Best Banks in Florida for Non-Residents in 2025

Best Banks in Florida for Non-Residents in 2025

Florida is a popular destination for tourists, expatriates, and non-residents seeking to manage their finances in the U.S. Whether you’re looking to invest, save, or conduct business, understanding the best banking options available can be crucial. In this article, we will review some of the best banks in Florida for non-residents in 2025, highlighting account types, pros and cons, and typical fees.

Quick Summary

When considering banks in Florida for non-residents, the following options stand out:

1. Bank of America
- Account Types: Checking, Savings, and Investment accounts.
- Pros: Extensive ATM network, online banking features, and international services.
- Cons: Monthly fees can be high if minimum balances are not maintained.

2. Chase Bank
- Account Types: Checking, Savings, and Business accounts.
- Pros: Robust mobile app, numerous branches, and comprehensive services.
- Cons: High fees for some accounts and limited international customer support.

3. Wells Fargo
- Account Types: Checking and Savings accounts, as well as investment options.
- Pros: Large branch network, various account options, and good customer service.
- Cons: Fees for non-residents can be higher compared to residents.

4. TD Bank
- Account Types: Checking, Savings, and Money Market accounts.
- Pros: Low minimum balance requirements and good customer service.
- Cons: Limited international reach and fewer branches outside the East Coast.

5. Capital One
- Account Types: Checking and Savings accounts.
- Pros: No monthly fees on many accounts and user-friendly online banking.
- Cons: Fewer physical branches in Florida.

Eligibility & Requirements

Eligibility requirements for non-residents to open a bank account in Florida can vary by institution. Generally, you will need:

- Identification: A passport or government-issued ID.
- Proof of Address: This can be an international address; some banks may require a utility bill or lease agreement.
- Tax Identification Number: Some banks may require a U.S. Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN).
- Initial Deposit: Most banks require a minimum deposit to open an account.

It’s advisable to check with individual banks for specific requirements, as they can differ significantly.

Step-by-Step Opening Process

Opening a bank account as a non-resident typically involves the following steps:

1. Research: Compare different banks and account types based on fees, services, and accessibility.
2. Gather Documentation: Collect necessary identification and proof of address.
3. Visit the Bank or Apply Online: While some banks allow online applications, others may require an in-person visit.
4. Complete Application: Fill out the application form with personal details.
5. Make Initial Deposit: Fund the account with the required minimum deposit.
6. Receive Account Information: Once approved, you will receive account details, debit cards, and online banking access.

Typical Fees & Timelines

Typical fees associated with non-resident bank accounts in Florida can include:

- Monthly Maintenance Fees: These can range from $5 to $25, depending on the account type and balance requirements.
- ATM Fees: Non-network ATM transactions may incur fees ranging from $2 to $5 per transaction.
- Wire Transfer Fees: Incoming and outgoing wire transfers can cost between $10 and $45, depending on the bank.
- Overdraft Fees: If you overdraw your account, fees can range from $30 to $35 per transaction.

Timelines for opening an account can vary. Most banks can approve applications within a few business days, while some may take up to two weeks, especially if additional documentation is required.

Alternatives & Digital Banks

For non-residents looking for more flexible banking solutions, consider digital banks and online banking options:

- Revolut: A digital banking alternative that offers international accounts without the need for a U.S. residency.
- Wise (formerly TransferWise): Provides multi-currency accounts with low fees for international transactions.
- Chime: An online bank that offers fee-free checking and savings accounts, although it may have limited international services.

These alternatives often come with lower fees and user-friendly mobile applications, making them ideal for tech-savvy non-residents.

FAQs

1. Can non-residents open a bank account in Florida?
Yes, non-residents can open bank accounts in Florida, but they need to provide specific documentation.

2. What identification is needed to open a bank account?
Typically, a passport or government-issued ID is required, along with proof of address.

3. Are there any special fees for non-residents?
Some banks may charge higher fees for non-residents, so it’s essential to review the fee structure.

4. Can I open an account online?
Many banks offer online account opening options, but some may require an in-person visit.

5. What is the minimum deposit required?
Minimum deposits vary by bank and account type, generally ranging from $25 to $100.

6. Are there any digital banking options for non-residents?
Yes, digital banks like Revolut and Wise offer convenient banking solutions for non-residents.

7. How long does it take to open a bank account?
Account approval can take anywhere from a few days to two weeks, depending on the bank's requirements.

8. Can I access my account from outside the U.S.?
Most banks offer online banking services that allow you to access your account from anywhere.

Conclusion

Choosing the right bank in Florida as a non-resident involves understanding the options available, the associated fees, and the specific eligibility requirements. By conducting thorough research and comparing institutions, you can find a banking solution that meets your financial needs in 2025.

Disclaimer: For informational purposes only; not financial advice.

About the Author

Marks Toms – Editor-in-Chief
Marks oversees editorial policy, compliance, and fact-checking at bankaccountsopen. Read more articles