Before you start

Passport, with visa and I-94 where applicable
An Anchorage residential address
An SSN or ITIN if you have one; a passport number if not
An opening deposit, which varies by institution

Step-by-step

1
Open a checking account in branch in week one
Bring passport, Anchorage address and SSN or ITIN if issued. The federal Customer Identification Program rule explicitly permits a passport number and country of issuance instead of a taxpayer number for non-US persons. A refusal on that ground is branch policy, not law.
In personWho: YouWeek 1
2
Prefer an Alaskan institution over a thin national branch network
Several national banks have a limited Alaskan footprint, and a branch that is one of three in the state is a poor place to solve an unusual problem. Alaska's own banks and its large credit unions have branches across Anchorage, understand seasonal and rotational incomes, and are frequently more willing to open on a passport and an offer letter.
In personWho: You
3
Mention a pending ITIN if you have no SSN
Banks may open accounts for people who have applied for but not yet received an ITIN. File IRS Form W-7 and keep the receipt — raising it at the counter can move your banking forward by weeks.
In personWho: You
4
Set up direct deposit immediately
Give payroll your routing and account numbers. Direct deposit waives the monthly maintenance fee on most US checking accounts, and Alaska takes no state income tax withholding, so what lands is federal-and-FICA only — a noticeably larger net figure than the same gross in Seattle or Portland.
Via employerWho: You and your employer
5
Open a secured credit card in month one
Post a refundable deposit, typically around USD 500, and receive a card with a matching limit that reports to Equifax, Experian and TransUnion. Length of history counts as much as behaviour, so start the clock the week you arrive.
OnlineWho: YouMonth 1
6
Budget for the winter utility bill and the summer's absence of one
Anchorage households heat with natural gas from Cook Inlet and the winter bill is the difference between a comfortable budget and a stressful one. Ask a landlord or seller for the actual bills from December to March rather than an estimate, and ask whether the building has been weatherised. ENSTAR has said publicly it is working with local utilities on future gas supply, so treat today's heating cost as a floor rather than a fixed point.
OnlineWho: YouBefore winter

Documents you’ll need

Passport, with country of issuance serving as the identifying number if you have no SSN or ITIN
Visa and I-94, where applicable
SSN card or ITIN letter, if issued
Proof of Anchorage address
Employer offer letter, accepted by many banks, landlords and utilities as supporting evidence

Things most newcomers don’t know

Your net pay is bigger here than the same gross anywhere with a state income tax.

The Alaska Department of Revenue states that the state 'currently does not have an individual income tax, therefore no employee withholding for state income tax is required'. Against Oregon, California, New York or Minnesota that is several percentage points of every pay cheque, and unlike the no-income-tax states in the Sun Belt there is no state sales tax clawing it back either — and in Anchorage, unusually for Alaska, no local sales tax either. Where it goes instead is the grocery bill and the heating bill.

Source: Alaska Department of Revenue Tax Division — personal income

No credit history is treated worse than bad credit history.

American underwriting scores a file, and a file that does not exist cannot be scored at all. A well-paid newcomer can be declined for an apartment, a phone contract and a car loan in the same fortnight while holding a spotless twenty-year record at home. Nothing crosses the border — not the mortgage, not the decade with the same bank.

Source: community-reported

Federal rules let a bank take your passport instead of an SSN.

The Customer Identification Program rule accepts a passport number and country of issuance for non-US persons, and branch staff frequently do not know it. Being refused is common and is not a legal outcome. Print the CFPB guidance, ask for a manager, or try a credit union — waiting weeks for a number you may not be eligible for is the avoidable mistake.

Source: FDIC — Customer Identification Program requirements

The dividend is a state-wide payday and the whole retail economy is timed to it.

The Permanent Fund Dividend pays every eligible resident in the same window each autumn — USD 1,000 for 2025 — so car dealers, furniture shops and airlines all run their promotions around it. For a newcomer, two things follow: you are not eligible until you have completed a full calendar year of residency, so the first one passes you by; and prices on big-ticket items are worth watching before and after that window rather than during it.

Source: Alaska Permanent Fund Dividend Division

Common mistakes to avoid

Waiting for an SSN before trying to open an account, when a passport often suffices.
Choosing a national bank with three Alaskan branches and discovering it when you need one.
Signing a winter lease without ever asking what December to March cost to heat.
Financing a car in month one with no credit file and accepting a punitive rate.
Counting a Permanent Fund Dividend you are not yet eligible for into your first-year budget.

Some of this may be out of date. Spotted something inaccurate? Help us keep it right for the next newcomer.