Are you a non-resident of the United States, but you wish to open a bank account? There are various reasons why someone would want to open a bank account in the United States as a non-resident. There are many examples, and some of them might be that you will need one if you work online and need to receive payments from US companies, or if you frequently visit the US and want to reduce the bank and card fees there.
Opening a bank account in the US can sometimes be tricky but you have to push it through. The first problem that you might meet is the lack of an SSN. Most banks will require a social security number in order to open a bank account for you. In most cases, non-residents do not have an SSN and this can limit access to US banking retail services. So, what should you do if you do not have an SSN, but you still wish to open a US bank account for non-residence? Let’s check a few options.
Is it possible to open a bank account as a non-resident in the USA?
Opening a US bank account for foreigners is possible. Keep in mind that some banks do accept this type of customers, and the requirements may even be different in every state or between branches of the banks. Even though you will not have the same access to the banking market as a US citizen, you can still get a personal or corporate bank account in the US as a foreigner.
Personal bank accounts in the US as a non-citizen
If you want to open a bank account in the US, you will have several options. From 2018, two banks will require you to open a bank account as a non-resident. TD Bank and Bank of America allow people to do it. For the TD Bank, you will need to bring your passport to a branch. The other option is the Bank of America, which requires you to bring a passport and a US address.
Corporate Bank Accounts in the US as a non-citizen
Another option for you to consider is to open a company in the USA and get a corporate bank account. This is convenient for people who do business and get online payments from companies in the US. It is quite affordable, and you could check out the Delaware agency that could provide you with great services in terms of making a company, setting up a bank account, getting US PayPal, US address services, non-US tax returns, US mobile line, and other things. The bonus is that it is not difficult nor time-consuming to open a Delaware LLC bank account.
For you to open a bank account in the United States of America, you don’t have to be physically present. You could, for example, use the TransferWise Borderless Account to get a US account number without going to the US. It is most certainly one of the best options whether you are running a small online business, or you just need to receive some money from the US.