Opening a US bank account is one of the most important steps you’ll take as a new immigrant. Without a bank account, you can’t receive direct deposits from your employer, build credit history, or access basic financial services. The good news? Many American banks welcome non-citizens and offer accounts even without a Social Security Number. This comprehensive guide compares the best banking options for immigrants in 2025, helping you choose the right account for your specific situation.

What to Look for in a Bank as an Immigrant

Not all banks treat immigrants equally. Some require a Social Security Number, while others accept alternative identification. Before choosing a bank, evaluate these key factors to find the best fit for your needs:

Documentation Requirements

The most important factor is what documents the bank accepts. Immigrant-friendly banks typically accept a valid passport plus one of the following: visa documentation, foreign government ID, ITIN (Individual Taxpayer Identification Number), or consular ID cards like the Mexican Matrícula Consular. Banks that require an SSN upfront will be inaccessible until you receive yours, which can take weeks.

Fee Structure

Bank fees can quietly drain your account, especially when you’re just getting started. Watch for these common charges:

• Monthly maintenance fees: $5-$25/month unless you meet minimum balance or direct deposit requirements
• International wire transfer fees: $15-$50 per transfer (critical if you send money home)
• Foreign transaction fees: 1-3% on purchases made abroad or in foreign currency
• ATM fees: $2-$5 per out-of-network withdrawal
• Overdraft fees: $25-$35 per occurrence

Credit-Building Opportunities

Some banks offer pathways to credit products for their existing customers. Having a checking account in good standing for 3-6 months can make it easier to get approved for a secured credit card or credit-builder loan from the same institution. Look for banks that offer these products and consider your long-term financial relationship, not just the immediate account opening.

Digital Banking Features

Modern banking should be accessible from your smartphone. Evaluate the bank’s mobile app for features like mobile check deposit, real-time notifications, budgeting tools, and Zelle (instant transfers). If English isn’t your first language, check if the bank offers customer service and app interfaces in your native language—many large banks support Spanish, Chinese, and other languages.

Major National Banks for Immigrants

The largest US banks have the most branches and ATMs, making them convenient for everyday banking. Here’s how they compare for immigrant customers:

Bank of America

Bank of America is one of the most immigrant-friendly major banks, with a long history of serving diverse communities. They accept ITIN for account opening and offer Spanish-language services nationwide.

• Documentation: Passport + visa OR passport + ITIN
• Monthly Fee: $12 (waived with $1,500 minimum balance or $250 direct deposit)
• ATM Network: 16,000+ ATMs nationwide
• International Transfers: $45 outgoing wire fee
• Best For: Immigrants who want extensive branch access and Spanish-language support
• Credit Products: Secured credit card available after account establishment

Chase Bank

Chase is the largest bank in America by assets and offers robust digital banking features. While they typically require an SSN, some branches will accept ITIN for non-resident aliens with proper documentation.

• Documentation: Passport + visa + SSN (preferred) or ITIN (varies by branch)
• Monthly Fee: $12 (waived with $1,500 minimum balance or $500 direct deposit)
• ATM Network: 16,000+ ATMs nationwide
• International Transfers: $40-$50 outgoing wire fee
• Best For: Tech-savvy immigrants who value an excellent mobile app
• Credit Products: Chase Freedom Rise card designed for credit builders

Wells Fargo

Wells Fargo has an extensive branch network, particularly strong in the Western US. They offer multilingual services and accept various forms of identification for account opening.

• Documentation: Passport + visa OR consular ID card (varies by state)
• Monthly Fee: $10 (waived with $500 minimum balance or $500 direct deposit)
• ATM Network: 12,000+ ATMs nationwide
• International Transfers: $30 outgoing wire fee
• Best For: Immigrants in Western states who want lower wire transfer fees
• Credit Products: Secured credit card with $300-$10,000 limit

Citibank (Best for Global Banking)

Citibank stands out for immigrants with existing Citi relationships abroad. Their Global Transfer feature allows free transfers between Citi accounts worldwide, and their international presence makes them ideal for frequent travelers.

• Documentation: Passport + visa + two proofs of US address
• Monthly Fee: $12 (waived with $1,500 minimum balance)
• ATM Network: 65,000+ fee-free ATMs via partnerships
• International Transfers: FREE between Citi accounts globally; $35 otherwise
• Best For: Immigrants with existing Citi accounts abroad or frequent international travelers
• Credit Products: Citi Secured Mastercard; easier approval for existing customers

Major Banks Comparison Table

Bank	ITIN OK?	Min. Fee	Wire Fee	Best For
Bank of America	Yes	$12	$45	Branch access
Chase	Varies	$12	$40-50	Mobile app
Wells Fargo	Yes	$10	$30	Lower fees
Citibank	Yes	$12	FREE*	Global banking

*Free between Citi accounts worldwide

Online Banks & Neobanks

Online-only banks often have more flexible requirements and lower fees than traditional banks. Without the cost of maintaining physical branches, they can offer better interest rates and fewer fees. Here are the best options for immigrants:

Chime

Chime has become incredibly popular among immigrants for its no-fee structure and built-in credit-building tools. Their Credit Builder secured card requires no credit check and no security deposit—your spending limit is based on money you transfer to the account.

• Documentation: SSN required (cannot use ITIN)
• Monthly Fee: $0 (no minimum balance, no monthly fees)
• ATM Network: 60,000+ fee-free ATMs
• International Transfers: Not supported directly; use third-party services
• Best For: Immigrants with SSN who want zero fees and credit-building
• Unique Feature: Get paid up to 2 days early with direct deposit

Discover Bank

Discover offers a compelling combination of online banking with no fees and excellent cash back credit cards. Their secured credit card is one of the best in the market, offering rewards even while you build credit.

• Documentation: SSN required
• Monthly Fee: $0 (no minimum balance, no monthly fees)
• ATM Network: 60,000+ fee-free ATMs
• Savings Rate: 00%+ APY on savings accounts
• Best For: Immigrants who want high-yield savings combined with credit cards
• Unique Feature: Cash back match first year on credit cards

Capital One 360

Capital One combines the best of both worlds: an extensive ATM network through their partnership with MoneyPass plus excellent online banking features. Their credit cards for credit builders are among the most accessible in the market.

• Documentation: SSN or ITIN accepted
• Monthly Fee: $0 (no minimum balance, no monthly fees)
• ATM Network: 70,000+ fee-free ATMs
• Savings Rate: 00%+ APY on savings accounts
• Best For: Immigrants who want ITIN acceptance plus modern banking
• Unique Feature: Capital One Cafés in major cities for in-person support

Credit Unions: A Hidden Gem for Immigrants

Credit unions are member-owned financial cooperatives that often offer better rates and more flexible policies than traditional banks. Many credit unions actively serve immigrant communities and accept ITIN or consular ID cards. Because they’re not profit-driven, they typically have lower fees and more personalized service.

Why Consider a Credit Union?

• Lower fees: Often no monthly maintenance fees and lower overdraft charges
• Better rates: Higher savings rates and lower loan rates
• Flexible documentation: Many accept ITIN, Matrícula Consular, or other foreign IDs
• Personal service: Staff often speak multiple languages and understand immigrant needs
• Credit-building: More willing to offer small loans and secured cards to build credit

How to Find an Immigrant-Friendly Credit Union

1. Visit MyCreditUnion.gov and use the credit union locator
2. Search for “ITIN credit union” plus your city or state
3. Ask community organizations in your area for recommendations
4. Call ahead to ask about documentation requirements before visiting
5. Check if membership is open to the public or requires employer/geographic eligibility

Best Banks for Specific Immigration Situations

International Students (F-1 Visa)

International students face unique challenges—you may not have an SSN initially but can apply for one if you work on campus. Many banks partner with universities to offer student accounts:

• Best option: Check if your university has a preferred banking partner
• Bank of America: Offers student accounts with passport + I-20 form
• PNC Bank: Virtual Wallet Student account accepts foreign students
• Tip: Apply for an SSN once you get on-campus employment for more banking options

H-1B Visa Holders

As an H-1B worker, you’ll have an SSN and steady income, making you an attractive customer for most banks. Focus on banks that offer credit-building products and relationship benefits:

• Best option: Chase or Bank of America for easy credit card approvals after 3-6 months
• Consider: Premium checking accounts if your employer offers direct deposit; fees are often waived
• Tip: Use Nova Credit to leverage your home country credit history for faster approval

Entrepreneurs & Business Owners

If you’re starting a business in the US, you’ll eventually need a business bank account. Some banks make this easier for immigrants:

• Mercury: Tech-focused business banking; accepts foreign founders with EIN
• Novo: No-fee business checking; integrates with accounting software
• Chase Business: Extensive branch network for cash deposits; requires SSN or ITIN
• Tip: Open a personal account first to establish a relationship before applying for business banking

Undocumented Immigrants

While banking options are more limited without legal status, they do exist. An ITIN (Individual Taxpayer Identification Number) can open doors to financial services:

• Getting an ITIN: Apply through IRS Form W-7; you don’t need legal status
• Bank of America: Accepts ITIN for account opening
• Wells Fargo: Accepts ITIN and some consular IDs
• Credit unions: Many local credit unions accept Matrícula Consular
• Tip: Having a bank account and paying taxes with an ITIN creates a financial record that may help with future immigration proceedings

How to Open Your First US Bank Account

Once you’ve chosen a bank, follow these steps to successfully open your account:

Documents to Prepare

1. Primary ID: Valid passport (unexpired)
2. Immigration documents: Visa, I-94 arrival record, I-20 (students), or employment authorization
3. SSN or ITIN: If you have one; explain you’re applying if you don’t
4. Proof of US address: Utility bill, lease agreement, or bank statement (can use employer letter initially)
5. Initial deposit: Cash or check; typically $25-$100 minimum

Step-by-Step Process

6. Research online: Verify the bank’s documentation requirements on their website
7. Call ahead: Confirm that specific branch can process immigrant accounts
8. Visit in person: Most immigrant accounts require branch visit; bring all documents
9. Complete application: Fill out forms, provide identification, make initial deposit
10. Set up online banking: Download app, enroll in alerts, set up direct deposit
11. Update SSN later: Return to branch with SSN once received to update account

What to Do If You’re Denied

Don’t be discouraged if your first attempt fails. Here’s what to do:

• Ask why: Request specific reason for denial; it may be fixable
• Try another branch: Policies can vary between branches of the same bank
• Consider alternatives: Credit unions often have more flexible policies
• Check ChexSystems: Past banking problems may appear in this report; get free copy at ConsumerDebit.com
• Second chance accounts: Some banks offer accounts specifically for those denied elsewhere

Conclusion: Your Banking Journey Starts Here

Opening a US bank account is a crucial milestone in your immigration journey. The right bank will not only safeguard your money but also help you build credit, send money home affordably, and access financial products that support your American dream. Whether you choose a major national bank for convenience, an online bank for lower fees, or a credit union for personalized service, the most important step is simply getting started.

Remember: your banking relationship is a long-term partnership. Choose a bank that understands immigrant needs, offers pathways to credit products, and treats you with respect. With the right financial foundation, you’ll be well-positioned to build wealth, establish credit, and achieve your goals in the United States.

Quick Action Checklist:

1. Gather documents: passport, visa, proof of address
2. Apply for SSN or ITIN if you haven’t already
3. Research banks that match your documentation and needs
4. Call ahead to confirm branch can process immigrant accounts
5. Visit branch with all documents and initial deposit
6. Set up direct deposit with your employer
7. Enroll in mobile banking and account alerts
8. Ask about secured credit cards to start building credit