It is vital to note that if you don’t properly research this and just head straight to the bank, you may even get disqualified to apply at that bank again.Īlso, if you are going in person, we recommend finding a branch that is used to dealing with non-resident requests. Do I need to prove my source of funds somehow?.Do I need a US Address? What kind of proof do you need?.Call up in advance to check the requirements. Thus, due to the ever-changing nature of banking policies, it’s crucial to prepare before approaching the banks. We hope that with this article, we can help you find the best solution for you. Any of the major banks, as well as several online banks such as Ally Bank, Charles Schwab, and Capital One, will let you register remotely (just perhaps use a VPN and don’t tell them you live abroad!)Īs for everyone else, depending on whether you want to do this remotely, in person, or you are looking to set up a business account, there may be some additional steps and requirements, as well as other options you should probably consider. For the US address, you can either use a close relatives’ or a mail forwarding service (although banks have started to become picky about these in recent years so an actual residential address is preferred).

If you are a US citizen living abroad, this should naturally be relatively easy to provide. When the banks are dealing with non-residents, they will be looking for something to compensate for these documents in some way, so they can be sure to open an account while fulfilling all KYC and AML requirements.

In some cases, a US phone number to access online banking.

US Address and proof of address (i.e a utility bill).

Social Security Number (SSN) or Individual Tax Identification Number (ITIN).

However, US residents will generally be asked to submit the following for a personal checking account: On top of that, the required documents you need to submit in order to open an account vary depending on the bank, state, or even branch.

Smaller and more local banks have a lower risk threshold and will likely turn you away if you don’t have a US address. To our knowledge, they are all open to non-residents. As a non-resident, we would recommend looking towards the bigger banks like Chase Bank, Bank of America, or Citibank. You have probably heard some of the big names like Bank of America, but there are also many regional and state-specific banks, credit unions, online banks, and investment banks. While this can happen in some circumstances, a large portion of US banks are increasingly foreigner-friendly, and contrary to belief, many will now allow you to open US bank accounts without a social security number! Table of Contents ↺įirst of all, it’s important to understand the diverse banking landscape in the US. However, there is no need to feel disheartened.

In fact, I remember the days where I had to visit my US bank branch every time I was going abroad to relay my whole travel itinerary so that they wouldn’t decide to block my ‘suspicious’ activity and leave me penniless on my trip (and in one instance, they still blocked it anyways 🙄) The majority of banks rely heavily on face-to-face interaction (including some instances when your account gets suddenly locked), and even accessing your bank from abroad sends up an immediate red flag for many - definitely a less than ideal situation for a global citizen, digital nomad, or international entrepreneur. Not only do they carry hefty foreign transaction fees and aren’t particularly multi-currency friendly, but online banking can also leave a lot to be desired. Whatever your reasons, opening a bank account in the world’s largest economy can come with many benefits, although, if you are a non-resident, you might face several challenges if you don’t know exactly where to look!ĭespite being a very technologically advanced country, the US banking world is known for still being rather old school. Perhaps you are a frequent traveler there, looking for a practical way to do business there, or you are an American that lives abroad and needs a convenient way to avoid high international fees.

Mercury bank