Home Living in the USA Banking in the USA — Expat Guide
Living in the USA Updated April 2026

Banking in the USA — Expat Guide

Opening a US bank account is one of the first challenges for new arrivals. Here is how to do it with or without a Social Security Number.

InfoUnitedStates.org · Independent guide · Not affiliated with any government

Do You Need a US Account

If you are staying short-term, no — a Wise card handles most needs. If you are staying long-term, working, or renting an apartment, yes — you need a US account for direct deposit, rent checks, credit card applications and monthly bills.

Best Banks

  • Chase — biggest branch network, $200-$300 signup bonuses, free checking with direct deposit. Best overall.
  • Bank of America — nationwide, similar to Chase
  • Wells Fargo — widespread but complicated reputation
  • Citibank — international transfers to Citi accounts in other countries are free
  • Capital One 360 — online bank, no branches, high yield savings
  • Schwab One Checking — worldwide fee-free ATM withdrawals, best for travelers

Opening Without SSN

Several banks will open accounts for foreigners without an SSN:

  • Chase — accepts passport + secondary ID (driver's license or credit card) at a branch visit
  • Bank of America — similar to Chase, varies by branch
  • HSBC Premier — for customers with existing HSBC accounts in another country
  • TD Bank — accepts passport + ITIN

Bring: passport, visa or entry stamp, proof of US address (lease or utility bill), secondary ID.

Fintech Options

  • Wise Account — opens instantly with passport, gives you US bank details (routing + account number). Not a full US bank account but works for most purposes.
  • Revolut USA — similar; instant account via app
  • Mercury — business bank accounts, accepts foreign-owned LLCs
  • Chime — US-only digital bank; needs SSN
  • SoFi — US digital bank; needs SSN

Building Credit

You need a US credit history (FICO score) for renting, credit cards, car loans, mortgages. Building from zero takes 3-6 months:

  • Secured credit card — deposit $200-500 as collateral, get a $200-500 limit. Discover Secured, Capital One Secured.
  • Nova Credit — translates your home country's credit score to help with apartment applications
  • Credit builder loans — Self-Lender
  • Petal / Deserve — credit cards for no-credit applicants
  • Authorized user — get added to a friend/family member's card to inherit their history

Use cards responsibly: keep utilization under 30%, pay in full monthly, never miss a payment. Your score will reach 700+ in 12 months with good habits.

Money Transfer

  • Wise — best for international transfers; mid-market rate, low fees
  • OFX — larger transfers, fee-free, slightly worse rate
  • Remitly — remittances to developing countries
  • PayPal Xoom — fast but expensive
  • Bank wires — most expensive ($25-50 fee + poor rate)

Common Issues

  • Branch requires SSN — try another branch or another bank
  • "Proof of address" issue — use a signed lease, utility bill, or hotel booking (some banks accept these)
  • High minimum balance fees — switch to a no-minimum online bank
  • Frozen account — usually happens after a large international transfer. Call customer service immediately.
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Frequently Asked Questions

Can a tourist open a US bank account?

Most big banks require a SSN or ITIN. Some (Chase, BOA) accept passport + secondary ID if you visit a branch in person.

What is an ITIN?

Individual Tax Identification Number. A 9-digit IRS number for non-citizens without SSN. Use it to open bank accounts and file taxes.