Best USD accounts in the US for expats

For many foreigners living in the US, having a USD account is essential, allowing you to get paid, send money home, and confidently spend while avoiding unnecessary exchange fees. 

Banks can be an option, but they might often come with strict requirements and higher costs. Multi-currency accounts, like Wise, give you a flexible alternative by letting you hold USD alongside 40+ other currencies with no minimum balance requirement and low fees.

This guide walks you through the different ways to open and use a USD account in the US, so you can choose the option that works best for you.

What is a USD currency account?

A USD account is a bank or online account that lets you hold and spend money in US dollars

Depending on the provider, you may also get access to a linked debit card, checkbook, or international transfer services. Some accounts also include multi-currency features so you can hold and exchange other currencies, while a few also offer interest on your USD balance.

What can you do with a USD account in the US?

A USD account can be a real help if you’re living, studying, or working in the US. Instead of paying extra fees every time you move money, you can manage your funds more easily and avoid unnecessary costs.

While each USD account will have its own features, here are some of the most common uses for a US dollar account:

• Hold and manage USD balances: Keep money in USD without being forced to convert it into another currency. That way, you can save for future expenses or travel without losing out to exchange fees.
• Receive payments in USD: Get paid by employers, clients, or family and friends abroad directly in dollars. Some accounts, such as the Wise multi-currency account, even give you local account details so the sender can make a cheaper, faster local payment.
• Send payments in USD: Pay bills, rent, tuition, or mortgages directly in dollars. Many banks and specialist accounts let you set up recurring payments for ongoing commitments.
• Spend and withdraw in USD: Some accounts come with a debit card so you can shop or withdraw in USD both in the US and abroad. Wise, for example, offers the Wise Multi-Currency Card that lets you spend in 150+ countries and connect to Apple Pay and Google Wallet for added convenience. 

Types of USD accounts

For those living in the US, there’s no shortage of USD accounts to choose from. Some accounts are designed only for holding USD, while others let you manage multiple currencies in one place. Depending on your needs, you might choose a flexible digital provider or a bank account that focuses solely on US-based transactions. Here are the main types of USD accounts available: 

Multi-currency accounts

Multi-currency accounts let you hold USD alongside other currencies, often with tools to send, receive, and convert money internationally. They’re flexible, especially for expats or people with global financial needs.

• Wise Account: Hold 40+ currencies, get local account details for receiving 8+ currencies including USD, and receive 20+ currencies with SWIFT details, all with no monthly fee or minimum balance.
• Revolut: Hold and exchange money in over 30 currencies, including USD, with options for transfers, debit card payments, and international spending.

Foreign currency accounts

Some providers offer foreign currency accounts that focus only on USD. These may include features like checkbooks, interest on balances, or lower fees for specific transactions.

• HSBC Global Money Account and Expat Bank Account: Offers USD accounts with tools for global transfers.

Bank accounts based in the US

As USD is the local currency, you can also open a standard checking account directly with a US bank. Some banks make the process easier for non-residents, especially students or newcomers.

• Chase Total Checking: A popular account option that can be opened by non-citizens with the right documentation, offering online banking and debit card access.
• Bank of America Advantage Banking: Checking accounts available to US residents, international students, and non-US citizens with valid ID, proof of US address, and an SSN or ITIN

Best USD currency accounts in the US

In the US, any checking account is denominated in dollars, but expats often look for extra features like low-cost international spending or the ability to hold multiple currencies. You can choose between large banks with extensive branch networks or specialist digital providers designed for global use. 

Banks such as Chase and Bank of America offer straightforward USD checking, usually with debit cards, ATM access and all the services you’d expect from a major bank.

Digital providers like Wise and Revolut, on the other hand, focus on flexibility. They allow you to hold USD alongside other currencies, convert at competitive rates, and spend worldwide using a linked card. Some accounts also pay interest on balances, while others keep costs low for frequent international transfers.

We selected the following providers based on supported currencies, ease of use, account pricing, and availability for those who are new to the US or non-residents. Each option has its own strengths, and some accounts are better for saving and earning interest, while others are made for managing money across borders.

	💡 At a glance
Wise Account	Hold and convert 40+ currencies (including USD), receive money from abroad with account details, spend with linked the Wise Multi-Currency Card.
Revolut Account	Hold 25+ currencies including USD, with some no-fee currency exchange up to 1,000 USD per month during market hours and a prepaid debit card for international spending.
Chase Total Checking	USD checking with debit card and online access. There’s a 15 USD monthly fee that’s waived with a minimum balance or direct deposits.
Bank of America Advantage Accounts	Everyday checking available in three tiers, with monthly fees ranging from 4.95 USD–25 USD. Includes online and mobile banking, debit card access, and multilingual support.
HSBC Global Money Account	Multi-currency account linked to HSBC Premier, supporting 8 currencies and offering competitive exchange rates.

Wise account

The Wise multi-currency account lets you hold USD alongside 40+ other currencies, all in one place. You get local account details for USD, making it easy to receive US dollar payments conveniently.

Conversions are done at the mid-market exchange rate with low, transparent fees, and you can order a Wise Multi-Currency Card to spend in 150+ countries. Accounts are free to open, with no minimum balance, making them ideal for expats and internationals managing money across borders.

• Hold and exchange USD and 40+ other currencies
• Local USD account details to receive US dollars conveniently (ACH payments are free to receive, USD wires and SWIFT payments have a small fixed fee)
• Use your Wise Multi-Currency Card to spend or withdraw money in 150+ countries

Account opening fee: None for personal customers, but business accounts have a one-time fee of 31 USD to access all features. 

Eligibility criteria: Available to residents in the US and many other countries worldwide.

Supported currencies: USD and 40+ currencies for hold & exchange, 20+ currencies for account details.

Monthly fees: No monthly or annual fees.

Exchange rates: Mid-market rate with low, transparent fees starting from 0.57%.

Revolut Account

Revolut offers a multi-currency account available in the US with support for 25+ currencies including USD, EUR, and GBP. Standard plans have no monthly fee and include no-fee foreign exchange up to 1,000 USD per month during market hours. Above that, a 0.5% fair usage fee applies. Premium and Metal plans remove this cap, and all plans add a 1% fee for exchanges outside FX market hours.

You’ll receive a US routing and account number for USD deposits, and a debit card for spending in any country where Visa or Mastercard are supported. Revolut also includes budgeting tools, instant notifications, and free person-to-person transfers, though all services are app-only with no branch access.

• Hold and exchange 25+ currencies including USD, EUR, GBP
• No monthly fee on Standard plans and no-fee foreign exchange fee up to 1,000 USD per month (during market hours)
• Global debit card with contactless payments and ATM withdrawals

Account opening fee: None.Eligibility criteria: US residents with valid ID.Supported currencies: 25+ including USD, EUR, GBP.Monthly fees: None for Standard; Premium Plans cost 9.99 USD per month and Metal plans cost 16.99 USD per month.Exchange rates: Interbank rates with no markup up to limits. Foreign exchange fees apply after 1,000 USD on Standard plans.

Chase Total Checking Account

Chase offers a widely accessible USD checking account, popular with newcomers and internationals. There’s no minimum opening deposit, and the 15 USD monthly fee can be waived by maintaining a 1,500 USD balance or setting up electronic deposits totaling 500 USD or more. Customers get a Visa debit card, access to over 15,000 ATMs, and a large branch network across the US. It’s a straightforward option for everyday USD banking, though foreign card transactions may carry additional costs.

• Large branch and ATM network nationwide
• No opening deposit required
• Monthly fee waivable with qualifying balance or direct deposit

Account opening fee: None.Eligibility criteria: US citizens and non-US citizens residing in the USSupported currencies: USD only.Monthly fees: Waivable 15 USD.Exchange rates: Chase’s own rates, typically including a markup.

Bank of America Advantage Banking

Bank of America Advantage Banking is a flexible checking account available to a wide range of customers, including professionals and international students. Accounts can usually be opened in-branch with valid ID and SSN/ITIN. Monthly fees range from 4.95 USD to 25 USD depending on the tier, though many fees can be waived by meeting balance or deposit requirements.

Customers benefit from multilingual support, extensive online and mobile banking, and a debit card for US and international use, although international card transactions can attract a foreign transaction fee.

• Accessible accounts for students and international professionals living in the US
• Multilingual support and digital banking tools
• Partner ATM network helps reduce foreign withdrawal fees

Account opening fee: None.Eligibility criteria: US residents, international students and newcomers with valid ID.Supported currencies: USD only.Monthly fees: 4.95 USD to 25 USD depending on the tier (often waivable).Exchange rates: Bank of America rates, with a currency conversion markup.

HSBC Global Money Account

HSBC’s Global Money Account is available to HSBC Premier customers in the US, providing a multi-currency wallet where you can hold and exchange up to 8 currencies, including USD, EUR, and GBP. 

Transfers between currencies are done at live FX rates with no HSBC fees, and payments can be made globally. Customers can send up to 250,000 USD daily to over 200 countries and instant payments up to 50,000 USD to HSBC accounts. 

• Multi-currency account supporting 8 major currencies
• No HSBC fees for transfers or maintenance
• Linked with HSBC Premier checking for global access

Account opening fee: None, but requires an HSBC Premier checking account.Eligibility criteria: HSBC Premier customers (higher balance or deposit requirements apply).Supported currencies: 8 including USD, EUR, and GBP.Monthly fees: None (Premier account fees may apply).Exchange rates: Competitive live FX rates that are refreshed frequently, but a markup on the exchange rate is likely applied.

Fees for USD accounts in the US

The way banks and providers charge for USD accounts in the US can vary quite a bit. Some accounts are free to open and maintain, while others come with monthly service charges or transaction fees. Understanding the common fees upfront helps you avoid surprises and pick an account that actually fits your lifestyle.

Here are some fees to watch out for: 

• Account opening fee: Most US banks like Chase and Bank of America don’t charge to open a checking account, though you may need to provide an initial deposit. Providers like Wise and Revolut also have no opening fees, which makes them simple to get started with.
• Monthly maintenance fee: Banks often charge anywhere from 5 USD–25 USD per month, though you can usually waive the fee with direct deposits or a set minimum balance. Some digital providers, such as Wise, don’t charge monthly fees, which is attractive if you want to keep costs low and predictable.
• ATM withdrawal fees: With a bank-issued debit card, you’ll usually pay nothing at your bank’s ATMs, but out-of-network withdrawals often charge a fee per transaction. International ATM withdrawals can be even more expensive. Wise offers two free withdrawals (up to 100 USD in total) each month to help you lower your transaction costs.
• Foreign transaction fees: Many US bank debit cards add around 3% on purchases made abroad or in another currency, which can easily add up. Accounts like Wise avoid this fee by letting you spend directly in the currencies you hold and converting at the mid-market exchange rate.
• Wire transfer fees: Domestic wires cost around 15 USD at major banks, and international wires can reach 25 USD – 50 USD or more. On top of that, exchange rate markups make sending money abroad more expensive. Providers like Wise offer the mid-market exchange rate for currency conversion.
• Overdraft fees: US banks are known for charging overdraft fees each time you spend more than you have in your account. Digital providers like Wise and Revolut don’t support overdrafts at all, meaning you’ll only ever spend what’s in your balance.

How to open a USD account in the US as a foreigner

Opening a USD account in the US is usually straightforward, although the process can vary slightly depending on the provider you choose. Most accounts require some basic documents for identity verification, but the steps are often similar across banks and digital providers.

Before you begin, it’s worth checking the eligibility rules. Most banks ask for proof of identity, proof of address, and a Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN). Some providers, like Wise, make the process simpler by allowing expats to open and verify an account entirely online with ID and proof of address from a supported country.

With banks:Opening an account with a US bank often means visiting a branch in person. You’ll typically need to bring your passport, visa or immigration documents, proof of your US address, and your SSN or ITIN. Some banks may also ask for an initial deposit. Once your documents are reviewed, you’ll be guided through the setup process by a banker.

With online providers:Specialist providers such as Wise let you complete the entire process digitally. After downloading the app or visiting the website, you’ll be prompted to upload your ID and proof of address. Verification is often quick (usually within 1 working day), and once approved, you can start holding and managing USD right away. Many of these accounts also come with multi-currency features, making them flexible for those with international lifestyles.

How to open a USD account before you move to the US

Some expats prefer to set up a USD account before arriving in the US, so they can transfer money, pay deposits, or receive income immediately upon arrival. This is especially useful for international students preparing for tuition payments, or professionals moving for work who want to manage housing costs in advance.

With banks:It’s generally harder to open a local bank account before moving if you’re not yet a US resident. Some banks offer non-resident accounts, but the options are limited and often come with strict eligibility criteria such as higher minimum deposits or a US-based co-signer. You may also need to apply in person once you arrive, which can delay access to your funds.

With online providers:Digital providers like Wise offer more flexibility. If you live in a country where Wise supports account openings, you can set up your Wise Account before moving, allowing you to hold USD, receive payments with local US account details, and manage your money as soon as you land. Wise supports residents in many countries globally, so you can check the full list of eligible countries on the Wise Help Center.

How to use your USD account in the US

Now that you’re closer to finding your USD account, you’ll need to know how to manage your US dollar payments and transactions to make the most of it in everyday life. 

Here are some of the most common ways you can use a USD account in the US:

• Receive payments like a local: Get paid in USD by employers, clients, or family abroad. With Wise, you even receive USD account details, so sender can pay you via domestic transfer.
• Send money internationally: Move money between your US account and accounts overseas, either for family support or personal expenses. 
• Hold and exchange currencies: Keep USD alongside other currencies if you choose a multi-currency account. Hold up to 8 currencies with the HSBC Global Money Account, or 40+ currencies with Wise.
• Spend with a debit card: Most USD accounts include a linked card for purchases and ATM withdrawals. Wise also lets you use the Wise Multi-Currency Card in over 150 countries with no foreign transaction fees.
• Pay bills and subscriptions: Set up direct debits or recurring payments for rent, utilities, or services in USD to make managing your day-to-day costs easier.
• Budget and track your money: Many accounts offer app tools to monitor your spending, categorise transactions, and keep your finances on track.

Conclusion

Finding the right USD account in the US can make your financial life much simpler, whether you are just arriving or settling in for the long term to work or study.

The best choice really depends on your needs. Banks may suit you if you want in-branch services or interest on savings, while online providers like Wise give you the flexibility of holding and exchanging multiple currencies with clear, low fees.

Think about how you want to use your account, such as receiving payments, paying bills, sending money abroad, or saving, and choose the option that matches your lifestyle and residency status.

If flexibility and transparency are what you’re after, the Wise Account is a great place to start. You can open it online, hold USD alongside 40+ other currencies, receive payments with local account details, and spend worldwide with no hidden exchange rate markups.

Open a Wise Account today and make managing your USD simple.

Useful resources:

• Wise – Multi-currency accounts, low-cost international transfers, and debit cards for global spending (checked August 2025).
• Chase Total Checking – USD checking account with waivable monthly fees and a large ATM and branch network across the US (checked August 2025).
• Bank of America Advantage Banking – Flexible USD checking accounts, accessible for newcomers and international students (checked August 2025).
• HSBC Global Money Account – Multi-currency wallet linked to HSBC Premier, with competitive exchange rates and global transfer options (checked August 2025).
• Revolut – App-based multi-currency account supporting USD and 25+ currencies, with budgeting tools and global debit card (checked August 2025).