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’re in need of a safer banking jurisdiction, non-residents can unlock these benefits and more when opening a US bank account.
Open US Bank Account From Abroad
It’s possible for a non-resident to open a US bank account from abroad. However, not all US banks accept non-residents, let alone offer remote account opening. So, knowing which bank to contact is crucial. Additionally, you will have to overcome unique account opening challenges, meet bank-specific requirements, and pass stringent compliance.
Naturally, if you go into the account opening process blind, not prepared, and don’t know which banks offer 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 a US bank account from abroad but also why you might want to open there.
Of course, we’ll also cover the challenges you’ll face when opening. And, we’ll discuss how to navigate the challenges to successfully open a US bank account as a non-resident.
However, if you’re already a GlobalBanks USA member, you can start opening US bank accounts remotely right now at real, brick-and-mortar banks without ever visiting 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 a US bank account from abroad on your own.
But, before diving in, 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.
Who Can Open a US Bank Account?
Typically, those people that can benefit from opening a US bank account from abroad include foreign non-residents, expats, digital nomads, and foreign business owners.
However, opening a US bank account comes with challenges. But, generally speaking, with the proper information and some patience, a foreign non-resident can open a US bank account from abroad.
Of course, the banks that are available to you will depend entirely on your client profile, desired services, and deposit level.
Before we jump into the challenges, let’s take a look at specifically who can open a US bank account from abroad.
Who Can Open a US Bank Account From Abroad:
- Foreign individuals (with or without an ITIN or SSN)
- US citizens living outside of the US
- US companies with no US operations
- Foreign companies with no US operations
- Offshore companies with no US operations
- Non-resident & foreign companies that serve customers in the US
- Foreign companies that have suppliers in the US
- Foreign non-residents requiring remote account opening
As you can see, many different client groups can open a US bank account from abroad.
But, as mentioned above, the banks that will accept your client profile and open an account remotely depend on your banking needs 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 opening a US bank account, we share the reasons below.
Reasons to Open a US Bank Account
There are many reasons why a foreign non-resident may want to open a US bank account from abroad.
For instance, if you don’t want the expense of traveling to the US, it makes sense to open remotely.
And, not to mention, you’ll avoid the hassle of visiting multiple banks, hopping between branches, and trying to find a banker that understands (and accepts) foreign non-resident clients. This can certainly increase your travel expenses and unfortunately, it doesn’t usually result in opening an 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 a US bank account from abroad.
In fact, here are some additional reasons why a foreign non-resident should consider opening a US bank account 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 foreign non-residents want to bank in the US besides saving money. Here are just a few of them:
- Access US credit cards & travel rewards
- US does not participate in CRS
- Access to US investment & crypto exchanges
- Low minimum deposit requirements compared to other countries
- $250,000 FDIC deposit guarantee
- Credible and safe banking system
- And more …
As you can see, there are many incentives for a foreign non-resident to open a US bank account from abroad.
In fact, one of the top reasons why foreign non-residents are interested in opening a US bank account from abroad is being eligible for a US credit card.
US credit cards offer attractive and profitable awards that many credit cards from other countries just don’t offer. However, in order to obtain a US credit card as a foreign non-resident, you need to have the right information.
If you’re interested in learning more about how to unlock the benefits of US 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 US bank account from abroad.
Challenges of Opening a US Bank Account From Abroad
Before applying to open a US bank account from abroad, you should understand that the challenges you face will largely depend on your client profile and how you proceed with the account opening process.
For instance, one client profile may face more challenges than others. And, some client profiles may have an easier time opening accounts. Ultimately, it comes down to being well prepared and understanding which banks (and bankers) will open a US bank account for you.
So, with that said, let’s take a look at the challenges you could face when you open a US bank account from abroad.
Non-Resident Challenges
- Not all banks accept remote account applications
- Frequent denials due to inaccurate documentation
- Lengthy account opening process (if not prepared)
- Difficulties opening 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 bank can waste time and money
Again, you may not face all of these challenges when you open a US bank account 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 accounts with a US bank that best suits your specific banking needs and accepts non-residents remotely. However, finding a bank that accepts non-residents remotely doesn’t come easy.
To ensure account opening success, you need to know which specific bank and banker to contact, understand the bank-specific account opening process, quirks, and requirements in order to successfully open a US bank account from abroad.
With that said, let’s dive into how you can open a US bank account from abroad today.
How to Start Opening Accounts
If you’re looking to open a US bank account from abroad, you’re going to need to know how to navigate the challenges, identify the specific banks that match your profile and understand the specific requirements you need to meet.
So, it’s important to choose a bank that not only accepts your client profile, but that aligns with your banking needs.
With that said, you can obviously follow the steps outlined in this article. Or, you can access our premium reports that are dedicated to open accounts for foreign non-residents in the US.
This report covers all of the information needed to find and apply for accounts with US banks, including guidance on which banks are best for which client profile.
You can access this and all of our premium US banking reports immediately when you join GlobalBanks USA.
Ready to Get Started?
If you’re ready to open a US bank account from abroad today, you can get started with GlobalBanks USA.
GlobalBanks USA is our dedicated US bank account opening service.
GlobalBanks USA gives you everything you need to start finding and opening US bank accounts for you and your business today.
When you join GlobalBanks USA, you receive a dedicated account manager to help you navigate your US account opening options.
Plus, you receive access to our library of premium (members-only) US banking reports. This includes proven account opening strategies, client-specific lists of banks, and successful tactics to make the most of US banking.
Of course, you’ll also receive direct introductions to US bankers who are ready to help you navigate the account opening process at top US banks.