A non-U.S. citizen can open a bank account in the U.S., it just takes a little bit of elbow grease and hoop-hopping to make it happen.
While no one likes headaches, there are many advantages to maintaining a bank account. If you have a bank or credit union account, you can cash checks without fees, build an emergency fund with a good interest rate, keep your money safe and more.
Below is a guide for any noncitizen hoping to open a bank account in the U.S.
To start, financial institutions want to know one big thing: Are you who you say you are? You can prove you’re you by providing the bank or credit union with several pieces of information, ranging from your address to a phone number. Here’s a quick breakdown of what you’ll need:
Once you have these documents handy, you can begin the process of opening an account. The guidelines for opening an account vary by financial institution, but for the most part, if you’re a noncitizen opening a bank account, you’ll have to visit the bank or credit union in person. That means online banks likely aren’t an option.
You can still get a bank account without a Social Security number, but you’ll likely need an Individual Tax Identification Number (ITIN). The ITIN is a number issued by the IRS so that non-U.S. citizens or resident aliens can pay taxes.
The process for getting an ITIN is fairly straightforward. Like anything government related, you’re going to need to fill out some paperwork. Here’s what you’ll be looking at:
Once you submit your paperwork, you can expect a shiny new ITIN within seven weeks. If you’ve applied and haven’t heard anything back from the IRS after seven weeks, contact them and check on the document’s status.
According to the Federal Reserve, about five percent of the nation’s population are “unbanked,” meaning they have no bank or credit union accounts. You don’t want to be among them just because you’re not a U.S. citizen.
The key here is security. Financial institutions can keep your money safe and sound. Bank accounts also just make your life a lot easier. Here are some other reasons that you should use a bank account:
Yes, a foreigner can open a bank account in the U.S., it just takes some additional paperwork to make it happen. If you have a foreign government ID, passport or resident alien number from a green card, those will help. If you don’t have a Social Security number, you’ll need an ITIN.
A tourist or non-resident can open a bank account in the U.S. with the proper paperwork. While the process for opening an account varies by bank or credit union, many will accept alternative forms of I.D. to open an account.
You do not need a Social Security number to open a bank account. If you don’t have one, you’ll likely have to apply for an ITIN before getting access to an account.