If you’re looking to open a US bank account from abroad, you’ve probably come across the many benefits it can offer.
Whether you’re looking to transact in USD, acquire a US credit card, or you need a safer banking jurisdiction, non-residents can unlock these perks and more when opening a bank account in the United States. And, if you choose the right bank, you can even open a US bank account without an SSN or ITIN.
- Not all US banks accept online remote account opening
- Opening a bank account from overseas can save you money and time
- Finding banks that accept non-residents can be difficult to navigate
- Non-residents can unlock lucrative US credit card rewards programs
Feel free to use the table of contents to jump ahead to the sections most relevant to you
Table of Contents
- Can Non-Residents Open US Bank Accounts From Abroad?
- Who Can Open a US Bank Account?
- Reasons to Open a Bank Account in the US From Abroad
- Challenges of Opening a Bank Account in the US From Abroad
- How to Start Opening Accounts With a US Bank
- Frequently Asked US Banking Questions
- Do You Want Help Opening Bank Accounts?
Can Non-Residents Open US Bank Accounts From Abroad?
Yes, non-residents can open US bank accounts from abroad. However, not all US banks accept non-residents, let alone offer remote account opening. So, knowing which bank to contact is crucial.
Naturally, if you go into the account opening process blind, not prepared, and don’t know which financial institutions offer online remote opening for non-residents, you may be in for a rude awakening.
Fortunately, in this article, we’ll not only share who can open accounts in the USA from abroad but also why you or your business might want to open a bank account there.
Of course, we’ll also cover the challenges you’ll face when opening accounts in the US. We’ll discuss how to navigate these challenges so you can successfully open a bank account in the US as a non-resident.
If this is your first time visiting GlobalBanks, don’t forget to download your free US Bank Account Opening Guide. It’s designed to help non-residents open accounts in top banking hubs around the world.
If you’re already a GlobalBanks USA member, you can start opening a personal or business bank account in the US remotely online right now at real, brick-and-mortar banks without ever stepping foot in the US. Just visit your Members Dashboard to get started.
If you’re not a GlobalBanks USA member, keep reading to learn how you can start opening accounts in the US on your own.
Who Can Open a US Bank Account?
Typically, those people who can benefit from opening a bank account in the US include non-residents, expats, digital nomads, and international foreign business owners.
These people also include citizens and residents of India. Yes, they too can also open US accounts from India. In fact, citizens and residents of India can open an account in the US online from India.
However, opening an account in the US comes with challenges. Generally speaking, with the proper information and some patience, non-residents can open a personal account and business account in the US from overseas.
Of course, the financial institutions that are available to you will depend entirely on your client profile, desired services, and how much money you’re willing and able to deposit.
Before we jump into the challenges, let’s take a look at specifically who can open a bank account in the US from abroad.
Client Groups Who Can Open Bank Accounts in the US From Abroad
- Foreign non-resident (with or without an ITIN or SSN)
- US citizens living outside of the US
- Non-residents investing in US products
- US businesses with no US operations
- Foreign businesses with no US operations
- Offshore companies with no US operations
- International businesses that serve customers in the US
- International businesses that have suppliers in the US
- Non-residents requiring remote online account opening
- Non-residents that need to send money to family in the US
- Frequent international US visitors
As you can see, many different client groups can open online bank accounts in the US from abroad.
Whether you are looking to open a USD bank account online for your non-resident LLC or your foreign company has US operations, you can open a bank account in the US from abroad.
But, as mentioned above, the financial institutions that will accept your client profile and open a bank account remotely depend on your personal banking needs, the services you are after, and whether or not you can meet the bank-specific requirements.
Now, if you do fall into one of these categories and you’re wondering why you should consider banking in the US, we share the reasons below.
Reasons to Open a Bank Account in the US From Abroad
There are many reasons why non-residents (or international businesses) may want to open accounts in the US from abroad.
For instance, if you don’t want the expense of traveling to the US, it makes sense to open remotely online.
And, not to mention, you’ll avoid the hassle of visiting multiple banks, hopping between branches, and trying to find a banker who understands (and accepts) non-resident clients. This can certainly increase your travel expenses and unfortunately, it doesn’t usually result in opening a bank account.
So, if you want to avoid the headache of visiting multiple banks and the expense of traveling to the US, you might want to consider opening an account in the US remotely online.
Here are four additional reasons why a non-resident should consider opening a bank account in the US from abroad.
- Flights to the US are not necessary ($$$)
- Hotels in the US are not necessary ($$)
- Local travel via taxi, subway, etc. are not necessary ($)
- Extra food expense while traveling is not necessary ($)
Of course, there are plenty of reasons why non-residents want to open a bank account in the US besides saving money. We list six of these reasons below.
- Access US credit cards & travel rewards
- The US does not participate in CRS
- Access to US investment & crypto exchanges
- Low minimum deposits compared to other countries
- $250,000 FDIC deposit guarantee
- Credible and safe banking system
As you can see, there are many incentives for foreign non-residents to open online US accounts, especially from overseas.
In fact, one of the top reasons why non-residents are interested in opening a bank account in the US is being eligible for a US credit card.
US credit cards offer attractive and profitable awards that many credit card providers from other countries just don’t offer. However, to obtain US cards as a non-resident (or business owner), you need to have the right information.
If you’re interested in learning more about how to unlock the benefits of US personal (and business) credit cards, you can unlock the step-by-step instructions in our premium report “US Credit Card Strategies For Foreigners and Non-Residents” when you join GlobalBanks USA.
But, for now, let’s look at the challenges you’ll most likely face when you open a bank account in the US from abroad.
Challenges of Opening a Bank Account in the US From Abroad
Before applying to open an account in the US from abroad, you should understand that the challenges you face will largely depend on your client profile and how you proceed with the online account opening process.
For instance, one client profile may face more challenges than others. And, some client profiles may have an easier time opening a bank account in the US. Ultimately, it comes down to being well prepared and understanding which banks (and bankers) will open US bank accounts for you.
So, with that said, let’s take a look at the eight challenges you could face when you open a bank account in the United States from overseas.
US Non-Resident Personal Bank Account Challenges
- Not all financial institutions accept online bank account applications
- Frequent bank account denials due to inaccurate documentation
- Lengthy account opening process (if not prepared)
- Difficulties opening a bank account without a US phone number
- Challenges providing accepted proof of US address
- Unable to find banks that don’t require an ITIN or SSN
- Choosing the wrong financial institutions can waste time and money
- Unable to support bank fees
Again, you may not face all of these challenges when you open an account in the US from abroad. And, not all banks have the same requirements. But, it’s important to understand the possible challenges you could face. That way, you’re well prepared and not surprised if some of them appear during your account opening process.
Not surprisingly, the way to avoid challenges is to apply for a bank account with a US bank that best suits your personal banking needs, offers the services you require, and allows non-residents to apply remotely online. However, finding financial institutions that accept non-residents remotely doesn’t come easy.
To ensure opening success, you need to know which specific bank and banker to contact and understand the bank-specific account opening process, quirks, and requirements to successfully open a bank account in the USA from abroad.
With that said, let’s dive into how you can open an account in the USA from abroad today.
How to Start Opening Accounts With a US Bank
If you’re looking to open a bank account in the United States from abroad, you’re going to need to know how to navigate the challenges, identify the specific banks that match your personal profile and understand the specific requirements you need to meet.
So, it’s important to choose financial institutions that not only accept your client profile, but that align with your personal financial needs and desired banking services.
To do so, it’s important to consider the following eight questions.
Questions to Ask Before Opening US Bank Accounts Online
- Does the bank account have a monthly maintenance fee?
- Does the bank account have restrictions on where I can send money to and from?
- Is the bank account equipped with a Visa or debit card?
- Does the bank require proof of an ITIN or SSN to open US bank accounts?
- Are there any foreign transaction fees associated with the bank account?
- What other bank fees are associated with the bank account?
- Can you access your money from your US account anywhere in the world?
- Does the bank account offer the services you need?
Of course, you can follow the steps outlined in this article. Or, you can access our premium bank account reports that are dedicated to opening personal and business accounts for non-residents in the USA.
This report covers all of the information needed to find and apply for accounts with US financial institutions, including guidance on which banks are best for which client profile and how to open accounts 100% remotely online.
You can access this and all of our premium USA banking reports immediately when you join GlobalBanks USA.
Frequently Asked US Banking Questions
Below are a few of the most common questions we receive from people exploring how to open a US bank account from abroad. If you have further questions you would like answered, don’t hesitate to get in touch.
Can I Open an Online US Bank Account?
Yes, you can open online US bank accounts. However, in most cases, these bank accounts are only accessible to non-resident US businesses (US LLCs). On the other hand, US individuals can open accounts with online banking platforms while non-US individuals will be able to open with traditional brick-and-mortar banks in the United States remotely instead.
How Do People Open US Bank Accounts Online From Abroad?
People open US bank accounts online from abroad by using services like GlobalBanks USA. GlobalBanks USA is a dedicated US bank account opening solution that offers remote account opening through direct banker introductions and targeting the correct banks that match client profiles.
Can Foreign Businesses Open US Business Bank Accounts?
Yes, foreign businesses can open US business bank accounts. In fact, both foreign and offshore entities can open US bank accounts remotely. That said, very few US banks accept foreign entities. With this in mind, it’s important to choose financial institutions that meet your business banking needs, offer banking products and services you’re after, and have account opening requirements you’re able to meet.
Can a Non-Resident Company Apply for US Business Credit Cards?
Yes, a non-resident company can apply for US business credit cards if the company has an established credit history in the United States. Alternatively, certain non-resident US LLCs can apply for US credit cards through the member. However, if the member is a foreign non-resident, they will need to have a US credit history and an Individual Taxpayer Identification Number (ITIN).
Do You Want Help Opening Bank Accounts?
If so, you can get access to GlobalBanks USA (our dedicated US account opening service) in just a few clicks.
GlobalBanks USA is a 100% personal account opening solution. It provides direct access to our team of US banking experts.
When you join, you receive…
+ Expert suggestions on where to open US bank accounts.
+ Step-by-step support to navigate US account opening.
+ Direct introductions to helpful and responsive bankers.
+ Plus, detailed guides to maximizing the value you get from your new USA bank account.
And “yes!” GlobalBanks USA helps foreigners and non-resident individuals open accounts.
In fact, GlobalBanks USA even helps non-resident US LLCs and foreign & offshore entities.
To learn more about opening accounts with GlobalBanks USA, just click here now. Or, contact us directly with any questions!