Opening a US Bank Account from Europe: Trip, Documents, ITIN

Bank of America is one of the largest financial institutions in the world, giving millions of customers access to a broad range of banking products. For Europeans it is especially attractive because of its:

• International focus: The bank has experience with non-resident customers.

• Wide product range: Checking and savings accounts, credit cards, mortgages, investment solutions.

• Strong infrastructure: Debit card right at account opening, a modern app, worldwide acceptance.

• Flexible documents: In many cases Bank of America even accepts your home-country tax ID instead of an ITIN.

If you are serious about the USA (for business, as an investor or to build a Plan B), Bank of America is a bank that gives you the structures to do it.

One of the biggest misconceptions is that you can open a Bank of America account remotely. The facts:

• You must appear in person in the USA.

• The account is opened on site at a branch.

• Your best bet is a branch in an international city like New York, Miami, Los Angeles or Houston, where bankers are used to foreign customers.

💡 Tip: Combine the account opening with a US trip you're already planning. With your documents ready, the whole process at the branch often takes less than two hours.

To open a Bank of America account as a European, you need:

1. Passport: your main ID.

2. US address: a real residential address (no PO box, no purely virtual office).

3. Tax ID: you have two options:

   • Option A: ITIN (Individual Taxpayer Identification Number)
     Only an option if you already have one because of US income; the IRS issues it for tax purposes only. Our ITIN page explains what the number is about.

   • Option B: Home-country tax ID
     Accepted by Bank of America in many cases, but with significant limitations.

Many Europeans are surprised that Bank of America also accepts their home-country tax ID. But choosing this option has far-reaching consequences.

Opening an account with an ITIN

• ✅ Can serve as your tax number with US banks, if you have one.

• ✅ Some card issuers accept it instead of an SSN.

Opening an account with your home-country tax ID

• ✅ Account opening possible, even without an ITIN.

• ❌ No US credit score: you stay invisible in the US system.

• ❌ Automatic information exchange: Under reciprocal FATCA agreements, Bank of America reports your account directly to the tax authorities in your home country.

• ❌ Many US products (credit cards, financing) stay out of reach.

Bottom line: If you only need an account for transfers in the short term, your home-country tax ID will do.

Many Europeans believe FATCA only affects US citizens. That is a dangerous mistake.

An ITIN is not a tool for this: the IRS issues it for tax purposes only, not for a bank account or access to the US credit system.

Opening an account at Bank of America is fairly straightforward:

1. Book an appointment: ideally by phone or online before you travel.

2. Bring your documents: passport, tax ID (ITIN or home-country tax ID), US address.

3. Choose your account: for Europeans, Advantage Plus Banking® is usually the right checking account.

4. Open the account: hand in your documents and make the opening deposit.

5. Get your debit card: right away or by mail a few days later.

6. Activate online banking: available right after opening.

Bank of America offers several account types:

• Advantage SafeBalance Banking®: basic account, no overdraft, simple structure.

• Advantage Plus Banking®: standard checking account with debit card, overdraft option, app.

• Advantage Relationship Banking®: premium account for customers with higher balances.

For most European customers, Advantage Plus Banking® is the right place to start.

The IRS issues an ITIN for tax purposes only; you can't get one just to open an account or apply for a credit card. If you do have one, some card issuers accept it in place of an SSN, which can make building a US credit history easier.

Our US credit card page shows you how to get US credit cards even without an SSN. Your own US account, an ITIN and your first credit card, no LLC needed: that's our US Bank Account Opening.

With a US account and a growing credit history, you can later:

• 💳 Apply for rewards credit cards (the issuer decides on the card).

• 🧾 Build credit lines for your US LLC.

• 🏘 Apply for mortgages on US property.

• 📈 Document your creditworthiness for residence or visa options.

• ❌ Trying without traveling to the US in person: it doesn't work.

• ❌ Using a PO box: not accepted.

• ❌ Underestimating FATCA: your account becomes visible to the tax authorities in your home country.

Opening a Bank of America account as a European is possible, and easier than many people think, if you go about it the right way.

But two points are decisive:

1. You have to travel to the US in person.

2. The ITIN is a tax number, not a key to an account, a credit history or privacy; the IRS issues it for tax purposes only.

Bank of America does make it easy to open an account with a foreign tax ID. If you take that route, you should know that the bank reports the account to the tax authorities in your home country under FATCA.

1. Form a US LLC (via zerotax.llc).

2. Plan your trip to the US: book an appointment with Bank of America.

3. Open the account: with your passport, a US address and, if you have one, your ITIN.

4. Build your credit history: apply for a credit card, use it regularly and pay your bills on time.

👉 Want some help? Mount Bonnell Advisors supports you from forming your LLC all the way to your account application at a traditional US bank. That way you don't just get an account, you get a real financial plan B. Read how we set up banking for your US company under US Banking, and find related articles such as US credit score for immigrants anytime under News.

Consultation & implementation

If you'd like to find out what this means for your own situation, the best step is to book a consultation.