Wells Fargo offers a large network of branches, many ATMs, and a variety of financial products. Monthly fees on basic bank accounts can be easily waived, but savings rates tend to be low. If you have a high enough balance across eligible accounts, you could receive upgrades on interest rates (but they’re still lower than the national average). Wells Fargo may be a good fit if you’re looking for a large network of branches and ATM access is important to you.
Wells Fargo review for non-residents without SSN
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- Account: Everyday Checking.
- US residence required: Yes (though not necessarily primary residence).
- SSN/ITIN required: Only for US citizens.
- No minimum daily balance required - Outgoing int'l wire cost: $30 plus an additional 4%-10% (depending on the currency)
Yields on certificates of deposit and savings accounts are low, like many big banks.
There is an out-of-network ATM fee of $2.50 for checking account customers.
The money market account has a steeper monthly fee if a specified balance isn’t maintained.
Wells Fargo still charges a $35 fee for over-drafting your account on most of its checking accounts.
Wise review for non-residents without SSN
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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.
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.
- 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.