Citizens and residents of India can open a US bank account from India. Yes, you read that correctly.
Remote account opening is 100% possible. Even from India.
Of course, each bank and its onboarding processes can differ, including requirements that need to be met. But, with the right bank, you could also open a US bank account without an SSN or ITIN.
However, it’s crucial you choose a bank that is best suited to your specific banking needs. But also, a bank with requirements you can meet.
- It is 100% possible for residents of India to open a US bank account
- Specific requirements need to be met to open US bank accounts
- Not all banks offer US bank accounts to residents of India
- Residents of India can unlock many benefits from having a US bank account
Don’t forget to download your FREE USA Banking Starter Guide. It’s designed to help non-residents open accounts with top banks in the US.
In this article, we’re going to share everything you need to know on how to start opening US bank accounts from India. Including the challenges you’ll have to overcome to successfully open an account in the USA.
But that’s not all.
Feel free to use the table of contents to jump ahead to the sections most relevant to you.
Table of Contents
- How to Open a US Bank Account From India?
- Why Open an American Bank Account From India?
- What Are the Challenges of Opening US Accounts From India
- What Are the Benefits of Opening an Account Online in the USA From India?
- What Are the Requirements for Opening an Account in the USA From India?
- Can I Open a Non-Resident Account in the USA From India?
- Frequently Asked USA Banking Questions
- Do You Want Helping Opening Bank Accounts?
How to Open a US Bank Account From India?
To open a US bank account from India, you will need to meet specific requirements, submit supporting documents, and overcome the bank’s onboarding process. In addition to these requirements, you will also need to know which bank, branch, and even banker will accept you as a resident of India.
If you go into the application process blind and don’t know which banks will accept you or which banks offer the benefits you’re after, you’re likely going to have a difficult time opening a US bank account from India. Here’s a closer look at the specific requirements.
How to Open a US Bank Account From India (No SSN or ITIN)
- Select a bank that accepts Indian nationals
- Participate in an account opening interview
- Collect the necessary account opening documents
- Complete and submit an account opening application
- Submit copies of government-issued identification
- Make a qualifying deposit
We’ll discuss these steps in greater detail below. However, let’s first explore why you may want to open an American bank account from India in the first place.
Why Open an American Bank Account From India?
There are many reasons why citizens and residents of India are looking to open US bank accounts from the comfort of their own homes.
And not only because it’s 100% possible to do, but because of the benefits US banking can offer residents of India.
Here are nine reasons why citizens and residents of India are interested in opening a US bank account from India.
Reasons for Opening Accounts in the USA From India
- Need to send money to family living in the US (save on transfer fees)
- Work for a USA-based company
- Planning on making frequent visits to the US
- You conduct business in the US
- You have employees or contractors living in the US
- Wanting to invest in the US stock market
- You have suppliers based in the US
- You have a large customer base in the US
- Access US credit cards and travel rewards
If you fall into one of these categories, you might want to consider opening a personal or business bank account in the USA from India.
In fact, as we’ll get into below, opening US accounts can offer unique benefits that you can’t access anywhere else.
That said, it’s important to note, (like banking anywhere) there are challenges that residents of India need to overcome to successfully open accounts in the USA.
So, with that said, let’s look at the challenges residents of India will face when opening a US bank account.
What Are the Challenges of Opening US Accounts From India?
Before applying to open accounts from India, you need to understand the challenges you’ll likely face.
That said, the challenges you face will highly depend on your client profile, your specific banking needs, and how you proceed with the account opening process.
In fact, the bank you choose to open with can have an impact on your account opening experience.
That’s why it’s important to not only choose a bank that accepts your client profile, but one that will cater to your specific banking needs and wants.
Ultimately, it comes down to being well prepared and understanding which banks (and bankers) will allow you to open a US bank account from India.
So, to help prepare you, let’s look at eight challenges you likely will face during the account opening process.
Challenges of Opening Accounts in the USA From India
- Not all banks accept remote account opening
- Unable to meet bank-specific requirements from abroad
- Difficulties opening without a US phone number
- Choosing the wrong bank can waste time and money
- Account opening process can be time-consuming (if not prepared)
- Challenges in providing an acceptable US address
- Application and monthly fees can apply
- Challenges finding banks that don’t require an ITIN or SSN
As you can see, there are challenges citizens and residents of India will face when opening US bank accounts.
And the biggest challenge many residents of India face is knowing which specific bank and banker to contact. Not to mention, understanding the bank-specific account opening quirks and requirements you need to meet as a non-resident of the US.
That said, some of these challenges can be completely avoided if you know which bank and banker to open with.
And, if you’re able to navigate these challenges properly, you’ll successfully open a US bank account from abroad and start unlocking unique benefits you likely can’t access anywhere else in the world. More on this below.
What Are the Benefits of Opening an Account Online in the USA From India?
Although opening accounts in the US from India has its challenges, it can be worth the trouble. In fact, many citizens and residents of India look to open a bank in the USA because of the opportunities it presents.
For instance, whether you need a USD account, want to access US brokerages or investment products, or acquire a US credit card to earn travel rewards, opening a US bank account from India can do all that and more.
Of course, the benefits one client group may unlock may differ from the next client group. So, it’s important to understand all the potential benefits you can access as a citizen of India when opening a US bank account.
That way, you can ensure you’re opening with a US bank that can offer the benefits you’re after.
With that said, let’s look at seven benefits residents and citizens of India can unlock when they open a US bank account from India.
Benefits of Opening Accounts in the USA From India
- Deposit insurance of up to US $250,000
- Ability to invest in US stocks, ETFs, and other products
- Ability to apply for US credit cards (to earn travel rewards)
- Can build a US credit score & history
- Ability to avoid excessive foreign transaction fees
- Grow your money in a stable banking jurisdiction to avoid Rupee (INR) inflation
- Ability to access mortgages & financing
Now, depending on your client profile and banking needs, you can access most (if not all) of these benefits. Including the top benefit many foreign non-residents around the world are interested in: US credit cards.
US credit cards provide attractive and profitable rewards that you can’t access anywhere else in the world. In fact, no other country even comes close. And, non-US residents can access them, even from India.
Of course, you need to have the right information… luckily, we can help.
If you’re interested in learning more about US credit cards, we share step-by-step instructions on how to unlock the benefits, including the specific strategies on how to choose the right credit card for your unique client profile in our premium members-only report “US Credit Card Strategies For Foreigners and Non-Residents”.
You can access this report immediately when you join GlobalBanks USA (more info below).
Now that you understand the challenges you’ll need to overcome and the benefits you want to unlock, it’s important you know the specific steps and requirements you need to take to start opening US bank accounts from India.
So with that said, let’s look at what you need to open bank accounts in the US from India.
What Are the Requirements for Opening an Account in the USA From India?
As mentioned, opening accounts in the USA as a citizen or resident of India is challenging. In fact, it can be very time-consuming and frustrating if you’re not well prepared.
But, it’s still possible.
To do so, you need to know which bank, branch, and even bankers are best suited to your client profile. Not to mention, understanding each bank’s account opening quirks and requirements before applying.
That said, as a citizen or resident of India, you may be required to provide additional documents when opening accounts in the US from India.
So, before applying, you must understand all the required documents that need to be submitted. This way, you can increase your chances of opening accounts in the US from India.
Here is a look at seven of the most common requirements you’ll need to meet.
Requirements Needed for Opening Accounts in the USA From India
- Indian passport
- Valid US visa (if applicable)
- Proof of address in India
- India Tax Identification Number
- Proof of employment & source of wealth
- Bank-specific application
- Account opening deposit (usually $3,000+)
Of course, to successfully open a bank account in the US from India, you need to meet the mentioned requirements. That said, depending on the bank you choose to open with, your client profile, and your specific banking needs, these requirements can vary.
So, before you start applying, you need to understand the bank-specific requirements you’ll need to meet according to your client profile.
Can I Open a Non-Resident Account in the USA From India?
Account opening in the USA isn’t an easy process for foreign non-residents. Especially citizens and residents from India.
That said, it’s still 100% possible.
But, as you know, there are challenges to overcome. From meeting bank-specific requirements to knowing which bank will accept you as a client.
Fortunately, GlobalBanks can help – more specifically, GlobalBanks USA.
GlobalBanks USA is the number one US bank account opening service available anywhere. It helps foreign and non-resident individuals (and their businesses) open bank accounts in the United States.
This includes the direct one-on-one support you need to find and open accounts with real brick-and-mortar banks that match your client profile. Not to mention, 100% remotely from India.
Additionally, you’ll also receive direct introductions to US bankers who are ready to help you through the account opening process.
Plus, when you join GlobalBanks USA, you receive access to our library of premium members-only US Banking Reports, our US Bank Database, and a dedicated account manager to help you navigate your options.
Frequently Asked USA Banking Questions
Below is one of the most common questions we receive from people exploring how to open a US bank account from India. If you have further questions you would like answered, don’t hesitate to get in touch.
Can I Open a Chase Account From India?
A Chase bank account in the United States can be opened from India for certain businesses. However, personal bank accounts at Chase require an in-person visit to a branch in the United States. That said, there are other US banks that will open accounts for Indian nationals without an in-person meeting. To explore these options, contact GlobalBanks and ask about GlobalBanks USA.
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!