You can open a bank account in the USA as a foreigner without being a citizen, a permanent resident, or the holder of a Social Security Number. Federal Customer Identification Program rules let a bank accept a foreign passport number and country of issuance as your identification.1eCFR. 31 CFR 1020.220 – Customer Identification Program Requirements for Banks What you actually need is a passport, proof of a U.S. address, a bank willing to work with your visa status and nationality, and an opening deposit. Individual banks can set stricter rules than federal law requires, so if one turns you away for lacking an SSN, another one down the street may not.
Documents to Bring to the Branch
Federal law requires the bank to collect four things from you: your full legal name, date of birth, a street address, and an identification number. For a non-U.S. person, that identification number can be a passport number and country of issuance, a taxpayer identification number, an alien identification card number, or a number from any government-issued photo ID showing nationality or residence.2FDIC. Customer Identification Program – BSA/AML Examination Manual
In practice, plan to bring:
- Your unexpired foreign passport. This is the primary document. The bank will inspect it and typically photocopy it.
- Your visa stamp or I-94 arrival record, which confirms your immigration status and how long you are authorized to be here. There is no legal rule limiting accounts to certain visa categories, but the bank will want to see what you hold.
- Proof of a U.S. address: a signed lease, a utility bill dated within the past 60 days, or a letter from your university or employer. If you have just arrived and do not yet have a U.S. address, some banks will temporarily accept a foreign address.
- A secondary photo ID. A driver’s license from your home country, a consular identification card, or a U.S. state ID all work.
The bank is required to form a reasonable belief that it knows your true identity, not to independently verify every fact you provide.2FDIC. Customer Identification Program – BSA/AML Examination Manual Compliance staff will also run your name against federal watchlists.3FinCEN.gov. USA PATRIOT Act
Do You Need an SSN or an ITIN?
Neither one is legally required to open the account. Federal regulations specifically allow the bank to use your passport number as your identification number.1eCFR. 31 CFR 1020.220 – Customer Identification Program Requirements for Banks But many banks ask for one anyway as part of their internal policy. Which one applies to you depends on whether you are authorized to work.
If you hold a work-authorized visa such as an H-1B or L-1, or an F-1 with approved employment, you are eligible for a Social Security Number. Apply using Form SS-5 with the Social Security Administration. Most employers will require you to get one for payroll, so you will likely have it in hand regardless.
If you are not eligible for an SSN but need to file a U.S. tax return or claim tax treaty benefits, you can apply for an Individual Taxpayer Identification Number using IRS Form W-7. Your passport can serve as proof of both identity and foreign status.4Internal Revenue Service. Individual Taxpayer Identification Number (ITIN) You can mail the form to the IRS, visit a Taxpayer Assistance Center, or use an IRS-authorized Certifying Acceptance Agent so you do not have to mail your original passport.
Processing takes about seven weeks outside of tax season. Between January 15 and April 30, or if you apply from overseas, expect nine to eleven weeks.5Internal Revenue Service. How to Apply for an ITIN Do not wait until you need the number for tax filing.
How the Application Works
Most banks want you to open the account in person at a branch. A banker will inspect your original documents, ask a few identity-verification questions, and walk you through the paperwork. A handful of institutions have online portals for certain visa categories, but these are still the exception and usually add steps like a video call or biometric check.
After you submit the application, the bank’s compliance department reviews it. This normally takes a few business days. It can take longer if they ask for more documents. You will hear back by email, secure message, or physical mail.
Once approved, you make an opening deposit. Some accounts have no minimum. Others require $25, $100, or more. Your debit card usually arrives by mail within one to two weeks, with instructions for activating it and setting a PIN.
The W-8BEN Form and Tax Withholding
If you are a nonresident alien, the bank will ask you to complete IRS Form W-8BEN. It tells the bank that you are not a U.S. person and lets you claim a reduced withholding rate if your home country has an income tax treaty with the United States.6Internal Revenue Service. About Form W-8 BEN, Certificate of Foreign Status of Beneficial Owner for United States Tax Withholding and Reporting (Individuals) You will provide your name, permanent foreign address, country of citizenship, and foreign tax identification number. If you are claiming treaty benefits, you identify the specific article and the reduced rate.7Internal Revenue Service. Form W-8BEN, Certificate of Foreign Status of Beneficial Owner for United States Tax Withholding and Reporting (Individuals)
Without a valid W-8BEN on file, the default withholding rate on U.S.-source income paid to foreign persons is 30%.8Internal Revenue Service. Tax Withholding Types For a routine checking or savings account, this matters less than it sounds. Interest earned on bank deposits by nonresident aliens is generally excluded from U.S. tax under IRC Section 871(i), so long as the interest is not connected to a U.S. trade or business.9Internal Revenue Service. Nonresident Aliens – Exclusions From Income The 30% rate becomes relevant if you receive other U.S.-source income like dividends or royalties.10Office of the Law Revision Counsel. 26 USC 1441 – Withholding of Tax on Nonresident Aliens The W-8BEN expires after three calendar years, so the bank will ask you to renew it.
Whether Your Nationality Can Block You
Your passport itself can be a barrier at some banks. The Office of Foreign Assets Control runs sanctions programs that restrict financial transactions involving certain countries. Nationals of comprehensively sanctioned countries — currently Cuba, Iran, North Korea, Russia, and specific regions of Ukraine including Crimea, Donetsk, and Luhansk — face the biggest obstacles, as most transactions involving residents of these countries require a specific OFAC license.11Research & Project Administration. OFAC Sanctioned Countries
A longer list of countries, including Afghanistan, Belarus, Burma (Myanmar), Iraq, Libya, Somalia, Sudan, Venezuela, and Yemen, is subject to more targeted sanctions. Restrictions may apply to specific individuals or entities rather than to every national. Each bank makes its own risk call, and some decline all applicants from any sanctioned country while others do not.12FFIEC. FFIEC BSA/AML Manual – Risks Associated with Money Laundering and Terrorist Financing – Nonresident Aliens and Foreign Individuals If one bank turns you down on country grounds, another may still approve you.
If Your Application Is Denied
If the denial was based even partly on information from a consumer reporting agency like ChexSystems or Early Warning Services, the bank must send you an adverse action notice that identifies the reporting company.13Consumer Financial Protection Bureau. Helping Consumers Who Have Been Denied Checking Accounts You are then entitled to a free copy of that report within 60 days. Review it for errors, and if you find any, dispute them with both the reporting company and the bank that furnished the information.
If the denial had nothing to do with a consumer report — for instance, if it was based on OFAC screening, missing documentation, or the bank’s internal country-risk policy — you may not get a detailed reason. Ask the banker what documentation would satisfy them. Then try another institution. Credit unions and community banks sometimes take a more flexible view of foreign nationals than large national banks.
Fees and Keeping the Account Active
Most checking and savings accounts charge a monthly maintenance fee of roughly $5 to $12. Banks usually waive it if you meet a condition each month, like maintaining a minimum balance (often $1,500 for basic checking) or receiving a set amount in direct deposits. Money market accounts may require $10,000 or more. Some basic accounts carry a small fixed fee that cannot be waived.
Watch the fees that hit foreign nationals harder than domestic customers: international wire transfers, currency conversion, and out-of-network ATM withdrawals. If you expect to move money in and out of the country often, compare wire fees carefully. They vary a lot.
Your account stays open as long as you keep your minimum balance requirement (if any) and your documentation is current. The bank may periodically ask you to update your visa status, address, or W-8BEN. If your visa expires or your immigration status changes, tell the bank promptly. Letting that information go stale can get your account frozen or closed.