Bank accounts make handling financial obligations convenient. Automatic bill pay, money transfers, and direct deposit are features that help make your life easier because of a bank account. To open a one, banks require personal information from you. This typically includes a physical address. If you don’t have a permanent address, learn what one is and if you can open a bank account without an address.
Unfortunately, most banks in the US require account holders to have a physical address. Federal banking regulations set by the Federal Deposit Insurance Corporation (FDIC) require banks to obtain a physical address from account holders. This regulation is intended to prevent money crimes, like identity theft and money laundering, and to mail relevant items from banks to account holders. Banks will mail debit cards, credit cards, monthly statements, and other items.
However, your physical address does not have to be your permanent address. If you are staying with a family member or friend, you can use their address. The most important piece for the bank to confirm your address is a “proof of address.” Mail that qualifies as proof of address includes the following:
- Utility bill
- Posted mail with your name
- Insurance card
- Driver’s license
- Lease agreement or mortgage statement
- Voter registration card
For individuals without a permanent address, posted mail with your name is your best option. Check to see if you have utility or phone bills. If you don’t have a physical address, there are other banking options that allow you to use a P.O. box. However, you will still need to provide proof of address. If you have a family or friend without a bank account, there are alternative options to send them money.
Download the Western Union app
Transfer money to other countries around the world even if you don’t have a bank account. Download the Western Union app for a fast and convenient way to send money to your family and loved ones.
Requirements to open a bank account
In addition to proof of address, banks require account holders to be 18 years of age, unless a minor is listed as a joint account holder with a parent or guardian. Banks will also ask you to provide other personal information. Make sure you have the following documentation to open an account:
Government-issued ID
Banks require you to have a form of government ID. Your ID verifies that you are who you say you are so you can conduct transactions. Acceptable forms of identification include a passport, a state driver’s license, state issued identification card, or a military identification card. Before you head to the bank, call to confirm your form of ID will be accepted.
Social security card
Banks request a valid Social Security number (SSN) to open an account. Make sure to bring your social security card to open an account. If you are a non-resident alien or immigrant, you can obtain an Individual Tax Identification Number (ITIN) issued by the Internal Revenue Service. To get an ITIN, make sure to fill out the IRS Form W-7. You have to prove your foreign/alien status, identity, and provide an income tax return.
Send money to loves ones at home
If you are an immigrant residing in the United States, send money internationally to your family and loved ones. You can use our website or the Western Union app. If you prefer to send money in person, you can visit an agent location.
