Yes, you can open a bank account with an ITIN. Federal law lets banks accept an Individual Taxpayer Identification Number in place of a Social Security Number when they verify a new customer’s identity. The Customer Identification Program rule at 31 C.F.R. ยง 1020.220 lists a “taxpayer identification number” as the required identifier, and an ITIN qualifies.1eCFR. 31 CFR 1020.220 – Customer Identification Program Requirements for Banks Individual banks still decide whether to accept ITIN customers, so acceptance varies by institution and sometimes by branch, but the legal door is open.
Is It Legal for Banks to Accept an ITIN
Section 326 of the USA PATRIOT Act requires every U.S. bank to run a Customer Identification Program that verifies who is opening an account.2Financial Crimes Enforcement Network. USA PATRIOT Act The implementing regulation tells banks to collect your name, date of birth, address, and an identification number before the account opens.1eCFR. 31 CFR 1020.220 – Customer Identification Program Requirements for Banks For U.S. persons, that identification number is a taxpayer identification number, which covers both SSNs and ITINs. For non-U.S. persons, the rule is broader and also allows a passport number, an alien identification card number, or another government document showing nationality or residence.
The regulation also permits banks to open an account for someone who has applied for an ITIN but not yet received it, provided the bank confirms the application and obtains the number within a reasonable time after opening. Not every bank offers this, but it is worth asking about if your W-7 is still pending.
A bank that turns you away for lacking an SSN is applying its own policy, not federal law. If one branch says no, another institution often says yes.
Documents to Bring
Plan on three things: your ITIN assignment notice, a government-issued photo ID, and proof of your address.
- Your CP565 notice. This is the letter the IRS mailed when it assigned your ITIN. The bank uses it to confirm your number and to report any interest your account earns. If you have lost yours, contact the IRS to request a replacement.3Internal Revenue Service. Individual Taxpayer Identification Number (ITIN)
- A current, unexpired photo ID. A valid foreign passport is the strongest option because nearly every institution recognizes it. Banks may also accept a consular identification card or a foreign driver’s license.4Office of the Comptroller of the Currency. I Want to Open a New Account – What Type(s) of Identification Do I Have to Present to the Bank?
- Proof of your U.S. address. A recent utility bill or a signed residential lease showing your name works at most banks. Some ask for this only when neither ID shows a current U.S. address.
Check that the name on your CP565 notice exactly matches the name on your photo ID. Mismatches in spelling or word order are a common reason applications stall, and the fix has to come from the IRS, not the bank. Resolve any discrepancy before your appointment.
On the application, enter your nine-digit ITIN in the field labeled “Taxpayer Identification Number” or “Social Security Number.” ITINs begin with the digit 9 and are formatted the same way as an SSN.5Internal Revenue Service. Taxpayer Identification Numbers (TIN)
Which Banks Accept ITINs
Acceptance varies. Wells Fargo is one of the most transparent about it: their account-opening page states you can use either an SSN or an ITIN for both online and in-branch applications and lists the primary and secondary IDs they accept.6Wells Fargo. What You’ll Need to Open an Everyday Checking Account Bank of America says an SSN is not required and accepts foreign tax identification numbers for international professionals.7Bank of America. How to Open a Bank Account as an International Professional Chase does not specifically list ITINs in its public identification guide, so policy there appears to vary by branch.
Credit unions and Community Development Financial Institutions often provide the most accessible path. Many have explicit missions to serve immigrant and underbanked communities, and their staff tends to have more experience processing ITIN applications. Credit unions carrying the Juntos Avanzamos designation specifically signal that they welcome members regardless of immigration status.
Before visiting any branch, check the website for account-opening requirements. If ITINs are not mentioned, call the specific branch and ask to speak with someone who handles new accounts. Some locations require an appointment so a specialist can verify your documents. A short phone call can save you a wasted trip.
Online Applications Usually Won’t Work
Most banks’ online account-opening systems are built around Social Security Numbers and cannot process an ITIN through the digital portal. Expect to visit a branch in person. Some fintech services like Wise and Revolut may let you open an account with a passport and no SSN, but those accounts may not carry FDIC insurance, which matters if you plan to keep any meaningful balance. Deposits at FDIC-insured banks and NCUA-insured credit unions are protected up to $250,000 per depositor whether you opened the account with an SSN or an ITIN.
What Happens at the Branch
The banker will review your documents and cross-check the name on your CP565 against your photo ID. You will sign a signature card, which is the bank’s official record of your signature for verifying checks and withdrawals, and walk through disclosures covering fees, overdraft policies, and electronic fund transfer rights.
You will also make an initial deposit. Minimum opening deposits at most institutions run from $25 to $100, and some accounts have no minimum at all. Once the deposit clears, the banker gives you your account and routing numbers and the account is active. A debit card and any starter checks typically arrive by mail within a week or two. Watch your mailbox during that window because those items give direct access to your money.
If You Don’t Have an ITIN Yet
You apply through the IRS using Form W-7. The standard path requires you to attach a completed federal tax return, since ITINs exist for tax-filing purposes. A few narrow exceptions let you apply without a return, such as third-party withholding or treaty benefits.8Internal Revenue Service. Instructions for Form W-7 You must prove both your identity and your connection to a foreign country. A valid passport satisfies both requirements alone; otherwise you submit a combination from the IRS list of acceptable documents.
Processing takes about seven weeks outside of tax season and nine to eleven weeks between January 15 and April 30.3Internal Revenue Service. Individual Taxpayer Identification Number (ITIN) When approved, the IRS mails your CP565 notice.9Internal Revenue Service. Understanding Your CP565 Notice Keep it safe. You will need it at the bank.
If Your Application Is Denied
A denial isn’t always about the ITIN. Banks run applicants through specialty consumer reporting agencies such as ChexSystems, which track banking history like unpaid overdrafts or accounts closed for cause. A prior negative mark can follow you.
Federal law requires a bank that denies your application based on a consumer report to tell you which agency supplied the information. You can request a free copy of the report from that agency and dispute inaccurate or incomplete entries. ChexSystems must investigate a dispute and correct or delete unverifiable information, typically within 30 days.10ChexSystems. A Summary of Your Rights Under the Federal Fair Credit Reporting Act You can request your report at chexsystems.com, by mail, or by phone at 800-513-7125.
If the negative history is legitimate, look into second chance checking accounts. Several banks and credit unions offer these for people rebuilding their banking record. They usually carry higher monthly fees and fewer features, but they give you a way back into the system while your history ages off.
Tax Reporting Once the Account Is Open
Opening a bank account with an ITIN creates tax reporting obligations. If your account earns $10 or more in interest during the year, the bank files a Form 1099-INT with the IRS reporting that income under your ITIN.11Internal Revenue Service. About Form 1099-INT, Interest Income You are responsible for reporting the interest on your federal tax return.
At account opening, the bank will ask you to complete a Form W-9 or similar certification of your taxpayer identification number. If you fail to provide a valid number, or the IRS notifies the bank that yours is incorrect, the bank must withhold 24% of any interest payments and send it to the IRS as backup withholding.12Internal Revenue Service. Topic No. 307, Backup Withholding You can recover that money when you file your return, but avoiding the withholding in the first place is easier. Make sure your ITIN is current and that you certify your information accurately.
Keeping Your ITIN From Expiring
An ITIN that has not appeared on a federal tax return for three consecutive years expires on December 31 after that third year of non-use.13Internal Revenue Service. How to Renew an ITIN This is the detail that catches people off guard. If you opened a bank account with your ITIN years ago and stopped filing, your ITIN may already be expired.
An expired ITIN won’t automatically freeze your account, because banks don’t receive real-time expiration alerts from the IRS. It creates problems downstream: mismatched tax reporting, possible backup withholding, and rejection if you try to open a new account or apply for credit. Filing a tax return with an expired ITIN also causes processing delays and lost credits.13Internal Revenue Service. How to Renew an ITIN Renewal uses the same Form W-7. The simplest way to keep your ITIN alive is to file a federal return each year, even if your income is low enough that you’re not technically required to.
If You Later Get an SSN
Once you are assigned a Social Security Number, stop using your ITIN for tax purposes and notify the IRS so it can merge your records. Write a letter with your full name, mailing address, your ITIN, a copy of your CP565 if you still have it, and a copy of your new Social Security card. Mail it to the IRS at Austin, TX 73301-0057, or bring the documents to a local IRS office.3Internal Revenue Service. Individual Taxpayer Identification Number (ITIN) The IRS will void the ITIN and tie your prior tax history to the SSN. If you skip this step and your records stay split between two numbers, you may not get credit for wages and withholding filed under the ITIN.
On the banking side, take your Social Security card to a branch and ask to update your account. Your account number, balance, and history stay the same.