Yes, but the bank decides which non-residents it will accept

A non-resident can open a U.S. bank account, but not every bank will do it. The bank, not the law, is the limiting factor. Federal law does not prohibit non-residents from holding accounts — but it does require banks to verify identity and source of funds, which makes non-residents riskier to accept. Most large national banks have stopped taking non-resident customers entirely. Regional banks and some online banks still do, but the list shrinks every year.

The real barrier is that banks must comply with anti-money-laundering rules and know-your-customer (KYC) regulations. These rules force banks to document who you are, where your money comes from, and why you need the account. For a non-resident, that documentation is harder to gather and more expensive for the bank to verify. Many banks decided the cost is not worth it and closed their non-resident programs.

If you are a non-resident and need a U.S. account, your options are narrower than they were five years ago, but they still exist. The type of account you need, your country of residence, and whether you have a U.S. tax ID all affect which banks will consider you.

Key Takeaways

  • Most major U.S. banks no longer open accounts for non-residents, but some regional banks and online banks still do.
  • You will need a valid passport, proof of address in your home country, and a U.S. tax ID (ITIN or SSN) to open an account anywhere.
  • Some banks require you to open the account in person at a U.S. branch, while others allow remote opening if you have an ITIN.
  • Non-residents with a U.S. business address, employer, or visa status have better odds than tourists or people with no U.S. ties.
  • Banks may freeze or close your account if they cannot verify your identity or if your country is on a sanctions list.

Which banks still accept non-residents

Chase, Bank of America, Wells Fargo, and Citibank have all closed their non-resident programs. If you walk into a branch of any of these banks and ask to open an account as a non-resident, you will be turned away. This happened gradually over the past decade as compliance costs rose and regulatory pressure increased.

Some regional banks still open accounts for non-residents, but they are selective. HSBC, which has a global presence, still takes some non-residents but requires a minimum deposit and in-person opening at a branch. Wise (formerly TransferWise) offers accounts to non-residents but markets itself as a transfer service, not a traditional bank. Some credit unions and smaller regional banks will open accounts, but policies vary by location and by the individual branch.

Online banks like Revolut and Wise are easier entry points than traditional banks, but they are not full banks in the U.S. sense — they are money transfer and payment services. They work well if you need to move money in and out of the U.S., but they do not offer the full range of services a checking account at a traditional bank does.

Your best bet is to call banks in the state where you need the account and ask directly. Tell them you are a non-resident and ask if they have a non-resident program. Most will say no immediately. A few will transfer you to someone who can discuss it.

What documents you need to bring or send

Every bank that opens an account for a non-resident will ask for the same core set of documents. You need a valid passport, proof of your address in your home country, and a U.S. tax identification number. The tax ID is the sticking point for many non-residents — you cannot get one without applying to the IRS, and the process takes time.

A U.S. tax ID comes in two forms: a Social Security Number (SSN) if you have work authorization or visa status in the U.S., or an Individual Taxpayer Identification Number (ITIN) if you do not. An ITIN is what most non-residents use. You apply for an ITIN by filing Form W-7 with the IRS, either by mail or through an IRS-authorized agent. The process takes four to six weeks by mail, sometimes faster through an agent. You do not need to have income or a job to get an ITIN — you just need to file the form and provide your passport as proof of identity.

Beyond the tax ID, banks want proof of your home address. A utility bill, lease, or government-issued ID with an address works. Some banks also ask for a letter from your employer or a reference from another bank. If you have a U.S. business address, visa, or employer sponsorship, bring that documentation — it makes banks more comfortable with your application.

Opening an account in person versus remotely

Some banks require you to open the account in person at a U.S. branch. This means you have to travel to the U.S., go to the bank, and complete the paperwork face-to-face. HSBC and some regional banks still require this. The advantage is that the bank can verify your identity directly and see your passport. The disadvantage is obvious — you have to be in the U.S. to do it.

Other banks, particularly smaller regional banks and online services, allow remote opening. You send documents by email or upload them to a secure portal, and the bank verifies them without you being present. This is faster and cheaper for you, but banks are more cautious about it. They may require a video call where you show your passport to a bank employee, or they may require a higher minimum deposit to offset the risk.

If you have an ITIN and can provide all required documents, remote opening is possible at some banks. Call ahead and ask whether they offer it. If they do, ask what the minimum deposit is and whether they charge a monthly fee for non-resident accounts — some do.

Minimum deposits and ongoing fees

Banks that accept non-residents often charge more or require higher minimum deposits than they do for U.S. residents. A typical minimum deposit for a non-resident account ranges from $1,000 to $10,000, depending on the bank and the type of account. Some banks waive the minimum if you set up direct deposit from a U.S. employer.

Monthly maintenance fees are common for non-resident accounts. A bank might charge $10 to $25 per month just to keep the account open. Some waive the fee if you maintain a minimum balance, usually $5,000 or more. Read the fee schedule carefully before you open the account — the cost of keeping it open can add up.

International wire transfers in and out of your account may also carry fees. Incoming wires from outside the U.S. sometimes cost $15 to $25. Outgoing wires to your home country can cost $30 to $50. If you plan to move money frequently, these fees matter. Wise or similar transfer services may be cheaper for regular international transfers than a traditional bank account.

What happens if the bank cannot verify your identity

Banks have the right to freeze or close your account if they cannot verify your identity or if they suspect money laundering. This is not a threat — it is a legal requirement. If your documents do not match their records, if your country is on a sanctions list, or if your account activity looks suspicious, the bank can lock you out.

If your account is frozen, the bank will usually send you a letter explaining why and asking you to provide more information. You have a window to respond — typically 30 days. If you can clear up the issue, the account reopens. If you cannot, the bank closes the account and returns your money by check or wire transfer.

To avoid this, be honest on your application. Do not misrepresent your address, your source of funds, or your reason for opening the account. Keep your account activity normal — large, sudden transfers or frequent international wires can trigger a review. If the bank asks for additional documentation, respond quickly and completely.

Non-residents with a U.S. visa or work authorization

If you have a U.S. work visa, student visa, or any other visa that allows you to be in the country, opening a bank account is much easier. You can get an SSN through your employer or school, and most banks will open an account for you with an SSN. You do not need to be a permanent resident or citizen — a valid visa is enough.

The process is the same as for a U.S. resident: bring your passport, visa, proof of address, and your SSN to a bank branch. Most banks will open the account on the spot. Online banks will let you open remotely. There are no special fees or higher minimums for visa holders.

If you are on a visa and planning to stay in the U.S. for a while, getting a bank account early makes everything easier — paying bills, receiving paychecks, and building a U.S. credit history. Do it as soon as your visa is approved.

Frequently Asked Questions

Can I open a U.S. bank account if I am a tourist?

Technically yes, but almost no bank will do it. Banks see tourists as high-risk because they have no U.S. ties and may not return to resolve problems. If you need to move money while visiting, use Wise, PayPal, or a similar service instead. If you are staying longer than a few weeks, look into whether you can get a visa — that opens more banking options.

Do I need an ITIN before I apply for a bank account?

Most banks require one, yes. Some will open an account if you have applied for an ITIN and can show proof of the application, but this is rare. It is faster to get your ITIN first through Form W-7, then apply to the bank. The ITIN process takes four to six weeks, so plan ahead.

What if my country is on a U.S. sanctions list?

Banks will not open accounts for residents of sanctioned countries. The U.S. Treasury maintains a list of countries and individuals subject to sanctions. If your country is on that list, no U.S. bank will accept you. Check the Treasury Department's Office of Foreign Assets Control (OFAC) website to see if your country is listed.

Can I use a U.S. bank account if I move back to my home country?

Yes, you can keep the account open and use it remotely. You can receive wire transfers, make online payments, and manage the account from abroad. However, some banks close accounts if the account holder leaves the U.S. for an extended period. Check your bank's policy before you move. You may also face tax reporting requirements in both the U.S. and your home country.

Is it cheaper to use a money transfer service instead of opening a bank account?

It depends on how often you move money. If you send money to the U.S. once or twice a year, a transfer service like Wise is cheaper and faster. If you need to receive regular paychecks, pay bills, or keep money in the U.S. long-term, a bank account makes more sense despite the fees. Compare the cost of your specific transfers before deciding.