Asked

Is there any way to open US bank for non-US residents?

I think it's time for me to open my US bank account.

I work with US clients, sell stuff in USD, buy things in USD. I pay international transaction fees or conversion fees every time money moves. That's really sucks. Time to stop it.

I know a program where Japanese can open my Union Bank account, but it has a lot of tiny rules and pricing. Looks very complicated. I'd like to know alternatives before I apply to it.

Thank you!

🐣Nomad hi.yuko.im & 🦄Visual Artist yukorabbit.art @yukorabbit

Yes. If you can walk into a branch with your passport, any of them will let you open a bank account. I had one before I even had a social security number.

gamequitters.com | twitter/ig: @camerondare

Just FYI: I was successful in doing this with Wells Fargo, but had problems with Chase. Some banks will hold 10-30% of your money for tax purposes prior to you having a SSN I believe.

I did it with both Wells Fargo and Chase. Moved to Chase because it has better online banking (didn't need physical presence to make a wire transfer, for example)

gamequitters.com | twitter/ig: @camerondare

Interesting, good to know. Revolut bank plans to open in the US in the next few months and I plan to move everything to them then.

🐣Nomad hi.yuko.im & 🦄Visual Artist yukorabbit.art @yukorabbit

Agree. Revolut looks interesting. I hope it will be available in Japan soon!

🐣Nomad hi.yuko.im & 🦄Visual Artist yukorabbit.art @yukorabbit

Thank you!
I will try it when I visit US. However, I don't have a plan to go to US in this and next year. I'm looking for an online banking solution. Do you have any idea about it? :D

gamequitters.com | twitter/ig: @camerondare

Charles Schwab let’s you open a US bank online but you would have to provide proof of residence + social security number. Not sure of others if you are non-resident.

🐣Nomad hi.yuko.im & 🦄Visual Artist yukorabbit.art @yukorabbit

Yeah, Charles Schwab would be the ideal choice if i were eligible to open my account. Their service is best for digital nomads.

Building microstartups at Treadie

Stripe Atlas opens a US account for you as part of company incorporation. So it might be an alternative since you mostly use it for business.

🐣Nomad hi.yuko.im & 🦄Visual Artist yukorabbit.art @yukorabbit

Thank you! I've never heard about Stripe Atlas. This would be a perfect idea if my business become big enough to start a company. I bookmarked the page! :D

I would recommend trying out transferwise.com/sg/business/… , which essentially creates pseudo "bank accounts" you can receive payments from in multiple currencies, including USD.

I have not used this particular feature, but I have transferred money in different currencies using this platform before.

Generally their transaction fees are cheaper than most banks, and it seems like a good alternative vs. maintaining a bank relationship in the states.

🐣Nomad hi.yuko.im & 🦄Visual Artist yukorabbit.art @yukorabbit

Thank you for letting me know about this! Actually I already tried to create borderless account, but they said that they are not ready for Japan. I will try once again when I travel in Europe from this October :D