Yes, but you will need a US address and tax identification
An Australian citizen can open a US bank account, but most banks require a physical US address and a US tax identification number. You cannot open an account from Australia using only an Australian address and passport. The bank needs proof you have a reason to be in the US financial system — either you live there, work there, or have a US business.
The two main routes are: get a US address first (through employment, rental, or a US mailing service), then apply in person or online; or use a bank that accepts international customers without requiring you to be physically present. The second route is narrower and comes with higher fees and account restrictions.
Key Takeaways
- Most US banks will not open an account for you without a US street address, not a PO box or Australian address.
- You will need either a Social Security Number (if you work in the US) or an Individual Taxpayer Identification Number (ITIN) to open the account.
- Banks that do accept international customers typically charge higher monthly fees and may limit what you can do with the account.
- Opening an account in person at a branch is faster and faces fewer rejections than applying online from abroad.
- Some Australian banks have US correspondent relationships that let you move money to a US account, but this is not the same as opening a US bank account yourself.
Getting a US address and tax ID before you apply
The first step is securing a US address. If you are moving to the US for work, your employer may help you find housing or provide a temporary address. If you are relocating on your own, you can rent an apartment, house, or even a short-term furnished rental — any physical street address in a US state will work. Some people use a UPS Store mailbox address, but most banks will reject this because it is a commercial mailbox, not a residential or business address.
Once you have the address, you need tax identification. If you will be working in the US, apply for a Social Security Number through the Social Security Administration once you arrive. This takes two to four weeks. If you are not working in the US but still need to open an account, you can apply for an Individual Taxpayer Identification Number (ITIN) through the IRS. An ITIN is designed for non-US residents who have US tax obligations or need to open financial accounts. You apply by mail using Form W-7 and a copy of your passport; processing takes four to six weeks.
Some banks will let you open an account with just your passport and US address, then add your Social Security Number or ITIN later once you have it. Call the bank's customer service line before you visit a branch to confirm what they will accept at the time you plan to apply.
Opening an account in person versus online
Walking into a US bank branch with your passport, US address, and tax ID (or a pending application for one) is the fastest and most reliable method. The branch staff can verify your identity on the spot, confirm your address, and open the account the same day. You will need to bring your passport, proof of your US address (a lease, utility bill, or bank statement), and your tax ID number or a receipt showing you have applied for one.
Applying online from Australia is possible with some banks, but rejection rates are higher. The bank's system may flag your application as high-risk because you are applying from outside the US, and the automated verification process may not recognise your Australian passport or address. If you do apply online, use a US address and have your tax ID ready. Be prepared for the bank to ask you to visit a branch in person or provide additional documents by mail.
Major banks like Chase, Bank of America, and Wells Fargo generally require in-person opening for international customers. Smaller regional banks and online-only banks like Ally and Charles Schwab are sometimes more flexible, but policies change frequently. Contact the bank directly before you apply.
Banks that accept international customers
A small number of US banks will open accounts for non-residents without requiring a US address upfront. These include some online banks and banks with strong international operations. However, these accounts come with trade-offs: higher monthly maintenance fees (often $15 to $25 per month), lower interest rates on savings, and restrictions on what you can do — for example, you may not be able to apply for a credit card or overdraft facility.
Charles Schwab is one of the few mainstream options that accepts Australian residents and does not charge monthly fees, but you still need to provide a US address or a US phone number and be willing to verify your identity through their process. Wise (formerly TransferWise) offers a US bank account number to international customers, but this is not a full bank account — it is a holding account designed for receiving and sending money, not for everyday banking.
Before opening an account with an international-friendly bank, read the fine print carefully. Some accounts are designed for temporary visitors, not long-term use, and the bank may close your account if you do not maintain a minimum balance or do not use it regularly.
What documents you will need
| Document | Why the bank needs it | Notes |
|---|---|---|
| Passport | Proof of identity and citizenship | Must be valid. Some banks will accept a driver's license if you have one. |
| US address proof | Proof you have a reason to be in the US financial system | Lease, utility bill, or bank statement dated within the last 90 days. PO boxes do not count. |
| Social Security Number or ITIN | Tax identification for the IRS | If you do not have one yet, bring a receipt showing you have applied, or ask the bank if they will open the account pending receipt of the number. |
| Employment letter (optional) | Proof of income and reason for being in the US | Helpful if you are opening the account as a new employee. Not always required. |
Moving money from Australia to your US account
Once your US account is open, you can transfer money from Australia using an international wire transfer. Your Australian bank will need your US bank's routing number and your account number. Wire transfers typically take one to three business days and cost $15 to $50 depending on your Australian bank.
Alternatively, you can use a money transfer service like Wise, OFX, or Remitly, which often offer better exchange rates and lower fees than a traditional wire transfer. These services take one to two business days and charge $5 to $15 for transfers under $10,000.
Do not use your Australian credit card to fund the US account directly — most US banks do not accept international credit cards for deposits, and if they do, they charge a foreign transaction fee. Stick to bank-to-bank transfers or a dedicated money transfer service.
Tax obligations once you have a US account
Opening a US bank account does not automatically make you a US taxpayer. However, if you earn income in the US or have US-source income (such as interest from the account itself), you may owe US taxes. You will need to file a US tax return if your income exceeds the threshold for your filing status.
As an Australian resident, you also remain subject to Australian tax on your worldwide income. The US and Australia have a tax treaty that prevents double taxation, but you will need to report the account to both tax authorities. The US requires US citizens and residents to report foreign bank accounts over $10,000 to the Financial Crimes Enforcement Network (FinCEN) using Form 114 (FBAR). If you are an Australian citizen living in Australia, you do not file FBAR, but you should confirm your tax residency status with the ATO and the IRS.
Consult a tax professional who understands both US and Australian tax law before you open the account. The cost of advice now is far less than the cost of filing incorrectly later.
Frequently Asked Questions
Can I open a US bank account without a US address?
Most mainstream banks will not. A few online banks and international-friendly banks will, but they charge higher fees and may restrict what you can do with the account. Your best option is to secure a US address first, either through employment, rental, or a temporary arrangement.
Do I need a Social Security Number or can I use my passport?
You need either a Social Security Number (if you work in the US) or an ITIN (if you do not work but need a tax ID). Your passport alone is not enough for tax purposes. Some banks will let you open the account with just your passport and address, then add your tax ID later, but this is not may provide.
How long does it take to open a US bank account?
In person at a branch: same day or next business day. Online from Australia: one to two weeks if approved, or longer if the bank asks for additional documents. Getting an ITIN takes four to six weeks by mail.
What if my bank rejects my application?
Ask the bank why. Common reasons are a missing US address, no tax ID, or a flag in their fraud detection system. If you can fix the issue (add an address, get an ITIN), reapply. If the bank will not budge, try a different bank or an online-only option.
Do I have to pay US taxes on money in my US bank account?
You pay tax on income earned in the US or on US-source income (like interest). Simply holding money in the account is not taxable. However, you must report the account to the IRS if you are a US citizen or resident, and you may need to report it to the ATO as well. Speak to a tax professional about your specific situation.