Bank Accounts.  Set up savings and checking accounts at a bank for your money for safekeeping and to access services such as writing checks or using the Automated Teller Machine (ATM).  Consult the representatives at the bank regarding the services, fees, interest rates, terms, and limitations of the different kinds of accounts, so you can choose the one that best suits your needs.  Savings accounts are used for keeping larger amounts of money, as they usually earn more interest then checking accounts.  Checking accounts allow you to make payments in place of cash, and helps you keep track of how much money you have and where it goes.  Keep a record of every deposit and withdrawal of money from your account.  The bank should send you a monthly statement for your account.  You should check the activities recorded in the statement against your personal records, and report any discrepancies.

"Bounced" Check.  A term which means writing a check for more money than is in your checking account.  This may be a criminal offense, and is usually punished by at least a monetary fine.

ATM (Automated Teller Machine).  The ATM allows you to make banking transactions without going to the bank by using a card with a personal password.  There may be a charge for this service.  ATM machines are located at Newcomb Hall, and various locations around the university and in Charlottesville for you to make deposits or withdrawals of money.

Banks.  Branches conveniently located near UVA include:

• Bank of America at Newcomb Hall, on the "Corner", and Barracks Road Shopping Center
• Wachovia Bank at Barracks Road Shopping Center
• University of Virginia Community Credit Union, UVA Hospital Branch, 222 Lee Street, and the Arlington Boulevard branch

Debit Card.  This card issued by your bank allows you to make cashless payments from your bank account.

Credit Cards.  Visa, MasterCard, Discover, and American Express are widely accepted.  These credit cards are used for convenience to make purchases without paying cash.  You are billed for the total amount charged to the credit card(s) each month.  You should pay off the entire balance by the due date every month to avoid paying the high interest charge, and avoid significant credit card debt.  Businesses that take credit cards usually have their stickers displayed on storefronts or entrances.

Currency.  U.S. coins consist of the penny (1 cent), nickel (5 cents), dime (10 cents), quarter (25 cents), and golden dollar (100 cents).  U.S. dollar bills come in the following denominations: $1, $5, $10, $20, $50 and $100.  The largest denomination that most people use is the $20 bill.  Most places will not accept bills larger than $20.