U.S. Savings Accounts for International Residents
Learn how to open a savings account as a foreign U.S. resident
Whether you're in the U.S. on a work visa, studying abroad or a recent immigrant, you may not be ready to apply for citizenship, but you still need somewhere to deposit your savings. U.S. savings accounts are not just limited to citizens; they are also available to those who can prove residency in the United States. To open a U.S. savings account, you will need to visit a Citizens Bank branch in person and provide personal identification as well as proof of a current, permanent address.
Consider obtaining a Social Security Number to open a U.S. savings account
In order to work in the United States, you will need a Social Security Number (SSN) or International Tax Identification Number (ITIN), which you can get from the Department of Homeland Security. Either of these can serve as a form of identification when opening a U.S. savings account, but an SSN may be more beneficial if you plan to stay in the country for an extended period of time or eventually apply for citizenship. In that case, begin applying for a SSN as soon as you enter the country as it could take a month or so to be approved. If you're here on a work visa, talk to your employer for assistance throughout the process.
Build a relationship with your bank
When you first apply for a U.S. savings account, you'll need to show the bank your permanent address in the United States. You'll also need to produce your SSN or ITIN and one of the following forms of identification:
- United States Visa
- United States driver's license
- United States state identification card
If you do not have an SSN, you will need a passport from your country of origin and a completed W-8 form.
All of this information is necessary to prove your identity and your residency before the bank is allowed to help you open a savings account. It's also helpful to develop a personal relationship with your banker, so he or she understands your banking needs. This way, the banker can help you choose savings account options that make sense for your situation.
Citizens Bank savings account options for non-citizen residents
Citizens Bank has several savings account options and international banking services available to you while you're in the United States. Choose from money market accounts and certificates of deposit that help you earn more in a shorter period of time or standard U.S. savings accounts that will help you start your savings. Learn how to open a savings account by calling a Citizens Bank representative at 1-877-360-2472 or stopping by a local branch today.