# Opening a bank account when you’re new to the US > Banks usually ask for photo ID (a passport often works), a Social Security number or, at some banks, an ITIN, proof of address and a first deposit. Credit unions and community banks are often more flexible. Ask for a low-fee account with no overdraft fees, and make sure the bank is FDIC-insured or the credit union NCUA-insured. When sending money home, compare the fee and exchange rate. Avoid costly check cashers. - URL: https://explained.page/opening-a-bank-account-new-to-us - Language: en - Last checked: 2026-10-29 - Watch the 1-minute animated guide: https://explained.page/watch?start=opening-a-bank-account-new-to-us ## Step by step 1. **New to the US and need a bank account?** A bank account is safer than cash and helps you build a financial record. Here’s how to open one. 2. **Gather what banks ask for.** Photo ID, often your passport; a Social Security number or, at some banks, an ITIN; proof of address like a lease or bill; and a first deposit. 3. **Try credit unions and community banks.** They’re often more flexible with ID, and some accept foreign IDs or ITINs. Ask before you go. 4. **Ask for a low-fee account.** Look for accounts with low or no monthly fees and no overdraft fees. Many banks offer certified “Bank On” accounts. 5. **Make sure your money is insured.** Choose a bank insured by the FDIC or a credit union insured by the NCUA, so your deposits are protected. 6. **Sending money home? Compare costs.** Check both the fee and the exchange rate. U.S. rules require providers to show you costs up front, and you can dispute errors. 7. **Avoid costly shortcuts.** Check-cashing stores and some prepaid cards charge high fees. A bank account usually costs much less over time. 8. **Look it up the right way.** Search with your town or state in the words. Pick the official site: it usually ends in .gov. Skip ads and sites that charge for free forms. ## Checklist - Gather ID, SSN or ITIN, and address proof - Try credit unions and community banks - Ask for a low-fee account - Check FDIC or NCUA insurance - Compare money transfer costs - Avoid check cashers ## Why open one A bank account is safer than carrying cash, makes it easier to get paid and pay bills, and starts your financial record in the US. ## What banks usually ask for - Photo ID. Many accept a passport; some accept other foreign IDs. - A Social Security number, or at some banks an ITIN. - Proof of address, like a lease or utility bill. - A first deposit, sometimes small. ## Where to go Credit unions and community banks are often more flexible about ID. Call ahead and ask what they accept. Online banks are another option if you meet their requirements. ## Choose a low-cost account Look for no or low monthly fees and no overdraft fees. Many banks offer certified “Bank On” accounts designed to be low-cost. ## Make sure it’s insured Banks insured by the FDIC and credit unions insured by the NCUA protect your deposits up to federal limits. ## Sending money home Compare both the transfer fee and the exchange rate. U.S. rules require providers to show costs before you pay and give you time to dispute errors. ## Avoid costly shortcuts Check-cashing stores and some prepaid cards charge high fees over time. ## Common questions ### Can I open a bank account without a Social Security number? Often yes. Some banks and credit unions accept an ITIN or other ID. Call ahead to ask. Source page: https://explained.page/opening-a-bank-account-new-to-us/questions/can-i-open-a-bank-account-without-a-social-security-number ### Does having a bank account help my credit? Not directly, since checking accounts don’t usually show on credit reports. But it helps you qualify for credit cards and loans that do. Source page: https://explained.page/opening-a-bank-account-new-to-us/questions/does-having-a-bank-account-help-my-credit ### Can I open a bank account with a passport? Many banks accept a passport as photo ID. You may also need an SSN or ITIN and proof of address, depending on the bank. Source page: https://explained.page/opening-a-bank-account-new-to-us/questions/can-i-open-a-bank-account-with-a-passport ### Can I open a bank account with an ITIN? Some banks and many credit unions accept an ITIN instead of a Social Security number. Call ahead to ask. Source page: https://explained.page/opening-a-bank-account-new-to-us/questions/can-i-open-a-bank-account-with-an-itin ### What is a Bank On account? A low-cost checking account that meets national standards, like low or no monthly fees and no overdraft fees. Source page: https://explained.page/opening-a-bank-account-new-to-us/questions/what-is-a-bank-on-account ### What does FDIC insured mean? Deposits at FDIC-insured banks are protected by the federal government up to set limits if the bank fails. Credit unions have similar NCUA insurance. Source page: https://explained.page/opening-a-bank-account-new-to-us/questions/what-does-fdic-insured-mean ### What is the cheapest way to send money home? It depends on the country and amount. Compare total cost, including fees and exchange rate, across banks, credit unions and transfer services. Source page: https://explained.page/opening-a-bank-account-new-to-us/questions/what-is-the-cheapest-way-to-send-money-home ### What should I do if a money transfer goes wrong? Contact the provider quickly. U.S. rules generally give you time to report errors and require providers to investigate. Source page: https://explained.page/opening-a-bank-account-new-to-us/questions/what-should-i-do-if-a-money-transfer-goes-wrong ## Official sources - [FDIC: opening a bank account](https://www.fdic.gov/) - [NCUA: find a credit union](https://www.ncua.gov/) - [CFPB: sending money abroad](https://www.consumerfinance.gov/) To find your local office, search for: - "Bank On certified account near me" - "credit union near me ITIN account" --- General information, not legal or professional advice. Rules differ by state. From explained.page (www.explained.page). Life’s stuff, explained simply.