Before you start

Passport, with visa and I-94 if applicable
An Iowa 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
Bring your passport, Iowa address and SSN or ITIN if issued. Federal Customer Identification Program rules explicitly permit a passport number and country of issuance instead of a taxpayer identification number for non-US persons.
In personWho: YouWeek 1
2
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 to show at the counter.
In personWho: You
3
Try a credit union or an Iowa community bank before a national brand
Des Moines has an unusually deep local financial sector for its size, including large credit unions with broad community-based membership. They are frequently the cheapest car finance available to someone with no credit file — which in a metro where you will be buying a car in month one is the loan that decides your budget.
In personWho: You
4
Set up utilities and expect a deposit
MidAmerican Energy is the regulated electricity and gas supplier for most of the metro — there is nothing to shop for and no retailer to choose, unlike Texas. Without a US credit file expect a refundable deposit, returned after a period of on-time payment. Water and sewer are billed by Des Moines Water Works and the city.
OnlineWho: YouBefore your move-in date
5
Set up direct deposit
Give payroll your routing and account numbers. Direct deposit waives the monthly maintenance fee on most US checking accounts and is the fastest route to a bank that treats you as established.
Via employerWho: You and your employer
6
Open a secured credit card in month one
Post a deposit, typically a few hundred dollars, and get a card with a matching limit that reports to the credit bureaus. The age of the history matters as much as the behaviour, so what you are really buying is the clock. Start it the week you arrive, not the month you need a loan.
OnlineWho: YouMonth 1
7
Budget the car and the winter together
You will need a car, you will finance it at a punitive rate with no credit file, and your first January heating bill will be the largest utility bill you have had. Model those two as one decision rather than two surprises.
In personWho: You

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 an Iowa address
Employer offer letter, accepted by many local institutions as supporting evidence

Things most newcomers don’t know

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 the FDIC's own guidance says so. Branch staff often do not know it. Escalate politely, or try a credit union, before concluding you must wait months for the Social Security card.

Source: FDIC — Customer Identification Program requirements

Nobody chooses an electricity supplier in Iowa, and that is a saving of effort rather than money.

MidAmerican Energy is the regulated supplier for most of the Des Moines metro. There is no Power to Choose equivalent, no retail plan to compare and no contract end date to diary — the opposite of Dallas or Houston, where picking the wrong plan costs hundreds a year. What you do need to watch is the deposit a new customer with no credit file is asked for.

Source: community-reported

A finance town has a deep local banking bench, and newcomers under-use it.

Des Moines's insurance and financial-services cluster left it with more Iowa-chartered banks and large credit unions per head than a city this size would otherwise have. They tend to underwrite a thin file with an offer letter and a conversation rather than an automated score, which is exactly what a new arrival needs. National brands are the default choice and usually the worse one here.

Source: National Credit Union Administration

Carrying a balance builds interest, not credit.

Scores respond to on-time payment and low utilisation, not to interest paid. Paying in full each month builds history identically and saves a rate above 20% APR. This myth costs newcomers more than any other piece of American financial folklore.

Source: Consumer Financial Protection Bureau

Common mistakes to avoid

Waiting for an SSN before trying to open an account, when a passport is often enough.
Defaulting to a national bank and never asking a local credit union about car finance.
Financing a car in month one with no credit file at a punitive rate.
Being surprised by a utility deposit in the same week as the rental deposit.
Budgeting a summer electricity bill and being caught by a January gas bill instead.

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