Editor’s Picks Banks in Delaware for Non-Residents in 2025

Editor’s Picks Banks in Delaware for Non-Residents in 2025

Opening a bank account in Delaware as a non-resident can be a strategic move due to the state's favorable banking laws and regulations. This article provides a comparative review of notable banks in Delaware, focusing on account types available, eligibility requirements, fees, and the overall account-opening process.

Quick Summary

Delaware offers a variety of banking options for non-residents, including traditional banks, credit unions, and digital banks. Some of the notable banks include:

- Bank of America
- Wells Fargo
- PNC Bank
- TD Bank

Each of these banks has unique offerings, account types, and fee structures, making it essential for non-residents to evaluate their options carefully.

Eligibility & Requirements

Eligibility requirements can vary significantly among banks, but typically, non-residents will need to provide:

- Identification: A valid passport or government-issued ID.
- Proof of Address: This can include utility bills, lease agreements, or bank statements.
- Tax Identification: An Individual Taxpayer Identification Number (ITIN) or Social Security Number (SSN) may be required.
- Initial Deposit: Most banks require an initial deposit to open an account, which can vary by account type.

It is advisable for non-residents to check with each bank for specific eligibility criteria and documentation required.

Step-by-Step Opening Process

The process for opening a bank account as a non-resident typically follows these steps:

1. Research: Review different banks and their account types to find one that fits your needs.
2. Gather Documentation: Collect necessary identification and proof of address.
3. Visit a Bank Branch: While some banks allow online applications, many require non-residents to visit a branch in person.
4. Complete Application: Fill out the bank's application form, providing all required information.
5. Make Initial Deposit: Fund your new account with the required initial deposit.
6. Receive Account Details: Once approved, you will receive your account number and any associated debit cards or checks.

Typical Fees & Timelines

The fees associated with bank accounts can vary widely based on the institution and account type. Below are typical fee ranges for common accounts:

- Monthly Maintenance Fees: $0 - $30, depending on the account type and balance requirements.
- ATM Fees: $0 - $5 per transaction for out-of-network ATMs.
- Overdraft Fees: $25 - $40 per occurrence.
- Wire Transfer Fees: $15 - $50 for domestic transfers; international transfers may incur higher fees.

Timelines for account opening can vary, but most banks can process applications within 1 to 5 business days, provided all documentation is in order. It is crucial to verify these fees with the bank’s official resources, as they can change.

Alternatives & Digital Banks

In addition to traditional banks, non-residents may consider digital banks, which often provide lower fees and more flexible account management options. Some notable digital banks include:

- Chime
- Revolut
- N26

These banks typically offer features such as no monthly fees, free ATM access, and user-friendly mobile applications. However, non-residents should review their eligibility criteria, as not all digital banks may accept non-resident applications.

FAQs

1. Can non-residents open a bank account in Delaware?

Yes, non-residents can open bank accounts in Delaware, but they must meet specific eligibility requirements set by each bank.

2. What documents are needed to open an account?

Typically, non-residents need a valid ID, proof of address, and a tax identification number (ITIN or SSN).

3. Are there any fees associated with bank accounts in Delaware?

Yes, fees vary by bank and account type. Common fees include monthly maintenance fees, ATM fees, and overdraft fees.

4. How long does it take to open a bank account?

The account opening process usually takes 1 to 5 business days, depending on the bank and the completeness of your documentation.

5. Can I open an account online as a non-resident?

While some banks allow online applications, many require non-residents to visit a branch in person.

6. Are there better options than traditional banks for non-residents?

Digital banks often offer lower fees and more flexible services, but it’s essential to review their eligibility criteria for non-residents.

7. What is the minimum deposit required to open an account?

Minimum deposit requirements can range from $0 to several hundred dollars, depending on the bank and account type.

8. How can I find specific fees and account details?

The best way to find specific fees and account details is to visit the bank’s official website or contact their customer service.

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Disclaimer: For informational purposes only; not financial/tax/legal advice.

About the Author

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