The account has to exist
before anything else works
Rent, closing funds, utilities and the credit file all assume a US account. It is the first thing to arrange and the one most often left late.
Before you read on
- General guidance. Each bank sets its own policy and policies change without notice.
- Reinvent NY is not a bank and does not open accounts on anyone's behalf.
Step 1What the banks ask for
| Document | Needed | Notes |
|---|---|---|
| Passport | Always | Original, in person at most banks |
| Second photo ID | Usually | A driving licence from home is generally accepted |
| US address | Always | A lease, an employer letter, sometimes a hotel booking |
| SSN or ITIN | Depends | Several majors open without one, using Form W-8BEN |
| Visa or entry stamp | Usually | Evidence of lawful presence |
| Opening deposit | Always | $25 to $500 depending on the product |
Most large banks require the account to be opened in person at a branch. A few private banking arms will open remotely where a relationship already exists at the group's office in your own country. If you bank with an international group, ask them before you fly — it removes most of the friction.
Step 2Which route fits
Chase, Bank of America, Citi. Widest branch and ATM network, most familiar to landlords, title companies and closing attorneys, and the strictest on documents. The default choice for someone settling here.
HSBC and a handful of others can open a US account on the back of an existing relationship at home, sometimes before you arrive. Where it is available it is by far the least painful route.
Quick to open and often accepts an ITIN. The catch is that some landlords and closing agents will not take a cheque drawn on one, and wire limits can be too low for a deposit.
An LLC needs its own account under its own EIN, with the operating agreement produced at opening. Set it up weeks before the closing date, not in the closing week.
Step 3The first wire is where it goes wrong
A large first transfer into a brand-new account is the most common cause of a frozen account. The bank has no history for you, and a six-figure wire from abroad triggers review as a matter of course.
Tell the branch before the money moves, and have the source documented: the sale contract, the employment agreement, statements showing where the funds have been sitting. An unannounced wire can take a week or more to release, which is fatal in a closing week and expensive if it costs you the contract.
Step 4Building a credit file from nothing
US credit scores are built from what US lenders report to three bureaus. Your standing at home is invisible to them, however long it took to build. A chief executive arriving from Tokyo starts exactly where a student starts: no file at all.
| Step | Shows up in | What it unlocks |
|---|---|---|
| Secured card against a deposit | 1–2 months | The file opens at all |
| Six months of on-time payments | 6 months | A first unsecured card |
| Utilities and phone in your name | 1–3 months | Adds thin-file data at some bureaus |
| Authorised user on a US card | 1–2 months | Borrows someone else's history |
| 12 months of history | 12 months | Mainstream card and auto lending |
| 24 months of history | 24 months | Mortgage pricing outside the foreign national tier |
Keep balances under 30% of the limit and never miss a date. Those two habits account for most of the score. There is no way to accelerate the calendar, which is why the account and the first card are worth opening in the first month rather than the sixth.
Not always. Several major banks open personal accounts for non-residents on a passport and a W-8BEN. An ITIN helps and is required for some products, including most credit cards.
Rarely at a US retail bank. The realistic route is an international bank where you are already a customer.
The account is open the same day in branch. The debit card and cheques follow by post to a US address in seven to ten days.
The account itself does not. US-source income does, and if you have a US filing obligation your foreign accounts may need reporting under FBAR and FATCA. Ask an adviser about your own position.
Let’s talk first
Tell us your arrival date and whether you are buying or renting, and we will tell you what to have ready for the bank.
RELATED GUIDES
Recent transactions
A sample of the sales, purchases and rentals we acted on in 2025 and 2026.
Real estate brokerage services are provided through R New York.
Important notice
The figures on this page are general information as of August 2026 and do not represent an offer, a quote, or a guarantee of any transaction terms. Reinvent NY does not provide legal, tax, or investment advice. Confirm anything material with an attorney and a CPA before you act on it. Nothing here is a solicitation to invest, and no return is promised. Real estate brokerage services are provided through R New York.