The short answer is that some banks allow you to open a bank account with an ITIN.
Even if you don’t have a social security number (SSN) you’re still able to open a checking account.
If you don’t have an ITIN yet contact me so I can help you have your ITIN within 5 weeks.
Items to Bring to a Bank to Open a Checking Account
To prepare for your appointment, make sure that you have the following:
- Proof of Name and Date of Birth: Acceptable documents include your passport, your driver’s license, or birth certificate.
- Proof of US Residence: Acceptable documents include your utility bill or lease agreement.
- Proof of Identification Number: Acceptable documents include your ITIN or foreign passport number.
Keep in mind, each bank has different requirements for opening a bank account with an ITIN. Therefore, I suggest giving them a call to go over the requirements before attempting to open an account.
How to Open a Bank Account Without a Social Security Number
If you have an ITIN, you’ll be able to use that in place of a social security number to open a bank account. It’s important that you have one before beginning the process. If you’re unsure how to obtain one check out this simple to follow ITIN guide.
To open a bank account, you’ll have the option of applying online, in some cases or going to the branch in person.
My recommendation, if it’s not too late, is to go with an international bank and open an account in your native country. This will make the process of opening up a US bank account easier and quicker.
If that’s not an option, your next easiest and quickest way will be to go to a US branch. While some banks will allow you to apply online, the process takes longer.
Could you use some assistance with finding the proper bank for your situation? If so, get a consultation for your ITIN.
Why You Should Open a US Bank Account
Opening a US bank account keeps your money and yourself safe.
Immigrants are often targeted by criminals as they’re seen as easy targets. By having a bank account, you lower your risks of getting mugged.
Furthermore, a bank account is your key to gaining access to amenities such as credit cards, mortgages, and business loans.
Bank accounts also serve the purposes of helping you save. You may even be able to start a 529 plan for your kids.
Most importantly, the financial footprint you create will look good if you plan to change your status in the US.
What To Do Next
You can use an ITIN to open a bank account.
You’ll have a few more requirements to meet than those applying with a social security number, but it’s still a pretty straightforward process.
If you have your ITIN already and the required documents you shouldn’t run into any problems.
If I can help you open your first US checking account, see if you qualify for your ITIN today.
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