Opening Bank Account In US For Non Resident – Check the Requirements

 

If you've been attempting to earn money online for a while, you have probably noticed that even if you are not a US resident, having a US Business bank account might be helpful. One of the biggest benefits of this is that you can receive payments more quickly and nearly for free. When compared to someone who must accept payments in the form of cheques, which are sent via mail or the postal service, this is a significant advantage. Understanding the many benefits of owning a US bank account as a non-resident is the goal of this blog.

As a non-resident, it can be challenging to open a bank account in the US. However, it is not impossible. To open an account, many US banks require a Social Security number and proof of address. As a non-resident, you won't have access to these; therefore you'll need to think of other options. You need to take note that your name, date of birth, address, and ID number must be verified by the financial institution. The ID requirements may differ if you are a non-citizen of the United States, though. Remember that while a financial institution might permit a non-American citizen to open an account, not all institutions do the same for a non-resident alien.

Requirements for Opening a Bank Account

The standard prerequisites for opening an account with a bank or credit union may include:

·       Name, address, and phone number as your contact details.

·       A valid driver's license, passport, and at least two other government-issued identification documents, such as a social security number or individual taxpayer identification number (ITIN). If you don't have a Social Security number and are a noncitizen, you'll probably need to have an ITIN.

·       Utility statement including current address

·       Cash deposit, usually between $25 and $100

You must normally be at least 18 years old and have a U.S. address in order to open a checking or savings account, whether you are a citizen of the United States or not. A foreign-born individual who was born in the United States but does not currently have legal status may also create a bank account there. A U.S. address and having an ITIN are essential prerequisites. For instance; Santander Bank only accepts online applications from citizens of the United States or resident aliens who have an ITIN or Social Security number.

Alternative Accounts for Citizens of Other Countries

If you're a non-citizen who can't open an account with a bank or credit union in the United States, you might think about the following options:

Count on a bank in your nation of origin. Some overseas banks have connections to American banks and you might be able to open an account at a U.S. bank. This kind of account usually referred to as an overseas account, is at a bank that is not in your home country or the country in which you are now residing. However, the minimum deposit and income requirements for these accounts might be fairly substantial.

The Conclusion

If you also want to have a business in the USA as a non-resident you can easily do it with the help of the above-mentioned details. However, you can also approach agencies like Koshika, where expert professionals can guide you in every step and ensure that you can open a bank account in the US. Just fill out the consultation form and request a callback, the professionals will call you back and take note of all your details and help you in every aspect of opening a bank account in the USA.

Resource URL: https://sites.google.com/view/opening-bank/