Introduction
Wondering how to open bank account in USA as a foreigner? Whether you’re a student, entrepreneur, or digital nomad, having a U.S. bank account makes international transactions easier and gives your finances more credibility. This 2025 guide breaks down everything you need to know.
Can a Foreigner Open a U.S. Bank Account?
Yes. Foreigners can open bank accounts in the U.S., although the process is stricter compared to U.S. residents. You’ll need to present valid documents and, in most cases, visit a branch in person.
Why Open a U.S. Bank Account as a Foreigner?
- To receive payments from U.S. clients
- To start or run a U.S.-based business
- For international banking convenience
- To access U.S. financial tools (e.g., PayPal, Stripe)
- To build U.S. credit history (with certain accounts)
Required Documents to Open a U.S. Bank Account
You typically need:
- A valid passport
- A U.S. visa or immigration document (student, work, or visitor visa)
- A secondary ID (foreign driver’s license, national ID)
- U.S. address proof (can be hotel, friend’s address, or business address)
- ITIN (Individual Taxpayer Identification Number) — if you don’t have a Social Security Number
- Initial deposit (usually $25–$100)
Note: Some banks may ask for proof of the source of funds.
Best Banks for Foreigners in the USA
These banks are known to be foreigner-friendly:
- Bank of America – Accepts ITINs and foreign IDs
- Chase Bank – Large network, supports non-resident account openings
- Wells Fargo – Flexible requirements for international clients
- TD Bank – Known for customer-friendly onboarding
- HSBC USA – Great for international banking and expats
How to Open Bank Account in USA as a Foreigner: Step-by-Step
1. Choose the Right Bank
Research each bank’s policy for non-residents. Prioritize international banks or those with global presence.
2. Prepare Your Documents
Ensure you have identification, proof of address, and tax identification documents.
3. Visit a U.S. Bank Branch
Most banks require foreigners to appear in person. Some may let you book appointments in advance.
4. Make Your Initial Deposit
Bring cash or use a wire transfer to meet the bank’s minimum funding requirement.
5. Set Up Online Access
Activate mobile and online banking to manage your account remotely.
Alternatives: Online Banks for Foreigners
If visiting the U.S. is not possible, consider:
- Wise (formerly TransferWise)
- Payoneer
- Mercury (for business accounts)
- Revolut USA
These platforms allow you to receive and hold USD, though they are not traditional banks.
Tips for Success
- Use a friend’s U.S. address or a virtual business address
- Apply for an ITIN to improve your chances
- Bring translated versions of foreign documents if needed
- Choose banks with international support services
Conclusion
Understanding how to open bank account in USA as a foreigner can open doors to global business, investment, and financial independence. While the process takes planning, the benefits are well worth the effort.
