Can You Open a Bank Account With a Passport?

Opening a bank account requires establishing your identity. Financial institutions operate under strict regulations, such as Know Your Customer (KYC) and Anti-Money Laundering (AML) laws, which mandate thorough identity verification for new account holders. These regulations aim to prevent financial crimes, including terrorism financing and fraud.

Using a Passport for Identification

A passport is widely accepted as a primary form of identification for opening a bank account in the United States. It is a government-issued document with a photograph, unique identifying number, and personal details, making it a reliable source for identity confirmation. Its robust security features enhance its credibility. While a passport confirms identity, banks often require additional documentation. Other common forms of primary identification include a state-issued driver’s license or a state identification card.

Additional Required Documents

Beyond a primary identification document, banks require additional information and documentation. Proof of address is requested to verify residency, with common acceptable documents including recent utility bills, lease agreements, or bank statements. These documents help financial institutions comply with regulatory obligations to confirm a physical address.

Another essential requirement is a Taxpayer Identification Number (TIN), which for U.S. citizens and permanent residents is typically a Social Security Number (SSN). For non-residents or others who do not qualify for an SSN, an Individual Taxpayer Identification Number (ITIN) issued by the IRS is necessary for tax reporting. The Bank Secrecy Act and the Patriot Act mandate these identity verification procedures. Banks also collect contact information, such as phone numbers and email addresses.

Opening Accounts for Non-Residents

Non-residents often rely on their passports as primary identification when opening a bank account in the United States. They may encounter additional requirements compared to U.S. citizens. Providing proof of a U.S. address can be challenging, though some banks accept alternative documents like letters from U.S.-based employers or visa documents.

Obtaining an ITIN is a common step for non-residents without an SSN, as it is required for tax reporting. Some financial institutions offer specific accounts tailored for non-residents, which may have different fee structures or initial deposit requirements. Non-residents should inquire about these conditions directly with the bank.

Steps to Open an Account

Opening a bank account involves a series of procedural steps. First, select a financial institution based on service offerings, fee structures, and convenient locations. Banks offer various application methods, including in-person, online, or via mobile app.

Applicants complete forms with personal, identification, and contact information. An initial deposit is frequently required to activate the account, with amounts often ranging from $25 to $100 for basic checking or savings accounts. After submitting the application and making the initial deposit, the bank will process the information and, upon approval, activate the account.