Bank of America does serve some international customers, but with significant limits

Bank of America is a US bank that accepts some non-US residents as customers, but it does not operate as a true international bank. You cannot open an account online from outside the United States, and the bank does not maintain branches outside the US. If you are a non-resident alien or live abroad, you will face restrictions on account types, higher fees, and limited access to certain services that US residents take for granted.

The bank's international services focus mainly on wire transfers, currency exchange, and accounts for people who already have US ties—such as visa holders, green card holders, or people with US income. If you need banking primarily for life outside the US, Bank of America is rarely the best choice.

Key Takeaways

  • Bank of America requires you to open accounts in person at a US branch or through a US address; you cannot open remotely from abroad.
  • Non-resident aliens face account restrictions, higher monthly fees, and limited product availability compared to US citizens and permanent residents.
  • The bank charges for international wire transfers, currency conversion, and maintains minimum balance requirements that vary by account type.
  • If you live outside the US and need regular banking services, credit unions, online banks, or international-focused institutions may offer better rates and fewer restrictions.

Who Bank of America will and will not accept as a customer

Bank of America will open accounts for non-US residents if you have a valid US visa, a green card, or an Individual Taxpayer Identification Number (ITIN). You must also have a US address—either your own or a mail forwarding service—and a US phone number. The bank verifies your identity using your passport and visa documents.

The bank will not open accounts for people who are outside the US at the time of process, even if they have US ties. You must physically visit a branch to complete the account opening process. Some branches are more experienced with non-resident accounts than others; calling ahead to confirm the branch can handle your situation saves time.

If you are a citizen of certain countries or have been flagged by anti-money-laundering screening, Bank of America may decline your process. The bank uses a system called OFAC (Office of Foreign Assets Control) screening, which blocks accounts for people from sanctioned countries or with certain legal histories. This is not Bank of America's choice—it is a federal requirement—but the result is the same: your account will be denied.

Account types available to non-resident customers

Non-resident aliens at Bank of America are typically limited to basic checking and savings accounts. You will not be offered credit cards, home loans, or investment accounts in the same way US residents are. Some branches may offer a non-resident checking account with a higher monthly fee (often $12 to $15 per month) and a higher minimum balance requirement (often $1,500 to $2,500).

Savings accounts for non-residents exist but often carry the same monthly fees as checking accounts, which makes them expensive compared to accounts for US residents. Interest rates on savings are typically very low—often less than 0.01% annually—so the account functions mainly as a place to hold money rather than grow it.

International wire transfers and currency exchange

Bank of America charges for outgoing international wire transfers. The fee is typically $15 to $45 depending on the destination country and whether you use the branch or online banking. The bank also charges for incoming international wires, usually $15 per transfer. These fees are higher than many online banks and credit unions charge.

When you exchange currency through Bank of America, the bank adds a markup to the mid-market exchange rate—the rate you see on financial news sites. This markup is typically 1% to 2%, meaning you receive less foreign currency for your US dollars than the real market rate. For large transfers, this difference adds up quickly. Specialized money transfer services like Wise (formerly TransferWise) often offer better rates for international payments.

If you need to send money to family abroad regularly, Bank of America's wire transfer service is workable but not competitive. You will pay less through a dedicated international money transfer service, especially for amounts under $5,000.

Maintaining your account from abroad

Once your account is open, you can manage it from outside the US through online banking and the mobile app. Bank of America's website and app work internationally, and you can check balances, transfer money between your own accounts, and pay bills from anywhere with internet access.

However, you must maintain the minimum balance required for your account type, or you will be charged a monthly fee. For non-resident accounts, this minimum is often higher than for US residents. If your balance falls below the minimum, the bank will charge you $12 to $15 per month until you bring it back up.

You cannot deposit checks remotely if you live abroad. If you receive a US check, you will need to either mail it to a US address and have someone deposit it for you, or visit a Bank of America branch during a trip to the US. This is a significant limitation if you have US income or receive payments by check.

Alternatives that may work better for non-US residents

If you need a US bank account but live abroad, consider these options before committing to Bank of America:

Online banks with no physical branch requirement: Banks like Charles Schwab, Wise, and some credit unions allow non-residents to open accounts online without visiting a branch. Charles Schwab, for example, reimburses ATM fees worldwide and does not charge for international wire transfers, which can save you hundreds of dollars per year.

International money transfer services: If you mainly need to move money between countries, services like Wise, OFX, and Remitly offer better exchange rates and lower fees than Bank of America. These are not full banking services, but they are much cheaper for regular transfers.

Local banks in your country of residence: Opening a bank account where you actually live is usually simpler and cheaper than maintaining a US account from abroad. You will have local customer service, no international fees, and accounts designed for your situation.

Credit unions: Some US credit unions are more flexible with non-resident accounts than large banks. If you have any connection to a credit union—through an employer, a family member, or a professional association—ask whether they offer accounts to non-residents.

What happens if Bank of America closes your account

Bank of America can close a non-resident account without cause and with minimal notice. The bank typically gives 30 days' notice and will mail a check for your remaining balance to the address on file. If the bank suspects unusual activity or cannot verify your identity, it may close the account with less notice.

If your account is closed, you will not be told the specific reason in most cases. The bank may cite "business reasons" or "compliance concerns" without further explanation. This is legal under US banking law, though it is frustrating for account holders.

To reduce the risk of closure, keep your contact information current, use your account regularly (at least a few transactions per month), and avoid large, unexplained deposits or transfers. If you are planning to move or change your phone number, update your information with the bank before the change takes effect.

Frequently Asked Questions

Can I open a Bank of America account online if I live outside the US?

No. Bank of America requires you to open accounts in person at a US branch. You cannot complete the process online or by mail from abroad. If you do not have access to a US branch, you will need to wait until you can visit the United States or use a different bank.

Will Bank of America give me a credit card as a non-resident?

Rarely. Most non-resident customers are limited to checking and savings accounts. Credit card approval for non-residents depends on your credit history, visa status, and the specific branch. Call ahead to ask whether the branch you plan to visit offers credit cards to non-residents before making the trip.

How much does it cost to send money internationally through Bank of America?

Outgoing wire transfers cost $15 to $45 depending on the destination country. Incoming transfers cost $15. The bank also adds a 1% to 2% markup to the exchange rate when you convert currency. For regular international payments, a dedicated money transfer service will cost less.

What if I cannot visit a US branch to open an account?

You have several options. Charles Schwab and some credit unions allow non-residents to open accounts online. Wise and other money transfer services do not require a full bank account but let you send and receive money internationally. A local bank in your country of residence is usually the simplest choice if you need everyday banking.

Can Bank of America close my account without warning?

Yes. The bank can close non-resident accounts with 30 days' notice and without stating a specific reason. To reduce this risk, use your account regularly, keep your information current, and avoid large unexplained transfers. If your account is closed, the bank will mail your remaining balance to your address on file.