To open a U.S. bank account as a non-resident, you generally need five things: a valid passport, a second form of ID, a U.S. taxpayer identification number (or proof you have applied for one), a completed IRS Form W-8BEN, and a document tying your name to a physical address. Most major banks also require an initial deposit and an in-person visit to a branch. These non-resident bank account requirements come out of federal rules that make every bank run a Customer Identification Program strong enough to build a “reasonable belief” it knows who you are before opening your account.1eCFR. 31 CFR 1020.220 – Customer Identification Program Requirements for Banks The process takes longer, costs more, and demands more paperwork than a domestic account.
Identity Documents
Your passport is the single most important document. Federal rules for non-U.S. persons require banks to collect at least one of the following: a taxpayer identification number, a passport number with country of issuance, an alien identification card number, or the number from another government-issued document showing nationality or residence and including a photograph.1eCFR. 31 CFR 1020.220 – Customer Identification Program Requirements for Banks A foreign passport satisfies both the photo-ID and the nationality requirements at once, which is why banks default to asking for it.
Most banks will also want a second form of identification because examiners encourage review of more than one document to reduce fraud risk.2FFIEC BSA/AML InfoBase. FFIEC BSA/AML Examination Manual – Customer Identification Program A national ID card or a foreign driver’s license usually works. If either document is not in English, expect the bank to require a certified translation before it will proceed.
Every ID must be unexpired. Illegible copies and mismatched name spellings between documents are among the fastest ways to get an application rejected. Banks also run periodic reviews after opening, so a passport near its expiration may trigger an update request within months.
Taxpayer Identification Number
Banks are required to collect a taxpayer identification number from every account holder. For non-residents who don’t qualify for a Social Security number, that means an Individual Taxpayer Identification Number (ITIN). You apply by filing IRS Form W-7.3Internal Revenue Service. Instructions for Form W-7
The W-7 requires either your original identification documents (typically your passport) or certified copies from the issuing agency. Certified here means stamped by the government that issued the document, not by a notary. To avoid mailing your original passport, you can work through an IRS-authorized Certifying Acceptance Agent who verifies your documents in person and forwards certified copies to the IRS.
Processing runs about seven weeks under normal conditions, and nine to eleven weeks if you file between January 15 and April 30 or from overseas.4Internal Revenue Service. How to Apply for an ITIN Some banks will open an account while your ITIN application is pending as long as you can show evidence you have applied. Others won’t. If timing matters, start the W-7 well before you plan to walk into a branch.
What an ITIN Does and Doesn’t Do
An ITIN exists for federal tax purposes only. It does not entitle you to Social Security benefits, establish any right to work in the United States, or say anything about your immigration status.5Internal Revenue Service. Topic No. 857, Individual Taxpayer Identification Number (ITIN) For basic banking, it functions much like an SSN. You can use it to open checking and savings accounts, and some credit card issuers accept it. Access to certain credit products and online features may still be more limited than for SSN holders.
Form W-8BEN
This is the form most non-residents don’t know about until the banker slides it across the desk. Form W-8BEN tells the bank three things: you are not a U.S. person, you are the beneficial owner of any income the account earns, and (if your home country has a tax treaty with the U.S.) you are eligible for a reduced withholding rate on that income.6Internal Revenue Service. Instructions for Form W-8BEN
The stakes are real. Under federal law, U.S.-source income paid to a non-resident alien is subject to a default withholding rate of 30%.7Office of the Law Revision Counsel. 26 USC 1441 – Withholding of Tax on Nonresident Aliens That includes interest your account earns. Without a valid W-8BEN, the bank has no legal basis to apply a lower rate, so 30% comes off the top of every interest payment.8Internal Revenue Service. Instructions for the Requester of Forms W-8 Many U.S. tax treaties reduce that rate significantly, and some eliminate it entirely for bank deposit interest. The IRS publishes treaty tables showing the specific rate for each country.9Internal Revenue Service. Tax Treaty Tables
A W-8BEN generally remains valid through the last day of the third calendar year after you sign it. A form signed at any point in 2026 expires on December 31, 2029. If you move to a different country or become a U.S. resident before then, you must notify your bank within 30 days and file a new form.6Internal Revenue Service. Instructions for Form W-8BEN Letting it lapse quietly means the bank reverts to the 30% default the moment the old form expires.
Proof of Address
Banks need documentation linking your name to a physical address. A recent utility bill, lease agreement, or credit card statement showing your name and residential address will usually satisfy this. P.O. boxes won’t work because the bank needs a traceable physical location for regulatory reporting. Documents generally must be recent, though the exact cutoff varies.
The tricky part for non-residents is that some banks insist on a U.S. physical address while others accept a foreign one. If the bank requires a U.S. address, you’ll need something like a lease, a utility bill from a U.S. property, or an employer letter confirming your U.S. work location. Any mismatch between the name or address on your ID and your proof-of-address document typically triggers a request for more paperwork, so keep spellings consistent across every document you submit.
Student Visa Holders
If you are in the U.S. on an F-1 or J-1 visa, the address requirement is often easier to satisfy. Several major banks accept a student ID validated for the current term (with your photo), a university housing assignment letter, or a campus address on file with the school. Bank of America, for example, lists a current-term student ID with photo as an acceptable form of secondary identification for international students and also accepts rental agreements and utility bills.10Bank of America. Banking Essentials for International Students in the U.S. If you are arriving for the first time and don’t yet have a utility bill, your I-20 or DS-2019 paired with a university acceptance letter can sometimes fill the gap.
Initial Deposit and Funding
Most banks require an initial deposit to activate the account. The amount varies widely. Some institutions have no minimum, while others require several hundred or even several thousand dollars for premium account tiers. Common funding methods include international wire transfers, domestic checks, and cash deposits at a branch where available.11PNC. How to Open a U.S. Bank Account for Non-Residents
If you are wiring money from overseas in a foreign currency, the bank will convert it at its own exchange rate, which typically includes an undisclosed markup above the interbank rate. No major bank publishes a fixed conversion fee percentage; the cost is baked into the rate you’re quoted. Comparing that rate against the mid-market rate on the day of the transfer gives you a rough sense of the markup.
Non-resident accounts carry the same monthly maintenance fees as domestic accounts, typically ranging from about $5 to $15 depending on the account type. Most banks waive these fees if you maintain a minimum daily balance or meet a qualifying deposit threshold.12Wells Fargo. Everyday Checking Account Fees Summary If your account will sit idle for stretches, budget for these fees or pick an account with a lower balance threshold.
For larger deposits, the bank’s anti-money-laundering procedures kick in. You may be asked to document where the money came from through employment contracts, investment account statements, or records from a property sale. Having these ready before you walk in avoids the awkward pause while the banker explains why your application is on hold.
Sanctions Screening
Every bank screens applicants against the Treasury Department’s list of Specially Designated Nationals and various global watchlists. This happens automatically and is the main reason approvals can take anywhere from a few days to several weeks. The Office of Foreign Assets Control maintains active sanctions programs covering more than 20 countries and regions, including Cuba, Iran, North Korea, Russia, Syria, and Venezuela.13U.S. Department of the Treasury. Sanctions Programs and Country Information
A sanctions program targeting your country doesn’t automatically mean you can’t open an account. Some programs are comprehensive, blocking nearly all transactions with that country, while others are selective, targeting specific individuals, entities, or sectors. As a practical matter, banks err on the side of caution. Applicants from comprehensively sanctioned countries face very high rejection rates regardless of personal circumstances, and applicants from selectively sanctioned countries may encounter longer reviews or additional documentation requests. A false positive on a watchlist means delays while the bank’s compliance team resolves it.
Applying In Person Versus Remotely
The biggest logistical hurdle is that most major U.S. banks require you to open your account in person at a branch. This is the norm at institutions like Chase, Bank of America, and Wells Fargo, where the banker needs to verify your original documents face-to-face.11PNC. How to Open a U.S. Bank Account for Non-Residents If you are not already in the country, that means either timing your account opening to a trip or looking at alternatives.
A handful of digital financial providers allow non-residents to open accounts remotely through an app, with identity verification done digitally. These work well for people who need a U.S. dollar account before they arrive, but they come with trade-offs: fewer in-person support options, potential limits on cash deposits, and in some cases a requirement for either an SSN or ITIN before you can proceed.14SoFi. Bank Accounts for Non-Permanent Residents A physical U.S. address is still required at most of these providers even when the application itself is fully online.
After the Account Is Open
Your bank reports interest income paid to you on Form 1042-S, which it must file with the IRS and send to you by March 15 of the following year.15Internal Revenue Service. Instructions for Form 1042-S (2026) This form shows how much U.S.-source income you earned and how much tax was withheld, and you’ll need it if you file a U.S. tax return to claim a refund for over-withheld taxes. As a non-resident, you shouldn’t expect the 1099-INT that U.S. residents receive.
Banks also conduct ongoing reviews as part of their anti-money-laundering obligations. When your passport or W-8BEN expires, the bank will ask for updated documents. Ignoring these requests can lead to account restrictions or freezes. The W-8BEN expires roughly every three years, and your bank will typically send a reminder, but don’t count on it. Set your own calendar reminder for the expiration date.6Internal Revenue Service. Instructions for Form W-8BEN
If your circumstances change in a way that affects your tax status, you are obligated to notify the bank within 30 days. Becoming a U.S. resident, moving to a different country, or receiving a green card all qualify. Failing to update your information can result in incorrect withholding that creates problems at tax time.