Bank Accounts for Non-Permanent Residents

How to open a U.S. bank account as a non-permanent resident.

If you’re new to the U.S., having a domestic bank account can make your financial life simpler and more secure. Here’s key information on how to open a SoFi Checking and Savings account as a non-resident, including eligibility requirements, what you’ll need, and the steps to follow.

Open an account

What you need to get started.

To open an online bank account as a non-permanent resident, you’ll need to provide identification, a tax identification number, and proof of a U.S. address. You'll also need to be 18 years old or older and provide an email address and phone number.

  • Photo ID

    You’ll need to provide an official, government-issued photo identification document to prove your name and birth date. Eligible documents include an unexpired passport, driver’s license with photo, U.S. Employment Authorization Card with photo, and student ID with photo.

  • Proof of Address

    You may also need to show proof of your U.S. address. For this, you can use a government-issued photo ID, current utility bill (electricity, water, internet, etc.) with your name and address, an employer paycheck or pay stub, or a copy of your lease agreement.

  • Identification Number

    SoFi Checking and Savings accounts pay interest, which is taxable. To comply with tax-reporting requirements, you’ll need to provide a Social Security number (SSN) or an Individual Taxpayer Identification Number (ITIN). If you're not a U.S. citizen, you can apply for an ITIN through the International Revenue Service (IRS).

Apply for a U.S. bank account in 3 steps:

At this time, SoFi offers individual and joint SoFi Checking and Savings accounts (trust and business accounts are not currently available).
Here, you’ll learn the three basic steps needed to open a U.S. bank account for non-residents.

  1. Gather the required documents

    Before you begin your application, you’ll want to make sure you have all of the documents required to open an account, including a valid photo ID, proof of address, and an SSN or ITIN. You’ll also need to have the name and contact details for your U.S. employer.

  2. Open the account online

    You can apply for a non-resident bank account with SoFi online. You’ll enter your personal information, citizenship status, and SSN or ITIN. You’ll also need to select your employment status, employer details, and upload the required documents.

  3. Make a deposit

    Once approved, you can deposit funds into your new checking account via online transfer or wire. You can also make cash deposits at participating retailers using your SoFi debit card (some retailers may charge a fee).

Open an account

Benefits of opening a U.S. bank account.

While it’s possible to function in the U.S. with a foreign bank account, having access to a U.S. bank account comes with a number of advantages.

A U.S. bank account gives you a convenient place to receive direct deposits, pay bills, and withdraw funds, while avoiding fees associated with transactions using a foreign bank account.

Keeping your cash in a U.S. bank is safer than storing it in a drawer at home. Your deposits are insured by the Federal Deposit Insurance Corporation (FDIC) up to $250,000 per depositor, per insured bank, for each account ownership category, ensuring protection in the very rare instance of a bank failure.

Having a savings account in the U.S. can help you build a financial cushion for emergencies or unexpected expenses while you’re far from home and extended family. And if you choose a high-yield savings account, your money can earn an above-average interest rate, which can help you build your savings over time.

FAQs


Yes, a non-citizen can open a bank account in the U.S. provided they have the proper documentation. To open a SoFi Checking and Savings account as a non-citizen, you will need a valid photo ID and an SSN or ITIN, which you’ll enter along with other personal details.
Currently, you cannot open a SoFi Checking and Savings account without a physical U.S. address.
Yes, it’s possible to open a U.S. bank account without a Social Security number (SSN). If you don’t have an SSN, you can open a SoFi Checking and Savings account with an Individual Taxpayer Identification Number (ITIN) instead. To get an ITIN, you usually need to fill out a form with the Internal Revenue Service (IRS).
At SoFi, domestic but not international wire transfers are available for sending and receiving funds. Within the United States, you can also complete a bank transfer in the app. Or you might write or deposit a check or use a bill pay option.

SoFi > Personal Banking > Non-Permanent Resident Bank Account