How to get a US bank account as a non-resident? (International)

The United States have strict laws involving bank accounts in this country when it involves accounts for non-residents. There is a Customer Identification Program (CIP) that was established under the United States of America Patriot Act. The CIP rules require financial institutions to apply certain identity verification procedures when a customer opens a new account. The law applies to traditional types of accounts such as a checking, savings, certificate of deposit, as well as loans as well as other extensions of credit.How to get a US bank account as a non-resident? (International)

The United States have strict laws involving bank accounts in this country when it involves accounts for non-residents. There is a Customer Identification Program (CIP) that was established under the United States of America Patriot Act. The CIP rules require financial institutions to apply certain identity verification procedures when a customer opens a new account. The law applies to traditional types of accounts such as a checking, savings, certificate of deposit, as well as loans as well as other extensions of credit.

The customer identification requirements to open any account is to provide your name, date and place of birth, a residence address and mailing address if different. A post office box number is not acceptable. If the individual is a United States person, a Social Security number is required. If the individual is a non-United States person much more information is required. A minimum of one of the following identification things are required: A United States taxpayer identification number

                                    A Passport Number and Country of Issuance

                                    An   Alien Identification Card Number

                            A number and country of issuance of any other government-issued document evidencing nationality or residence bearing a photograph or similar safeguard.

If you have a current driver’s license a photograph is required. If you have a current armed forces identification a photograph is required. Each bank will have its own policy and procedures drafted to comply with the above named requirements and documents. Most banks choose to draft policies and procedures more strenuous than those required by law.

Some banks may also require: A secondary identification that does not include a credit or debit card

                                                      Proof of address such as a Utility Bill in your name or title, or a   lease to a property.                               

                                                      The Account Opening Process to be done in person and originals of documentation to be viewed by present bank employees.

                                                      If the account owner is a Non-United States person without a United States ITIN then then an Internal Revenue Service form W8-BEN will be required.

So, you see there are many requirements in order for a non-resident to open a bank account in the United States. An ITIN is used only for foreigners who wish to invest in United States real estate. An ITIN is an Individual Taxpayer Identification Number that is required to open a bank account in America. It is for people who are not a United States citizen and also do not live in the United States yet they intend to purchase real estate in the United States. You can get the identification number from the (IRS) Internal Revenue Service; the American tax department.

A real state owner will need to open a Bank account in the United States into which you will need to deposit the funds you will need to purchase the property and any income derived from the property such as rents. Before you can open a United States bank account you need to obtain an   ITIN