The [Best Way] to Open a US Bank Account as a Non-Resident: An Easy Guide

Who can benefit from having a US bank account?

1. People living abroad who need to make payments in USD

People living abroad who need to make payments in USD may include international students, expats, digital nomads, travelers, and business owners. International students may need to pay tuition fees, book flights, and/or transfer funds to family members back home. Expats may need to pay rent to a US-based landlord, transfer money to loved ones abroad, and/or exchange currency for international transactions. Digital nomads may need to pay contractors, send payments to clients, or buy products and services in USD. Meanwhile, travelers may need to pay for hotels, flights, car rentals, and other travel expenses in the US. Business owners may need to pay business partners, suppliers, and/or contractors, as well as accept payments from customers. Using a multi-currency account from an e-money institution may provide a cost-effective solution for all of these types of payments in USD.

2. People who want to invest in USD

Who can benefit from having a USD bank account? [Expanded list]

1. Freelancers and business owners who are looking to expand their client base and international reach.
2. Entrepreneurs and small business owners who require access to the US economic ecosystem for their business operations.
3. Individuals or businesses dealing with different currencies often, as it offers competitive exchange rates and minimal to zero fees.
4. People who require access to the world’s strongest currency – the US dollar – are able to do so with a USD bank account.
5. Businesses or individuals looking to protect their privacy, as the US does not share any information regarding its taxpayers with other countries.
6. People who need to transfer money from their US bank account to their home currency, as it offers more competitive exchange rates and lower fees compared to wire transfers.
7. Those involved in E-commerce/FBA businesses, as it provides a convenient way to convert their money from USD to their local currency.
8. People who need to withdraw funds from PayPal, Stripe, or Amazon, as it is only possible with a real US bank account.

3. Those who want to take advantage of the convenience of online banking

Anyone who wants to make their life easier and manage their finances more efficiently can benefit from having a US bank account. Having a US bank account makes it easier to pay bills, make online purchases, receive direct deposits, and transfer money. It also provides access to international institutions, agencies, and businesses. Plus, many US banks and neobanks have a reputation for being quicker and more efficient when processing transactions, making payments and deposits much faster and smoother. Additionally, having a US bank account also offers people access to convenient banking services like Mobile Banking apps, debit cards, digital wallets, and checkless banking. Finally, many online banking services, like Globalfy, do not charge maintenance fees which makes it more cost-effective.

4. People who want to take advantage of the safety and security of a bank vault

Who are the people who benefit from having a bank vault account?

Having a bank vault account can provide a number of benefits for U.S. citizens, immigrants, students and others. U.S. citizens and immigrants can benefit from increased financial security, convenience for receiving and spending money, and eligibility for other financial products such as mortgages and car loans. Students can benefit from having an account to easily access their funds, track their money, and avoid costly check-cashing services. Furthermore, those with money market accounts can benefit from the combination of checking and savings account features, while still being subject to federal regulations. Ultimately, with a bank vault account, anyone can benefit from the protection and convenience of financial management.

5. People who want to make USD payments for bills and expenses

Who can benefit from having a US bank account to make USD payments for bills and expenses? People who receive payments in USD from customers around the world, businesses that need to make payments to suppliers or customers in USD, and individuals who want to save on currency exchange fees can all benefit from having a US bank account. Setting up a US bank account allows you to pay bills and expenses in USD, which is especially useful for those who don’t reside in the US or have a US residency. With a Wise account, you will be able to get US bank details so you can receive USD from anywhere in the world and get competitive exchange rates. For businesses, Payoneer offers an excellent platform to access 11 of the world’s most useful currencies, including USD. Additionally, Payoneer can save you money by avoiding the expensive currency exchange fees associated with wire transfers.

6. People who want to take advantage of the low ATM fees of some banks

The benefits of having a US bank account are numerous. Some of these include:

1. Access to a network of ATMs for easy access to funds and everyday transactions.
2. Free ATM withdrawals when using BoA ATMs.
3. Low or no monthly maintenance fees for certain accounts.
4. Ability to earn interest on savings accounts.
5. Flexibility in money transfers abroad with competitive foreign exchange rates.
6. No fees for withdrawing money up to a certain limit.
7. Dedicated customer service when needed.
8. Possibility of avoiding currency conversion fees.
9. Security and protection tools available through the banking app.
10. Potential discounts and other benefits when enrolled in the Preferred Rewards program.

7. People who want to earn interest on their USD holdings

Having a US bank account can be hugely beneficial for people looking to earn interest on their USD holdings. This is because the US dollar is the world’s banking currency and highly trusted for transfers. US banking is also smooth and efficient, and the US does not provide any info to other countries about their taxpayers, meaning you can enjoy a great deal of privacy with a US bank account. Money Market Accounts offer the best of both worlds bundling both checking and savings account features into a single deposit account. This means you can earn interest on the balance while also being able to spend the money in your account with a debit card or checkbook. Furthermore, local credit unions in your community or on campus could also offer ways to open bank accounts with better rates like higher interest rate for savings and lower interest for loans. All of this makes having a US bank account very beneficial for earning interest on USD holdings.

8. People who want to have access to a wide range of banking services

US banks offer a variety of banking services to their customers, including savings, bill payments, mortgages, loans, and more. These services are protected up to a certain amount – usually $250,000 – by the Federal Deposit Insurance Corporation (FDIC). To open an account with a traditional or high street bank in the US, a good credit score and a social security number (SSN) are typically required. However, some high street banks like Wells Fargo, Bank of America, Chase, and CitiBank offer bank accounts to immigrants, international students, and new arrivals even if they do not have a social security number.

In addition, online services like Wise and Sable are changing the banking landscape for immigrants and international students by offering accounts with no credit checks or social security numbers required. These services typically provide debit and prepaid credit cards, as well as the ability to send money abroad affordably.

For those looking for more comprehensive banking services, there are specialized accounts available from international or expat banking arms of global banks. These usually require a large initial deposit, often up to $100,000, and often require customers to maintain a significant balance.

Finally, with services like Globalfy, customers can open a US bank account online without having to visit a traditional branch or contact a representative. Globalfy offers customers a dynamic banking experience with fast answers and solutions, all without the need for a physical infrastructure.

What are the steps to open a US bank account as a non-resident?

Step 1: Determine the type of US bank account you need

When opening a US bank account as a non-resident, it’s important to first determine which type of account you will need and assess your eligibility status. To do so, you’ll need to consider the kind of banking services you need and what your US residency status is.

Once you’ve made the decision to open a US bank account, you’ll need to provide a couple of forms of identification. This includes your full US address and contact information, two forms of ID such as a passport or driver’s license, a valid visa or Green Card, and an ITIN or Social Security Number (SSN). It is also worth having some cash available to make an initial deposit.

There are two main types of bank accounts in the US: personal accounts and business accounts. Personal accounts are geared towards individual financial goals and include both checking and savings accounts. Checking accounts are the most common and are for your main income and expenses, while a savings account gains interest over time and is for money that you don’t plan on spending. Checking accounts will typically require an initial deposit to activate the account.

To open a bank account in the US, you will need to visit the bank of your choice and provide your SSN, a valid, government-issued photo ID, and the minimum opening deposit which varies from bank to bank. You can pay the deposit using a credit, debit, or prepaid card, or you can transfer the money from another account. If you already have a bank account outside of the US, it’s worth asking if that provider has a relationship with a US-based bank.

By following these steps, you can determine the type of US bank account you will need when opening one as a non-resident.

Step 2: gather the required documents

Opening a bank account in the US as a non-resident requires certain documents in order to be accepted by the bank. To open a US bank account, you will need to provide official, government-issued photo identification, proof of U.S. address, and two forms of identification.

For photo identification, you can provide a driver’s license with photo, Matricula Consular Card, passport with photo, student ID with photo, or U.S. Employment Authorization Card with photo. For proof of U.S. address, you can provide utility bills dated 60 days or sooner, employer’s pay stub or paycheck, letter with name and address, or other documents with your name and address.

You will also need two forms of identification, such as a valid driver’s license, passport or other official government identity document, Social Security Number (SSN) or individual taxpayer identification number (ITIN), debit/credit card from your home country, immigration documents, and proof of income. Additionally, some banks may ask you to provide evidence of both a US and foreign address in order to open an account.

Before opening a bank account in the US, make sure you have all the necessary documents and confirm with the bank what type of documents you’ll need. It’s also a good idea to have some cash handy since you may need to make an initial deposit to set up the account.

Step 3: Apply for the US bank account

If you are a non-resident planning to move to the US, you can apply for a US bank account in two ways: online or through an international bank’s global branch.

Applying online with financial institutions focused on international customers or US newcomers is the simplest way to open a US bank account as a non-resident. You will need to provide a scanned copy of your passport and US visa as part of the application process. You may also need to provide documentation to validate your name, current US address, date of birth, etc. In some cases, the financial institution may request a secure video call to confirm a few personal details, validate your passport and take a selfie for your photograph.

Alternatively, you can open a US bank account through an international US bank’s global branch in your home country. The financial institution may request additional documentation such as a US Visa, Passport, or other identification documents. This is a good option if you want to open a bank account before arriving in the US.

Once you are a US resident, you can open a US bank account in the US by providing your full US address, two forms of ID such as a passport or driver’s license, a valid visa or Green Card, and your ITIN or Social Security Number (SSN). You may also need to make an initial deposit to set up an account.

It is also possible to open a US bank account remotely from abroad, although it can be hard to find a traditional bank which will let foreigners get full access to an account online. Consider using a digital account provider instead, as these usually offer ways to get set up with accounts online or through apps.

Step 4: Wait for the approval letter

It takes 1 to 3 business days to receive an approval letter for a US bank account as a non-resident, provided no additional documentation is required. To increase your chances of being approved, make sure to include a passport photo that is not cropped too much and is in JPG or PNG format, and provide documents in PDF format that are legible and include all edges and corners. Additionally, include a website link, and a detailed description of your business that includes any links to yourself or your work. You will need to provide Mercury with your LLC’s address, along with a stamped and approved copy of your LLC approval documents. For identification, you will need to provide a passport, your phone number and other contact information. Also, if you need an EIN for your LLC, you will need to provide proof of your LLC EIN number. After submitting your application, make sure to check your email and click the verification link, enable 2-factor authentication, add any team members (if applicable) and choose an address where you want your debit card mailed. The entire process should not take more than 7 minutes and should take up to 1-2 weeks to receive approval. If you are stuck anywhere, you can always email or join live chat for faster approval.

Step 5: Go to the chosen bank and open the account

Opening a US bank account as a non-resident can seem like a daunting task, but it doesn’t have to be. Here is a step-by-step guide to help you open a US bank account as a non-resident.

Step 1: Research different banks and decide which one is right for you. Consider factors like fees, services, and customer support.

Step 2: Gather the required documents, such as your Social Security Number (SSN), a valid government-issued photo ID (driver’s license, passport or state or military ID), and a minimum opening deposit to activate your account.

Step 3: Visit the bank in person and present the documents. You may need to provide additional documents to verify your identity.

Step 4: Open your account. This can usually be done online or through telephone banking, depending on the bank you choose.

Step 5: Activate your account. This can be done by transferring money from another account or using a debit or credit card.

Step 6: Start using your account. You will be given an ATM/debit card and other information that you need to use your account.

Following these steps should help make the process of opening a US bank account as a non-resident much easier.

Best options for opening a US bank account as a non-resident

1. Bank Account Through a US-Based Account Provider

2. Bank Account Through a Foreign Bank

Step 1: Consider Relying on a Bank in Your Home Country: Depending on the bank, you may be able to open a US bank account without having to travel to the US. Some foreign banks have relationships with US banks and may be able to help with the process.

Step 2: Open an Offshore Account: An offshore account is an option for those who cannot qualify for a US bank or credit union account. This type of account is at a bank that is not in your home country or in the country where you are living. Note that the income and deposit requirements for these accounts are often quite high.

Step 3: Research US Banks or Credit Unions: Before you open a US bank account, make sure you research the different fees and requirements at various banks or credit unions and what services may or may not be offered depending on where you live, work, travel, or conduct business in the US.

Step 4: Visit a Local Branch of an International Bank: If you want to open a bank account from abroad, you can visit the local branch of an international bank in your home country.

Step 5: Open a Borderless or Passbook Account: This can be a great way to manage your US spending while abroad. Borderless and Passbook accounts can usually be opened online from wherever you are in the world.

Step 6: Inquiry with Your Home Bank: If you already have a bank account outside of the US it’s worth asking if that provider has a relationship with a US-based bank. Sometimes banks work in partnership to help customers open accounts overseas.

Step 7: Choose an International Bank: Many banks with a global presence offer international accounts that can be opened from your native country. HSBC, Charles Schwab, Citibank and TD Bank are among the leading banks with a global presence in the United States and beyond.

Step 8: Follow the Bank’s Process: Once you have chosen a bank, follow the process they have set out for opening a US bank account. This process can vary depending on the institution, so make sure you understand what is required before you begin.

3. Bank Account Through a Credit Union

Opening a bank account through a credit union as a non-resident can be a great way to gain financial security, access direct deposit, manage bills, and build a financial history. Here are the steps to follow to open a bank account through a credit union as a non-resident:

1. Research credit unions in your area to find one that offers bank accounts to non-residents.
2. Contact the credit union to find out what documents you’ll need to open the account. Most credit unions require two forms of identification, such as a passport and driver’s license.
3. Gather any other documents required by the credit union, such as proof of address or proof of income.
4. Visit the credit union in person to apply. You may need to fill out an application form.
5. Provide the credit union with all the documents it needs.
6. Fund the account with your initial deposit.
7. Set up an online banking account so you can manage your account online and use the debit card that comes with the account.
8. Start using your account and enjoy the benefits of having a bank account.

4. Bank Account Through a Brokerage

Opening a bank account through a brokerage for non-residents is possible and a great way to securely manage your finances. The process is straightforward, but there are some important steps to take to ensure you’re set up properly. Here is a step-by-step guide to opening a bank account through a brokerage for non-residents:

1. Choose a Brokerage: Choose a brokerage that you trust and can rely on for sound advice and services. Make sure the brokerage is regulated and insured and has built a good reputation for its services.
2. Gather Documentation: Collect your identity documentation such as a valid passport, driver’s license, birth certificate, or other documents. You may also need to prove your address with a utility bill or bank statement.
3. Complete the Application: Fill out the application with the brokerage and make sure all the information is correct. You may have to provide additional information and documents during the application process to be approved.
4. Fund the Account: You can fund the account with a wire transfer or by using a third-party payment service. Make sure you check with the brokerage to find out what payment methods they accept.
5. Monitor Your Account: Once the account is setup, you should monitor your account regularly. Make sure the money is being invested properly and that you’re making wise decisions with your finances.

By following these steps, you can quickly and easily open a bank account through a brokerage for non-residents. Make sure you choose a reputable brokerage and understand the risks involved with investing. With the right guidance and information, you can securely manage your finances and make wise investments.

5. Bank Account Through Paypal

Step 1: Find an online-first banking platform such as Mercury or Relay, both of which offer non-resident business bank accounts.

Step 2: The platform will require certain details such as your name, contact information, local bank account details, and a valid ID proof to open the bank account.

Step 3: Once you have provided all the necessary information, the bank will review your application and approve your account.

Step 4: After the account has been successfully created, you can then link it to PayPal, Stripe, or Amazon.

Step 5: To withdraw funds from PayPal, Stripe, or Amazon, you can then link the bank account to Wise/Payoneer to convert USD to your local currency for further savings on currency conversion.

Step 6: Once the funds have been transferred, you can then use the local bank account to pay bills online or by check instead of having to use money orders or other services that may have additional fees.

6. Bank Account Through a Prepaid Card

Opening a bank account as a non-resident is possible through a prepaid debit card. Here’s a step-by-step guide to get you started:

1. Choose a prepaid debit card provider. Check out the features offered by various providers to find the one that best suits your needs.
2. Apply for the prepaid debit card. You will typically need to provide personal information, such as your name, address, and Social Security number. You may also be asked to provide proof of identity and proof of address.
3. Activate your prepaid debit card. Once you have received and activated your prepaid debit card, you can start using it to make purchases or pay bills.
4. Link your prepaid debit card to a bank account. Before you can use it to make deposits or withdrawals, you will need to link the card to a bank account. This can be done online or in person.
5. Make deposits. Deposits can be made to your bank account through your prepaid debit card. This can be done online or in-person by transferring money from your bank account to your prepaid debit account.
6. Make withdrawals. Withdrawals can be made from your bank account through your prepaid debit card. This can be done online or in-person by transferring money from your prepaid debit card to your bank account.
7. Use your prepaid debit card to make payments. You can use your prepaid debit card to pay for goods and services online or in person. This can be done with a few simple steps.

With the right prepaid debit card and bank account, it is now easier than ever for non-residents to open a bank account. By following these steps, you can easily set up your bank account and start using it right away.

7. Bank Account Through a Wealth Management Company

If you are a high net worth expat looking to open a bank account in the US, you have limited options. One of the best options is to open a Savings and Wealth Management Account through a wealth management company such as Wise. This account allows you to hold and manage money in over 50 different currencies and receive payments into your account via ACH routing number and US bank account number.

Here’s a step-by-step guide to opening a Wise Savings and Wealth Management Account if you are not a US resident:

1. Open an account with Wise: Go to Wise.com and select “Get Started.” You will be asked to provide some personal information, including your name, address, phone number and email. You will also need to provide a valid ID and other documents such as your passport.
2. Transfer funds into your account: You will need to transfer funds into your account in order to use it. You can do this by linking a bank account or using a debit or credit card.
3. Activate your account: Once you’ve transferred funds, Wise will activate your account. You will then receive a US routing number and bank account number, as well as a Wise debit card.
4. Get paid: Now that you have a US bank account, you can receive payments from anywhere in the world. All you need to do is provide the routing and account numbers to the sender.
5. Convert currencies: You can also use Wise to convert currencies and transfer funds to other countries. All you need to do is select the currency you want to convert and enter the amount.

With Wise, you can manage your money wherever you are, receive payments in USD and convert currencies at the real mid-market exchange rate with no hidden fees or surprises.

8. Bank Account Through a Payment Processor

Step 1: Choose an online-first banking platform such as Mercury or Relay that allows you to open a US bank account without being a US resident.

Step 2: Provide the required information, such as your name, contact information, local bank account details, and proof of identity.

Step 3: Fill out the application form and follow the instructions provided by the platform.

Step 4: Once your application has been accepted, you will be able to access your US bank account and start using it to pay bills, transfer funds, and more.

Step 5: Withdraw your funds using a third-party money transfer service such as Wise or Payoneer.

Step 6: Use your US bank account to pay for services such as Stripe, PayPal, Google, and Facebook in USD, and avoid conversion fees.

9. Visa Signature Credit Cards

Visa Signature Credit Card for non-residents offers a variety of features and benefits for those who don’t have a US Social Security number. With this card, you can enjoy:

1. No fee to sign up and a fully functioning checking account backed by Coastal Community Bank
2. Design to help build credit scores
3. Funds insured up to $250,000 by the FDIC
4. No minimum balance
5. Easy application and approval for immigrants and international students
6. Debit and credit card (secured credit card) with no foreign transaction fees
7. Integration with Venmo, CashApp, and Zelle
8. Compatibility with Apple Pay, Google Pay, and International transfer through Wise to 55 countries
9. Acceptance in more than 50 million businesses worldwide
10. Unlimited free calls to Mexico, Canada, and 20+ more countries
11. Secure current account with a licensed bank
12. Multi-lingual banking advisors
13. No SSN is required at sign-up

10. Mastercard Business Credit Cards

As a non-resident, there are several options for opening a Mastercard business credit card. First, Chase for Business is a great option, as it’s one of the most well known banks in the US and has a relatively low daily balance requirement of $2,000 to avoid the $15 fee. You’ll need to visit in person to complete your account registration, however. Additionally, Citibank also allows you to open a company account with your LLC, and is a very international bank with branches all over the world. Their most basic account has a monthly fee of $15, which can be waived if you maintain a $5,000 account balance. Lastly, Payoneer offers an excellent platform to access 11 currencies for business, including USD, and you won’t be charged any interchange fees.

FAQ

What documents do I need to open a US bank account as a non-resident?

If you are a non-resident looking to open a bank account in the US, you will need to provide certain documents. These documents may vary depending on the bank, so it is best to contact your bank to confirm which documents are required. Generally, you will need to provide: proof of address with contact information and personal details, two forms of ID such as a passport and government-issued ID or valid driver’s license, a Social Security number or Individual Taxpayer Identification Number, and immigration documents. Additionally, some banks may require you to provide additional documents such as a utility bill, or a minimum opening deposit. It is important to contact your bank ahead of time to verify the exact requirements for non-residents and book an appointment, as banks may have different requirements per branch or state.

What type of bank account should I open as a non-resident?

If you’re a non-resident looking to open a US bank account, you have several options. Most small banks only allow US citizens and permanent residents to open up bank accounts, however larger banks such as US Bank, TD Bank, Bank of America, Chase, and Wells Fargo will allow non-residents to set up a checking account and a savings account.

For those who’d rather not open a traditional bank account, there are alternatives such as a multi-currency account, an international account, and a correspondent account.

When comparing the different options, it’s important to consider the type of account you want, such as a checking or savings account. International banks are an established option that offer the ability to hold funds which can be easily accessed for transactions, while a multi-currency account might be better suited for those who need to store funds to build up money over time.

Ultimately, a Wise borderless account might be the best option for non-residents, as it offers US details without the need for bank appointments or additional paperwork. Plus, you can start spending as soon as you arrive in the US.

What information do I need to provide to open a US bank account?

Opening a bank account in the US requires a few steps and some documentation. To open a US bank account you will need to provide your Social Security Number (SSN), a valid, government-issued photo ID (such as a driver’s license, state ID or passport), proof of US and foreign address, a valid debit or credit card from your home country, a minimum opening deposit, immigration documents, and possibly proof of income. Additionally, you will need to provide your full name, date of birth, phone number, and an Alien Identification Number or passport.

The process for opening a bank account will differ depending on the bank you choose. It is best to contact the bank you plan to open an account with to find out what documents are required. Furthermore, you must be living in the US in order to open a bank account.

Once you have gathered the required documents, you can open a bank account in person or online. If opening an account in person, you may need to make an initial deposit, which can be done through a bank transfer or by depositing cash at the bank’s physical branch. Once you have provided the necessary documents and have made the required deposit, the bank will open your account and you can begin using it.

Is there a minimum deposit to open a US bank account?

Yes, there is a minimum deposit required to open a US bank account. Generally, banks require a minimum deposit of $25 to activate an account. However, the exact amount may vary from one bank to another and larger deposits may be required for international accounts. Additionally, some banks may also require proof of funds for large cash deposits or deposits from wire transfers.

What are the fees associated with a US bank account?

Using a US bank account can come with a variety of fees, such as maintenance fees, ATM fees, international transfer fees, overdraft fees, and foreign transaction fees. Maintenance fees can range from nothing to as high as $15 per month, ATM fees can range from free to $5 per transaction, international transfer fees can range from free to a “hidden fee” in the form of a poor exchange rate, overdraft fees can range up to $35 per incident, and foreign transaction fees can range from none to a percentage of the amount in US dollars. Banks may waive or reduce some of these fees if certain requirements are met, such as maintaining a minimum balance, setting up a direct deposit, or enrolling in paperless statements. Additionally, it is important to consider the minimum deposit, monthly maintenance fee, number of free ATMs, transfer fees, additional fees, and FDIC insurance when choosing a bank account as a non-US resident.

How do I access my US bank account online?

Step 1: Research and Choose a Bank

The first step to accessing your US bank account online is to research and choose a bank. You can choose from traditional banks or digital account providers, depending on your needs and preferences.

Step 2: Gather Documents

Once you have chosen a bank, you need to gather the necessary documents, such as a passport and US visa. These documents are needed to verify your identity and US residency status.

Step 3: Apply Online

Next, you will need to apply for your US bank account online. Depending on the bank, you may need to provide additional documentation or participate in a secure video call.

Step 4: Activate Your Account

After you have applied and received your debit card, you will need to activate your account. This is usually done by logging into the bank’s website or mobile app and entering your card information.

Step 5: Set Up Security Features

To ensure the security of your account, you should set up security features such as two-factor authentication. This will help protect your account from unauthorized access.

Step 6: Start Using Your Account

Once your account is set up and secured, you can start using your account online. You can make transfers, pay bills, and more.

Do I need a visa to open a US bank account?

Yes, you need a valid US visa to open a US bank account. Non-residents, such as foreign citizens, can open a bank account in the US as long as they meet the bank’s criteria. This often includes proof of residency and an ITIN number. However, if you want to open a bank account before you move to the US, your options are more limited. You will need to provide a scanned copy of your passport and US visa when you’re applying for the US Bank account online to verify your identity and US residency status.

How can I deposit money in my US bank account?

Do I need a US address to open a US bank account?

Yes, you do need a US address to open a US bank account. Most banks will ask for a US address as well as proof of a foreign address in order to open an account. You may also be asked to provide a valid driver’s licence, passport or other official government identity document, SSN or ITIN, debit/credit card from your home country, deposit payment, immigration documents, and proof of income. To our knowledge, the bigger banks like Chase Bank, Bank of America, and Citibank are open to non-residents, however smaller and more local banks may have a lower risk threshold and will likely turn you away if you don’t have a US address.

Are there any special requirements for non-residents to open a US bank account?

Are there any special requirements for non-residents to open a US bank account? The answer is yes. Non-residents may need to provide a US address for correspondence, even if they are not living in the US full-time. They may also need to provide supporting documents as evidence that they meet certain criteria such as working for a significant time in the US, being a customer of the international bank in other countries, or owning a property or home in the US. It is also possible to open a US bank account as a non-resident and non-citizen, but the process may be a bit more complicated. For example, non-residents may need to go through additional background checks and formalities. Additionally, while US citizens can easily open an account online, non-residents may take a few days to open a real business bank account fully online without having to visit the US.