Lakay Finance / Banking

Best Bank Accounts for Immigrants

Open a bank account in America -- even without an SSN. No minimum balance. No hidden fees. Send money home for less.

Digital Banks -- Best for Immigrants

These banks are designed for newcomers. Open an account in minutes from your phone.

Built for Immigrants Cheap Remittances

MAJORITY

The bank built for migrants
Open Account
Designed specifically for immigrants. Send money to 30+ countries at the best rates. Free international calls. Accepts passport and foreign ID to open.
Monthly Fee
$5.99/month
SSN Required
No
Remittances
Low-cost to 30+ countries
ID Needed
Passport or foreign ID
No Fees Most Popular

Chime

Banking with no hidden fees
Open Account
No monthly fees, no minimum balance, no overdraft fees. Get paid up to 2 days early with direct deposit. 60,000+ free ATMs. Pair with their Credit Builder card to build credit.
Monthly Fee
$0
Early Pay
Up to 2 days early
Free ATMs
60,000+
Credit Builder
Yes (separate card)
ITIN Accepted Global Transfers

Wise (formerly TransferWise)

Multi-currency account
Open Account
Hold and convert 40+ currencies at the real exchange rate. Send money internationally for the lowest fees. Get a debit card that works worldwide. Perfect for people who send money home regularly.
Monthly Fee
$0
Currencies
40+
Exchange Rate
Real mid-market rate
Transfer Fee
From 0.41%

Which Account Should You Open First?

If you send money home regularly, start with MAJORITY or Wise -- they save you hundreds per year on remittance fees. For everyday banking with no fees, Chime is the best choice and pairs perfectly with their Credit Builder card. Many immigrants open 2 accounts: one for daily spending (Chime) and one for international transfers (Wise or MAJORITY).

Quick Comparison

Feature MAJORITY Chime Wise
No SSN Required Yes SSN needed ITIN OK
Monthly Fee $5.99 $0 $0
International Transfers 30+ countries No 40+ currencies
Debit Card Yes Yes Yes
Credit Building No Credit Builder card No
Early Direct Deposit No 2 days early No
Best For Sending money home Daily banking + credit Multi-currency + transfers

Need Help Getting Started?

Our team can help you set up your first bank account in America and start building your financial life.

Call (844) 200-8027
Disclosure: Lakay Finance may receive compensation from banking partners featured on this page when you open an account through our links. This does not affect our recommendations. Account terms, fees, and features are determined by each bank and may change. Lakay Finance does not guarantee account approval. Always review the full terms from each bank before opening an account. Lakay Finance is operated by JRICKSS Financial Services LLC.