Most U.S. banks only allow residents to open accounts. However, if you are a non-resident, you still have options and it pays to find the right US bank account for your needs.
There are several viable options for opening a U.S. bank account as a nonresident. This post will cover each option and the most pressing questions on the subject, giving you a clear idea of what each option entails.
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Can Non-Citizens Open a Bank Account in the U.S.
Opening a bank account in the United States as a non-resident can be difficult.
It's not impossible, so don't get discouraged!
Many U.S. banks require proof of address and social security number to set up an account. Given that you won't have these as a non-resident, you'll need to consider other options.
There are several options, and you can learn about them throughout this post.
Ways to Open a Bank Account in the U.S. as a Non-Resident
There are several ways to set up a bank account even if you don't have resident status yet.
If you already live in the U.S. and have proof of address, but have not yet obtained resident status, you can apply for a bank account in person. Conditions may change depending on the state and bank you are dealing with.
Always check with a particular bank beforehand to make sure you don't miss anything.
To open a bank account as a non-resident, you generally need the following documents:
1. Proof of address with contact and personal details
2. Two forms of ID - passport and government issued ID or valid driver's license
3. Social insurance number or personal taxpayer ID number
Be sure to bring your original documents with you as photocopies will not be accepted.
It's worth noting that most banks require an age of 18 or older to open an account. You may also be required to provide a minimum deposit.
How to Apply Without a Social Security Number
Typically, banks will ask for a social security number. Fortunately, there is an alternative called an ITIN.
With an Individual Taxpayer Identification Number, you can set up a bank account. To get one of your hands, fill out IRS Form W-7, IRS Application for an Individual Taxpayer Identification Number. You can find this information on the IRS website.
How to open an international account
One of the benefits of living in a globalized world is that access to international services is simple.
Setting up an international bank account is easier than ever.
This type of account can be useful if you don't have a US address, though there is a caveat - it can be a significant investment.
If you want to go this route, you'll need to throw in a lot of cash to get the ball rolling. Depending on the bank in question, the initial deposit amount can be as high as $35,000⁴ or more.
There is also usually a condition that requires you to maintain a remarkable balance as a minimum.
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