Banking

IIE pays your stipend each month. They use Zelle to send your payments, which are accepted at many national banks, but not our local credit union (Michigan State University Federal Credit Union/MSUFCU).

We recommend that you keep at least $200-$250 emergency funds in cash available at all times in case of banking issues. (You do not need to carry this with you, but it should be kept somewhere safe.)

Options for banks that accept Zelle that have convenient ATMs are:

• Bank of America
• Chase
• Huntington

Credit Cards vs. Cash

While cash is still accepted in most places, having a credit card or debit card is HIGHLY recommended, as swiping/tapping a card (or phone for digital wallet) is the default method of payment in most places. There are some places that are completely cashless, like the MSU International Center food court, and some things you might use early on, like the Michigan Flyer bus (to/from the DTW airport, Ann Arbor, and East Lansing), will accept cash, but the drivers don’t carry change.