Wise vs Globalfy for non residents

By Rohan Smith, 16 December, 2022

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

Globalfy review for non-residents without SSN

Bank
Globalfy
SSN Required?
No
ITIN Required?
No
Can Apply Online?
With EIN
Summary

Globalfy operates on a global level, providing banking services to customers all around the world. It allows you to open a US bank account online without having to visit any physical branch or contact any rep.

Features
  • Takes less than 24 hours during working days for bank account applications to be approved by Globalfy.
  • No initial deposit or minimum initial balance. - account can be opened online, and you won’t have to worry about delays in payments or deposits.
  • Globalfy Visa debit cards carry no fees to the users and can be swiped in more than 50 million businesses around the world.
  • SSN is not Required.
  • FDIC-Insured.
Link
Apply Now!