There are a few banks who offer non-residents to open a bank account in the USA.
Most of the cases he/she have to visit the bank with passport or any other proper identification documents.
To prevent identity theft, identity fraud, money laundering, terrorist financing, etc., RBI had all banks and financial institutions to establish a policy framework to know their customers before opening any account that known as (KYC - Know Your Customer).
This means that foreign banks may be an offshore account for non-residents, if they check and verify their cleints identical / activities and this is one of the main reasons why we have difficulties to foreign bank account or in the U.S. or Europe.
The 3 banks who allow nonresidents easily to open an account
1. Wells fargo Bank
Wells Fargo is one of the biggest Banks in USA that can provide IPB ( International Personal Banking ) for Non-Resident . This is Not an easy account to open for foreigners and also it can not be used just for PayPal and ecommerce money transfer purpose . It’ll take some time and strict paper work to open an account with Wells-Fargo, also a signature verification process is required to verify your identity/signature with the bank. I believe this is wont be a problem if you are running a legitimate business/activity .
Identification Documents Required :
- Copy of Passport- Copy of National Identity Card/Driver License- Signature card verification- You will need to attach the most recent 3 months bank statements and 2 bank reference letters from your local bank.
Follow the following steps in order to open an account with Wells Fargo :
1- Visit the Wells Fargo IPB landing page . Apply for the account by filling-up the online application form , and print it out
2- Also print out the signature card form and the service agreement
Signature Verification Process
To verify your signature, it has to be done by one of these three ways:
1- SWIFT message type 199 send by your bank.2- Signature verified by San Francisco IPB office or Hong Kong IPB office.3- Signature notarized by US Embassy or Consulate.
For choice #1, visit your local bank and ask them if the Swift message type 199 is available( Most of the bank officers have never heard of SWIFT message type 199 before! ).
For choice #2, the best choice for Hong Kong / US residents
For choice #3, this seems like the only ’slightly’ more convenient way to do so. Given that you live near the consulate. It will cost you a fee to certify your document ( should be around USD$20 per document).
2. HSBC Bank
Having a local HSBC bank account in your country will enable you to open another account/s in any of other HSBC abroad branches either in HSBC United states or European HSBC account .
All you need to is to open local HSBC account in your country , then you have to visit your local HSBC Bank personally and to ask the customer service officer to take the necessary procedures to open another HSBC account in USA/Europe or any of other HSBC listed countries .
The officer will manage and proceed all the paperwork and relevant documents in order to open the foreign HSBC account for you .
There will be an account opening charge which is a bit high but it’s worth due to HSBC reputation, its accounts reliability in addition to trustworthy online powerful e-banking web interface.
Also initial deposit and monthly / annual charges may occur depending on the balance and transactions charges on the foreign currency account. Details for the charges can be viewed at HSBC website at ( Tariff and Charges menu )
3. Etrade bank
Its not actually bank account but it allows nonresidents to open a brokerage account for trading stocks.
this brokerage account comes with a bank account. powered by www.etradebank.com
To open the account you have to download their application form with proper guidelines from online
that can be found here
You have to fill this 2 forms up and send to their address specified on the form
within 2 weeks your account will be opened and you will get informed via phone and mail
Will add more on users request via comments…