How to Open a US Bank Account for Non-Residents as a TN Visa Holder

When Canadian and Mexican TN professionals move to the United States, setting up a US bank account should be one of the first things they do because it is required to receive paychecks, pay rent, and manage everyday expenses. However, without a Social Security number (SSN) and a permanent US address, some banks may hesitate to open an account, complicating the process.

This guide outlines the process of opening a US bank account for non-residents, showing TN holders in the US how to open one without stress. It’ll also look at which banks to consider, the documents required, and what to expect in terms of fees and transfer costs. 

What to Expect as a TN Visa Newcomer

TN holders new to the US should expect the following when opening a US bank account for non-US residents.

• The bank will request and review documents such as a passport, proof of employment, and a TN visa (or I-94 record)
• Some banks require a Social Security number (SSN), while others may open an account with only an ITIN.
• Banks will require a US address 
• Requirements vary from bank to bank

Need help getting your TN visa? Contact the TN Visa Expert for guidance and packet review.

Can a TN Holder Open a US Bank Account as a Non-Resident?

TN holders can open a US bank account. However, some applicants may face additional verification steps, particularly those without an SSN or a permanent home address.

Why TN Holders Usually Open a US Account

TN holders in the US need a US bank account for several reasons, such as:

• Receiving salary payments  
• Paying rent and bills
• Making day-to-day online transactions
• Moving money between the US and their home country

SSN Timing and Why It Matters

Many banks in the United States require an SSN to open an online US bank account for non-residents. This is why TN holders who do not yet have an SSN will have limited banking options.

Applying for and receiving the SSN early can enable access to a wider range of banks and faster account opening approvals.

Getting an SSN after entry

Getting a Social Security number is easy. The individual simply applies through the Social Security Administration by submitting the required documents (such as a passport, an I-94 record, and proof of employment).

But processing isn’t immediate. It can take a few weeks, so many newcomers begin banking with alternative documentation while they wait.

Banks That May Open With a Passport and an I-94

Some banks allow individuals to open an account with just their passport and I-94 record. Such banks can assist TN newcomers with their banking needs while they await their SSN.

Main Account-Opening Route

There are several ways TN newcomers can open a bank account, with the best option depending on their situation (such as how much time they have, what documents they have, and whether they need full banking features).

Apply Through an International Bank That Accepts Non-Residents

A common approach is to use international banks that open US bank accounts for non-residents. Many of these banks onboard newcomers into the US, allowing them to open US accounts with just their passports, visa documentation, and proof of employment. However, they often apply more rigorous identity checks, require higher opening deposits, and even charge monthly maintenance fees.

Open Online Using an ITIN

For people who don’t yet have an SSN, some banks allow them to open a US account using an ITIN (Individual Taxpayer Identification Number).

ITIN is a tax processing number issued by the Internal Revenue Service for individuals who are not eligible for an SSN but still need to meet US tax reporting requirements. 

Applying for an ITIN is also easy. Individuals can apply in person at an IRS Taxpayer Assistance Center. They may also download and complete Form W-7, attach their US tax return and supporting documents, and mail the package to the IRS Austin Service Center.

Use a Major Canadian Bank’s US Account Option

Several major Canadian banks (such as Royal Bank of Canada, TD Bank, or Scotiabank) offer US accounts or US banking partners, and allow customers to open cross-border accounts before or soon after moving to the US. For Canadians who already use these banks, this is one of the most straightforward ways to get a US bank account.

Because of the existing customer-bank relationship, setup is usually easier, simplifying transfer.

What You Will Be Asked For

When TN newcomers want to open a US bank account, banks commonly request:

• Identity verification
• Address verification
• Tax status

Banks require these details to confirm the applicant’s identity and comply with regulatory requirements.

Common Documentation for Non-Resident Applications

Common documents to prepare when applying for a US bank account are: 

• Passport
• Proof of home-country address, such as a utility bill or an official government document
• Proof of employment, such as an employer letter, job offer, or pay stub 
• Required tax-related forms

Address Verification When You Just Arrived

Banks often require a piece of mail for “address verification” (the process of confirming where an individual lives in the US). Banks verify addresses mainly to comply with regulatory requirements and for correspondence. 

For people with a temporary address (such as a short-term rental), banks may accept a letter from their employer. 

Tax Identifiers and Forms Banks May Reference

Banks usually also require a Social Security Number. This is a US tax and identity number, which serves a similar purpose to the Canadian SIN (Social Insurance Number).

Depending on the bank’s policy, individuals with an SSN may be required to complete and submit a W-9 form as part of the account-opening process, while those without an SSN may complete a W-8BEN form.

Canadian Banks and Bank Options Commonly Mentioned for TN Holders

Banks that many Canadians TN professionals in the US consider when setting up US banking are:

Note that requirements may differ by location and branch.

BMO Harris

BMO Harris Bank makes account opening easy for Canadians, with options to open in person or by phone. Products include checking accounts with debit cards, online banking, and cross-border transfer options.

Another big advantage is that several accounts don’t require a minimum balance to waive fees. Approvals usually occur the same day, but can take several days if additional verification is needed.

CIBC Online Banking

CIBC Online Banking is a popular option for Canadian newcomers because it allows them to open a US bank account for non-residents online without physically visiting a bank. 

It’s geared towards existing CIBC customers from Canada and those managing cross-border transfers. Transferring money from a US bank account to a Canadian bank account (or vice versa) is effortless, and accounts can be managed via mobile apps. However, the minimum balance requirement for fee waivers is relatively high.

RBC Georgia

For TN holders who want to use Canadian banks in the USA, RBC Georgia is a top choice. People with an RBC Royal Bank account in Canada can easily open a US bank account with RBC Georgia. Because of the existing customer-bank relationship, setup may be easier, with some branches not requiring an SSN or a US address (applicants’ Canadian addresses suffice).

Also, with RBC Georgia, transferring money between Canadian and US accounts is not only easy but free. 

Desjardins Florida

For individuals who are members of a Desjardins Caisse in Canada, opening a US bank account is easy. In fact, an individual can open a US bank account, deposit funds, and receive a Desjardins Bank debit card before arriving in the US.

In many branches, one needs only a photo ID and a passport to open a US bank account. However, a minimum balance is required and must be funded via a transfer from a Canadian account.

NatBank by National Bank

NatBank offers access to a large network of ATMs, making it a good choice for TN newcomers who need a US bank account for transactions. 

It offers robust digital features, including online banking, transfers, and account alerts. However, requirements vary by account type, so it’s important to contact a representative for specific onboarding steps.

Chase

Chase is a top choice for Canadian TN newcomers due to its extensive nationwide presence, range of accounts, and robust mobile and online banking tools. However, it requires an SSN or state ID to set up the account. Also, a minimum deposit is often required at account opening, with the amount depending on the account type.

TD Bank

TD Bank offers everyday checking, cross-border packages, and newcomer-friendly accounts with no minimum balance. However, in addition to a passport, they may request a second ID (such as Nexus) for identity verification. They may also ask for address history or intended account use.

Mexican Banks in the USA and US Bank Options for TN Visa Holders

Mexican TN holders also have several options for opening an online US bank account for non-residents. Mexico-headquartered retail banks with US consumer branches are limited, so the practical goal is finding banks that support cross-border needs. That said, banking options to consider include:

Santander

Santander is one of the banks that operate in Mexico and the US and offers transfer services, linked accounts, and preferential FX rates for cross-border payments. This makes it a popular choice for Mexican professionals in the US.

Mexicans who already bank with the Santander group in Mexico will find setting up easy. In the US, they may be able to open an account with the bank using only a passport and visa documentation if an SSN is unavailable.

However, availability varies by state, so applicants should verify whether there is a local branch.

Citi

Citi is another good option for Mexican TN holders who prefer Mexican banks in the USA. There are many Citi-affiliated banks in Mexico, and a TN holder has an account with one of them and wants continuity while in the US. Citi is a no-brainer.

Onboarding is smoother as the individual’s identity is already verified within the bank’s network. However, a passport and visa documents will still be required. ITINs may be accepted in place of SSNs, and alternatives may be accepted in place of a permanent US address.

HSBC

HSBC is an international bank with a presence in Mexico and the US, making it popular among TN holders who move between Mexico and the US. 

While they have different account types, specific products may vary by location. Also, while TN newcomers may have access to everyday checking accounts, certain account tiers may be unavailable to non-residents.

Banco Santander International

Banco is a good choice, especially for Mexican professionals who move money between Mexico and the US. Not just for those who need everyday checking accounts.

However, it involves more detailed financial profiling, minimum balance thresholds, and compliance reviews. For this reason, before applying, applicants should confirm the minimum deposit requirements, ongoing fees, and service scope.

Fees to Watch Before You Commit

Banks charge different fees for maintaining an account, and these fees vary by bank. This is one reason why TN newcomers in the US should compare fee schedules before choosing a bank.

Account and Maintenance Fees

Most accounts come with maintenance fees (fees that banks charge to cover administrative costs such as record-keeping, customer service, and digital banking access).

However, this fee can be waived if account holders meet certain conditions, such as maintaining a minimum balance. Thus, individuals should ask about fees when choosing a bank.

What to check:

• Monthly fee amount and waiver conditions
• Minimum balance thresholds
• ATM and transaction limits
• Statement delivery fees
• Overdraft or insufficient funds charges

International Bank Application or Ongoing Fees

Many non-resident-friendly accounts that offer smooth onboarding often come with application fees, higher deposit requirements, or ongoing charges.

However, applicants should not view these as drawbacks but as trade-offs (such as choosing the convenience of no-SSN, faster onboarding against the long-term cost of maintaining an account).

Cross-Border Transfers and Currency Conversion

Moving money between the US and Canada, or Mexico, incurs costs, either through transfer fees or exchange-rate markups. These fees vary by bank, so TN holders who’ll be transferring funds regularly need to compare them when choosing a bank.

Transfer Fees and Exchange-Rate Markup

“Transfer fee” is the small amount that a bank charges when you make a transaction, like transferring money. An exchange-rate markup is the small difference between the market exchange rate and the rate a bank offers you when transferring money internationally.

The higher these fees, the higher the true cost of sending money. This is why TN holders should consider them when choosing a bank.

Cross-Border Options Mentioned by Readers Most Often

The most common cross-border options used by TN newcomers in the US are bank cross-border transfers and money transfer services. 

Bank cross-border transfers are convenient because they are integrated with existing accounts, but they often come with higher fees and exchange rates. Money transfer services, on the other hand, offer lower overall costs and faster transfers but require an additional account and may come with transfer limits.

Banking and Credit Setup After Arrival

After receiving an SSN and getting a verifiable US address, banking options expand significantly. At this stage, many TN holders review their initial account setup to upgrade to accounts with better features and begin considering how to establish a US credit profile.

Prepaid and Starter Credit Products

Prepaid cards and starter products are temporary solutions for managing expenses when still building a financial footprint in the US. They can be used for everyday spending. These temporary products are easy to obtain because they don’t require a full credit history, but they are usually replaced once the individual qualifies for standard credit products.

Credit Cards as a Way to Build US Credit History

Once a TN newcomer’s identity, address, and tax information are fully established, they easily qualify for a credit card. Using the card responsibly (such as by making regular, on-time payments) is one of the most common ways to build a US credit history.

A Practical Wrap-Up for Your First Week

Use this checklist to know specific actions to take in the first week as a TN newcomer in the US (regarding opening an account).

• Decide whether you’ll open through a cross-border bank or a US bank
• Prepare the documents you’ll need
• Compare the offers of different banks and choose one
• Open a bank account
• Activate online banking, debit cards, alerts, and direct deposit with your employer.
• Decide how you’ll handle cross-border transfers and currency conversion to manage costs efficiently.

To ensure your TN applications go as smoothly as possible, watch helpful TN visa videos to help you navigate the TN visa process. 

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