A bank account can help set a solid foundation for your financial life. Fortunately, a non-U.S. citizen can open a bank account in the U.S. However, they may need to come up with different identification than U.S. citizens who are trying to open a bank account.
Under the USA PATRIOT Act, banks, credit unions and some other financial institutions must check the identity of anyone who wants to open a bank account. Federal lawmakers imposed that requirement following Sept. 11, 2001 to combat the funding of terrorist activities. Foreign terrorists who carried out the 9/11 attacks used U.S. bank accounts to fund their mission.
When you apply to open a checking or savings account at a bank or credit union in the U.S., the financial institution will need to verify your name, date of birth, address and ID number. If you’re a non-U.S. citizen, ID requirements may not be identical to those for a U.S. citizen, though.
Keep in mind that a financial institution may let a non-U.S. citizen open an account, but not all banks extend that ability to a non-resident alien. For tax purposes, the IRS defines an alien as someone who is not a U.S. citizen or U.S. national. A non-resident alien has not passed the green card test or the “substantial presence” test.
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Requirements for Opening a Bank Account
A bank or credit union’s general requirements to open an account may include:
- Your contact information, such as name, address and phone number
- At least two forms of government-issued ID, such as a valid driver’s license or passport
- Social Security number or Individual Taxpayer Identification Number (ITIN) (If you’re a non-citizen and don’t have a Social Security number, you’ll likely need to have an ITIN.)
- Utility bill with current address
- Cash deposit (normally $25 to $100)
Requirements may vary depending on the state or financial institution.
Whether you’re a U.S. citizen or non-U.S. citizen, you typically must be at least 18 years old to set up a checking or savings account and typically must have a U.S. address. It also is possible for an undocumented immigrant—a foreign-born person who has no legal right to be or remain in the U.S.—to open a bank account in the U.S. Key requirements include having an ITIN and a U.S. address.
In most cases, a non-U.S. citizen cannot open an account online. Instead, you’d need to visit a branch for a bank or credit union to open an account. Santander Bank, for example, accepts online applications only from U.S. residents or resident aliens who have a Social Security number or ITIN.
Alternatives for Identification
Banks and credit unions typically accept alternative forms of ID for non-U.S. residents.
For instance, if you don’t have a Social Security number, you may be able to obtain an ITIN that can be used to open an account. The Social Security Administration issues nine-digit Social Security numbers, while the IRS issues nine-digit individual ITINs. ITINs are available only to certain non-resident and resident aliens, their spouses and their dependents who can’t get a Social Security number.
Some financial institutions won’t accept an ITIN in place of a Social Security number.
Requirements for other types of ID from non-U.S. citizens can vary among banks and credit unions. Bank of America, for example, spells out these identification requirements.
For a primary ID, Bank of America wants one of the following:
- Foreign passport with or without a visa.
- U.S. non-immigrant visa and border crossing card.
- Mexican, Guatemalan, Dominican or Colombian consular ID.
- Canadian citizenship certificate card.
For a secondary ID, Bank of America asks for one of the following:
- Foreign driver’s license (or U.S. driver’s license).
- U.S.-issued work ID card or badge.
- Debit or major credit card bearing a Visa or Mastercard logo.
- Retail credit card from a nationally known company.
- Major retail credit card from a nationally well-known company.
- U.S. State Department ID.
- Mexican voter registration card.
Some banks or credit unions may accept an alien registration number card from a non-U.S. citizen who’s trying to open an account. The seven- to nine-digit alien registration number can be found on various documents, such as a green card, from the U.S. Citizenship and Immigration Services.
How To Apply for an ITIN
Here are the steps for getting an ITIN:
- Fill out a W-7 application form and submit it to the IRS along with your completed tax return. You don’t need to apply for an ITIN at an IRS location. However, you can file the application in person.
- Submit original documents that verify your identity and your status as a foreigner. The IRS accepts 13 documents for this verification process.
Banks and Credit Unions That Accept Alternative IDs
Many large banks in the U.S. accept alternative IDs from a non-U.S. citizen trying to open an account. These include Bank of America, Chase, TD Bank, US Bank and Wells Fargo.
Some credit unions also accept alternative forms of ID. The more than 100 banks and credit unions affiliated with the BankOn platform, which helps low- to moderate-income people set up bank accounts, also may accept alternative IDs.
Alternative Accounts for Non-U.S. Citizens
If you’re a non-U.S. citizen who can’t qualify for an account at a U.S. bank or credit union, you might consider these options:
- Rely on a bank in your home country. Some foreign banks have relationships with U.S. banks. If your bank is one of them, it might be able to help you open an account at a U.S. bank.
- Open an offshore account. This type of account, also known as an overseas account, is at a bank that’s not in your home country or in the country where you’re living. The income and deposit requirements for these accounts can be quite high, though.
Benefits of Opening a Bank Account
Opening a bank account comes with a number of benefits. These may include:
- Gaining financial security. Most checking and savings accounts are insured up to certain limits by the Federal Deposit Insurance Corp. (FDIC) or the National Credit Union Administration (NCUA).
- Using debit cards. Many banks and credit unions offer debit cards to accountholders. With a debit card, you can withdraw money from an ATM, make an online purchase or pay for in-store purchase.
- Getting access to direct deposit. This enables your paycheck to automatically go into your account.
- Paying bills. You may be able to pay bills by check or online, rather than purchasing money orders to pay them.
- Building a financial history. Putting better habits in place can help you borrow money to, for instance, buy a home or a car.
- Boosting your chances of getting a loan. If you have an account at a bank or credit union, that financial institution may be more likely to lend money to you because you already have a relationship with them.
- Avoiding fees. With your own bank account, you don’t have to depend on pricey check-cashing services.
Bottom Line
While it may require a bit more time and effort to open a U.S. bank account as a non-U.S. citizen, the benefits of doing so outweigh the steps required. It also will pay to shop around, as different banks have different practices and requirements for opening a first U.S. bank account.
