How to Open a US Bank Account (Even From Abroad as a Non Resident)

Need to open a bank account in the US? Can a foreigner open a bank account in the US? Confused by the rules and documentation needed? In this guide, learn how to open a US bank account from abroad (even as a non-US resident)

Need to open a bank account in the US? Confused by the rules and documentation needed? Can a foreigner open a bank account in the US? And how to open a US bank account from abroad? Read on for an in-depth guide to the process.

If you’re planning on moving to the United States, or visiting for an extended period, one of the first things you’ll want to do is get a local bank account. 

Opening a US bank account not only make your life easier, but it’s often necessary to access services like a mobile phone or home internet plan and help you save money on international banking fees. 

You can also open a US bank account online from abroad as a non-resident or without any proof of address – yes, that’s also possible! 

There’s no shortage of choice, when it comes to opening a US bank account – but choosing the right option for your needs can be a little more complex.

Want to Open a US Bank Account?

You can open your FREE multi- currency account in 5 minutes and safely at Wise even as non-US resident. Wise Multi-Currency Account lets you hold up to 50+ different currencies, all in one account. When you convert one currency to another. It also gives you local bank details, even for a USD account.

Open a US Bank Account

This guide sets out all you need to know about opening a US bank account, so you’re able to hit the ground running. Read on to learn more about:

• How to open a US bank account (as a US resident)
• How to open a US bank account from abroad (even as a non-resident)
• The documents your bank will ask for before you can open an account
• The steps you’ll need to take to get started, and the fees to consider

Which US banks to look at, and an alternative – the multi-currency account from Wise (formerly TransferWise) – for comparison

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How to Open a US Bank Account from Abroad?

If you’re a US resident, and have a local US Social Security Number (SSN), but happen to be living overseas at the moment, you might be able to apply for a bank account online. Several of the largest retail banks in the US offer online account opening for US citizens abroad.

Can a Non-US Citizen Open a Bank Account in the USA?

However, if you’re not originally from the US, and don’t have your SSN, you might find it tricky to open a US bank account from abroad. In most cases, not only will you need a local SSN, you’ll also have to visit a bank branch in person to get started.If this isn’t possible, you have a couple of options. You could look at an international bank account held in US dollars, offered by many global banks, but typically comes with high minimum deposits – or consider an alternative like the Wise (formerly TransferWise) Multi-currency Account.

What Documents Do I Need to Open a Bank Account in the US?

To open a bank account in the US, you’ll be asked to prove your identity and residential address, either by uploading copies of your documents online or attending a branch in person. Each bank will have a slightly different process, and the requirements might vary by state, so it’s a good idea to check with your chosen branch exactly what is needed before you go along to your appointment.

You’ll usually be asked for the following:

• Your personal and contact details, including full residential address
• Your driver’s licence or state issued ID document
• Your SSN
• An opening deposit payment

Open a US Bank Account from Abroad (even as a non resident)

As a foreigner who wants to open a bank account in the US, but need a way to hold and spend your US dollars, Wise multi-currency account is a great alternative. 

Even if you don’t have all the documents needed to open a US bank account, you can use Wise to open a US account from abroad (with local US bank account number and routing number). You can also keep your money in any of over 50+ different currencies, all in the same place. 

Can I Open a US Bank Account as a Non Resident?

Yes, With the help of Wise multi currency account, you can open a US bank account as a non-resident using your local government ID to prove your identity and address. You can instantly receive a US bank account number and sort code. With your local US bank details, you can then simply top up your Wise USD account from a bank account based in the US or abroad.

You can also give your US account number to anyone who needs to make a dollar payment to you, to receive the transfer fee free, and send money abroad up to eight times cheaper than with a regular bank.

As a non us citizen who wants to open a US bank account, make payments and withdraw cash in the US, you can apply for a linked Visa debit card. Simply top up your borderless account online, and then spend any currency you hold in the US or abroad, for free. This can work out much cheaper than using your normal debit or credit card, as many banks charge around 1.2pc extra for international card transactions. You can also withdraw up to the currency equivalent of £200 a month from ATMs for no charge, with a small fee after that.

Wise (formerly TransferWise) is authorised and independently regulated by the Financial Conduct Authority (FCA) in the UK, so you know that your money is protected using bank level security, just as it would be in a traditional bank.

How to Open a US Bank Account

Each bank has a slightly different process to open a US bank account, so you’ll need to check out the exact steps required by your chosen bank. In some cases, you can get the process started online, by filling in an online application and uploading your documents. However, if you’re not a US citizen, or don’t have a SSN for any reason, you’ll probably find you need to visit a branch in person to open your US account.

You can often make an appointment online to visit your local bank branch, and take along the paperwork you need, as well as your opening deposit payment. A customer service representative will then take you through the process, before sending your debit card and PIN to your registered address a few days later.

What are the fees?

Before you choose a US bank account, it’s a good idea to read the small print and check out all the features, benefits, and fees. Each bank offers a range of different account options, from basic accounts which may have a low monthly fee, to premium accounts with higher service fees, but additional benefits such as free ATM withdrawals.

By considering how you’re likely to use the account, and which features are valuable to you, you’ll be able to get the right option for your needs.

Monthly maintenance fees

It’s common to find that there is a monthly service or maintenance fee to pay for your US bank account. However, in many cases this can be waived if you maintain a minimum monthly balance, or have a certain amount paid into the account every month.

A basic bank account is likely to cost something in the region of $10-15 a month. You can also opt for premium accounts which cost more. You may pay $25-100 a month in fees for a premium account, but will get access to a range of other benefits such as free international ATM withdrawals, or reduced charges for other services.

As a foreigner, opening a bank account in the US may have some additional change, but in most cases it’s the same fee for opening a non-resident US bank account.

ATM fees

You’ll need to check the fees your bank charges for ATM withdrawals. In most cases, you’ll get free withdrawals from ATMs operated by your bank, and often from other partner banks in their network. However, if you use an ATM outside of the bank’s network, even within the US, you’ll likely be charged a fee.

If you’re making international withdrawals using your US debit card when you travel, you can expect to pay a fee for the service.

US Bank Account: International Transfer Fees

If you need to make an international payment – commonly known as a wire transfer in the US – you’ll have fees to pay. You need to consider not only the upfront charges, but also any possible hidden fees or markup on the exchange rate. The upfront costs of sending an international wire transfer can vary from bank to bank – but the fees generally range between $30 and $50.

Here is the fee structure that the top US banks charges to transfer money to India.

US Banks	Fixed Fee
Citibank	$35 to $45 depending on the transfer method
Bank of America	$35 to US$40
PNC	$45
US Bank	$50
Capital One	$50 to $60
Wells Fargo	$30 to $50 depending on the sending currency
TD Bank	$40
JP Morgan Chase	$45 branch, $40 online

As well as this cost, you may find that there are additional fees incurred if your payment is sent via the SWIFT network. This is a common way for traditional banks to arrange international payments, and involves up to three different banks working together to move a payment across borders.

Each bank involved in the transaction can take their own service fee, which is deducted from the payment as it is processed. This can mean your recipient gets less than you might expect.

Finally, you’ll also need to check that you’re happy with the exchange rate being used by your bank. It’s quite common to add a markup or margin to the rate used for retail transfers, which can mean you pay more than you need to. A good way to check is to compare the exchange rate your bank offers, with an online currency converter which shows the mid-market rate. That’s the best benchmark to see if you’re getting a good deal.

For international transfers, it’s often cheaper and easier to use a specialist provider such as Wise (Formerly TransferWise). Wise charges a low transparent fee, and always uses the mid-market exchange rate – the one you get with a simple google search. There are no hidden fees to worry about, and the transfer can often be quicker than a bank wire transfer, too.

It is totally FREE To open a US bank account from abroad, using Wise.

Which US Bank Should I Choose?

Bank of America, JPMorgan Chase and Wells Fargo are among the most popular retail banks in the US, and a great place to start searching for the right account for your needs. Each has a broad range of account options, including basic accounts, and products tailored to students and other groups. It’s a good idea to compare a few different options from the main banks before you decide, as the terms, conditions, and fees vary widely.

To get the best deal out there, check out a few alternative providers too. If you’re an international traveller, an expat, or are planning on moving to the US to work or study, a multi-currency account from Wise (Formerly TransferWise) might be a good solution for you. 

Even as a non-US resident, you can open a US bank account from abroad and manage your account online. You can send make international payments and deal with several currencies easily, and usually much cheaper than using a regular bank. You can hold money in dollars, but also in other currencies all in the same account, and switch between currencies for a low fee whenever you need to.

Opening a new bank account is never the most exciting part of a move abroad – but it is essential to make sure you can settle into your new life easily. This is why you can also open a US bank account from abroad using Wise.

Depending on where you’re coming from, the features and costs of US bank accounts might be unfamiliar – so it’s important to do some research to see which account will work for you. Have a look at the big US banks as a great starting point, and also check out alternative providers to see if there’s a better deal for your needs out there.

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Opening US Bank Account FAQs