Banking & Finance
Before you move to United States, understanding the local banking system can save you weeks of frustration and unexpected fees.
Banking Overview in United States
| Feature | Details |
|---|---|
| Currency | United States dollar (USD) $ |
| Bank Account for Foreigners | May be possible — confirm with the bank |
| Access Difficulty | Low |
| Remote Opening | Yes |
| Wise Available | No |
| N26 Available | Yes |
Opening a Bank Account in United States
Foreign nationals may be able to open a bank account in United States, but we have not independently verified this — confirm the current rules directly with the bank, in writing, before you rely on it. The process difficulty is rated as Low, which means the process is straightforward with standard documentation.
Required Documents
- Valid passport or national ID
- Proof of address / residence registration
- Visa or entry stamp
- Tax identification number (if available)
- Initial deposit (amount varies by bank)
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Banks in United States — remote & non-resident opening
Named banks operating in United States, and what our automated research found about non-resident remote account opening (no branch visit required). This has not been verified by a human reviewer — use it as a starting point and confirm directly with the bank.
| Bank | Remote opening | Confidence | Details |
|---|---|---|---|
| Bank of America | May require an in-person visit — confirm with the bank directly | High | Accepts ITIN or foreign tax ID but non-residents abroad must open in person at a branch; remote not accepted. |
| Citibank | May require an in-person visit — confirm with the bank directly | High | Non-residents cannot open online; must call Citi International or visit a branch; ITIN works only in person. |
| JPMorgan Chase | May require an in-person visit — confirm with the bank directly | High | Chase closed remote access for non-residents; needs US address and usually an in-person branch visit. |
| U.S. Bank | May require an in-person visit — confirm with the bank directly | Medium | Online systems generally need SSN; non-residents without SSN almost always must apply in person at a branch. |
| Wells Fargo | May require an in-person visit — confirm with the bank directly | High | Cannot open online as a non-resident; in-person US branch visit required even with ITIN. |
Last checked 2026-06-21 · Source: official bank websites, gathered via automated research that has not been reviewed by our founder — treat every row as a lead, not a verified fact, and confirm directly with the bank before you rely on it. Research confidence: High = clear supporting evidence found · Medium = partial or indirect evidence · Low = weak or conflicting evidence · Unrated = no confidence assessment recorded (unreviewed automated research).
Digital Banking Options
Wise (TransferWise)
Wise has limited availability in United States. While you may be able to send money to United States, full local account features may not be available. Check their website for the latest on United States-specific services.
N26
N26 appears to operate in United States, but we have not independently verified this — check N26's own country list. As a fully digital bank, it offers a straightforward account opening process, often without needing to visit a physical branch. The app provides real-time notifications, spending analytics, and competitive exchange rates.
International Transfers
When transferring money to or from United States, consider these factors:
- Exchange rate: The currency is USD. Always compare the offered rate with the mid-market rate.
- Transfer fees: Transfer fees vary — compare providers like Wise for the best rates.
- Transfer speed: Bank-to-bank (SWIFT) transfers take 2-5 business days. Digital services often complete within 1-2 days.
- Regular transfers: If sending money home regularly, set up a recurring transfer to lock in better rates.
Salary and Everyday Banking
The average salary in United States is approximately €5,708 per month. Your employer will typically require a local bank account for salary deposits. Most banks offer:
- Debit card (Visa or Mastercard)
- Online banking portal and mobile app
- Direct debit setup for rent and utilities
- ATM withdrawals (check fee policies)
Tips for Expats
- Learn key banking terms: A few words in the local language go a long way at the bank counter and when reading statements.
- Use a multi-currency card: A multi-currency travel card (Wise, Revolut) saves you exchange fees during the transition period.
- Understand tax reporting: Bank interest may be taxable. Ask your bank about withholding tax and whether they report to foreign tax authorities.
- Get a local phone number first: Most banks require a local mobile number for SMS verification. Set this up before visiting the branch.
- Set up online banking immediately: Most routine transactions can be handled online or via app, saving you queues and branch visits.
Frequently Asked Questions
Is cryptocurrency banking available in United States?
Cryptocurrency regulation in United States varies. Some banks allow crypto-related transactions while others restrict them. Dedicated crypto exchanges operate in many countries. Check local regulations before trading or holding crypto assets in United States.
Does Wise (TransferWise) work in United States?
Wise has limited functionality in United States. You may need to rely on traditional banks for transfers.
How do ATM withdrawals work in United States?
ATMs are widely available in United States. Your bank's ATM network is usually free; out-of-network ATMs may charge $1-5 per withdrawal. International cards may incur additional fees.
What is the local currency in United States?
The local currency in United States is United States dollar (USD), represented by the symbol $. Most payments can be made by card, though cash may still be important in some contexts.
Are there any fees for maintaining a bank account in United States?
Many banks in United States charge monthly maintenance fees ranging from $2 to $15. Some offer free accounts if you maintain a minimum balance or receive a regular salary. Digital banks like N26 often have free basic accounts.
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About the author
António Mira is the founder of whereTOemigrate. For over a decade he has worked at the intersection of Portuguese real estate and overseas business, helping international clients navigate the cross-border decisions that come with relocating. He sits on the board of CCIAP (Portuguese-Arab Chamber of Commerce), the Portuguese-Saudi Business Council, and the Portugal-Hong Kong Business Association — always with one focus: enabling overseas business and human mobility into and out of Portugal.
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