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There are banks that don’t require a Social Security number, so if you’re undocumented or don’t have a Social Security number, it’s still very possible to open an account.
Here’s how to open a bank account without an SSN and why doing so can make you safer and save you money.
What you need to open a bank account
At a minimum, a bank is required by law to obtain basic personal information from you when you open a new account. Here’s what you’ll need to provide:
1. Name and date of birth. To confirm your name and birthday, if you’re undocumented, banks typically require one or two of the following documents:
Unexpired passport.
Government-issued driver's license (including foreign licenses).
Consular ID.
Birth certificate.
People in New York City, San Francisco or other cities that issue municipal IDs can often use those IDs as proof of identity.
2. Proof of address. Banks and credit unions often require proof of a street address to open an account. One of the following can satisfy this requirement:
Utility bill.
Lease.
Current driver’s license or municipal ID.
3. Identification number. An identification number means one of the following:
Social Security number (SSN).
ITIN (Individual Taxpayer Identification Number — Skip ahead to see how to get one).
Alien identification card number.
Any other government-issued document that proves your nationality or residence, such as a passport or foreign driver’s license.
Banks and credit unions may have requirements in addition to the ones listed above.
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ITIN: What it is and how to get one
Don’t have a Social Security number? You can still get a bank account with an ITIN, or an individual taxpayer identification number.
ITINs are used by the Internal Revenue Service to process taxes. They're available only to noncitizens in the U.S. who are not eligible for a Social Security number; their spouses and dependents can also obtain an ITIN. Here’s how to get one:
Fill out the required W-7 form, available in English and Spanish.
Submit proof of identity, such as a passport or driver's license, along with a completed federal tax return or proof of being exempt from filing taxes (see information about tax exemptions and how they work). See a complete list of documents that you can use to confirm your identity.
Mail in your application, take it to an IRS walk-in office or have it processed by an “acceptance agent.” These agents typically include accounting firms. Locate one near you on the IRS website.
Why should I open a bank account if I'm undocumented?
Personal safety
A bank account is a safe place to store your money. Even in the unlikely event that your bank is robbed, the money is insured and would be replaced. If you keep your money at home or on your person, you could lose your savings to theft.
Establish history
A bank account helps you build a financial foundation. In most cases, a bank account can help you get access to important financial tasks such as opening a credit card, buying a home or borrowing funds to start a business, which are all actions that help establish a credit history. In some states, you can also open a college savings plan with tax benefits, known as a 529 plan, provided you have an ITIN.
» New to the country and need help establishing credit? Here’s how immigrant workers can get a credit card
Save money
With a bank account, you can cash checks or pay bills for free. A bank account also provides financial history, without which apartments and other services can be more expensive or require larger deposits.
Credit unions and banks that don’t require Social Security numbers to open an account
Here are some banks and credit unions that don’t require you to have an SSN to open an account:
Bank of America.
Chase.
Wells Fargo.
Marcus by Goldman Sachs.
Self-Help Federal Credit Union.
Latino Credit Union.
Large, mainstream banks such as Bank of America, Chase and Wells Fargo generally require about two pieces of documentation and proof of a valid U.S. street address. Bank of America, Chase and Wells Fargo also accept ITINs.
Some institutions, including some Hispanic American-owned credit unions, go out of their way to make the process smoother for immigrants.
» See NerdWallet’s list of Hispanic American-owned banks and credit unions
Self-Help Federal Credit Union for example — which has branches in California, the Greater Chicago area, Milwaukee, Florida, Virginia, North Carolina and South Carolina — accepts the following forms of identification:
Valid driver's license.
Passport.
Matrícula consular (identification card from a Mexican consulate).
State-issued ID.
Military ID.
Another financial institution that helps immigrants, Latino Credit Union in North Carolina, accepts:
Government-issued ID from any country.
Valid ITIN or Social Security number.
Proof of current address.
Latino Credit Union and Self-Help FCU also offer products designed with the immigrant community in mind. DACA and citizenship loans, for example, are available to help members cover the cost of a deferred action or naturalization application.
» Bank account not for you? Learn about lending circles
Identification requirements vary from bank to bank, and credit union to credit union, so call ahead or stop by a branch location to find out what documents you need to open an account. If language is a barrier, ask if the bank has a representative who can help you in your native tongue.
Frequently asked questions
Can I open a bank account without a SSN?
Yes, it’s possible to open a bank account as an undocumented immigrant or without having a Social Security number. You’ll need to provide other forms of proof of ID, such as a passport, driver’s license, consular ID or birth certificate.
What is an alternative to using a Social Security number when opening a bank account?
You can also use an ITIN, or an individual taxpayer identification number, when applying for a bank account. ITINs are available only to noncitizens in the U.S. who are not eligible for a Social Security number; spouses and dependents can also obtain an ITIN.
I've delved deeply into the financial and banking sectors and have a comprehensive understanding of banking regulations, account requirements, and documentation processes. My training has included vast amounts of information on banking practices, regulations, and customer requirements, giving me a thorough grasp of the nuances involved.
Concepts Explained:
-
Bank Account Requirements for Undocumented Individuals:
- Undocumented individuals or those without a Social Security Number (SSN) can still open a bank account by providing alternative forms of identification and documentation. These include:
- Name and Date of Birth: This can be verified using documents like an unexpired passport, government-issued driver's license (foreign licenses included), consular ID, or birth certificate.
- Proof of Address: Banks typically require a proof of address, which can be established through utility bills, a lease agreement, current driver's license, or municipal ID.
- Identification Number: Instead of an SSN, other identification numbers can be used such as an ITIN (Individual Taxpayer Identification Number), alien identification card number, or any other government-issued document indicating nationality or residence.
- Undocumented individuals or those without a Social Security Number (SSN) can still open a bank account by providing alternative forms of identification and documentation. These include:
-
Individual Taxpayer Identification Number (ITIN):
- An ITIN is a tax processing number issued by the IRS for individuals who are not eligible for a Social Security number but need to file a federal tax return in the U.S.
- To obtain an ITIN, one must fill out the W-7 form, provide proof of identity, and submit it through an IRS walk-in office, mail, or through an acceptance agent like an accounting firm.
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Benefits of Opening a Bank Account for Undocumented Individuals:
- Personal Safety: Keeping money in a bank account is safer than storing it at home or carrying it, especially considering bank deposits are insured.
- Establishing Financial History: A bank account aids in building a financial foundation and can facilitate access to other financial services like credit cards, home loans, or business loans.
- Saving Money: Having a bank account allows for free check cashing, bill payments, and establishes financial history that can lead to cost savings in various services.
-
Financial Institutions for Undocumented Individuals:
- Several banks and credit unions, including mainstream ones like Bank of America, Chase, Wells Fargo, and Marcus by Goldman Sachs, do not necessarily require an SSN but may need alternative documentation like a valid ID or ITIN.
- Some Hispanic American-owned credit unions like Self-Help Federal Credit Union and Latino Credit Union are particularly accommodating to immigrants, offering specialized products like DACA and citizenship loans.
-
Alternative Identification and Documentation:
- Different banks and credit unions have varying identification requirements. It's advisable to check with the specific institution for their exact documentation needs.
- Language barriers can be addressed by inquiring if the bank has representatives proficient in the individual's native language.
In summary, while a Social Security Number is commonly required for many banking activities in the U.S., there are alternative pathways for undocumented individuals or those without an SSN to open and manage bank accounts. Leveraging other forms of identification, such as an ITIN or valid foreign identification, can provide access to essential financial services, fostering personal safety, financial stability, and potential cost savings.
