TD Bank vs Wise for non residents

By Rohan Smith, 16 December, 2022

TD Bank review for non-residents without SSN

Bank
TD Bank
SSN Required?
For Residents
ITIN Required?
No
Can Apply Online?
With SSN
Summary

TD Bank provides Simple, Convenience, and Beyond checking accounts that differ in perks, monthly fees, interest, and sign-up bonuses. TD Bank checking accounts give customers access to a large East Coast-based network of branches and ATMs. There’s either a minimum daily balance requirement or a monthly fee for checking with TD Bank’s three general options. Accounts are available in Connecticut, Delaware, Florida, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, North Carolina, Pennsylvania, Rhode Island, South Carolina, Vermont, Virginia, and Washington, D.C.

Features
  • Low minimum daily balance requirement—plus, great discounts.
  • No monthly maintenance fee with a $100 minimum daily balance, plus great discounts.
  • Free incoming wires and reimbursement for 1 outgoing wire (domestic or international) per statement cycle.
  • No ATM fees with a $2,500 minimum daily balance.
  • $0 Minimum opening deposit.
  • Online & Mobile Banking.
Cons
  • Monthly fee.
Link
https://www.td.com/us/en/personal-banking

Wise review for non-residents without SSN

Bank
Wise
SSN Required?
No
ITIN Required?
No
Can Apply Online?
Yes
Summary

Wise isn't a bank in the US but a money transfer operator that's well-known for offering some of the cheapest international transfers globally. However, in addition to money transfers, Wise also offers a Multi-Currency Account, a low-cost foreign currency spending account, and a Visa debit card.

Features

Even without a US residence, the Wise Account gives you US checking details.

  • A debit card to spend in 50+ currencies, including US dollars.
  • You can use this account to get paid by employers in US dollars. - Send money domestically within the US.
  • The Wise debit card is accepted worldwide.
  • Local bank details are not just in the US, but also in the UK, EU, Australia, New Zealand, Singapore, Romania, Canada, and Hungary.
Cons
  • The fee to receive wire transfers (domestic and international) is $7.50 per transaction.
  • Incoming payments can only be in US dollars, no other currency will be accepted.
  • Incoming domestic transfers take 2 to 3 working days to arrive in the account, while international transfers take 4 to 5 days.
  • You can't yet set up a direct debit.
Link
Apply Now!
Neobank?
Yes