How do I open a US bank account?

A US bank account is one of the first things you need: your employer pays into it and landlords take rent from it. Most people open one in a branch soon after landing. US rules let banks accept a passport from people who don’t yet have a Social Security number.

Opening your first account

The usual first account is a checking account (a current account), often with a linked savings account. Many newcomers open one in person at a branch in their first week. Rules differ by bank and even by branch, so call ahead and ask what they need.

Once you have your SSN, give it to your bank: see Your SSN and US tax.

Proving who you are

Bring:

• Your passport (the original) and visa
• Your I-94 arrival record, which you can download from the CBP website
• A US address: a lease, or a letter from your employer. A temporary address may do at first: ask the bank
• A US phone number (see Phones and internet)
• Your employment offer letter, if you have one

Which bank?

There are large national banks, regional banks, online-only banks and credit unions (member-owned, like a building society). We don’t recommend any. Compare:

• Monthly fee, and how to avoid it (often a minimum balance or a monthly direct deposit of your pay)
• Overdraft fees: you can choose not to opt in to overdraft cover on debit card and ATM payments, so a payment is declined instead of costing a fee
• ATM (cash machine) fees outside the bank’s own network
• Fees to receive an international wire from the UK, and to send money abroad
• Branches near home and work, and the app

Is my money protected?

The FDIC (Federal Deposit Insurance Corporation) insures deposits at insured banks to at least $250,000 per depositor, per ownership category, at each bank. Credit unions are covered to the same amount by the NCUA (National Credit Union Administration), with joint accounts covered separately. It works like the UK’s FSCS. Check the bank is FDIC-insured or the credit union is federally insured before you open an account.

How paying works

Instead of a sort code, US accounts have a 9-digit routing number (which identifies the bank) plus an account number. Your employer pays you by direct deposit. You will use:

Your credit history starts at zero

Your UK credit record does not transfer. US credit reporting companies (the big three are Equifax, Experian and TransUnion) hold reports that lenders, landlords, insurers and phone, internet and utility companies may check. With no US history, you may be asked for larger deposits or a guarantor at first. A secured credit card (where you put down a deposit as your limit), paying every bill on time and keeping balances low all help. You can check your reports from all three free every week at AnnualCreditReport.com, the official site. Read Your credit score in the USA.