Banking in the US as a Brit: opening an account

You can open a US bank account in your first week in New York, but the American system will treat you as if you've just been born, financially speaking.

The short version

You don't legally need a Social Security number (SSN) to open a US bank account. Some banks and credit unions accept a passport number and country of issue, or an ITIN [1][2].
Take your passport, your visa and I-94 record, proof of your New York address and, ideally, a letter from your employer.
Your UK credit history doesn't come with you. Expect a basic account first and a credit card later.
Keep at least one UK account open if your bank allows it, and tell it you've moved abroad.
Once you're US tax resident, you may have to report your UK accounts to the US Treasury on an FBAR if together they top $10,000 (about £7,420) [3].

Pound conversions in this guide use the Bank of England spot rate of 5 November 2026 (£1 = USD 1.3476).

How US banking differs from back home in Blighty

The big high street names you'll see on every Manhattan corner are national banks, regional banks and credit unions (member-owned, a bit like a building society). They all do roughly the same job, but a few things will feel odd.

	UK	New York
Everyday account	Current account	"Checking" account, plus a separate savings account
Monthly fees	Usually free	Often a monthly fee unless you keep a minimum balance or have your salary paid in
Paying a person	Faster Payments, sort code and account number	Zelle, or a routing number and account number
Paper cheques	Rare	Still used for rent, deposits and some bills
Deposit protection	FSCS, up to a set limit per person per bank	FDIC, $250,000 per depositor, per bank, per ownership category [4]
Credit history	Built over years in the UK	Starts at zero

The monthly fee is the one that catches Brits out. Read the fee schedule and see what waives it, usually direct deposit of your salary or a minimum daily balance. Credit unions and online banks often have fewer fees, but check that the one you choose is FDIC insured (or, for credit unions, NCUA insured).

What New York banks ask for

US banks have to verify who you are under federal anti-money-laundering rules, so the list is long but predictable.

Photo ID. Your British passport is the main one.
Your immigration documents. Your visa and your I-94 arrival record (download it from the CBP website after you land). A green card if you have one.
A taxpayer number, if you have one. An SSN, or an Individual Taxpayer Identification Number (ITIN). The Consumer Financial Protection Bureau is clear that you don't need an SSN to open a checking or savings account, and that some banks will take a passport number and country of issue instead [1].
Proof of a US address. A lease, a utility bill or a letter from your employer. A hotel or a short-term let can be a problem, so ask what the branch will accept.
A second form of ID, sometimes. A UK driving licence or a bank card can do.
An opening deposit, often small.

You'll also sign a tax form. If you're a US tax resident you give a W-9; if you're not (yet), a W-8BEN. The bank uses this to report interest to the IRS.

SSN or ITIN?

If you're in New York on a work visa, you can get an SSN. You apply online and then visit a Social Security office with your documents, and the card arrives by post in 5 to 10 business days after approval [5]. That number opens the door to almost everything: payroll, credit cards, a mobile contract and renting a flat.

An ITIN is a nine-digit number from the IRS for people who have a federal tax reason to file but aren't eligible for an SSN, such as a non-working spouse claimed on a joint return [2]. You apply on Form W-7, usually with your tax return. It doesn't give you the right to work, but many banks accept it as your ID number.

If you're waiting for your SSN, it's worth asking whether the bank will open the account on your passport now and add the SSN later. Many will. Being turned away by one branch doesn't mean the next will say no.

Opening the account, step by step

Choose a bank near work or home. In Manhattan and Brooklyn branches are everywhere, but opening in person on your first try is usually easier than online with a foreign passport.
Book an appointment if the branch offers it. Walk-ins can mean a long wait.
Bring the whole folder: passport, visa, I-94, lease or employer letter, SSN or ITIN if you have them.
Open a basic everyday account and a savings account together. Ask how to avoid the monthly fee.
Set up direct deposit with your employer's HR team using the routing and account numbers.
Order a debit card and set up Zelle in the app so you can pay your flatmate or landlord.
Ask about a secured credit card once the account is running (more below).

Credit: starting from scratch

Your UK credit file stays in the UK. A spotless Experian record in Manchester counts for nothing in Manhattan, and that matters, because landlords and mobile networks check your US credit report.

The usual route is:

a secured credit card, where you put down a deposit that becomes your limit
paying it in full every month, so a positive history builds
moving on to an ordinary card after six months to a year

If your UK bank or card issuer also operates in the US, ask before you leave whether your history with them can help with a first US card. Our guide to the Social Security number and US credit from scratch goes into the detail, and your UK credit file while you're away covers keeping things ticking over back home.

Keeping your UK bank account

Keep a UK account if you can. You'll need it for UK income such as rent, a pension or a refund from HMRC, for paying a UK credit card, and for the day you come home.

The catch is that some UK banks don't want customers who live abroad, and some specifically don't want US residents because of the extra reporting the US asks of them under FATCA. A few points:

Tell your bank you've moved. Hiding it can get the account closed later, and it can cause tax reporting problems.
Keep a UK mobile number for one-time passcodes. Our guide to keeping a UK mobile number and address for banks and HMRC explains the options.
Don't open new UK investments without checking the US tax side. ISAs and UK funds are taxed very differently once you're a US resident. See ISAs, UK pensions and PFICs: US tax traps for Brits.

Our wider guide to keeping a UK bank account when you live abroad sets out which kinds of account tend to stay open.

FBAR: reporting your UK accounts to the US

Once you count as a US person for tax, including a green card holder or someone who meets the IRS substantial presence test, you may have to file an FBAR (FinCEN Form 114). It's due if the combined value of your non-US accounts tops $10,000 (about £7,420) at any point in the calendar year [3]. That's all accounts added together, including a joint account and a dusty old savings account, and it's easy to cross the line.

FBAR is a report, not a tax, but the penalties for not filing can be steep. FATCA reporting on Form 8938 is a separate test with higher thresholds, filed with your tax return. If your partner is American, our sister site ExpatStateside explains FBAR reporting for foreign bank accounts from the US side. A tax adviser who knows both countries can check your situation.

Moving money from the UK

You'll probably need a lump sum early on for the deposit and broker's fee on a flat, before your first US pay packet arrives. The options:

A bank transfer (wire) from your UK bank. Simple, but check the fixed fee and, above all, the exchange rate margin, which is where the real cost often hides.
A specialist money transfer service. Often cheaper on the rate for larger sums. Compare a few on the same day for the same amount, and make sure the firm is authorised by the FCA in the UK.
A multi-currency account, which some Brits use to hold pounds and dollars side by side.

Avoid paying in pounds on a UK debit card for big US costs: foreign transaction fees and the conversion add up fast. Our guide to sending money between the UK and abroad compares the options in more detail.

Banks are cautious with large incoming wires from overseas, so warn your new bank before sending your house deposit, and keep the paperwork that shows where the money came from.

If you want to swap notes with others who've just been through it, our community group for Brits in the US is a good place to ask which branches have been helpful.

Banking in the US as a Brit: your first account, your UK account and moving money