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Can non-U.S. citizens open a bank account?

Sarah C. Brady · Contributor

Thu, Jul 18, 2024 4 min read

If you want to send and receive money while you're in the U.S., it will be pretty hard to do without a bank account. Fortunately, even if you're not a U.S. citizen, you can open a bank account here.

Like getting a driver's license or finding housing, it's harder to open a bank account in the U.S. when you're a non-citizen, but it's certainly possible. You just need to provide some specific documentation and, depending on the bank, you might have to apply in person.

Can a non-US citizen open a bank account?

Non-U.S. citizens can apply for and open bank accounts in the U.S. There are many banks and credit unions you can choose from, though the requirements to open an account vary by financial institution, state, and even type of account. So it's worth looking up the institution's requirements before choosing where to apply.

For example, each bank requires one or more forms of photo identification, but some banks accept a much wider variety of IDs than others. You also typically need to provide your Social Security number (SSN) or Individual Taxpayer Identification Number (ITIN), but you might be able to find a bank that accepts one of these alternatives:

Passport number and country of issuance
Alien identification card number
Government-issued ID number

How to choose a bank

Each bank has something different to offer. So as a non-U.S. citizen, you'll want to do a little research in order to find the best bank for you. Here are the bank policies and checking account details to compare before you choose where to apply:

Required documents
SSN or ITIN requirement
Minimum opening deposit requirement
Minimum account balance requirement
Interest rate (APY)
Account maintenance fees
Wire transfer fees
Currency exchange fees
Language interpretation services (if needed)

Documents needed for a foreigner to open a bank account in the U.S.

Depending on where you apply for a bank account, you may need to provide more than one form of photo ID, along with proof of your U.S. address and your address abroad. Each bank has a different list of documents they accept, but here are some commonly accepted forms of documentation.

One or more forms of photo ID:

Driver's license
Passport
Student ID
Employment Authorization Card

Proof of U.S. address:

Pay stub or paycheck
Lease agreement
Recent utility bill

If you need more options for documentation, here are some financial institutions that accept alternative documents:

How to apply for an ITIN

If you're not eligible for a Social Security number — perhaps because you're a student who is not working while attending school in the U.S. — you'll need to get an ITIN before you can open a bank account.

The process to apply for an ITIN is a bit complicated, and it usually takes seven weeks to receive your ITIN once your complete application is approved. Here's an overview of the process:

File Form W-7 with your federal income tax return.
Include either original documents or certified copies of the documents that prove your identity and foreign status (see a list of acceptable documents here).
Submit your tax return either by mail or in person. To submit in person, visit an IRS-authorized Certifying Acceptance Agent or an IRS Taxpayer Assistance Center.
If approved, you'll receive a letter from the IRS that contains your ITIN.

Benefits of opening a U.S. bank account

Having a bank account — especially a checking account — while you're in the U.S. can make life a lot easier. Here are the benefits you can expect when you open a checking account at a bank or credit union in the U.S.:

Receive payments: Get money faster via direct deposit, including your paychecks.
Send payments: Pay bills from the account with autopay or one-time transfers.
Fewer fees: Avoid foreign transaction fees by using a U.S.-issued account for your purchases. You might also avoid or reduce costly remittance fees by sending wire transfers from your account instead of through a third party.
Access to cash: Get a debit card so you can use the money in the account to make purchases and withdraw cash at ATMs.
Insurance: Most financial institutions provide FDIC or NCUA insurance that protects your deposits up to $250,000 if the financial institution goes out of business.

Alternatives to opening a U.S. bank account

If you have trouble opening an account at a U.S. bank, or you're unable to find an account that meets your needs, you might consider an alternative solution. One option is to open a non-resident bank account or an overseas account with an international bank that does business in your home country and in the U.S.