US Bank Accounts for Non-Residents online

Opening a US bank account as a non-resident is a crucial step if you plan to live, work, study, or invest in the United States. With easy access to banking services, no account fees, and the ability to bank with confidence, non-residents can efficiently manage their finances in the US. Whether you’re looking for a high yield savings account, an account with direct deposit, or simply seeking a hassle-free option to manage your money, there are several trusted banks that offer excellent choices for non-residents.

In this guide, we’ll explore the top 13 bank accounts for non-residents, the required documents for opening an account, and how to navigate the process of applying for a US bank account online from outside the country.

While most banks offer similar services, the best banks for non-residents offer easy access to account opening, competitive rates, and the convenience of managing your finances from anywhere, especially if you are in a different country or US territory.

What Are the Benefits of Opening a US Bank Account as a Non-Resident?

Opening a bank account in the US as a non-resident has many advantages. Here are a few reasons why you should consider taking the leap:

Convenience: With mobile banking, you can manage your account anytime, anywhere, from your smartphone or computer.

No Account Fees: Some banks offer no account fees, making it easier to manage your money without worrying about charges.

Direct Deposit: For those who are employed or expecting payments, having a US bank account allows you to take advantage of direct deposit for faster payments.

Easy Transfers: A US bank account makes it easier to send and receive money domestically and internationally.

FDIC Insurance: Your deposits are often protected by the FDIC insurance or an insured deposit program, ensuring that your money is secured up to $250,000.

Access to Loans: Having a US-based bank account opens up possibilities for future credit lines, personal loans, and mortgage options, though certain requirements may apply.

Top 13 best Bank Accounts for Non-Residents

There are several options available for non-residents, whether you’re an international student, a business owner, or just someone who wants to manage their US finances. Below are some of the top 13 bank accounts for non-residents that provide easy access, hassle-free account openings, and excellent features.

Chase Total Checking Account

Chase is one of the trusted banks that offer a fee-free checking account to non-residents. With no monthly fees for those who set up direct deposit, Chase allows you to open an account online and gain access to one of the largest ATM networks in the country. It’s an excellent choice for those seeking easy access to banking services and mobile banking.

• Requirements: Proof of identity, valid passport, US address (if possible).
• Features: Direct deposit, mobile access, competitive rates on savings, and FDIC-insured deposits.

Bank of America Core Checking Account

Bank of America offers a fee-free checking account with access to over 16,000 ATMs nationwide. Non-residents can apply online using a passport and other valid forms of identification. One of the benefits of this account is early paychecks, which means you can access your funds faster with direct deposit.

• Requirements: Passport, government-issued ID, proof of address.
• Features: Direct deposit, mobile banking, FDIC insurance, and no monthly fees with direct deposit.

Wells Fargo Everyday Checking Account

Wells Fargo provides a great option for non-residents looking for a reliable and secure checking account. This account offers mobile banking, fee-free options with direct deposit, and access to high-yield savings options as well. Non-residents can enjoy the convenience of banking on the go using their smartphone app.

• Requirements: Passport, proof of address, and SSN (if available).
• Features: No account fees with direct deposit, online banking, and access to early paychecks.

HSBC Premier Checking

HSBC is a global bank known for offering premium services to its clients. Non-residents can open a Premier Checking account with no monthly fees if they meet the account balance requirement. This account provides access to a high-yield savings option, competitive interest rates, and additional FDIC insurance. HSBC’s international presence makes it an excellent choice for those who travel or live between countries.

• Requirements: Passport, valid ID, proof of address, and an opening deposit.
• Features: Fee-free banking, FDIC-insured deposits, and access to international transfers.

Citibank Basic Checking Account

Citibank offers a basic checking account that is well-suited for non-residents. This account comes with no account fees for those who set up direct deposit or maintain a minimum balance. Citi’s mobile app provides easy access to your account, allowing you to monitor transactions, pay bills, and transfer funds with just a few taps.

• Requirements: Valid passport, government-issued ID, and proof of address.
• Features: No monthly fees with direct deposit, mobile banking, and FDIC insurance.

Capital One 360 Checking Account

Capital One 360 is a popular online banking platform known for its hassle-free account setup and lack of monthly fees. This checking account offers high-yield savings, and no minimum balance required to open an account. Non-residents can benefit from easy mobile access and 24/7 customer support.

• Requirements: Passport, valid identification, US address.
• Features: No account fees, high-yield savings, mobile banking, and competitive interest rates.

Discover Cashback Debit Account

For non-residents looking for a checking account with rewards, the Discover Cashback Debit Account is an excellent choice. It offers no monthly fees, cashback rewards on qualifying purchases, and no minimum balance required. Plus, Discover’s app gives you easy access to your account from your smartphone.

• Requirements: Passport, government-issued ID, and US address.
• Features: Cashback rewards, fee-free banking, mobile access, and FDIC insurance.

American Express High-Yield Savings Account

If you’re looking for an account that offers high-yield savings, the American Express High-Yield Savings Account is one of the best options. This account provides competitive rates and is completely online, meaning you can easily manage it from anywhere in the world. Although it’s a savings account, non-residents can still benefit from easy transfers and secured deposits.

• Requirements: Valid passport, US address.
• Features: High-yield savings, competitive interest rates, and FDIC insurance.

Sofi Money Account

Sofi’s mobile banking platform offers a cash management account with no monthly fees, competitive interest rates, and the ability to access your money from your smartphone. Sofi’s low-cost structure and easy access to your funds make it ideal for non-residents.

• Requirements: Passport, valid identification.
• Features: No fees, high-yield savings, mobile access, and FDIC insurance.

Ally Online Savings Account

Ally’s online savings account is perfect for non-residents looking to earn interest on their savings without worrying about fees. With no account fees and high-yield rates, Ally offers a simple and effective way to grow your savings. Non-residents can apply online and manage their account with ease using Ally’s mobile app.

• Requirements: Valid passport, identification, and proof of address.
• Features: High-yield savings, no fees, mobile banking, and FDIC insurance.

Revolut US Account

Revolut offers an innovative digital banking experience for non-residents, allowing you to hold, send, and spend money in multiple currencies. Revolut is ideal for those looking for easy access to global financial services. No account fees and the ability to transfer funds internationally make Revolut an excellent option for those who need a global bank account.

• Requirements: Government-issued ID, passport, proof of address.
• Features: Multi-currency accounts, no account fees, mobile banking, and international transfers.

Chime Spending Account

Chime offers an online checking account with no fees and a no minimum deposit requirement. It provides an excellent option for non-residents who want a simple, mobile-friendly solution for banking. Chime offers direct deposit, early paychecks, and access to over 24,000 ATMs.

• Requirements: Valid passport, government-issued ID.
• Features: Fee-free banking, early paychecks, mobile banking, and FDIC insurance.

Payoneer Account

Payoneer is a global payment platform that offers multi-currency accounts for non-residents. If you’re a freelancer, international business owner, or online seller, Payoneer provides easy access to your funds and the ability to transfer money internationally. Non-residents can easily apply online and manage their funds from anywhere in the world.

• Requirements: Government-issued ID, proof of address.
• Features: Multi-currency accounts, easy transfers, mobile access.

How to Open a US Bank Account as a Non-Resident

The process of applying for a US bank account as a non-resident is simple but requires specific documents. Here’s what you’ll typically need:

• Valid Government-Issued Identification: A passport or national ID card.
• Proof of Address: A utility bill, bank statement, or lease agreement.
• SSN or ITIN (if available): Some banks may require this for credit and identity verification.
• Opening Deposit: Most banks require an opening deposit, which can range from $25 to $100 depending on the bank.
• Additional Documents: Some banks may require more specific documents depending on their requirements.

After you submit these documents and complete the application, the bank will review your information, and you’ll typically receive your account details within a few business days.

To Sum up:

Opening a US bank account as a non-resident is a relatively straightforward process, thanks to the rise of online banking and mobile services. With the best US banks for non-residents offering features like fee-free accounts, direct deposit, and high-yield savings, you can easily bank with confidence and manage your finances in the United States, even if you live outside the country. Explore your options, compare offers, and open an account online to start enjoying the benefits of US banking today.