, or call 812-855-0375.