Yes, non-US residents can open a US bank account, but the process is more restricted than it is for citizens and permanent residents

Most major US banks will open an account for a non-resident if you have a US address, a valid passport or national ID, and a tax ID number (either an Individual Taxpayer Identification Number or ITIN). Some banks require an in-person visit; others allow you to open online if you can verify your identity through a video call. The catch: you will face higher fees, lower account limits, and stricter reporting requirements than a US resident would.

The reason for the friction is regulatory. US banks must comply with the Foreign Account Tax Compliance Act (FATCA), which requires them to report accounts held by foreign nationals to the IRS. This makes the account more expensive for the bank to maintain, and they pass that cost to you. Some banks have stopped accepting non-resident customers altogether because the compliance burden outweighs the profit.

Whether you can actually open an account depends on three things: your country of citizenship, whether you have a US address, and which bank you approach. A few banks specialize in non-resident accounts; most do not.

Key Takeaways

  • Non-residents need a US address, valid ID, and a tax ID number (ITIN or SSN) to open most US bank accounts.
  • Banks must report non-resident accounts to the IRS under FATCA, which makes these accounts more expensive and time-consuming for banks to manage.
  • Some banks have stopped accepting non-resident customers; those that do often charge higher monthly fees and set lower transaction limits.
  • You may need to visit a branch in person or complete a video identity verification call, depending on the bank.
  • Citizens of certain countries face additional restrictions or may be unable to open accounts at all due to US sanctions or banking policy.

What you need before you apply

Start with a US address. This can be a residential address, a business address, or even a mailbox service address (like UPS Store or a private mailbox company). Banks will not open an account for someone with no US address at all, because they need a place to send statements and tax documents. If you are moving to the US, you can use your future address if you have a lease or purchase agreement. If you are staying abroad, a mailbox service is your only option.

Next, you need a tax ID. If you have a Social Security Number (SSN) because you worked in the US or have a green card, use that. If not, you will need an ITIN, which the IRS issues to non-residents who have US tax obligations. You can apply for an ITIN through the IRS website or by mailing Form W-7 to the IRS, but the process takes four to six weeks. Some banks will let you open an account while your ITIN application is pending if you provide the application receipt; others will not.

Bring a valid passport or national ID card. The bank will scan or photograph it as part of identity verification. If you are opening the account online, you will likely need to complete a video call with a bank representative who will ask you to show your ID and answer questions about your identity and the purpose of the account.

Which banks accept non-resident customers

Chase, Bank of America, Wells Fargo, and Citibank all have policies that technically allow non-resident accounts, but enforcement varies by branch and by the nationality of the applicant. Call ahead or visit a branch in person to confirm they will open an account for you; do not assume an online application will succeed.

Smaller regional banks and credit unions are often more flexible than national chains, but they may not have the infrastructure to handle FATCA reporting. Ask directly whether they have opened accounts for non-residents before and what their process is.

Online-only banks like Ally, Charles Schwab, and Chime have stricter policies. Most require a US Social Security Number or a US address with a US phone number. Some will not open accounts for non-residents at all. Check their website or call customer service before you start an application.

A few banks specialize in non-resident and expat accounts: HSBC, Wise (formerly TransferWise), and Revolut all serve non-residents, though Wise and Revolut are primarily digital wallets and money transfer services rather than full banks. HSBC has branches in many countries and can sometimes open accounts for non-residents who do not yet have a US address, but fees are high.

Fees and limits you will encounter

Non-resident accounts typically cost more to maintain than resident accounts. Monthly fees range from $10 to $25, compared to $0 to $12 for a standard checking account. Some banks waive the fee if you maintain a minimum balance, which for non-resident accounts is often $2,500 to $5,000.

Transaction limits are also tighter. You may face a cap on the number of transfers you can make per month, or a daily withdrawal limit lower than what a resident would have. Wire transfer fees are often higher for non-residents—$25 to $50 per outgoing wire, compared to $15 to $30 for residents.

Overdraft protection and credit products are rarely available to non-residents. You will not be able to open a credit card or get a line of credit tied to the account. Some banks will not allow you to set up automatic bill payments or recurring transfers.

How to open the account step by step

Call the bank's customer service line and ask whether they open accounts for non-residents. Have your US address, passport number, and tax ID number ready. If they say yes, ask whether you can open online or must visit a branch. If you must visit a branch, ask which branches in your area (or nearest to you) handle non-resident accounts—not all branches do.

If opening online, the bank will send you a link to start the application. You will enter your personal information, address, and tax ID. You will then be asked to schedule a video call with a bank representative. During the call, you will show your ID, answer security questions, and confirm the purpose of the account. The call usually takes 10 to 15 minutes.

If opening in person, bring your passport, proof of address (a utility bill, lease, or letter from your mailbox service), and your tax ID documentation. The bank will verify your identity, run a background check, and open the account on the spot. You will receive a debit card and online banking access within 5 to 10 business days.

After the account is open, the bank will send you a Form W-9 or W-8BEN to complete. This form tells the IRS about your account and your tax status. Fill it out and return it within 30 days, or the bank may freeze your account or close it.

What happens with taxes and reporting

The bank will report your account to the IRS annually under FATCA. This does not mean you owe US taxes—it means the IRS knows the account exists and will cross-reference it with your tax return. If you are a non-resident alien with no US income, you typically owe no US tax and do not need to file a US return. If you have US-source income (wages, rental income, investment income from US sources), you must file a US tax return and report the account.

Your home country may also tax the account or require you to report it. Check with a tax professional in your country before you open the account, especially if you are moving money in and out regularly.

If you close the account, the bank will send you a final Form 1098 or similar document. Keep it for your records in case the IRS asks about the account later.

Countries and situations where you cannot open an account

Citizens of Iran, North Korea, Syria, and Cuba face blanket restrictions due to US sanctions. Most US banks will not open accounts for residents of these countries under any circumstances.

Citizens of other countries may face delays or denials if the bank's compliance team flags your country as high-risk for money laundering or sanctions evasion. This is not a reflection on you personally; it is a regulatory decision by the bank. If you are denied, ask the bank for the reason in writing. You can then appeal or try a different bank.

If you have a criminal record, particularly for financial crimes, you may be denied. Banks run background checks and will reject applicants with certain convictions.

Alternatives if you cannot open a traditional bank account

If a bank account is not available to you, consider a money transfer service like Wise, OFX, or Remitly. These services let you hold US dollars and receive transfers from the US without a full bank account. They charge per transaction rather than a monthly fee, which can be cheaper if you do not need constant access.

A US-based business account is sometimes easier to open than a personal account if you own a business or are self-employed. The requirements are different, and some banks treat business accounts more favorably for non-residents.

If you are planning to move to the US, wait until you arrive and have a US address and Social Security Number. Opening an account as a resident is far simpler and cheaper than doing it as a non-resident.

Frequently Asked Questions

Do I need a Social Security Number to open a US bank account as a non-resident?

No. You can use an ITIN (Individual Taxpayer Identification Number) instead. If you do not have either, you can apply for an ITIN through the IRS before you approach the bank. The process takes four to six weeks by mail.

Can I open a US bank account online if I live outside the US?

Some banks allow it if you have a US address and can complete a video identity verification call. Others require an in-person visit to a branch. Call the bank first to confirm their policy for non-residents opening accounts remotely.

Will opening a US bank account affect my taxes in my home country?

Possibly. Your home country may require you to report foreign bank accounts or may tax the interest you earn. Consult a tax professional in your country before opening the account to understand your obligations.

What if the bank closes my account after I open it?

Banks can close non-resident accounts without cause, though they must give you notice (usually 30 days) and allow you to withdraw your funds. If this happens, ask the bank for the reason in writing. You can then try a different bank or switch to a money transfer service.

Can I use a US bank account to receive payments from my employer outside the US?

Yes. Your employer can wire money to your US account using your routing number and account number. International wire transfers typically take 3 to 5 business days and cost $15 to $50 depending on the bank and the country the money is coming from.