Where Can I Open a Bank Account If I’m Not a US Citizen?


Our experts answer readers’ banking questions and write unbiased product reviews (here’s how we assess banking products). In some cases, we receive a commission from our partners; however, our opinions are our own. Terms apply to offers listed on this page.

  • Many banks require you to bring a US ID, social security number (SSN), and more to open an account. 
  • However, there are banks that let you use alternative forms of ID to open an account if you’re not a US citizen.
  • Juntos Avanzamos designated credit unions provide services for immigrants and non-US citizens. 

When you open a bank account, financial institutions require several forms of identification to verify your identity. Many banks and credit unions will ask for at least a government-issued ID, social security number, and home address. Some banks may have stricter documentation requirements.

If you’re not a US citizen, you may not have an SSN or the required IDs needed to open an account at many places. But you do have options. Below, you’ll find over 25 banks and credit unions throughout the US that accept documents such as foreign IDs if you’re not a US citizen.

See Insider’s best national banks>>

Banks and credit unions that accept alternative forms of ID

1. Bank of America

Bank of America Advantage Savings Account

3.25/5

A five pointed starA five pointed starA five pointed starA five pointed starA five pointed star


Annual Percentage Yield (APY)

0.01% to 0.04%


Minimum Deposit Amount

$100


Fees

$8 monthly service fee

Bank of America Advantage Savings Account

3.25/5

A five pointed starA five pointed starA five pointed starA five pointed starA five pointed star


Annual Percentage Yield (APY)

0.01% to 0.04%


Minimum Deposit Amount

$100


Fees

$8 monthly service fee

Bank of America, Member FDIC


Bank of America Advantage Savings Account

Details


Fees

$8 monthly service fee


Annual Percentage Yield (APY)

0.01% to 0.04%


Minimum Deposit Amount

$100

Pros & Cons
Chevron iconIt indicates an expandable section or menu, or sometimes previous / next navigation options.

Highlights
Chevron iconIt indicates an expandable section or menu, or sometimes previous / next navigation options.

Additional Reading
Chevron iconIt indicates an expandable section or menu, or sometimes previous / next navigation options.

Branch locations: Over 3,900 branches throughout the US 

Alternative identification forms you can use: You need to have two forms of ID with photos. For your primary ID, you can use a Canadian Citizenship Certificate Card, Foreign passport, Mexican Consular ID, Dominican Republic Consular ID, Colombian Consular ID, or Guatemalan Consular ID. 

For your secondary ID, you can use any of the primary IDs mentioned — or a credit card from a major financial institution or retail company, debit card from a financial institution, foreign driver’s license, Mexican Voter Registration Card, U.S. Department of State Diplomat ID, or U.S. issued employment ID.

See Insider’s Bank of America Review>>

2. Wells Fargo 

Wells Fargo Way2Save® Savings Account

2.5/5

A five pointed starA five pointed starA five pointed starA five pointed starA five pointed star


Annual Percentage Yield (APY)

0.15%


Minimum Deposit Amount

$25


Fees

$5 monthly service fee

Wells Fargo Way2Save® Savings Account

2.5/5

A five pointed starA five pointed starA five pointed starA five pointed starA five pointed star


Annual Percentage Yield (APY)

0.15%


Minimum Deposit Amount

$25


Fees

$5 monthly service fee


Wells Fargo Way2Save® Savings Account

Details


Fees

$5 monthly service fee


Annual Percentage Yield (APY)

0.15%


Minimum Deposit Amount

$25

Pros & Cons
Chevron iconIt indicates an expandable section or menu, or sometimes previous / next navigation options.

Highlights
Chevron iconIt indicates an expandable section or menu, or sometimes previous / next navigation options.

Branch locations: Over 4,900 branch locations throughout the US

Alternative identification forms you can use: You’ll need two forms of ID. Any of the following can be used: a permanent resident card, foreign visa, foreign passport, or Individual Taxpayer Identification (ITIN) number.

See Insider’s Wells Fargo Bank Review>>

3. U.S. Bank

U.S. Bank Smartly® Checking

4/5

A five pointed starA five pointed starA five pointed starA five pointed starA five pointed star


Annual Percentage Yield (APY)

See site for details


Minimum Deposit Amount

$25


Fees

$6.95 monthly service fee

U.S. Bank Smartly® Checking

4/5

A five pointed starA five pointed starA five pointed starA five pointed starA five pointed star


Annual Percentage Yield (APY)

See site for details


Minimum Deposit Amount

$25


Fees

$6.95 monthly service fee


U.S. Bank Smartly® Checking

Details


Fees

$6.95 monthly service fee


Annual Percentage Yield (APY)

See site for details


Minimum Deposit Amount

$25

Pros & Cons
Chevron iconIt indicates an expandable section or menu, or sometimes previous / next navigation options.

Highlights
Chevron iconIt indicates an expandable section or menu, or sometimes previous / next navigation options.

Additional Reading
Chevron iconIt indicates an expandable section or menu, or sometimes previous / next navigation options.

Branch locations: Over 2,000 locations throughout the US

Alternative identification forms you can use: U.S. Bank locations allow you to use a Mexican Matricula Consular as a primary ID to open a bank account.

See Insider’s U.S. Bank Review>>

4. Santander Bank

Santander® Bank, N.A. Savings Account

3.75/5

A five pointed starA five pointed starA five pointed starA five pointed starA five pointed star


Annual Percentage Yield (APY)

0.03%


Minimum Deposit Amount

$25

Santander® Bank, N.A. Savings Account

3.75/5

A five pointed starA five pointed starA five pointed starA five pointed starA five pointed star


Annual Percentage Yield (APY)

0.03%


Minimum Deposit Amount

$25

On Santander Bank’s site. Santander Bank, FDIC Insured


Santander® Bank, N.A. Savings Account

Details


Annual Percentage Yield (APY)

0.03%


Minimum Deposit Amount

$25

Pros & Cons
Chevron iconIt indicates an expandable section or menu, or sometimes previous / next navigation options.

Highlights
Chevron iconIt indicates an expandable section or menu, or sometimes previous / next navigation options.

Branch locations: 473 branches in the Northeast

Alternative identification forms you can use: If you aren’t a US citizen, you’ll need to have an SSN, ITIN, passport number, permanent resident card, or government-issued ID. You’ll also need to bring with you three forms of ID.

For a primary ID, you can use a foreign passport, Mexican Matricula card, or Guatemalan Consular ID. For your secondary ID, you’ll need any two of the following: employee ID, vehicle registration, birth certificate, medical insurance card, university or school ID, lease agreement, deed, utility bill, debit or ATM card, credit card from a major financial institution, any Matricula ID, any Consular ID, or government visa. For any US IDs, you can view a checklist here

See Insider’s Santander Bank Review>>

5. Fifth Third Bank 

Fifth Third Momentum® Savings Account

3.25/5

A five pointed starA five pointed starA five pointed starA five pointed starA five pointed star


Annual Percentage Yield (APY)

0.01%


Minimum Deposit Amount

$0


Fees

$5 monthly service fee

Fifth Third Momentum® Savings Account

3.25/5

A five pointed starA five pointed starA five pointed starA five pointed starA five pointed star


Annual Percentage Yield (APY)

0.01%


Minimum Deposit Amount

$0


Fees

$5 monthly service fee

On Fifth Third Bank’s website


Fifth Third Momentum® Savings Account

Details


Fees

$5 monthly service fee


Annual Percentage Yield (APY)

0.01%


Minimum Deposit Amount

$0

Pros & Cons
Chevron iconIt indicates an expandable section or menu, or sometimes previous / next navigation options.

Highlights
Chevron iconIt indicates an expandable section or menu, or sometimes previous / next navigation options.

Additional Reading
Chevron iconIt indicates an expandable section or menu, or sometimes previous / next navigation options.

Branch locations: 1,087 branches in 11 US states in the Southeast and Midwest

Alternative identification forms you can use: At Fifth Third Bank you can use a Mexican Matricula card as a form of identification. 

See Insider’s Fifth Third Bank Review>>

6. KeyBank 

KeyBank Active Saver Account

3.5/5

A five pointed starA five pointed starA five pointed starA five pointed starA five pointed star


Annual Percentage Yield (APY)

0.01%


Minimum Deposit Amount

$10


Fees

$4 monthly service fee

KeyBank Active Saver Account

3.5/5

A five pointed starA five pointed starA five pointed starA five pointed starA five pointed star


Annual Percentage Yield (APY)

0.01%


Minimum Deposit Amount

$10


Fees

$4 monthly service fee


KeyBank Active Saver Account

Details


Fees

$4 monthly service fee


Annual Percentage Yield (APY)

0.01%


Minimum Deposit Amount

$10

Pros & Cons
Chevron iconIt indicates an expandable section or menu, or sometimes previous / next navigation options.

Highlights
Chevron iconIt indicates an expandable section or menu, or sometimes previous / next navigation options.

Additional Reading
Chevron iconIt indicates an expandable section or menu, or sometimes previous / next navigation options.

Branch and ATM locations: Over 1,000 branches in 16 US states

Alternative identification forms you can use: At KeyBank, you can use a foreign passport, Canadian driver’s license, Mexican driver’s license, Mexican Matricula card, or permanent resident card as your primary form of ID. 

See Insider’s KeyBank Review>>

7. Hope Credit Union

Hope Credit Union Savings Account

4.25/5

A five pointed starA five pointed starA five pointed starA five pointed starA five pointed star


Annual Percentage Yield (APY)

up to 0.25%


Minimum Deposit Amount

$15


Fees

no monthly service fee

Hope Credit Union Savings Account

4.25/5

A five pointed starA five pointed starA five pointed starA five pointed starA five pointed star


Annual Percentage Yield (APY)

up to 0.25%


Minimum Deposit Amount

$15


Fees

no monthly service fee

On Hope Credit Union’s secure site. Hope Credit Union, NCUA insured.


Hope Credit Union Savings Account

Details


Fees

no monthly service fee


Annual Percentage Yield (APY)

up to 0.25%


Minimum Deposit Amount

$15

Pros & Cons
Chevron iconIt indicates an expandable section or menu, or sometimes previous / next navigation options.

Highlights
Chevron iconIt indicates an expandable section or menu, or sometimes previous / next navigation options.

Additional Reading
Chevron iconIt indicates an expandable section or menu, or sometimes previous / next navigation options.

Branch and ATM locations: 28 branches in Alabama, Arkansas, Louisiana, Missouri, and Tennessee

Alternative identification forms you can use: As a Juntos Avanzamos designated credit union, you can open an account even if you don’t have a social security number. You’ll need to provide an ITIN number and home address to open an account. 

See Insider’s Hope Credit Union Review>>

8. River City Credit Union

River City Federal Credit Union Savings Account

4/5

A five pointed starA five pointed starA five pointed starA five pointed starA five pointed star


Annual Percentage Yield (APY)

0.20%


Minimum Deposit Amount

$5


Fees

no monthly service fee

River City Federal Credit Union Savings Account

4/5

A five pointed starA five pointed starA five pointed starA five pointed starA five pointed star


Annual Percentage Yield (APY)

0.20%


Minimum Deposit Amount

$5


Fees

no monthly service fee

On River City Federal Credit Union’s website


River City Federal Credit Union Savings Account

Details


Fees

no monthly service fee


Annual Percentage Yield (APY)

0.20%


Minimum Deposit Amount

$5

Pros & Cons
Chevron iconIt indicates an expandable section or menu, or sometimes previous / next navigation options.

Highlights
Chevron iconIt indicates an expandable section or menu, or sometimes previous / next navigation options.

Additional Reading
Chevron iconIt indicates an expandable section or menu, or sometimes previous / next navigation options.

Branch locations: 5 branches in San Antonio, Texas

Alternative identification forms you can use: As a Juntos Avanzamos designated credit union, you can open an account even if you don’t have a social security number. You can use a permanent resident card or another government-issued ID.

See Insider’s River City Federal Credit Union Review>>

9. Guadalupe Credit Union

Guadalupe Credit Union Savings Account

3.75/5

A five pointed starA five pointed starA five pointed starA five pointed starA five pointed star


Annual Percentage Yield (APY)

0.00% to 0.10%


Minimum Deposit Amount

$5


Fees

no monthly service fee

Guadalupe Credit Union Savings Account

3.75/5

A five pointed starA five pointed starA five pointed starA five pointed starA five pointed star


Annual Percentage Yield (APY)

0.00% to 0.10%


Minimum Deposit Amount

$5


Fees

no monthly service fee

Guadalupe Credit Union, NCUA insured.


Guadalupe Credit Union Savings Account

Details


Fees

no monthly service fee


Annual Percentage Yield (APY)

0.00% to 0.10%


Minimum Deposit Amount

$5

Pros & Cons
Chevron iconIt indicates an expandable section or menu, or sometimes previous / next navigation options.

Highlights
Chevron iconIt indicates an expandable section or menu, or sometimes previous / next navigation options.

Additional Reading
Chevron iconIt indicates an expandable section or menu, or sometimes previous / next navigation options.

Branch locations: 7 branches in New Mexico (Santa Fe, Espanola, Mora, Taos)

Alternative identification forms you can use: As a Juntos Avanzamos designated credit union, you can open an account even if you don’t have a social security number. You can use a permanent resident card or another government-issued ID.

See Insider’s Guadalupe Credit Union Review>>

1o. Tucoemas Credit Union

Tucoemas Federal Credit Union Regular Share Savings Account

3.5/5

A five pointed starA five pointed starA five pointed starA five pointed starA five pointed star


Annual Percentage Yield (APY)

0.20%


Minimum Deposit Amount

$5

Tucoemas Federal Credit Union Regular Share Savings Account

3.5/5

A five pointed starA five pointed starA five pointed starA five pointed starA five pointed star


Annual Percentage Yield (APY)

0.20%


Minimum Deposit Amount

$5

On Tucoemas Federal Credit Union’s website


Tucoemas Federal Credit Union Regular Share Savings Account

Details


Annual Percentage Yield (APY)

0.20%


Minimum Deposit Amount

$5

Pros & Cons
Chevron iconIt indicates an expandable section or menu, or sometimes previous / next navigation options.

Highlights
Chevron iconIt indicates an expandable section or menu, or sometimes previous / next navigation options.

Branch and ATM locations: 5 branch locations in California (Visalia, Tulare, Porterville)

Alternative identification forms you can use: As a Juntos Avanzamos designated credit union, you can open an account even if you don’t have a social security number. You can use a permanent resident card, foreign passport, or Matricula Consular as a photo ID. Plus, you’ll need to provide an ITIN number and home address to open an account. 

11. JetStream Credit Union

JetStream Credit Union Savings Account

3.75/5

A five pointed starA five pointed starA five pointed starA five pointed starA five pointed star


Annual Percentage Yield (APY)

0.05%


Minimum Deposit Amount

$5

JetStream Credit Union Savings Account

3.75/5

A five pointed starA five pointed starA five pointed starA five pointed starA five pointed star


Annual Percentage Yield (APY)

0.05%


Minimum Deposit Amount

$5

On JetStream Credit Union’s website


JetStream Credit Union Savings Account

Details


Annual Percentage Yield (APY)

0.05%


Minimum Deposit Amount

$5

Pros & Cons
Chevron iconIt indicates an expandable section or menu, or sometimes previous / next navigation options.

Highlights
Chevron iconIt indicates an expandable section or menu, or sometimes previous / next navigation options.

Branch locations: 3 branches near Miami, Florida, 1 branch in Puerto Rico

Alternative identification forms you can use: As a Juntos Avanzamos designated credit union, you can open an account even if you don’t have a social security number. You can use a permanent resident card, foreign passport, or Matricula Consular as a photo ID. Plus, you’ll need to provide an ITIN number and home address to open an account. 

12. North Jersey Federal Credit Union

North Jersey Federal Credit Union Share Savings Account

3.75/5

A five pointed starA five pointed starA five pointed starA five pointed starA five pointed star


Annual Percentage Yield (APY)

0.01%


Minimum Deposit Amount

$50

North Jersey Federal Credit Union Share Savings Account

3.75/5

A five pointed starA five pointed starA five pointed starA five pointed starA five pointed star


Annual Percentage Yield (APY)

0.01%


Minimum Deposit Amount

$50

On North Jersey Federal Credit Union’s website


North Jersey Federal Credit Union Share Savings Account

Details


Annual Percentage Yield (APY)

0.01%


Minimum Deposit Amount

$50

Pros & Cons
Chevron iconIt indicates an expandable section or menu, or sometimes previous / next navigation options.

Highlights
Chevron iconIt indicates an expandable section or menu, or sometimes previous / next navigation options.

Branch and ATM locations: 3 branches in New Jersey (Totowa, Newark, Elmwood Park)

Alternative identification forms you can use: As a Juntos Avanzamos designated credit union, you can open an account even if you don’t have a social security number. You can use a permanent resident card, foreign passport, foreign driver’s license, or Matricula Consular as a photo ID. Plus, you’ll need to provide an ITIN number and proof of address. 

13. Rio Grande Credit Union

Rio Grande Credit Union Primary Savings Account

4/5

A five pointed starA five pointed starA five pointed starA five pointed starA five pointed star


Annual Percentage Yield (APY)

0.00% to 0.15%


Minimum Deposit Amount

$5

Rio Grande Credit Union Primary Savings Account

4/5

A five pointed starA five pointed starA five pointed starA five pointed starA five pointed star


Annual Percentage Yield (APY)

0.00% to 0.15%


Minimum Deposit Amount

$5

On Rio Grande Credit Union’s website


Rio Grande Credit Union Primary Savings Account

Details


Annual Percentage Yield (APY)

0.00% to 0.15%


Minimum Deposit Amount

$5

Pros & Cons
Chevron iconIt indicates an expandable section or menu, or sometimes previous / next navigation options.

Highlights
Chevron iconIt indicates an expandable section or menu, or sometimes previous / next navigation options.

Branch and ATM locations: 7 branches in New Mexico (Albuquerque, Rio Rancho)

Alternative identification forms you can use: As a Juntos Avanzamos designated credit union, you can open an account even if you don’t have a social security number. You can provide an ITIN number and proof of address. 

14. Brooklyn Cooperative 

Brooklyn Cooperative Simple Savings Account

3.75/5

A five pointed starA five pointed starA five pointed starA five pointed starA five pointed star


Annual Percentage Yield (APY)

0.15%


Minimum Deposit Amount

$5

Brooklyn Cooperative Simple Savings Account

3.75/5

A five pointed starA five pointed starA five pointed starA five pointed starA five pointed star


Annual Percentage Yield (APY)

0.15%


Minimum Deposit Amount

$5

On Brooklyn Cooperative’s website


Brooklyn Cooperative Simple Savings Account

Details


Annual Percentage Yield (APY)

0.15%


Minimum Deposit Amount

$5

Pros & Cons
Chevron iconIt indicates an expandable section or menu, or sometimes previous / next navigation options.

Highlights
Chevron iconIt indicates an expandable section or menu, or sometimes previous / next navigation options.

Branch and ATM locations: 3 branches in New York (Brooklyn, Bushwick, Bedford-Stuyvesant)

Alternative identification forms you can use: As a Juntos Avanzamos designated credit union, you can open an account even if you don’t have a social security number. You can use a permanent resident card, foreign passport, or Matricula Consular as a photo ID. Plus, you’ll need to provide an ITIN number and proof of address. 

15. Border Federal Credit Union

Border Federal Credit Union Regular Savings Account

3.5/5

A five pointed starA five pointed starA five pointed starA five pointed starA five pointed star


Annual Percentage Yield (APY)

0.00% to 0.10%


Minimum Deposit Amount

$25


Fees

no monthly service fee

Border Federal Credit Union Regular Savings Account

3.5/5

A five pointed starA five pointed starA five pointed starA five pointed starA five pointed star


Annual Percentage Yield (APY)

0.00% to 0.10%


Minimum Deposit Amount

$25


Fees

no monthly service fee

On Border Federal Credit Union’s website


Border Federal Credit Union Regular Savings Account

Details


Fees

no monthly service fee


Annual Percentage Yield (APY)

0.00% to 0.10%


Minimum Deposit Amount

$25

Pros & Cons
Chevron iconIt indicates an expandable section or menu, or sometimes previous / next navigation options.

Highlights
Chevron iconIt indicates an expandable section or menu, or sometimes previous / next navigation options.

Additional Reading
Chevron iconIt indicates an expandable section or menu, or sometimes previous / next navigation options.

Branch and ATM locations: 5 branches in Texas (Del Rio, Eagle Pass, Crystal City)

Alternative identification forms you can use: As a Juntos Avanzamos designated credit union, you can open an account even if you don’t have a social security number. You can use a permanent resident card or another government-issued ID.

See Insider’s Border Federal Credit Union Review>>

16. Caprock Federal Credit Union

Caprock Federal Credit Union Share Account

3.75/5

A five pointed starA five pointed starA five pointed starA five pointed starA five pointed star


Annual Percentage Yield (APY)

0.02% to 0.06%


Minimum Deposit Amount

$25

Caprock Federal Credit Union Share Account

3.75/5

A five pointed starA five pointed starA five pointed starA five pointed starA five pointed star


Annual Percentage Yield (APY)

0.02% to 0.06%


Minimum Deposit Amount

$25

On Caprock Federal Credit Union’s website


Caprock Federal Credit Union Share Account

Details


Annual Percentage Yield (APY)

0.02% to 0.06%


Minimum Deposit Amount

$25

Pros & Cons
Chevron iconIt indicates an expandable section or menu, or sometimes previous / next navigation options.

Highlights
Chevron iconIt indicates an expandable section or menu, or sometimes previous / next navigation options.

Branch and ATM locations: 2 branches in Texas ( Lamesa, Seminole)

Alternative identification forms you can use: As a Juntos Avanzamos designated credit union, you can use a permanent resident card, foreign passport, or Matricula Consular as a photo ID. Plus, you’ll need to provide an ITIN number and proof of address. 

17. Coastal Community Federal Credit Union

Coastal Community Federal Credit Special Savings Account Union

3.75/5

A five pointed starA five pointed starA five pointed starA five pointed starA five pointed star


Annual Percentage Yield (APY)

0.05%


Minimum Deposit Amount

$100

Coastal Community Federal Credit Special Savings Account Union

3.75/5

A five pointed starA five pointed starA five pointed starA five pointed starA five pointed star


Annual Percentage Yield (APY)

0.05%


Minimum Deposit Amount

$100

On Coastal Community Federal Credit Union’s website


Coastal Community Federal Credit Special Savings Account Union

Details


Annual Percentage Yield (APY)

0.05%


Minimum Deposit Amount

$100

Pros & Cons
Chevron iconIt indicates an expandable section or menu, or sometimes previous / next navigation options.

Highlights
Chevron iconIt indicates an expandable section or menu, or sometimes previous / next navigation options.

Branch and ATM locations: 1 main branch in Galveston, Texas 

Alternative identification forms you can use: As a Juntos Avanzamos designated credit union, you can use a permanent resident card, foreign passport, or Matricula Consular as a photo ID. Plus, you’ll need to provide an ITIN number and proof of address. 

18. FirstLight Federal Credit Union 

First Light Federal Credit Union Share Account

4/5

A five pointed starA five pointed starA five pointed starA five pointed starA five pointed star


Annual Percentage Yield (APY)

0.15%


Minimum Deposit Amount

$5

First Light Federal Credit Union Share Account

4/5

A five pointed starA five pointed starA five pointed starA five pointed starA five pointed star


Annual Percentage Yield (APY)

0.15%


Minimum Deposit Amount

$5

On FirstLight Federal Credit Union’s website


First Light Federal Credit Union Share Account

Details


Annual Percentage Yield (APY)

0.15%


Minimum Deposit Amount

$5

Pros & Cons
Chevron iconIt indicates an expandable section or menu, or sometimes previous / next navigation options.

Highlights
Chevron iconIt indicates an expandable section or menu, or sometimes previous / next navigation options.

Branch and ATM locations: 11 branches in El Paso, Texas, and Las Cruces, New Mexico

Alternative identification forms you can use: As a Juntos Avanzamos designated credit union, you can use a permanent resident card, foreign passport, or Matricula Consular as a photo ID. Plus, you’ll need to provide an ITIN number and proof of address. 

19. GECU

GECU Savings Account

4/5

A five pointed starA five pointed starA five pointed starA five pointed starA five pointed star


Annual Percentage Yield (APY)

0.15%


Minimum Deposit Amount

$10


Fees

no monthly service fee

GECU Savings Account

4/5

A five pointed starA five pointed starA five pointed starA five pointed starA five pointed star


Annual Percentage Yield (APY)

0.15%


Minimum Deposit Amount

$10


Fees

no monthly service fee


GECU Savings Account

Details


Fees

no monthly service fee


Annual Percentage Yield (APY)

0.15%


Minimum Deposit Amount

$10

Pros & Cons
Chevron iconIt indicates an expandable section or menu, or sometimes previous / next navigation options.

Highlights
Chevron iconIt indicates an expandable section or menu, or sometimes previous / next navigation options.

Additional Reading
Chevron iconIt indicates an expandable section or menu, or sometimes previous / next navigation options.

Branch locations: 27 locations in El Paso, Texas, and part of the Co-Op Shared network

Alternative identification forms you can use: As a Juntos Avanzamos designated credit union, you can open an account even if you don’t have a social security number. You can use a permanent resident card, foreign passport, or Matricula Consular as a photo ID. Plus, you’ll need to provide an ITIN number and proof of address. 

See Insider’s GECU Review>>

20. Generations Federal Credit Union

Generations Federal Credit Union Share Savings Account

4/5

A five pointed starA five pointed starA five pointed starA five pointed starA five pointed star


Annual Percentage Yield (APY)

0.10%


Minimum Deposit Amount

$5

Generations Federal Credit Union Share Savings Account

4/5

A five pointed starA five pointed starA five pointed starA five pointed starA five pointed star


Annual Percentage Yield (APY)

0.10%


Minimum Deposit Amount

$5

On Generations Federal Credit Union’s website


Generations Federal Credit Union Share Savings Account

Details


Annual Percentage Yield (APY)

0.10%


Minimum Deposit Amount

$5

Pros & Cons
Chevron iconIt indicates an expandable section or menu, or sometimes previous / next navigation options.

Highlights
Chevron iconIt indicates an expandable section or menu, or sometimes previous / next navigation options.

Branch and ATM locations: 6 branches in San Antonio, Texas and is part of the Co-Op Shared network

Alternative identification forms you can use: As a Juntos Avanzamos designated credit union, you can use a permanent resident card, foreign passport, or Matricula Consular as a photo ID. Plus, you’ll need to provide an ITIN number and proof of address. 

21. Resource One Credit Union

Resource One Credit Union Basic Savings Account

4/5

A five pointed starA five pointed starA five pointed starA five pointed starA five pointed star


Annual Percentage Yield (APY)

0.10%


Minimum Deposit Amount

$25

Resource One Credit Union Basic Savings Account

4/5

A five pointed starA five pointed starA five pointed starA five pointed starA five pointed star


Annual Percentage Yield (APY)

0.10%


Minimum Deposit Amount

$25

On Resource One Credit Union’s website


Resource One Credit Union Basic Savings Account

Details


Annual Percentage Yield (APY)

0.10%


Minimum Deposit Amount

$25

Pros & Cons
Chevron iconIt indicates an expandable section or menu, or sometimes previous / next navigation options.

Highlights
Chevron iconIt indicates an expandable section or menu, or sometimes previous / next navigation options.

Branch and ATM locations: 13 branches in Texas (Carrollton, Cedar Hill, Dallas, Irving, Houston, Mesquite, Dallas, Garland, and Road Spring) and part of the CO-Op Shared network.

Alternative identification forms you can use: As a Juntos Avanzamos designated credit union, you can open an account even if you don’t have a social security number. You can use a permanent resident card, foreign passport, or Matricula Consular as a photo ID. Plus, you’ll need to provide an ITIN number and proof of address. 

22. Rocket Federal Credit Union

Rocket Federal Credit Union Share Account

4/5

A five pointed starA five pointed starA five pointed starA five pointed starA five pointed star


Annual Percentage Yield (APY)

0.25%


Minimum Deposit Amount

$25

Rocket Federal Credit Union Share Account

4/5

A five pointed starA five pointed starA five pointed starA five pointed starA five pointed star


Annual Percentage Yield (APY)

0.25%


Minimum Deposit Amount

$25

On Rocket Federal Credit Union’s website


Rocket Federal Credit Union Share Account

Details


Annual Percentage Yield (APY)

0.25%


Minimum Deposit Amount

$25

Pros & Cons
Chevron iconIt indicates an expandable section or menu, or sometimes previous / next navigation options.

Highlights
Chevron iconIt indicates an expandable section or menu, or sometimes previous / next navigation options.

Branch and ATM locations: 1 branch in McGregor, Texas

Alternative identification forms you can use: As a Juntos Avanzamos designated credit union, you can use a permanent resident card, foreign passport, or Matricula Consular as a photo ID. Plus, you’ll need to provide an ITIN number and proof of address. 

23. Security First Credit Union

Security First Credit Union Regular Share Account

3.75/5

A five pointed starA five pointed starA five pointed starA five pointed starA five pointed star


Annual Percentage Yield (APY)

0.00% to 0.25%


Minimum Deposit Amount

$5


Fees

no monthly service fee

Security First Credit Union Regular Share Account

3.75/5

A five pointed starA five pointed starA five pointed starA five pointed starA five pointed star


Annual Percentage Yield (APY)

0.00% to 0.25%


Minimum Deposit Amount

$5


Fees

no monthly service fee

Security First Credit Union, NCUA insured.


Security First Credit Union Regular Share Account

Details


Fees

no monthly service fee


Annual Percentage Yield (APY)

0.00% to 0.25%


Minimum Deposit Amount

$5

Pros & Cons
Chevron iconIt indicates an expandable section or menu, or sometimes previous / next navigation options.

Highlights
Chevron iconIt indicates an expandable section or menu, or sometimes previous / next navigation options.

Additional Reading
Chevron iconIt indicates an expandable section or menu, or sometimes previous / next navigation options.

Branch and ATM locations: 9 branches in Texas (Brownsville, Edinburg, Harlingen, McAllen, Mission, Pharr, San Benito, Weslaco)

Alternative identification forms you can use: As a Juntos Avanzamos designated credit union, you can use a permanent resident card, foreign passport, or Matricula Consular as a photo ID. Plus, you’ll need to provide an ITIN number and proof of address. 

See Insider’s Security First Credit Union Review>>

24. Select Federal Credit Union

Select Federal Credit Union Savings Account

4/5

A five pointed starA five pointed starA five pointed starA five pointed starA five pointed star


Annual Percentage Yield (APY)

0.25%


Minimum Deposit Amount

$5

Select Federal Credit Union Savings Account

4/5

A five pointed starA five pointed starA five pointed starA five pointed starA five pointed star


Annual Percentage Yield (APY)

0.25%


Minimum Deposit Amount

$5

On Select Federal Credit Union’s website


Select Federal Credit Union Savings Account

Details


Annual Percentage Yield (APY)

0.25%


Minimum Deposit Amount

$5

Pros & Cons
Chevron iconIt indicates an expandable section or menu, or sometimes previous / next navigation options.

Highlights
Chevron iconIt indicates an expandable section or menu, or sometimes previous / next navigation options.

Branch and ATM locations: 2 branches in San Antonio, Texas

Alternative identification forms you can use: As a Juntos Avanzamos designated credit union, you can use a permanent resident card, foreign passport, or Matricula Consular as a photo ID. Plus, you’ll need to provide an ITIN number and proof of address.

25. Southwest 66 Credit Union

Southwest 66 Credit Union Regular Shares Account

4/5

A five pointed starA five pointed starA five pointed starA five pointed starA five pointed star


Annual Percentage Yield (APY)

0.20%


Minimum Deposit Amount

$1

Southwest 66 Credit Union Regular Shares Account

4/5

A five pointed starA five pointed starA five pointed starA five pointed starA five pointed star


Annual Percentage Yield (APY)

0.20%


Minimum Deposit Amount

$1

On Southwest 66 Credit Union’s website


Southwest 66 Credit Union Regular Shares Account

Details


Annual Percentage Yield (APY)

0.20%


Minimum Deposit Amount

$1

Pros & Cons
Chevron iconIt indicates an expandable section or menu, or sometimes previous / next navigation options.

Highlights
Chevron iconIt indicates an expandable section or menu, or sometimes previous / next navigation options.

Branch and ATM locations: 3 branches in Texas (Odessa, Midland)

Alternative identification forms you can use: As a Juntos Avanzamos designated credit union, you can use a permanent resident card, foreign passport, or Matricula Consular as a photo ID. Plus, you’ll need to provide an ITIN number and proof of address.

26. Star of Texas Credit Union

Star of Texas Credit Union Regular Savings Account

3.5/5

A five pointed starA five pointed starA five pointed starA five pointed starA five pointed star


Annual Percentage Yield (APY)

0.15%


Minimum Deposit Amount

$10

Star of Texas Credit Union Regular Savings Account

3.5/5

A five pointed starA five pointed starA five pointed starA five pointed starA five pointed star


Annual Percentage Yield (APY)

0.15%


Minimum Deposit Amount

$10

On Star of Texas Credit Union’s website


Star of Texas Credit Union Regular Savings Account

Details


Annual Percentage Yield (APY)

0.15%


Minimum Deposit Amount

$10

Pros & Cons
Chevron iconIt indicates an expandable section or menu, or sometimes previous / next navigation options.

Highlights
Chevron iconIt indicates an expandable section or menu, or sometimes previous / next navigation options.

Branch and ATM locations: 2 branches in Austin, Texas

Alternative identification forms you can use: As a Juntos Avanzamos designated credit union, you can open an account even if you don’t have a social security number. You can use a permanent resident card, foreign passport, or Matricula Consular as a photo ID. Plus, you’ll need to provide an ITIN number and proof of address if one of your IDs doesn’t include it. 

27. DC Credit Union

DC Credit Union Regular Savings Account

3.5/5

A five pointed starA five pointed starA five pointed starA five pointed starA five pointed star


Annual Percentage Yield (APY)

0.05%


Minimum Deposit Amount

$5

DC Credit Union Regular Savings Account

3.5/5

A five pointed starA five pointed starA five pointed starA five pointed starA five pointed star


Annual Percentage Yield (APY)

0.05%


Minimum Deposit Amount

$5

On DC Credit Union’s website


DC Credit Union Regular Savings Account

Details


Annual Percentage Yield (APY)

0.05%


Minimum Deposit Amount

$5

Pros & Cons
Chevron iconIt indicates an expandable section or menu, or sometimes previous / next navigation options.

Highlights
Chevron iconIt indicates an expandable section or menu, or sometimes previous / next navigation options.

Branch and ATM locations: 3 branches in Washington DC and part of the Co-Op Shared network.

Alternative identification forms you can use: As a Juntos Avanzamos designated credit union, you can open an account even if you don’t have a social security number. You can use a permanent resident card, foreign passport, or Matricula Consular as a photo ID. Plus, you’ll need to provide an ITIN number and proof of address if one of your IDs doesn’t include it. 

28. PAHO/WHO Credit Union

PAHO/WHO Federal Credit Union Regular Savings Account

3.75/5

A five pointed starA five pointed starA five pointed starA five pointed starA five pointed star


Annual Percentage Yield (APY)

0.10%


Minimum Deposit Amount

$5

PAHO/WHO Federal Credit Union Regular Savings Account

3.75/5

A five pointed starA five pointed starA five pointed starA five pointed starA five pointed star


Annual Percentage Yield (APY)

0.10%


Minimum Deposit Amount

$5

On PAHO/WHO Federal Credit Union’s website


PAHO/WHO Federal Credit Union Regular Savings Account

Details


Annual Percentage Yield (APY)

0.10%


Minimum Deposit Amount

$5

Pros & Cons
Chevron iconIt indicates an expandable section or menu, or sometimes previous / next navigation options.

Highlights
Chevron iconIt indicates an expandable section or menu, or sometimes previous / next navigation options.

Branch and ATM locations: 1 branch in Washington DC

Alternative identification forms you can use: As a Juntos Avanzamos designated credit union, you can open an account even if you don’t have a social security number. You can use a permanent resident card, foreign passport, or Matricula Consular as a photo ID. You’ll also have to fill out a W-8BEN form. 

Banking for people who aren’t US Citizens: FAQs

Yes, financial institutions may allow you to use an individual taxpayer identification number (ITIN) to open an bank account.

If you are not a US Citizen, look for financial institutions that will let you use a foreign ID or a consular ID as your primary form of identification. It may be helpful to visit your local consulate to see if it can tell you of any nearby financial institutions that provide services to immigrants or non-US citizens. 

Different banking institutions have specific requirements on what they accept as a form of ID. Some financial institutions let you use a Matricula consular or foreign passport as a primary photo ID if you don’t have a US ID. If you want to get a consular ID, you can go to your local consulate and apply for one. Many Latin American countries offer consular IDs to their citizens if they are living abroad, and it’s issued regardless of citizenship status.

Methodology: How were these banks and credit unions selected? 

We’ve included a mix of national banks and NCUA-designated minority depository institutions so that you can explore a variety of options and find a bank that is the best fit for you, depending on your needs or documentation.

We also wanted to provide a list of credit unions and banks that could help you regardless of where you live.

National banks mentioned on our list are also featured on our best banks guide. These banks tend to have larger branches and ATM networks, so you may be more likely to find one that’s closer to home. 

As for our credit unions, we selected ones that received a Juntos Avanzamos designation. Juntos Avanzamos is an initiative that’s committed to helping Hispanic and immigrant consumers find suitable financial products. To become a Juntos Avanzamos designated credit union, one of the requirements is to be able to accept alternative ID forms if you don’t have a US ID. 

What to know about Juntos Avanzamos designated credit unions

A Juntos Avanzamos designated credit union provides services for Hispanic and immigrant communities. To receive the designation, the institution has to fill out an application. Then it will be reviewed by the Selection Committee who will see whether the credit union aligns with the goals created by the initiative.

“We’re looking at a real commitment of the institution to serve this community,” said Pablo DeFilippi, executive vice president of the Inclusiv Network. “To get the designation, you need to make sure that your policies and your procedures are welcoming and would enable someone regardless of their immigration status to open an account and also access credit.”

The designation also looks at the number of bilingual and Hispanic staff and how it is involved with the local community.

While Juntos Avanzamos was created in 2005, the initiative has gone through some changes over the years. Originally the goal of the initiative was to educate Hispanic communities about different financial services available. However, the initiative now makes a greater effort to address systemic barriers in banking.

DeFilippi told Insider that one of the larger misconceptions that contributes to systemic barriers in banking is that Latinos need the same product. 

“We don’t need one product — there’s not a Latino product, we need all the products,” DeFilippi said. “That’s why we talk about financial inclusion. We don’t believe that serving our community is a product-driven solution, it needs to be a holistic approach about how do we empower Latinos and immigrants to access the tools that everybody else has access to.”

What to know about US banking if you’re not a US citizen

Everyone should have access to fair banking tools and services regardless of their citizenship or immigration status. Though your options largely depend on where you live, it isn’t an impossible feat. You do have options, but you’ll have to search for them.

Juntos Avanzamos designated credit unions are available in certain states and have small branches because they serve primarily underserved and local communities. Some national banks offer more flexible ID requirements, however, processes or customer experiences may vary at branch locations. 

DeFilippi advised remaining persistent while searching for financial products and services, even if you’re turned initially turned away.

“It takes courage to get out and approach a financial institution., but I think that is critical that we all do that,” said DeFilippi. “If someone says no to you, go someplace else.”

How to choose where to bank

Choosing where to bank will ultimately depend on your preferences. You may want to consider the following:

  • Location, branch, and ATM network: It’s important to know which banks are closest to your home. If you routinely travel, you may also want to look at which banks have a larger bank and ATM network. 
  • Account options: Banks don’t all have the same account options. Some banks may have a variety of savings accounts, checking accounts, money market accounts, and certificates of deposit. Others won’t. You’ll need to figure out which accounts you want, then compare the features between different banking products.
  • Monthly fees, overdraft fees, out-of-network ATM fees: Some banks will impose additional fees on your account for maintenance or overdrawing. If you want to avoid fees, you’ll want to see if an institution lets you waive these fees or doesn’t charge any.
  • Bank trustworthiness and online customer reviews: To see whether a bank is the right fit for you, it’s best to get the perspective of others and hear their perspectives. Some banks have also gone through some recent controversies. If you want to read through some of our reviews, we will include this information.
  • Bilingual services and customer service availability: If you need services in another language, some banks will provide separate phone numbers or accessibility features in another language. If you also prioritize customer service, you’ll want an institution with 24/7 support or a variety of customer service features.
  •  Involvement with the community: Some institutions attend or host local events in the community. Others may also set up scholarship programs for high school students or partner with local organizations. 

What are the benefits of opening up a bank account or using a bank?

According to a FDIC study conducted in 2021, 9.3% of Latinos remained unbanked. Two of the main reasons cited for not having a bank account were that the individuals weren’t able to meet the minimum balance requirement to open a bank account, and that they didn’t trust banks. 

Historically, Hispanic Americans have been affected by discriminatory lending practices that limited their opportunities for economic growth. However, these practices don’t apply to every financial institution, nor does it negate the important role banking plays in money management.

The FDIC and NCUA created programs for minority-owned depository institutions because these banks and credit unions provided services and products to underserved communities. Legislation such as the Community Reinvestment Act has also required banks and credit unions to provide services and products to these communities.

If you want to know whether a bank has gone through any public controversies involving specific communities or groups, our bank reviews will include such information to help you decide what your best options are.

DeFilippi also pointed out that many banking products and services are integral tools for managing personal finances. While some immigrant communities may be used to using cash as a primary way of managing money, the US requires different tools.

Bank accounts allow you to safely store your money in one place. When you bank with a financial institution that is FDIC or NCUA-insured, your account is protected for up to $250,000. 

Having a credit card and managing it properly allows individuals to build a credit history and credit score to drive future purchases. Putting money in a bank account or investing allows people to accumulate interest, which may help with creating a way to save efficiently. If you want to begin your own business, business accounts or small business loans can serve as important stepping stones for getting there.



Source link

We will be happy to hear your thoughts

Leave a reply

Love4shopping.com
Logo
Enable registration in settings - general
Shopping cart