How to open a US bank account as a non-resident?

3 minutes reading

eduardo SEO Specialist and content production, I have worked in several renowned companies in Brazil and abroad. I write about money, technology and more!
open bak account as an non-resident

Have you ever wondered whether or not you can open a US bank account as a non-resident? So here is your answer: yes. It might be a stiff process, full of bureaucracies and tricky sometimes, but it’s possible. Most US banks only allow residents, but there are still viable options to apply for non-citizens — for personal or business purposes.

Whether you are planning to move to the USA or manage an account without living there, learn how to open a US bank account if you are outside the country. Check this guide out!

How to open a US bank account as a non-resident?

Many US banks will ask for proof of address and a Social Security Number (SSN). As a non-resident, you won’t have any. Only American citizens and residents have access to both. There are alternatives to overcome this. The institutions can also inquire about an Individual Taxpayer Identification Number (ITIN) and other documents we will bring further ahead. Now, there are two main types of accounts:

  • Personal account: this is for your individual financial goals, whether it’s saving up to buy a house (saving acc) or setting up your income and expenses (checking acc);
  • Corporate account: it focuses on your business to keep all transactions separate from the personal account, allowing access to someone else on your behalf.

While small banks only allow US citizens and permanent residents to set up an account, larger financial institutions can show more flexibility. If you meet their requirements, you can open a US bank account as a non-resident. It includes names such as Bank of America and Chase. Until 2021, Wells Fargo was part of the list. So let’s meet the options available.

Apply for a US bank account in person

It’s out of the question if you live outside the United States. However, the alternative is worth listing since it’s the most traditional way of setting up an account. This path requires that you travel to the country and visit a bank branch. If a trip is on your way, call to check the requirements beforehand since each bank has its rules. Plus, if you already live there and have proof of address but no resident status yet, you can apply in person.

Use a correspondent bank as a middleman

When you are away, a correspondent bank work as an intermediate between you and a partner bank in another country. In a few words, a correspondent bank is a bank from your country that can assist your needs if it’s associated with a bank in the US. Not all financial institutions offer this service, so check in advance before making any move.

Set up a US bank account “online”

Why the quotation marks? Because it’s possible to start a US bank account online from abroad. However, at some point in the process, non-residents need to go in person to check their documentation. So keep in mind that you can start your application online, but be prepared to travel to the United States and visit a bank branch to set up your account.

Start an international account

Living in a globalized world brought a lot of benefits, including access to international services. It means you can open an international account if you don’t have a US address or an SSN. It’s the easy part. The hard factor includes a significant initial deposit, high monthly maintenance fees, and the compromise of keeping a minimum balance.

Get a multi-currency account with Husky

Husky is neither a bank in the US nor a correspondent bank. It’s a digital currency exchange platform for international transfers. Husky offers a multi-currency account— a unique place to manage all transactions, no matter the currency or where you are. The package includes low-cost transactions, plus agility to send and receive money to and from the United States.

What do you need to open your account?

The process to open a US bank account as a non-resident may vary from one bank to another. Your warranty is calling ahead, or visit the bank’s website for instructions. Generally, they ask for some form of identification, a few documents, and an initial deposit. The data might include the following:

  • US address (if applicable), plus contact information and personal details;
  • ID, usually your passport or a driver’s license;
  • Valid Visa or Green Card;
  • Social Security Number or Individual Taxpayer Identification Number (alternative available through the IRS Form W-7 for non-residents).

If you are outside the United States or live in the country without a resident status yet, you can rely on one of the options in this article to open a US bank account as a non-resident.

Husky can help you send and receive money to different countries worldwide through a multi-currency account. This way, you don’t need to worry about hidden fees or foreign exchange rates, plus you can count on a single account to deal with multiple currencies.

Do you want to know how Husky can help you? So check all the benefits awaiting for you to simplify your international transactions!

eduardo SEO Specialist and content production, I have worked in several renowned companies in Brazil and abroad. I write about money, technology and more!

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