Owning a GBP or USD account as a non-resident helps you manage international payments without hassle and save in relatively stable currencies. You also get to avoid money losses through frequent currency conversions. However, opening a bank account as a non-resident in the UK or the USA isn’t always a walk in the park. It can be challenging due to strict documentation and residency requirements.

With emerging digital payment platforms and a few traditional banks, opening UK and US bank accounts is now relatively easy. So, if you are a frequent traveller, an international student paying fees, or a freelancer working with international clients, here is a look at the best options available.

Also read: The best international bank accounts for freelancers and remote workers

Key considerations before choosing a bank as a non-resident

Before we dive into the list, here are some factors to consider before selecting a bank as a non-resident.

• Documentation: The requirements for opening a UK or US bank account vary widely. Some banks require a passport, proof of address, and tax identification, while others need more.
• Fees: Look out for maintenance fees, ATM fees, and currency conversion costs.
• Remote access: Consider whether the bank offers full-service mobile apps or international support.
• Purpose: The purpose of opening the account should inform your choice. For instance, if you are a frequent shopper, you need a bank that offers a functional debit card.
• Ease of setup: Fintechs like Grey or Wise allow fast onboarding, while traditional banks may take longer.

Best banks for non-residents to open accounts in the UK and the USA

Here is a list of the best banks for non-residents to open accounts in both the UK and the USA. These platforms allow you to hold multiple currencies on the same account.

Grey (Recommended)

Grey is a fintech platform that enables users to open virtual foreign bank accounts in the US, UK, and EU. It is designed especially for freelancers, remote workers, and digital nomads from emerging markets who need access to international banking without physically relocating.

Grey offers:

• Virtual USD, GBP, and EUR accounts
• Instant currency conversion
• Local bank details for receiving payments
• Easy integration with platforms like Payoneer and Wise

Grey stands out for its ease of access, especially for users outside the US and UK. It bypasses many hurdles faced when dealing with traditional banks.

Revolut

Revolut is an emerging payment solution that supports dozens of currencies, including USD and GBP. It offers real-time spending notifications and includes perks like travel insurance and fee-free currency exchange.

HSBC Expat

HSBC Expat is a financial services provider, a division of HSBC Bank (Singapore) Limited, that specialises in serving the financial needs of individuals living and working abroad. It offers a range of products and services tailored to this demographic's unique requirements, including multi-currency bank accounts, savings accounts, and international money transfers. It supports multiple currencies and includes access to international investment services. However, a high minimum deposit is required.

Wise

Wise provides local account details in multiple countries, supports over 40 currencies, and makes international transfers fast and affordable.

The best UK banks for non-residents

While digital banks offer convenience, some non-residents value traditional banks for their credibility, global infrastructure, and broader financial services. Here are the top conventional banks and digital payment platforms offering GBP accounts to non-UK residents.

Barclays International

Barclays offers international banking packages for clients outside the UK, including expats and global investors. While the setup is more complicated, it provides robust support for long-term financial planning.

Lloyds International

Lloyds offers sterling-denominated accounts for non-residents who meet their eligibility criteria. It’s a solid option for those with ties to the UK or planning to relocate eventually.

Monese

Monese is a digital banking service that allows non-residents to open accounts without a UK address. Accounts are available in GBP, EUR, and RON. Users enjoy quick account setup via a mobile app with no credit checks required.

Starling Bank

Starling is a UK-based digital bank offering personal and business accounts with features like real-time notifications and budgeting tools. Typically, it requires a UK address. However, some services may be accessible to non-residents depending on individual circumstances.

The best US banks for non-residents

Here is a list of traditional banks and fintech solutions that make opening a US bank account easier while living outside the US.

Zenus Bank

Zenus is a digital bank that provides a wide range of financial services, particularly targeting customers who want to use US banking without being US citizens or residents. It offers US bank accounts, Visa cards, and digital banking solutions, allowing customers to manage their finances remotely through mobile apps and online banking

Citibank International

Citibank’s global reach makes it easier for high-net-worth individuals and globally connected clients to manage cross-border finances. Eligibility often includes proof of income, assets, or global residency.

Bank of America / Wells Fargo

The Bank of America and Wells Fargo occasionally allow non-residents to open accounts with alternative documentation like an ITIN or foreign passport — typically in-branch and on a case-by-case basis.

Also read: How non-U.S. residents can open accounts at Chase, Wells Fargo, and Bank of America

Why Grey is the ideal international bank for non-residents

Grey is a digital banking platform tailored for non-residents needing access to UK and USA banking services. Here’s why Grey stands out:

• Multi-currency accounts: Open virtual accounts in USD, GBP, and EUR, facilitating seamless international transactions.
• No residency requirement: Unlike traditional banks, Grey doesn’t require proof of residency, making it accessible for non-residents.
• Competitive fees: Enjoy low fees for currency conversion and international transfers with no hidden charges.
• User-friendly platform: Manage your finances through an intuitive online platform, ideal for remote access.
• Versatile USD debit card: Grey provides a digital USD debit card that makes international payments more flexible.

Sign up with Grey today and experience hassle-free international banking tailored for non-residents.

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