Financial service options for H-1B visa holders in the U.S.
Relocating under an H-1B visa?
Moving your finances should be the least of your concerns. First Tech’s Relocation Program can help you move your money and set you up financially in the U.S..
What is an H-1B visa?
The US H-1B visa is a non-immigrant visa. It allows U.S. companies to temporarily employ foreign workers with a bachelor’s degree or higher in specialty occupations that require theoretical or technical expertise in specialized fields such as:
H-1B visa interpretation of "specialty occupation"
For the occupation to be considered a specialty, the nature of the duties of the occupation should be specialized and complex. The knowledge required to perform such duties is associated with a Bachelor’s or higher degree.
How is an employee eligible for an H-1B visa?
For an employee to qualify to accept a job offer with an H-1B visa in a specialty occupation, they must meet one of the following:
- Have completed a U.S. Bachelor's or higher degree required by the specialty occupation from an accredited college or university.
- Hold a foreign degree that is the equivalent to a U.S. Bachelor's or higher degree in the specialty occupation.
- Have training and experience in the specialty occupation that is equivalent to the completion of a Bachelor’s degree.
- Hold an unrestricted state license, registration, or certification that authorizes the employee to fully practice the specialty occupation and be engaged in that specialty in the state of intended employment.
Length of stay
The H-1B visa is initially granted for up to three years, but may then be extended to a maximum of six years.
Financial service options for an H-1B visa holder
Checking and savings accounts
Checking and savings accounts are secure ways to store your money and allow you regular access to the money you have deposited anytime, anywhere.
- Checking accounts are better for everyday, day-to-day transactions such as purchases, bills, and ATM withdrawals. They typically earn less interest or none.
- Savings accounts are better for storing money long term and earning interest, and because of that, there are withdrawal limits.
It is useful to have both a checking and a savings account to keep your money secure, have quick access and save over time.
If you are unsure about whether to open a checking or a savings account, or both, we can help. Contact us today.
Personal loans with an H-1B visa
If you are looking for a way to consolidate debt or make a major purchase, a personal loan can be helpful. With First Tech Personal Loans, you can borrow a lump sum of as little as $500 or up to $50,000 and pay it off at a fixed rate and term.
Home loans with an H-1B visa
At First Tech, the goal is to give you a personal, local experience to make the home loan process as easy as possible. A First Tech Home Loan offers home loan options for you with competitive rates and fast processing. First Tech will guide you through every step of the application process for the loan that fits you best, from scheduling an appointment to signing the closing documents.
First Tech Relocation Program for H-1B Visa Holders
When you decide to relocate, moving your finances should be the least of your concerns. First Tech’s Relocation Program can help you move your money and set you up financially in the U.S.. Our goal is to make it hassle-free for you.
Benefits of working with First Tech when relocating to the U.S.:
- Hassle-Free relocation program for your finances
- Special incentives for employees of certain tech industry companies
- Convenient online banking and support to access your money anytime, anywhere
- Competitive rates for personal, home, and auto loans
- Fast processing of applications
- A personal, local experience catered to you