Opening a US bank account for foreigners doesn’t come easy. This is especially true if you’re trying to do it on your own.

In fact, most “experts” will tell you it’s an impossible task and you’re wasting your time.

Well, they’re wrong.

It’s 100% possible to open a US bank account for foreigners, including personal and business accounts.

Opening a US Bank Account For Foreigners

To open a US bank account for foreigners, applicants will be required to present supporting documentation, valid government identification and make a qualifying deposit. However, in-person meetings are not required at some banks. That said, not all banks accept applications from foreigners. So, bank and banker selection are critical first steps in successfully opening.

Of course, if you don’t know which banks will accept your application as a foreigner you’re setting yourself up for failure.

Likewise, if you’re unaware of each bank’s specific requirements, you might be applying to banks that you can’t even access.

To help you get started, we’re going to share the step-by-step process of how to open a US bank account for foreigners.

This will include which customer groups can open accounts, the account opening challenges you’ll face, the requirements you’ll need to meet, and how to get started.

But, before diving in, if this is your first time visiting GlobalBanks, 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.

The first step is to determine whether you qualify to open a US bank account for foreigners. In most cases, the answer is probably.

But, it’s important to note, the specific banks available to you will vary depending on your client profile, deposit level, and banking requirements.

So, it’s important to clearly understand why you want a US bank account and how you plan to use it. This can help determine the best US banking options for you.

Of course, there are general client groups that can consistently open US bank accounts for foreigners. We’ll share these below to help you determine whether you might qualify for opening an account.

Who Can Open US Bank Accounts as a Foreigner:

• Foreign non-resident individuals (with or without an ITIN or SSN)
• US LLCs owned by foreign non-residents
• Foreign-owned non-resident foreign companies
• Foreign-owned non-resident offshore companies

In all cases, these client groups can even open US bank accounts for foreigners 100% remotely.

However, these are very broad groups. So, even if you clearly fall into one of the groups above, it doesn’t mean you can automatically open a US bank account.

Instead, it just means you can move forward and consider the other important factors.

Step 2: Overcome the Challenges of Opening a US Bank Account For Foreigners

The next step to opening a US bank account as a foreigner is determining whether you can overcome the common account opening challenges.

Not preparing for these challenges (which we’ll outline below), is the second most common reason US bank accounts for foreigners are denied. The first most common reason that foreigners are denied is that they choose the wrong bank.

So, it’s important to be aware of the challenges you’ll face. Then, you can prepare for them when possible, and make sure you avoid application-killing mistakes.

Challenges of Opening a US Bank Account for Foreigners:

• Finding a bank that accepts foreigners
• Finding a bank that does not require an ITIN or SSN
• Providing an accepted proof of address
• Providing an accepted phone number
• Submitting correct documentation
• Obtaining acceptable certifications and translations
• Unable to demonstrate sufficient ties to the US
• Unable to meet bank account opening deposits
• Finding a bank that accepts remote applications
• Choosing a bank that caters to your client profile

Needless to say, there are many challenges to overcome when opening a US bank account for foreigners.

That said, challenges vary from bank to bank. So, you (or your business) may not face all of the challenges listed above. And, by choosing the right bank, you can avoid many of these challenges to begin with.

So, in order to find the right bank, it’s worth knowing which challenges you will be able to overcome. Then, find a bank that is accepting of your client profile and only requires you to meet the challenges you can actually overcome.

Of course, finding such information isn’t easy. Plus, even after choosing a bank, you also need to find a banker that caters to foreign clients. And, in an ideal world you would understand the bank’s specific quirks, preferences, and requirements before applying.

We’ll show you how to get all this information below…

For now, let’s take a look at preparing your information before you apply for an account.

Step 3: Prepare to Apply for a US Bank Account For Foreigners

So far, you’ve confirmed that you fall into one of the client groups that can open a US bank account for foreigners. And, you’re aware of the challenges you’ll need to overcome.

So, the next step is to start preparing the documents you’ll need to submit when you apply for an account. But, it’s important to remember that each bank has its own unique requirements. And, while there are common requirements at most banks in the US, you will need to confirm the final requirements with each bank before applying.

That said, here’s a list of general requirements you’ll usually need to satisfy to open a US bank account for foreigners.

Requirements to Open a US Bank Account for Foreigners:

• Two forms of government identification
• Tax identification number from your country of residence
• Proof of residence in your country of residence
• US correspondence address is often required
• US phone number is often required
• Minimum individual deposit between $5,000 and $250,000
• Minimum business deposit between $25,000 and $250,000
• Completed bank account application
• Applications can be submitted via video call
• Introduction from reputable third party often required

Of course, the requirements above only apply if you choose a bank that openly accepts foreign non-resident applicants.

Other times, you may find that banks say they accept foreign non-residents but have additional account opening requirements that most foreigners cannot meet. Here’s a look at such additional requirements.

Additional Requirements at Some US Banks:

• Proof of US tax identification (SSN or ITIN)
• Proof of US residential address
• US phone number for account maintenance
• Applications must be submitted in person at a branch

With the above in mind, it’s obviously important to know which bank requirements you (or your business) can meet. That way, you’re not wasting time and money applying to banks where you can’t realistically open accounts.

Unfortunately, finding a bank that doesn’t require an SSN or ITIN doesn’t come easy. Likewise, finding banks that allow foreign non-residents to open accounts over a video call is very challenging.

But, if opening a US bank account for foreigners is something you want to do, here’s how to get started….

Step 4: Choose Where to Apply for a US Bank Account

Choosing a bank in the US as a foreigner isn’t an easy task. As you know, there are challenges to overcome, bank-specific requirements to meet, and denials are common.

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 100% remotely.

Of course, 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 US Banking Reports, our US Bank Database, and a dedicated account manager to help you navigate your options.