USA Banking

Open US Bank Accounts for Non-Residents & Businesses

Open US Bank Accounts for Non-Residents & Businesses

US Bank Account Opening

Your Guide to US Banking for Non-Residents, Foreigners, & Int'l Businesses

Opening bank accounts in the US has never been more difficult... but it's still 100% possible.

In this article, you'll get the same powerful hacks and insights that we provide to our GlobalBanks USA members -- shaping the way they find, apply to, and leverage US bank accounts to help themselves and their businesses.

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US Banking 101

When it comes to US banking for non-residents, finding the right bank can make the difference between rejection or acceptance, free banking or extortionate monthly fees, and accessing the services you want or not.

Of course, the differences don’t stop there… 

Certain banks in the US offer better security, more responsive customer service, a greater understanding of specific client profiles, a wider range of products, and many other benefits.

In other words, in order to successfully open a US bank account and access the services you need, you must choose the right bank in the first place.

And, since most foreign non-residents are unable to travel to the US, you also need to find a bank that will open accounts remotely.

Fortunately, all of this is possible when opening a US bank account. Of course, you need to know which bank to approach, which strategy to use, and meet the bank’s account opening requirements.

We break down everything you need to navigate these challenges in our US Bank Account Opening Guide, available above. But, if you’d like a bit more information before downloading your free copy, continue reading below.

Personal Banking in the US

Can a Foreigner Open a Bank Account in the US?

In our free US Bank Account Opening Guide, we go into detail about which non-resident individuals can open US bank accounts. 

But, ultimately, anyone who has a reasonable need for a US bank account can open one. The key, as mentioned above, is knowing which specific bank will accept you. 

With this in mind, here’s a quick look at which non-residents can open US bank accounts:

  • Foreign non-resident without an ITIN
  • Foreign non-resident without an SSN
  • Foreign non-resident with an ITIN
  • Foreign non-resident with an SSN
  • Non-resident US citizen with an SSN

However, just because you can open a bank account doesn’t mean you will be able to access the benefits that you’re most interested in. 

Again, this is why it’s important to understand which banks matches your needs before applying. 
 

In general, the benefits that non-residents can unlock when opening a US bank account are broken down into the following four categories:

  • Affordability
  • Accessibility
  • Financing
  • Security

Of course, which benefits are most important to you will depend on your banking objectives and the type of account you are looking to open. 

Bottom line: Personal US bank accounts are available for foreign non-resident individuals. But, in order to successfully open an account they must approach the right bank and have the right approach going in.

 

Business Banking in the US

Reasons to Open US Bank Account from Abroad

When it comes to opening business bank accounts in the US, the account opening process can be more challenging and expensive. This is especially true when opening accounts for foreign, non-resident, or offshore companies. 

That said, what is most surprising to foreign non-resident business owners is that they can successfully open US business bank accounts for these entities. 

Here’s a quick look at the various businesses that can open US bank accounts:

  • Foreign non-resident businesses
  • Offshore non-resident businesses
  • Foreign owned single member US LLCs (FOSM LLC)

Of course, there are some restrictions on jurisdictions, which ultimately are determined by the regulatory bodies that determine which countries are high risk. 

But, if your foreign company is from a low-risk country, opening a US business bank account is 100% possible. 

That said, as is the case with personal accounts, not all banks will open US bank accounts for a foreign company. So, if this is your objective, you must know which banks to approach in order to successfully open. 

Alternatively, if you are looking to open a US business bank account for a non-resident US LLC, you will have more options available to you. 

However, most banks will higher account opening requirements and will only accept established businesses. But, remote account opening is 100% possible so long as you can meet these requirements. 

If you own a US LLC and you want remote account opening but your business is not yet established, there are still options available. They will just be more limited than those that an established business can access.  

Download: 'US Bank Account Opening Guide'

US Bank Account Opening

Challenges of US Banking

How to Open US Bank Account from Abroad

More than any other banking jurisdiction, opening a bank account in the US can be extremely difficult to navigate. 

There are many reasons for this, including low-quality service providers, un-informed bankers, and useless information on the internet. 

In fact, most resources that you can find online are dedicated to helping people with a US tax ID (SSN or ITIN) open US bank accounts. 

The problem is, most non-residents do not have a US tax ID, so this kind of information doesn’t help them at all. 

But, these aren’t the only challenges you’ll face when opening a US bank account. 

And, as you’ll see below, most of the challenges related to US bank account opening are tied to finding the right bank. Let’s take a look:

The #1 Challenge When Opening US Bank Account is Finding a Bank That:

  • Accepts foreign non-residents
  • Accepts your citizenship & residency
  • Does not require an in-person visit
  • Offers the specific services you require
  • Allows transactions to the countries you require
  • Opens accounts with your desired deposit
  • Offers credit card and debit card facilities
  • Won’t terminate your account after it’s opened

Unfortunately, if you don’t know where to look, who to talk to, or even which banks are already accepting clients like you, opening a US bank account can be extremely challenging. 

Of course, there are many other challenges that you will need to navigate as well, including the application process, document preparation, and more.

Start Opening Now!

opening a us bank account as a non resident - feature

The free guide available on this page is your starting point. It exists to help foreign non-residents like you cut through the noise surrounding US banking to finally develop an actionable plan for opening bank accounts.

It’s based on the experience of our team, spanning more than a decade of helping foreign non-residents navigate account opening in top banking hubs around the world, including in the US.

Our team has spent thousands of hours researching banks, meeting with bankers, and collecting first hand experiences to better inform account opening practices for foreign non-residents.

In doing so, we’ve mapped the international banking world, found the best banks in top jurisdictions, and developed trusted relationships with personal, private, and corporate bankers.

So, if you’re ready to start opening US bank accounts, you’ve come  to the right place. But, this guide is just the beginning.

When you’re ready to receive direct introductions to bankers in the US, expert suggestions on which banks to consider, and detailed strategies on how to open and benefit from your US bank account, we’re here to help. 

You receive all of this and more when you join GlobalBanks USA.

GlobalBanks USA is our dedicated US bank account opening service, which includes one-on-one support, a dedicated account manager, and the support of our team to open the accounts you need in the US. 

If you’re interested in learning more about GlobalBanks USA, just keep reading below… 

Ready To Open Accounts?

Here’s how you can access the tools, intelligence, and key contacts you need to open US bank accounts as a non-resident foreigner, or for your foreign or offshore business today. 

GlobalBanks USA

The #1 US Bank Account Opening Solution Available

The #1 US Bank Account Opening Solution Available

GlobalBanks USA Account Opening

👨‍💻 Dedicated Account Manager

🤝 Direct Banker Introductions

☎️ Remote US Bank Account Opening

💡 US Banks for Foreign Non-Residents

👍 US Banks for Foreign Owned US LLCs

🏝️ US Banks for Offshore Companies

👨‍💻 Dedicated Account Manager

🤝 Direct Banker Introductions

☎️ Remote Opening Options

💡 Foreign Non-Residents

👍 Foreign Owned US LLCs

🏝️ Banks for Offshore Companies

Still Need More Proof?

If you’re not ready to unlock the power of GlobalBanks USA, you can still access more great content from GlobalBanks for free. 

Below is a selection of our free US banking articles, all focused on helping you and your business unlock the benefits of US banking.

Continue Reading US Banking Articles

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