Before you start

Passport, with visa and I-94 if applicable
A Minnesota 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, Minnesota 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 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.
In personWho: You
3
Look at a credit union or a community development bank
The Twin Cities have a dense credit-union sector and several certified community development financial institutions that lend specifically into immigrant and lower-income communities. They are frequently more flexible with thin credit files than national banks and price loans better.
In personWho: You
4
Ask about riba-free finance if that matters to you
Minneapolis's East African community has produced a small number of Islamic-compliant home and small-business finance products through local lenders and credit unions — genuinely rarer in the US than in the UK or the Gulf. Ask directly; these products are not advertised on the front page.
In personWho: You
5
Set up direct deposit
Give payroll your routing and account numbers. Direct deposit waives the monthly maintenance fee on most US checking accounts.
Via employerWho: You and your employer
6
Open a secured credit card in month one
Post a deposit, typically around $500, and get a card with a matching limit that reports to the credit bureaus. Age of history matters as much as behaviour, so the clock is the thing you are buying.
OnlineWho: YouMonth 1

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 a Minnesota address
Employer offer letter, accepted by some institutions as supporting evidence

Things most newcomers don’t know

Riba-free finance is genuinely available here, which is unusual in the US.

The Twin Cities have the largest Somali community in the country, and local lenders and credit unions have built Islamic-compliant home and business finance products around it. Elsewhere in the US these are scarce or non-existent. If interest-free structuring matters to you, this is one of the few American metros where you can actually get it — but you have to ask, because it is not on the marketing material.

Source: community-reported

No credit history is treated worse than bad credit history.

US underwriting scores a file, and a file that does not exist cannot be scored. A well-paid newcomer can be declined for an apartment and a car loan in the same week.

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. Branch staff often do not know this. Escalate politely, or try a credit union, before concluding you must wait for the SSN.

Source: FFIEC BSA/AML Examination Manual — Customer Identification Program

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.

Source: Consumer Financial Protection Bureau — credit cards

Common mistakes to avoid

Waiting for an SSN before trying to open an account, when a passport is often enough.
Going straight to a national bank and never asking a local credit union, which may price the same loan several points better.
Financing a car in month one with no credit file and accepting a punitive rate.
Delaying a secured card until credit is actually needed.
Paying an avoidable monthly maintenance fee by never setting up direct deposit.

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

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