Yes, Canadians can open a US bank account, but the process is more complicated than it is for US residents
Most major US banks will open an account for a Canadian citizen or permanent resident, but you will need to provide a US address and a US tax identification number. The US address does not have to be your home — it can be a business address, a mail forwarding service, or even a relative's address if you have permission to use it. The tax ID is usually an Individual Taxpayer Identification Number (ITIN), which you obtain from the IRS before you apply for the account.
The real barrier is not whether banks will take you, but which banks will take you without already having a US presence. Large national banks like Chase, Bank of America, and Wells Fargo have different policies depending on which state you are applying in and whether you can visit a branch in person. Smaller regional banks and online-only banks often have simpler processes but may not offer the same range of services.
Key Takeaways
- You will need a US address (which can be a mail service or relative's address) and an ITIN from the IRS before most banks will open an account for you.
- Large national banks often require you to visit a branch in person or already have a US phone number and address on file.
- Online banks and credit unions sometimes have fewer documentation requirements and may accept Canadian addresses for some account types.
- The IRS ITIN application takes four to six weeks by mail, so plan ahead if you need the account quickly.
- Some banks will not open accounts for non-residents at all, so calling ahead to confirm their policy saves time.
Getting an ITIN from the IRS
An ITIN is a nine-digit number the IRS issues to people who need to file taxes or open financial accounts in the US but do not have a Social Security Number. You apply using Form W-7, which you can download from the IRS website. You must include proof of identity (a valid passport works), proof of Canadian residency (a utility bill or lease in your name), and proof of why you need the ITIN (a letter from the bank saying they require it, or a copy of a job offer).
You can apply by mail or in person at a US embassy or consulate in Canada. By mail, the process takes four to six weeks. In person at an embassy, it is faster — sometimes same-day — but you need an appointment and must travel to one of the consulates that offers this service (currently Toronto, Vancouver, and Calgary offer ITIN services). The fee is zero either way.
Once you have the ITIN, the bank will ask for it during account opening. Keep the IRS letter that came with your ITIN; some banks want to see it as proof.
Which banks accept Canadian applicants
Chase and Bank of America have branches in most US states and will open accounts for Canadians, but policies vary by state. Some states require you to visit a branch in person; others allow online opening if you have a US address and ITIN. Call the specific branch or customer service line for the state where you want the account before you apply, because their website often does not spell out the non-resident policy clearly.
Smaller regional banks — particularly those in border states like Washington, Montana, and North Dakota — often have simpler processes because they are used to Canadian customers. Credit unions in those states may also be more flexible. You can search for banks in your target state on the FDIC website and call to ask their policy.
Online banks like Charles Schwab, Ally, and Wise have fewer branch requirements and sometimes accept Canadian applicants without requiring a US address, though they still want an ITIN. Read the account opening requirements on their website or call their support line to confirm they will accept you before you start the application.
What documents you will need
| Document | Why the bank needs it | What works |
|---|---|---|
| Proof of identity | To verify you are who you say you are | Valid Canadian passport, Canadian driver's license, or provincial ID card |
| Proof of address | To confirm you have a US address on file | Utility bill, lease, or mail forwarding service confirmation in your name at a US address |
| ITIN or ITIN letter | To satisfy US tax reporting requirements | IRS letter showing your ITIN, or a bank letter saying they require it (for the IRS application) |
| Proof of Canadian residency | To confirm you are a Canadian resident (some banks ask) | Utility bill, lease, or tax return in your name with a Canadian address |
Some banks will also ask for a phone number. A US phone number is not always required, but having one makes the process smoother. You can get a US phone number through services like Google Voice (free, but requires a US address) or a prepaid SIM card from a US carrier.
Opening the account in person versus online
If you can visit a US branch in person, the process is usually faster and requires fewer documents. Bring your passport, proof of your US address, and your ITIN letter. The teller can verify everything on the spot and open the account the same day. This works well if you live near the border or are planning a trip.
Online opening is slower but avoids travel. You will upload scans of your documents, provide your ITIN, and wait for the bank to verify everything — usually three to five business days. Some banks will call you to confirm information or ask follow-up questions. A few banks will not complete the account opening until they receive a physical copy of your documents by mail, which adds another week.
If the bank rejects your application online, ask why. Common reasons are a missing ITIN, an invalid US address, or a policy against non-residents in your state. If it is a policy issue, you may need to choose a different bank or state.
Funding and using the account
Once the account is open, you can fund it by wire transfer from your Canadian bank. International wire transfers cost between $15 and $50 depending on your Canadian bank, and the money usually arrives in one to three business days. Some US banks also accept ACH transfers from Canadian banks, though this is less common and may take longer.
You can use the account to pay US bills, receive direct deposits from a US employer, or transfer money to other US accounts. Withdrawing cash works the same as for a US resident — use the bank's ATM network or any ATM that accepts your card (though out-of-network ATMs charge fees).
Be aware that the US bank will report your account to the IRS if the balance exceeds certain thresholds, and you may need to report the account to Canada Revenue Agency (CRA) on your tax return. Talk to an accountant familiar with cross-border taxes before you open the account if you plan to keep a large balance or receive significant income through it.
Frequently Asked Questions
Do I need a US Social Security Number to open an account?
No. An ITIN serves the same purpose for tax reporting. The bank will accept either one, but since you are Canadian, you will get an ITIN instead.
Can I use a mail forwarding service as my US address?
Yes. Services like UPS Store, Traveling Mailbox, or PostScan Mail provide US addresses that banks accept. Make sure the service allows you to receive mail and confirm the address format with the bank before you apply.
What if the bank asks for a US phone number and I do not have one?
You can get a free US phone number through Google Voice if you have a US address. Alternatively, buy a prepaid SIM card from a US carrier (AT&T, Verizon, T-Mobile) for $20 to $40. Some banks will also accept a Canadian number if you explain you are a Canadian resident.
How long does the whole process take from start to finish?
If you apply for an ITIN by mail first, expect four to six weeks for the ITIN, then three to five business days for the bank to open the account — roughly six to eight weeks total. If you apply for the ITIN in person at a consulate, you can have it the same day and open the account within a week.
Will opening a US bank account affect my Canadian taxes?
You must report the account to the CRA if the total value of your foreign accounts exceeds $100,000 CAD at any point in the year. Interest earned in the US account is taxable in Canada. Consult a cross-border tax accountant to understand your specific obligations.