How To Open USA Bank Account Online From Any Country (Account Type & Requirements)

How To Open USA Bank Account Online From Any Country (Account Type & Requirements)

 


Are you searching for how to open USA bank account online from any country? This is the right webpage for you. This article reveals how you can open USA bank account from anywhere in the world.

Opening  USA Bank Account Online: Requirements

Most US banks require you to be an American citizen or permanent resident before they allow you to open an account. That means you’ll typically need to submit the following;

1. A Social Security Number (SSN)
2. An Individual Taxpayer Identification Number (ITIN), and
3. Proof of address in the United States.
4. You’ll also be required to submit an identity document such as a passport, driver’s license, government-issued photo ID, and, when applicable, immigration documents.

How To Get The Required Identity Documents

Whether you wish to apply for a bank account before or after arriving in the US, the bank you’re applying to will want to see the documentation that confirms your identity.

Here’s how to get some of the most frequently requested identity documents.

Social Security Number

There are several different ways to apply for an SSN:

  • Using the SS5 form 
  • When making your visa application 
  • When making an application for employment authorisation

Individual Taxpayer Identification Number (ITIN)

If you’re not eligible for an SSN, then you may be able to apply for an ITIN tax processing number instead.

You can download Form W-7 online and then apply either online or in-person. Find out more about how to apply on the government website here.

You should then receive your ITIN by mail within seven weeks.

Proof of address

Different banks will want to see different documents as proof of your address.

Utility bills, bank statements, lease agreements and student enrolment documentation (if you’re studying in the US) will usually be acceptable.

Types Of USA Account You Can Open Online

  • Checking account 
  • Savings account

Checking accounts work like current accounts in other countries and provide services like:

  • Online banking access;
  • Bills and other payments;
  • Account transfers;
  • Bank transfers and direct debits;
  • Recurring payments;
  • Debit cards;
  • ATM withdrawals.

Savings accounts allow you to save over time and will pay interest on your savings.

There are often restrictions on how often you can withdraw money from a savings account.

Both checking and savings accounts will come with:

  • A routing number that identifies your bank
  • An account number that identifies your account

USA Bank Account Opening Methods For Foreigners (How To Open Your US Account From Your Home Country)

There are some options you can use in getting an account in USA, those options include;

1. Correspondent Bank Accounts in the US

This is where a bank in your country of origin collaborates with a bank in the United States. In these circumstances, your “home” bank may be able to help you set up an account with their partner bank.

Contact your home bank to find out if they have relationships or partnerships with any US banks and what you need to do to open a US account.

2. International Bank Account

Some banks have an international presence and may allow you to open an international account.

These can include the big banks in the US such as  Wall fargo, Citibank, JPMorgan Chase, Bank of America, etc and other banks such as HSBC.

These international options are specialized accounts, and you can sometimes open them even if you don’t have a US address.

They do come with some downsides:

  • You will likely have to make a large initial deposit, sometimes in excess of $100,000.
  • You will need to maintain a high minimum balance in the account;
  • There are likely to be ongoing monthly fees to maintain the account.
  • This does put international accounts out of the reach of most people.

In Conclusion

The good news is that it is possible to open a US bank account as a non-resident and non-citizen. However, just some banks accept this type of customers, and the requirements may even change from state to state, or even between branches.

Some banks will allow you set up the account online but will need to see you physically for verification to confirm if your documentation is legit.

I hope you find this information useful, if yes, please feel free to share with your family and friends.

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