A bank account is the base for everything else: salary, rent, bills and a first credit card. For a newcomer, opening one takes more preparation than for a local, because the bank must confirm who you are before it can accept your money.
Why banks ask so much
Banks are required to identify customers and understand who they are dealing with. In practice that means a government-issued photo ID, a way to confirm your address and, in some countries, a taxpayer number. The aim is to prevent fraud and money laundering. It is not personal, and being ready makes it quick.
Photo ID
A passport is accepted almost everywhere, together with a visa where relevant.
Proof of address
A lease, utility bill or official letter that shows your name and address.
Taxpayer number
A Social Security number or, where allowed, an individual taxpayer identification number.
Opening deposit
Some accounts require a minimum amount to open.
Choosing the account
Look for
- No monthly fee, or an easy way to waive it
- A large ATM network or refunds for foreign ATM fees
- A mobile app with alerts and card controls
- Insured deposits, see deposit insurance
Be careful with
- A big sign-up bonus that needs a large balance or a pile of deposits
- Fees for paper statements, low balances or inactivity
- Accounts you cannot access from abroad
List what you need
Salary deposit, a debit card, bill pay, transfers abroad, a savings pocket.
Shortlist three banks
One big bank, one credit union or local bank, and one online bank.
Ask about newcomers
Many banks have programmes for students or new arrivals. Ask what is accepted.
Read the fee table
Pay attention to monthly fees, overdraft charges and foreign transaction costs.
Open, fund and test
Make a small deposit, set up alerts and check that your card works.
Accounts in more than one country
Nomads and long-term travellers often keep a second account abroad, for example in Hong Kong or in the euro area. Each country has its own requirements on residency, proof of address and taxes. Some banks open accounts remotely, others need a visit. Do not open accounts you do not need, and check your tax duties before you do. The posts in the sources show how others have done it, but rules change, so treat them as stories rather than instructions.
Common mistakes
Applying with an expired or unreadable document. Check dates and scan quality.
Choosing by bonus alone. A high bonus with hard conditions can cost more than it pays.
Skipping the fee schedule. Read it before you deposit a salary.
Questions people ask
Can I open an account without a Social Security number?
Some banks accept an individual taxpayer identification number or a passport with other proof, and some do not. Ask the bank before you visit, and bring more documents than you think you need.
Is an online bank easier than a branch?
It can be, because you can apply from home. But some online banks cannot verify foreign documents remotely, and a branch can fix a problem face to face.
Sources
Written from these pages and checked against them on October 5, 2026. Programs and rules change, so check the provider’s current terms before you decide.
- FinCEN: Customer due diligence final rule
- IRS: Individual taxpayer identification number (ITIN)
- Doctor of Credit (further reading): A beginner's guide to bank account bonuses
- Digital nomad guide (Chinese, further reading): Opening a HSBC Hong Kong account
- Digital nomad guide (Chinese, further reading): Opening an N26 account
General information, not financial, legal or travel advice. Your own card terms and the provider’s current rules always come first.