Yes, you can open a bank account with an ITIN, but not at every bank

An ITIN (Individual Taxpayer Identification Number) is a tax identification number issued by the IRS to people who are not U.S. citizens or permanent residents but have U.S. tax obligations. Many banks will accept an ITIN as proof of identity for opening a checking or savings account, though the process and requirements vary by institution.

The key difference from opening an account with a Social Security number is that some banks treat ITIN holders as higher-risk customers. This means you may face stricter verification requirements, higher minimum balances, or account restrictions. Some large national banks will not open accounts for ITIN holders at all, while smaller banks, credit unions, and online banks are often more willing to do so.

The account itself works exactly the same once it is open — you can deposit money, write checks, use a debit card, and set up direct deposit. The barrier is getting approved in the first place.

Key Takeaways

  • Credit unions and smaller regional banks are more likely to open accounts for ITIN holders than large national chains.
  • You will need your ITIN, a valid government-issued photo ID (passport, consular ID, or state ID), and proof of address such as a utility bill or lease.
  • Some banks require a minimum opening deposit, which ranges from $25 to $300 depending on the institution.
  • The account approval process typically takes one to three business days, though some banks may take longer to verify your identity.

Which banks accept ITIN numbers

Credit unions are your most reliable option. Most credit unions will open accounts for ITIN holders because they are member-owned and often serve communities with diverse immigration statuses. You do not need to be a U.S. citizen to join a credit union — you only need to meet their field of membership requirements, which are usually based on where you live or work.

Smaller regional and community banks also frequently accept ITIN holders. Banks like Chime, LendingClub, and some local institutions have explicit policies allowing ITIN accounts. Online banks vary — some accept ITIN numbers, others do not. You will need to contact the bank directly or check their website to confirm.

Large national banks such as Bank of America, Wells Fargo, and Chase generally do not open accounts for ITIN holders, though policies can change and may differ by branch. If you have a relationship with a large bank already (such as a family member with an account), some branches may make exceptions, but this is not may provide.

Documents you will need to bring

The bank will ask for three categories of documents: your ITIN, a photo ID, and proof of your current address.

For your ITIN, bring your IRS tax return or an ITIN assignment letter from the IRS. The assignment letter is the official document showing your ITIN was issued. If you do not have either, you can request a transcript from the IRS by calling 1-800-908-9946 or visiting irs.gov.

For photo ID, a valid passport is the most widely accepted. A consular ID (issued by your country's consulate in the U.S.) also works at most banks. Some banks will accept a state driver's license or ID card if you have one, though this is less common for ITIN holders. The ID must not be expired.

For proof of address, bring a recent utility bill, lease agreement, mortgage statement, or bank statement in your name. The document must show your current address and be dated within the last 60 to 90 days — the exact timeframe varies by bank. A cell phone bill or insurance statement may also work, but call ahead to confirm.

What happens during the account opening process

When you arrive at the bank or credit union, a representative will review your documents and enter your information into their system. They will verify your ITIN with the IRS database — this is a standard check that takes a few minutes. They will also run a check through ChexSystems, which is a banking history report system. If you have never had a U.S. bank account, this check will come back clear.

The bank may ask questions about the source of your income, your employment status, or your reason for opening the account. These questions are part of anti-money-laundering compliance, not a judgment about you. Answer honestly and directly.

If everything clears, you will sign the account agreement and deposit your opening amount. Some banks allow you to open the account in person and fund it later, while others require the deposit on the spot. You will receive your account number when ready, though your debit card and checks will arrive by mail within five to ten business days.

Minimum deposits and account fees

Minimum opening deposits for ITIN accounts range from $0 to $300, depending on the bank. Credit unions often have lower minimums or none at all. Online banks frequently have no minimum. Large banks that do accept ITIN accounts typically require $100 to $300.

Monthly maintenance fees also vary. Some banks charge $5 to $15 per month for ITIN accounts, while others charge nothing. A few banks waive fees if you maintain a minimum balance (often $500 to $1,500) or set up direct deposit. Before you open an account, ask the bank about all fees and any ways to avoid them.

Some banks also place restrictions on ITIN accounts — for example, limiting the number of transfers you can make per month or the amount you can withdraw daily. These restrictions are less common now than they were a few years ago, but they still exist at some institutions. Ask about restrictions before you open the account.

What to do if a bank refuses to open an account

If a bank turns you down, ask why. Some banks have blanket policies against ITIN accounts, while others may have refused you because of a ChexSystems flag or incomplete documentation. If it is a documentation issue, you can gather the missing items and try again at a different bank.

If the refusal is based on policy, move to your next option: a credit union in your area, an online bank that accepts ITIN holders, or a smaller regional bank. You can also ask friends or family members for recommendations — they may know of local institutions that are known to work with ITIN holders.

Some communities have nonprofit organizations that help immigrants open bank accounts. These organizations often have partnerships with specific banks and can walk you through the process. Search online for "[your city] immigrant services" or "[your state] financial inclusion" to find local resources.

Using your account once it is open

Once your account is open, you can use it like any other bank account. You can deposit checks, receive direct deposit, set up automatic bill payments, and transfer money to other accounts. You can also use your debit card to make purchases and withdraw cash from ATMs.

Some ITIN account holders report that certain services are unavailable to them — for example, some banks will not issue a credit card to an ITIN holder, or will not allow wire transfers. These restrictions are less common than they used to be, but they do still happen. If you need a specific service, ask the bank whether it is available for ITIN accounts before you open the account.

Frequently Asked Questions

Do I need a Social Security number to open a bank account?

No. An ITIN is an acceptable form of tax identification for opening a bank account. The bank needs a tax ID number for reporting purposes, but it does not have to be a Social Security number. Some banks may ask if you have a Social Security number, but if you do not, your ITIN will work.

Will opening a bank account with an ITIN affect my immigration status?

No. Opening a bank account is a financial transaction, not an immigration matter. Banks are required to verify identity and report to the IRS, but they do not report immigration status to immigration authorities. Your bank account and your immigration status are separate.

Can I open an account online with an ITIN?

Some online banks accept ITIN numbers, but the process is different from in-person opening. You will upload photos of your ITIN document and ID, and provide proof of address. Verification can take several business days. Check the bank's website or call their customer service to confirm they accept ITIN before you start the process.

What if my ITIN has expired?

An ITIN itself does not expire, but the IRS may deactivate it if you do not file taxes for three consecutive years. If your ITIN is deactivated, you can reactivate it by filing a tax return. Contact the IRS or a tax professional for help. Most banks will not open an account with a deactivated ITIN.

Can I open a joint account with someone who has a Social Security number?

Yes. Many banks allow joint accounts where one person has an ITIN and the other has a Social Security number. Both account holders will need to provide their own identification and sign the account agreement. The account will be reported under both tax IDs.