Introduction
Opening a bank account in the United States is an essential step for managing money, receiving payments, and building financial credibility. Whether you’re a U.S. resident, immigrant, or foreign business owner, understanding how to open a USA bank account will help you access the American banking system with ease.
This guide explains the process in detail — from eligibility to choosing the right bank and submitting your application online or in person.
Who Can Open a USA Bank Account?
You can open a U.S. bank account if you fall under the following categories:
- U.S. citizens and permanent residents
- Non-resident foreigners with valid documentation
- International business owners with a U.S. LLC or corporation
While residents have more options, foreigners can still open accounts with select banks that support international verification.
Types of USA Bank Accounts
- Personal Checking Account – For daily financial transactions
- Savings Account – For accumulating interest on stored funds
- Business Checking Account – For LLCs, S Corps, and other entities
Documents Required to Open a USA Bank Account
For U.S. Residents:
- Government-issued photo ID (driver’s license or passport)
- Social Security Number (SSN)
- Proof of U.S. address (utility bill, lease, etc.)
For Non-Residents:
- Valid passport
- U.S. mailing address (can be a virtual office or registered agent address)
- EIN (for business accounts)
- Business formation documents (Articles of Organization, etc.)
Some banks may also require an ITIN (Individual Taxpayer Identification Number) for personal accounts.
How to Open a USA Bank Account: Step-by-Step
Step 1: Choose a Suitable Bank
Some of the most accessible banks include:
- Chase
- Bank of America
- Wells Fargo
- Mercury (for non-resident entrepreneurs)
- Wise (multi-currency account with USD support)
- Revolut or Payoneer (for international freelancers)
Step 2: Select the Type of Account
Decide whether you need a personal or business account.
Step 3: Gather Required Documents
Have all your IDs, EIN, business documents, and address proof ready.
Step 4: Apply Online or In Person
- Online Application: Many banks allow fully remote sign-up, especially for U.S. residents or businesses.
- In-Person Visit: Some banks require foreign account holders to visit a U.S. branch.
Step 5: Fund Your Account
Transfer initial funds through ACH, wire transfer, or deposit.
Best Banks for Opening a USA Bank Account
| Bank Name | Account Type | Online Opening | Foreigners Allowed |
|---|---|---|---|
| Chase | Personal & Business | Yes | With SSN or ITIN |
| Bank of America | Personal & Business | Yes | With U.S. ID |
| Mercury | Business | Yes | Yes |
| Wise (via Evolve Bank) | Multi-Currency | Yes | Yes |
| Payoneer | Business | Yes | Yes |
| Revolut | Personal | Yes | Yes |
Benefits of Opening a U.S. Bank Account
- Access to U.S. payment systems (ACH, Zelle, wires)
- Get paid by U.S. clients easily
- Separate personal and business finances
- Build U.S. credit and credibility
Final Thoughts
Understanding how to open a USA bank account can give individuals and businesses the financial infrastructure needed to operate smoothly in the United States. Whether you’re launching an LLC, working remotely, or just planning a long-term stay, setting up your U.S. bank account is your first step toward success.
