Yes, but the bank you choose and what you can do with the account depend on where you live and your citizenship

You can open a bank account from outside the United States, but the process is slower and more restricted than opening one domestically. Most U.S. banks will not open an account for someone living abroad unless you are a U.S. citizen or permanent resident. Even then, many require you to have an existing relationship with the bank, a U.S. address on file, or a U.S. phone number. Some banks simply do not service non-residents at all.

If you are a U.S. citizen living abroad, your best options are banks that specialize in expat accounts, online banks with fewer physical location requirements, or international banks with branches in your country. If you are not a U.S. citizen, you will need to look at banks in the country where you actually live, or use fintech services that operate across borders.

The account itself works the same way once it is open — you can deposit, withdraw, and transfer money — but sending money in and out of the country involves extra steps and fees that domestic accounts do not.

Key Takeaways

  • Most major U.S. banks require you to be a U.S. citizen or permanent resident and to have a U.S. address or existing account relationship to open an account from abroad.
  • Online banks and banks that specialize in expat accounts are more likely to accept applications from people living outside the United States.
  • You will need to provide proof of identity, proof of address in your current country, and often a U.S. tax ID or Social Security number.
  • International transfers into and out of a U.S. bank account from abroad involve wire fees, currency conversion, and longer processing times than domestic transfers.
  • If you are not a U.S. citizen, opening a bank account in your country of residence is usually faster and cheaper than trying to access a U.S. account remotely.

Which U.S. banks will open accounts for people abroad

Online banks are your most reliable option. Banks like Charles Schwab, Wise (formerly TransferWise), and some others do not require a physical branch visit and have fewer restrictions on non-resident accounts. Charles Schwab, for example, will open accounts for U.S. citizens living abroad if you can verify your identity and provide a U.S. address — even if it is a mailing address you no longer live at. Wise specializes in international transfers and multi-currency accounts, though it functions more like a money transfer service than a traditional bank.

Expat-focused banks exist specifically for this situation. HSBC, Citibank, and a few regional banks market accounts to people working or living abroad. These banks know the compliance requirements and usually have streamlined processes for non-resident account opening. However, they often require a minimum deposit (sometimes $10,000 or more) and charge higher fees than standard accounts.

Your existing bank may be willing to keep your account open or help you open a new one if you already have a relationship with them. Call the branch where you opened your account and ask whether they can convert it to a non-resident account or whether they have an international banking department. Some banks will do this; others will not.

Major banks like Bank of America, Wells Fargo, and Chase have varying policies. Some will close your account if you move abroad; others will keep it open but restrict certain features. Contact your bank directly before you move to find out what they will allow.

Documents and information you will need to provide

U.S. banks opening accounts for people abroad require more documentation than domestic accounts. You will need:

  • A valid passport or government-issued ID
  • Proof of your current address in the country where you live (a utility bill, lease, or government document dated within the last three months)
  • Your U.S. Social Security number or Individual Taxpayer Identification Number (ITIN)
  • A U.S. address for mailing statements and tax documents (this can be a family member's address, a mail forwarding service, or a previous address)
  • Proof of income or employment (a job letter, contract, or recent pay stub — requirements vary by bank)

Some banks will also ask you to complete a W-8BEN form, which certifies your tax residency status for U.S. tax purposes. This is standard for non-resident accounts and does not mean you owe U.S. taxes; it tells the bank how to report interest earned on the account.

The application process usually happens online or by mail. You may be asked to verify your identity through a video call with a bank representative. Processing time is typically two to four weeks, longer than a domestic account opening.

How to send money into and out of a U.S. account from abroad

Once your account is open, moving money in and out involves international wire transfers, which are slower and more expensive than domestic transfers. A wire from your country to the U.S. typically costs $15 to $50 on your end, and the receiving bank may charge an additional $10 to $15. The money usually arrives in three to five business days, though it can take longer depending on the countries and banks involved.

To send money from abroad to your U.S. account, you will need your bank's routing number and your account number. Your bank will provide these when you open the account. If you are sending money from another country's bank, you may also need your bank's SWIFT code (an international identifier) and sometimes an IBAN (International Bank Account Number), though U.S. banks do not use IBANs.

Currency conversion happens at the time of transfer. The exchange rate you receive is set by your sending bank, not by the market rate, so you will lose money on the conversion. Some banks offer better rates than others; if you are transferring large amounts regularly, the exchange rate difference can add up quickly.

Receiving money from the U.S. to your account abroad works the same way in reverse. You give the sender your account details and routing number, and they initiate a wire transfer. This also takes three to five business days and costs money on both ends.

Tax reporting requirements for accounts held abroad

If you are a U.S. citizen or permanent resident with a bank account outside the United States, you must report that account to the IRS if the total value exceeds $10,000 at any point during the year. This is done through the Foreign Bank Account Report (FBAR), filed with the Financial Crimes Enforcement Network (FinCEN) by April 15 each year.

You must also report the account on your tax return itself, even if it contains less than $10,000. The bank will send you a 1099 form if you earned interest, and you report that interest as income. You may also be required to file a Form 8938 (Statement of Specified Foreign Financial Assets) depending on your total foreign assets and filing status.

These requirements exist regardless of whether you have a U.S. bank account or a foreign one. The key point is that you cannot hide money abroad from the IRS. If you do not report a foreign account and the IRS discovers it, penalties are severe — often 50% of the account balance or more.

Alternatives if you cannot open a U.S. bank account

If U.S. banks will not open an account for you, your practical alternatives are to open a bank account in your country of residence, use a fintech money transfer service, or maintain a relationship with someone in the U.S. who can hold money on your behalf (though this creates legal and tax complications).

Opening a local bank account is usually the simplest path. Most countries allow non-citizens to open accounts if they have a valid ID and proof of address. The process is faster than trying to access a U.S. account remotely, and you avoid international wire fees for everyday transactions. You can still receive money from the U.S. via wire transfer if needed.

Fintech services like Wise, Remitly, OFX, and others let you hold money in multiple currencies and transfer between countries at better exchange rates than traditional banks. These are not full bank accounts — you cannot get a debit card or overdraft — but they work well for receiving and sending money internationally. Some offer debit cards that work abroad.

Money transfer services like Western Union or MoneyGram let you receive money sent from the U.S., but they charge high fees and offer poor exchange rates. Use them only for occasional transfers, not as your primary banking solution.

What happens to your U.S. account if you move abroad

If you already have a U.S. bank account and you move abroad, contact your bank before you leave. Some banks will let you keep the account open indefinitely; others will close it after a certain period of inactivity or non-residence. A few will convert it to a non-resident account with different terms.

Your bank may freeze your account or flag transactions as suspicious if you suddenly start using it from a different country. This is a fraud prevention measure. If this happens, call your bank and explain that you have moved. They can update your address and remove the flag.

If your bank closes your account, you will receive notice by mail. Any money in the account will be sent to you, usually by check to your last known address. Make sure your bank has a current mailing address before you move.

Frequently Asked Questions

Can I open a U.S. bank account if I am not a U.S. citizen?

Most U.S. banks will not open accounts for non-citizens living abroad. Your best option is to open a bank account in the country where you live. If you have a U.S. work visa or green card, some banks may open accounts for you, but you will need to provide your visa or green card number and a U.S. address.

How long does it take to open a bank account from abroad?

Two to four weeks is typical for online banks and expat-focused banks. Traditional banks may take longer or refuse to open the account at all. The timeline depends on how quickly you can provide documentation and whether the bank needs to verify your identity through a video call.

Can I use a family member's U.S. address for my account?

Yes. Most banks will accept a family member's address as your mailing address for statements and tax documents, even if you do not live there. Tell the bank that you are living abroad and provide the family member's address as your U.S. address on file.

What is the cheapest way to send money from my U.S. account to my country?

Wire transfers through your bank are standard but expensive. Fintech services like Wise or OFX often offer better exchange rates and lower fees for international transfers. Compare rates before you transfer large amounts — the difference can be significant.

Do I have to close my U.S. bank account when I move abroad?

No, but contact your bank first to find out their policy on non-resident accounts. Some banks will keep your account open; others will close it. If your bank closes it, they will send your money by check to your last known address, so make sure they have a current mailing address.