4 Best Banks for Non Residents in the U.S. (2023)

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When you first arrive in the U.S., opening a bank account should be one of your first moves as you get settled. As a non-resident, you may wonder what banking services are available to you, if at all.

The good news is that there are plenty of banks in the United States that offer access to non-residents. There may be a few more hurdles to go through than at home, but you can navigate them with a little preparation. And some new banks even caterly directly to immigrants and multinationals.

For those living in the United States, Remitly also provides the Passbook app to give immigrants in the U.S. more access to financial services. Passbook is an everyday spending account designed for multinationals, with no foreign transaction fees, cash back on international transfers through Remitly, and a beautiful Visa debit card. Plus, you don’t need an SSN to open an account. Remitly is not a bank; banking services are provided by Sunrise Banks N.A. The Passbook Visa® debit card is issued by Sunrise Banks N.A., Member FDIC, pursuant to a license from Visa U.S.A. Inc. The card can be used everywhere Visa debit cards are accepted.

Read on for all the details you need on choosing a bank in the U.S. and opening an account as a non-resident of the country.

Let’s look at some popular banks for non-residents, including what you need to consider before opening an account.

Contents hide

(Video) Best Bank Accounts 2020 - 4 Best Bank Accounts with No Minimum Deposit and No Monthly Fees

What Non-Residents Should Consider in a Bank Account

What Information Do Non-Residents Need to Open a Bank Account?

Is it Possible For Non-Residents to Open an Online Bank Account?

How Do Non-Residents Send Money Home?

Further Reding


Best Banks for Non Residents

Note: this list is provided for general information purposes only and is not intended to be exhaustive. It is not a substitute for professional or specialist advice.

Chase Total Checking®

  • Monthly fee: $12 (or $0 if you meet certain requirements)
  • Initial minimum deposit: $0
  • ATM fee: $0 at Chase network ATMs; $2.50 to $5 at a non-Chase ATM plus any additional fees from the ATM operator
  • Overdraft fee: $34 (maximum three times per day)
  • Debit card foreign transaction fee: 3%
  • FDIC insured: yes

Chase is one of the largest financial institutions in the U.S. with 16,000 ATMs and 4,900 branches throughout the country. One draw to opening this bank account is that new customers can receive a welcome bonus once they meet certain requirements.

Currently, Chase is offering new customers $300 once they set up direct deposits to their Chase Total Checking® account. If you’re not a U.S. citizen, you may need to head to a physical branch to open an account, but you should still be able to qualify for the bonus.

Although there is a $12 monthly fee, account holders can get that waived by having a $1,500 daily minimum balance, $500 in direct deposits each month, or a $5,000 average beginning day balance in linked Chase accounts.

4 Best Banks for Non Residents in the U.S. (2)

Schwab Bank High Yield Investor Checking® Account

  • Monthly fee: $0
  • Initial minimum deposit: $0
  • ATM fee: $0 (customers will also get reimbursed for ATM fees outside the network)
  • Overdraft fee: $0
  • Debit card foreign transaction fee: none
  • FDIC insured: yes

This checking account is a fine choice for those who travel often. You won’t be charged any ATM fees, even if you’re in a country outside the U.S. Plus, you’ll be reimbursed for all out-of-network ATM fees.

The downside is that you can’t deposit cash, since Charles Schwab is primarily an investment brokerage. That means you can set up electronic money transfers, direct deposits, and checks via mail. In other words, this account is better suited as a secondary account.

To apply, you’ll need to show up in person to fill out an application form. You also must open a brokerage account with Charles Schwab, but there’s no requirement saying you need to fund it.

Bank of America Advantage Plus Banking®

  • Monthly fee: $12 (or $0 if you meet certain requirements)
  • ATM fee: $2.50 for out-of-network ATMs in the U.S.; $5 for ATMs outside of the U.S.
  • Overdraft fee: $35 per item
  • Debit card foreign transaction fee: 3%
  • FDIC insured: yes

The Advantage Plus bank account is a popular option because of its large ATM network and physical branches throughout the U.S. Account holders can use the mobile banking app to check transactions, make deposits, and more.

Although there is a monthly fee, you can get that waived by having at least one qualifying direct deposit of a minimum of $250, enrolling in the Preferred Rewards program, or maintaining a minimum daily balance of $1,500.

Account holders under 24 years old can also ask to get the monthly fee waived.

What Non-Residents Should Consider in a Bank Account

Before opening a bank account in the U.S., it’s a good idea to compare features and the fees you’ll pay.

That way, you can open a bank account that’s suited to your individual needs and one where you’ll pay for features you’ll use.

(Video) 4 things to do before opening an International Bank Account

Here are some features you’ll want to consider:

  • Monthly fee – sometimes referred to as a maintenance fee, some bank accounts will charge you each month. Sometimes, you can waive this fee if you meet certain requirements such as meeting a minimum balance requirement or having direct deposits go into the account. There are plenty of bank accounts for non-residents that don’t charge a monthly maintenance fee, so do a search, especially if you don’t think you can meet the monthly requirements.
  • Minimum opening deposit requirement – Banks may require you to deposit a certain amount upon account opening. This initial amount may be small — say, under $100 USD — but there are also plenty that don’t require one. Higher initial deposit requirements may apply to certain accounts, like money market or business bank accounts.
  • ATM fees – Checking accounts and some savings accounts come with an ATM or debit card, which you can use to make deposits or withdrawals at ATMs. While many banks don’t charge a fee to use machines in their network, you may be charged if you use a third-party network or one run by a different financial institution. If you intend on using ATMs often, look for a bank that has a large ATM network or one that reimburses fees.
  • Foreign transaction fees – You may be charged a fee for debit card transactions outside the U.S. This amount is often a percentage of the amount you spent or withdrew from a foreign ATM.
  • Overdraft feesThis fee will kick in if a purchase or withdrawal brings your bank account balance to less than zero. If the bank approves the transaction, you’ll be charged a fee. Some banks let you opt into overdraft protection, which usually means transferring the money from a linked savings account to your checking account so you don’t overdraft.
  • FDIC insurance – FDIC stands for the Federal Deposit Insurance Corporation (FDIC). This organization, which is part of the U.S. federal government, guarantees the money you have on deposit at an FDIC-insured account will be there. They insure your cash for up to $250,000 USD per ownership category (type of account), per depositor (that’s you).

What about APY?

Other considerations include the interest, or annual percentage yield (APY) that a bank account offers.

While the APY is helpful in figuring out how much interest you may earn, this percentage may fluctuate. Not all bank accounts offer interest (such as many checking accounts), but it’s a factor worth considering if you intend on keeping large sums of money in your account.

When comparing APYs, check to see what the requirements are and whether you meet them. Sometimes banks won’t let you earn interest on deposits above a certain amount, for instance.

4 Best Banks for Non Residents in the U.S. (3)

What Information Do Non-Residents Need to Open a Bank Account?

As a non-resident, you can open a new account using one or more of the following forms of identification:

  • An alien identification or passport number

  • A government-issued identification from a foreign country

  • An Individual Taxpayer Identification Number (more on this below)

You’ll also need to provide personal details such as your name, birth date, and proof of physical address in the U.S. That’s because thelaw requires U.S. financial institutions to be able to trace their customers’ transactions.

This information is used to verify your identity when opening a new bank account.

Is it Possible For Non-Residents to Open an Online Bank Account?

The short answer is yes. The longer answer is that you can, though it’ll depend on the bank and the information you can provide.

Many online banks verify your information using a SSN, and many non-residents aren’t eligible for one. That means it’ll be hard for you to open a bank account online in the U.S. if you only have a passport, Permanent Resident Card, INS Employment Card, Non-Immigrant Visa or a Border Crossing Card.

In other words, application forms for online bank accounts usually don’t have a place for applicants to input their foreign ID number.

(Video) 4 Different Types Of Bank Accounts You Need To Know About

For this reason, most non-residents have better luck going to a larger bank with physical locations. That’s because you can walk into a branch, show your passport or other relevant documents, and open an account.

Even if you can start your application online with one of these banks, you may be required to complete it in person.

That being said, many banks allow non-residents to apply for a bank account using an Individual Taxpayer Identification Number, or ITIN. This is a processing number that the IRS issues to qualifying non-residents who aren’t eligible for an SSN.

Ask around to see if a particular bank allows you to open an account online with an ITIN if you’re unable or prefer not to head to a physical branch — most of the best banks for non-residents will let you do so.

How Do Non-Residents Send Money Home?

Sending money home as a U.S. non-resident need not be difficult.

International transfer companies like Remitly offer multiple ways for non-residents to send money home and, in some cases, faster than it would be with international bank transfers. These companies understand the importance of sending money to your loved ones.

Find out moreat the homepageordownload the apptoday.

Further Reding

  • How to Send Money to a Debit Card

  • How to Send Money with a Credit Card Internationally

  • Money Order vs. Wire Transfer: What Is the Difference?

  • Can You Apply for a Credit Card as a Non-US Resident in the U.S.?

This publication is provided for general information purposes only and is not intended to cover all aspects of the topics discussed herein. This publication is not a substitute for seeking advice from an applicable specialist or professional. The content in this publication does not constitute legal, tax, or other professional advice from Remitly or any of its affiliates and should not be relied upon as such. While we strive to keep our posts up to date and accurate, we cannot represent, warrant or otherwise guarantee that the content is accurate, complete or up to date.


Which US Bank is best for non residents? ›

Wise is the best and most accepting of foreigners because they allow recent arrivals to open a US bank account without a social security number (SSN) or individual taxpayer identification number (ITIN).
These may include:
  • Citibank.
  • HSBC.
  • Bank of America.
  • Capital One.
  • Chase.
  • Charles Schwab.

Can a non resident have a US bank account? ›

You must be living in the U.S. to open your account. You'll need to provide both a foreign and U.S. address, as well as two forms of ID and a tax identification number.

What is the most trustworthy bank in America? ›

The Lifestory Research 2022 America's Most Trusted® Bank Study found Chase the most trusted bank. The America's Most Trusted® Study is a large-scale survey of consumers in the United States that seeks to identify the brands that people trust the most within their respective industries.

Who is the number 1 bank in America? ›

JPMorgan Chase is the top largest bank in the US, with a balance sheet total of $2.87 trillion.

What banks can open non residents? ›

However, larger banks such as US Bank, TD Bank, Bank of America, Chase, and Wells Fargo will allow non-residents to set up a checking account and a savings account. Instead of your SSN, they'll ask for an Individual Taxpayer Identification Number (ITIN) and other documents.

Which bank is easy to open USA? ›

We rate Chime as the easiest bank account to open online in 2022.

Which US banks are international? ›

  • What Is an International Bank Account and Why Do You Need One?
  • Citibank.
  • HSBC.
  • Capital One.
  • Charles Schwab Bank.
  • First Republic Bank.
  • US Banks Affiliated With Mexican Banks.
  • European Banks in the U.S.

How can I open a bank account in USA without proof of address? ›

Requirements for opening bank accounts in the US
  1. Individual Taxpayer Identification Number (ITIN)
  2. A government-issued ID by a foreign country.
  3. Unexpired passport/ foreigner driver's license.
  4. Utility bills.
1 Jun 2020

How can I open a US bank account without going to the United States? ›

As a non-resident, you have two options if you want to open a bank account from abroad: Visit the local branch of an international bank in your home country. Open a Borderless or Passbook account to manage your money until you move.

What bank is better than Wells Fargo? ›

With 4,000 more ATM locations than Wells Fargo, reduced fees and a wider variety of welcome bonuses, Chase is a better option for most customers. Chase is also the clear winner for military personnel, offering waived fees on checking accounts and ATM withdrawals for active-duty service members and veterans.

Who is better Chase or bank of America? ›

On the whole, Bank of America and Chase charge similar fees for their accounts. Bank of America has a higher monthly fee for its savings account. However, most its checking accounts have much lower monthly fees. This is due to Chase's many checking accounts increasing in rewards levels, making the fees more expensive.

What banks have the best customer reviews? ›

Best banks, credit unions and neobanks:
  • Best overall, best for customer service: U.S. Bank.
  • Best overall, best for cash-back rewards: Upgrade.
  • Best overall, best for ATM availability: Charles Schwab.
  • Best overall, best for overdraft options: Ally Bank.
  • Best overall, best for rates: Alliant Credit Union.
26 Jan 2022

What are the top 4 US banks? ›

largest banks in the U.S. , according to domestic assets, are Chase, Bank of America, Wells Fargo Bank, Citibank and U.S. Bank.

Which bank is in all 50 states? ›

At the moment, there are no banks that operate branch locations in all 50 states.

Which bank account us best? ›

Top Savings Bank Accounts of 2022
  • State Bank of India (SBI) Savings Account. 2.70% p.a.
  • HDFC Bank Savings Account. 3.50% p.a.
  • Kotak Mahindra Bank Savings Account. 3.50% p.a.
  • DCB Bank Savings Account. 6.50% p.a.
  • RBL Bank Savings Account. 6.00% p.a.
  • IndusInd Bank Savings Account. 5.00% p.a.
  • ICICI Savings Bank Account. 3.50% p.a.
10 Aug 2022

What is the easiest bank to open? ›

The 8 Easiest Banks To Join
  • TD Bank. ...
  • United Bank. ...
  • Synchrony. ...
  • Chase Bank. ...
  • Axos Bank. ...
  • Ally. ...
  • Wells Fargo. In addition to the basic info, Wells Fargo requires new members to make an opening deposit of just $25. ...
  • Online Features Make Everything Simpler. All of the banks that make the easiest-to-join list tout online banking features.
24 Jan 2022

What are non resident banks? ›

Non-Resident bank accounts are those, which are maintained by Indian nationals and Persons of Indian origin resident abroad, foreign nationals and foreign companies in India.

Can a tourist visa holder open a bank account in USA? ›

Yes, a foreigner can open a US bank account without a SSN. In most cases, you'll need to provide additional documentation such as a passport, visa, and proof of residency. You may also be required to open a business bank account rather than a personal account.

Which bank open in USA without SSN? ›

There are many banks that let you open an account even if you don't have an SSN:
  • Alliant Credit Union.
  • Bank of America.
  • BMO Harris.
  • Charles Schwab.
  • Chase.
  • Citibank.
  • HSBC.
  • PNC.
13 Oct 2022

Which US bank account can I get without a SSN? ›

Online checking accounts such as Sable and Majority will allow you to open a checking account and get a debit card without a SSN. What are SSN alternatives? If you are not eligible to obtain a social security number, then you can apply for an Individual Taxpayer Identification Number (ITIN).

Which bank is fastest to open account? ›

Instant account opening is easy with HDFC Bank. All you need is a working mobile number, Aadhaar number and a PAN number to open an account.

Which bank is best for international use? ›

NerdWallet's Best Banks for International Travel
  • Schwab Bank: Best for Using ATMs.
  • Capital One: Best for Foreign transaction fees.
  • HSBC: Best for Expats with high balances.
  • Citibank, N.A.: Best for Wiring money.
  • Revolut: Best for Nonbank multicurrency account.
19 Aug 2022

What is the safest international bank? ›

World's safest banks
2Zürcher KantonalbankSwitzerland
3Landwirtschaftliche RentenbankGermany
6 more rows

Is Wells Fargo a international bank? ›

Services around the world. Wells Fargo does not have offices outside of the U.S. that provide services to consumer or small business customers. For assistance with your accounts when traveling internationally, refer to our international access codes for phone numbers, or visit our travel resource center.

What proof of address can I use for bank? ›

Proof of address can be one of the following documents: Water, electricity, gas, telephone, or Internet bill. Credit card bill or statement. Bank statement.

What ID do I need to open a US bank account? ›

A valid, government-issued photo ID like a driver's license, passport or state or military ID. A minimum opening deposit of $25 to activate your account (once you've been approved).

Which US Bank Can I open online? ›

Following is a partial list of banks that can open an account entirely online, with no need for a customer to visit a branch.
  • BayVanguard Bank*
  • Altamaha Bank.
  • Androscoggin Bank*
  • Axos Bank*
  • BankFive.
  • Bank of America*
  • Bank of Travelers Rest.
  • Bank Independent*

How much money do you need to open a bank account at Bank of America? ›

The minimum opening deposit for this account is $100.

Can a non US citizen open a Citibank account? ›

* First name: To apply online, you must be a U.S. citizen or resident and at least 18 years old. You'll need to provide a physical address in the U.S., date of birth and Social Security number for all applicants.

Should I go with Chase or Wells Fargo? ›

If you want to maximize your savings, however, Wells Fargo beats Chase on how much you can earn in interest on CDs, but you'll need a relationship account to qualify. If you're interested in a wider variety of CD terms or premium checking accounts, Chase is the better option.

Do rich people use Wells Fargo? ›

Wells Fargo's The Private Bank is aimed at wealthy individuals who need financial solutions tailored to their requirements.

Is Wells Fargo or Chase better? ›

The bottom line: Chase is a better choice for savings and CDs, but Wells Fargo has easily manageable checking options.

Which is the world No 1 bank? ›

Industrial & Commercial Bank of China Limited

What banks are better than Chase? ›

Chase: Great sign-up bonus for checking; more than 4,700 branches and 16,000 ATMs.
According to the most recent Federal Reserve data, the top 10 retail banks in the U.S. by assets are:
  • Chase Bank.
  • Bank of America.
  • Citibank.
  • Wells Fargo.
  • U.S. Bank.
  • PNC Bank.
  • Truist Bank.
  • Goldman Sachs.
21 Sept 2022

Is Bank of America losing customers? ›

The percentage of Millennials (consumers 26 to 40 years old) who call a Bank of America checking account their primary account declined from 22% in October 2020 to just 13% in July 2021. The megabank also lost share of primary status among Gen Xers (ages 41 to 55), dropping from 18% to 10% over that same time period.

What bank has highest customer satisfaction? ›

PNC, TD Bank, JPMorgan Chase, and U.S. Bank followed, while Citibank, Bank of America, Truist, and Wells Fargo received scores below the industry average of 652 points.
Customer satisfaction with largest retail banks in the United States in 2021.
CharacteristicCustomer rating on a scale from 0 to 1,000
8 more rows
30 May 2022

What bank has a 5 star rating? ›

The Bank of Commerce has earned Bauer Financial, Inc.'s highest (5-Star) rating for strength and stability. Achievement of this coveted 5-Star Superior rating puts The Bank of Commerce in an elite category as one of the strongest banks in the nation.

Which banks have the best returns? ›

The best high-yield savings account rates
  • Bask Bank - 3.60% APY.
  • Salem Five Direct - 3.50% APY.
  • LendingClub Bank - 3.25% APY.
  • UFB Direct - 3.16% APY.
  • CIBC Bank USA - 3.03% APY.
  • Capital One Bank - 3.00% APY.
  • Marcus by Goldman Sachs - 3.00% APY.
  • Bread Savings - 3.00% APY.

What are the big 4 investment banks? ›

Largest full-service investment banks
  • JPMorgan Chase.
  • Goldman Sachs.
  • BofA Securities.
  • Morgan Stanley.
  • Citigroup.
  • UBS.
  • Credit Suisse.
  • Deutsche Bank.

What banks have no monthly fees? ›

Best no-fee checking accounts
  • Best overall: Capital One 360® Checking Account.
  • Runner-up: Ally Interest Checking Account.
  • Best for rewards: Discover Cashback Debit Account.
  • Best for out-of-network ATMs: Alliant Credit Union High-Rate Checking Account.
  • Best for students: Chase College Checking℠ Account.

Which state has a Best bank in USA? ›

The 2022 analysis of the best states for banking shows that where you live can affect the number of bank choices you have, the service you receive, and your access to the best interest rates.
Best states for banking in 2021
  • Texas. ...
  • 2. California. ...
  • Illinois. ...
  • Ohio. ...
  • Florida. ...
  • (tie) Kansas. ...
  • (tie) New York. ...
  • Missouri.
15 May 2022

Which bank has branch all over the world? ›

  • JPMorgan Chase & Co.
  • Bank of America.
  • CitiGroup.
  • HSBC.
  • CapitalOne.

Can a nonresident alien open a US bank account? ›

Yes, a foreigner can open a US bank account without a SSN. In most cases, you'll need to provide additional documentation such as a passport, visa, and proof of residency. You may also be required to open a business bank account rather than a personal account.

Can I open a US bank account from outside the US? ›

As a non-resident, you have two options if you want to open a bank account from abroad: Visit the local branch of an international bank in your home country. Open a Borderless or Passbook account to manage your money until you move.

What is a non resident bank account? ›

Non-resident means a person whose normal place of residence or domicile is outside of the CMA (Common Monetary Area). The Common Monetary Area consisits of Lesotho, Namibia, South Africa and Swaziland. If you have a valid work, study, retirement or spousal permit, you may qualify for a Temporary Resident Account.

How can I make money in USA without SSN? ›

While most employers require a social security number, you can do odd jobs, like mowing lawns, babysitting, shoveling snow, walking dogs, or small repairs to make money. Put up some flyers in your neighborhood to advertise your service. You might also ask friends and family if they'll hire you for any odd jobs.

Can Social Security check your bank account? ›

(a) To be eligible for SSI payments you must give us permission to contact any financial institution and request any financial records that financial institution may have about you. You must give us this permission when you apply for SSI payments or when we ask for it at a later time.

Can I open a bank account online without going to the bank in USA? ›

You can apply online for a checking account if you're 18 years or older and a legal U.S. resident. You'll need the following information: Your Social Security number. A valid, government-issued photo ID like a driver's license, passport or state or military ID.

What's the best international bank? ›

Here are the top international bank accounts you can open today:
  • Schwab Bank: Best for International ATMs.
  • Revolut: Best Digital Bank for International Accounts.
  • HSBC: Best for No Monthly Fees.
  • Capital One 360: Best for No Foreign Transaction Fees.
  • Bank of America: Best for Multiple Currencies.
8 Sept 2022


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