Opening A Bank Account In The United States For Non Residents

If you’re a non-resident living in the United States, you might wonder whether you’re eligible to open a bank account in the United States. While you might have been told a Social Security number (SSN) is required to open a bank account in the U.S., this is a common misconception.

Many financial institutions, including PNC Bank, offer bank accounts for non-residents who do not have an SSN. Some additional steps and documentation may be required, but the process is still straightforward.

The following guide explains the steps that may be required for non-residents to open a bank account and answers the most frequently asked questions about how to open a bank account without an SSN. With this information, you’ll be able to take the first step toward creating a solid financial foundation in the United States.

Why Open a U.S. Bank Account?

When establishing yourself in the United States, having a U.S. bank account offers convenience and helps you more easily integrate into the financial system. While it is possible to function in the U.S. with a foreign bank account, the following benefits may make opening a U.S. bank account well worth the effort.

Ease of Daily Transactions

A U.S. bank account simplifies day-to-day financial activities. Once you’ve established an account, it’s easy to pay bills, receive direct deposits from employers, and handle purchases without the complications of currency exchange or foreign transaction fees. 

Increased Financial Security

U.S. banking institutions are regulated and offer significant consumer protection. Certain bank accounts are covered by the Federal Deposit Insurance Corporation (FDIC) insurance up to a specified amount, ensuring safety against bank failures. U.S. banks also have established procedures to recover your funds in the event of bank fraud.

Required Documents for Non-Residents to Open a U.S. Bank Account

The documents required for non-residents to open a bank account may vary from one financial institution to the next. Generally, you can expect to provide the following items.   

Identification

You will need at least one form of official, government-issued photo identification. Some banks require multiple forms of ID, particularly for non-residents. Accepted primary forms of ID typically include a valid passport or accepted consular ID with a photograph. Your U.S.-issued Visa is typically acceptable as a secondary form of ID. 

Your bank or financial institution may also accept other documents to verify your identity. Check with a customer service representative to confirm specific requirements. 

Proof of Address

Banks and financial institutions also must verify your residential address. The following documents are typically acceptable as long as they list your name and current address:

• Utility bills dated in the last 60 days.
• Paycheck or employer pay stub.
• A copy of your lease agreement.
• Current driver’s license or municipal ID.

Identification Number

Typically, you must provide the bank with your unique identification number. This may include:

• Social Security number.
• Alien identification card number.
• Individual Taxpayer Identification Number (ITIN).

Opening Deposit

Some banks require an initial deposit to open a new bank account, while others, including PNC Bank, do not. If a deposit is required, it's typically made by check, cash, or transfer from another account.

Steps to Opening a U.S. Bank Account as a Non-Resident

The steps for opening a bank account may vary depending on the financial institution. However, you can generally expect to follow these three steps:

1. Gather the Required Documents

Check the bank’s website or contact a customer service representative to request a list of account opening requirements and acceptable documents. Gather the necessary items ahead of time to avoid making multiple trips to the bank.

2. Complete the Account Application and Tax Documents

When completing the application, if you have a Social Security number or ITIN, you’ll include this information on your application. However, if you do not have an SSN or ITIN, PNC Bank will provide you with an IRS Form W-8 BEN to complete. This form certifies that you are not a U.S. taxpayer.

3. Make an Opening Deposit

If the bank requires an opening deposit, you’ll typically complete this step while at the bank branch. Once you've submitted the application, the bank will review and verify your documents and information. As long as there are no problems, they will open your new account.

Do You Need a Social Security Number to Open a Bank Account?

No, you do not need an SSN to open a bank account in the United States. Many banks, including PNC Bank, allow non-residents to open a bank account without an SSN. Instead, you can open a bank account with an ITIN or other unique identifier, which may require you to complete an IRS Form W-8 at the time of account opening. These alternatives accommodate individuals who might not be eligible for an SSN.

How to Obtain an ITIN for Banking Purposes

An Individual Taxpayer Identification Number is a unique identification number issued by the Internal Revenue Service (IRS). It’s provided to individuals who need a U.S. taxpayer identification number but are not eligible to obtain an SSN.

To apply for an ITIN, complete the following steps:

• Complete IRS Form W-7: Ensure all information is accurate and sign the form.
• Provide proof of identity and foreign status: Review the IRS’s list of acceptable documents, such as a passport, national identification card, U.S. or foreign driver’s license, or U.S. state identification card.
• Provide a federal tax return or proof of exemption: Submit a completed federal tax return or documentation proving you are exempt from filing taxes.
• Submit the application: Mail the application and documents to the IRS, take it to a walk-in office, or work with an acceptance agent, who can submit it on your behalf.

Once everything is submitted in good order, the IRS processes the application and mails a letter containing your ITIN. This typically occurs within seven weeks.^[1]

Tips for Using Your New United States Bank Account

Once you’ve opened your new U.S. bank account, consider taking advantage of the services your bank offers to assist with your financial management. The following tips will help you take control of your finances and make the most of your new account.

Set Up Online and Mobile Banking

Most banks offer online and mobile banking services, allowing you to check account balances, transfer funds, pay bills, and more — all from your computer or mobile device. Getting accustomed to these tools can help you oversee your financial activities from any location. 

Familiarize Yourself with Withdrawal Options

Depending on the type of account you open, you may have several options for withdrawing funds. A debit card links directly to your checking account and is commonly used for daily purchases at retail locations, online shopping, and withdrawing cash at ATMs. Savings accounts do not come with debit cards but may have an ATM card that allows you to withdraw cash and conduct other transactions from automatic teller machines (ATMs). 

While digital transactions have become a more popular option, it’s still important to understand how to write a check from a U.S. bank account. This may be necessary in a variety of situations, such as when paying entities that do not accept electronic payments or when you need to document your payments with a paper trail.

Sign Up for Overdraft Protection

To avoid inadvertently overdrawing your account, consider signing up for overdraft protection. This service links your checking account to another checking account, savings account, or line of credit. If your checking account balance falls below zero, funds are automatically transferred to cover withdrawals, helping you avoid fees and declined transactions.

Regularly Monitor Your Account

Regularly monitoring your bank account can help maintain a healthy financial standing. Check your statements, online portal, or mobile app to keep track of any transactions, balances, and fees. This habit helps with budgeting and allows you to identify and resolve discrepancies or fraudulent activities quickly.

Take Advantage of Your Bank’s Customer Support  

If you have any questions regarding your bank account or encounter any issues, contact your bank’s customer support staff. They can offer guidance and solutions, helping with everything from managing disputes to setting up new features or adding additional financial products to your portfolio.

Begin Your Financial Journey in the U.S.

For non-residents, opening and managing a U.S. bank account is a critical step toward financial independence. While the process requires extra steps and documentation, it remains a straightforward one.

Understanding the requirements to open an account and utilizing the full range of financial services offered by your bank will help you effectively manage your finances.

As you begin your financial journey in the U.S., remember that PNC Bank is here to assist you. When you're ready to open a U.S. bank account, contact our customer service team for further information or support.