How to Open a Bank Account as an International Professional (2024)

FAQs

How to Open a Bank Account as an International Professional? ›

You'll need to provide both a foreign and U.S. address, as well as two forms of ID and a tax identification number. This must include building name or number and street name, city or town, state or province, country.

Non-U.S. citizens can open bank accounts in the U.S., but they may need to go through extra steps, especially if they're nonresidents. Some banks and credit unions accept alternative forms of identification, such as an Individual Taxpayer Identification Number (ITIN), for non-U.S. citizens to open accounts.

You can choose to open your international bank account online by visiting your bank's website and submitting the application form with the Know Your Customer (KYC) documents. Upon successful completion and verification of your application, your account will be opened.

Is it illegal for a U.S. citizen to have a foreign bank account? No, it's not illegal for a U.S. citizen to have a foreign bank account. However, it is essential to ensure all IRS and compliance requirements are met, including the disclosure of such accounts.

Can I open a bank account without a SSN? Yes, it's possible to open a bank account as an undocumented immigrant or without having a Social Security number. You'll need to provide other forms of proof of ID, such as a passport, driver's license, consular ID or birth certificate.

The best bank for international banking depends on your financial needs. Our top picks are J.P. Morgan, Bank of America, Citibank, HSBC, and Standard Chartered.

Offshore accounts are legal, provided that you set them up correctly and use them legally. It's the exact same thing for domestic accounts. After all, you can't set up a business bank account in America, then use that business account for criminal activities and expect to keep it and the assets you store inside it.

Chase is the U.S. consumer and commercial banking business of JPMorgan Chase & Co. (NYSE: JPM), a leading global financial services firm with $2.6 trillion in assets and operations worldwide.

Can I open a bank account in a country I don't live in? ›

A non-resident bank account is an account you can open in a central location based in a country or territory you don't currently live in. These accounts are also referred to as Offshore Bank Accounts or Offshore Accounts.

To open an account with Citibank US, you'll usually need to be a local US resident, with a proof of ID and address. Resident aliens can usually apply, using a foreign proof of ID — such as a passport — and their Green Card or similar paperwork to show legal residence in the US².

Large banks

However, larger banks such as US Bank, TD Bank, Bank of America, Chase, and Wells Fargo will allow non-residents to set up a checking account and a savings account. Instead of your SSN, they'll ask for an Individual Taxpayer Identification Number (ITIN) and other documents.

Yes, a foreigner can open a bank account in the US without needing a US address. However, not all banking institutions allow for it. Even traditional banks that do offer accounts to non-residents often have requirements – like opening the account in person – that make it difficult for non-residents to apply.

Acceptable Forms of ID for Banks

Financial institutions that require two forms of ID may want at least one of the IDs to be a photo ID. This can include photos on a Passport or Driver's license.

Can I open an account if I'm not a permanent U.S resident? If you're a non-resident alien with a primary residence in the U.S. or its territories, you can apply in person by making an appointment to apply in person at a Wells Fargo branch.

Chase has a comprehensive range of accounts which are available to non-resident customers with a local US tax ID number and address. For checking accounts you'll find packages like the popular Chase Total Checking, or the Chase Premier Plus Checking accounts.