Before you start

Passport, with visa and I-94 where applicable
A US 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, Tennessee 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
Try a regional bank or credit union alongside a national one
Tennessee has a strong regional banking sector and several large credit unions, some tied to the healthcare and automotive employers. They are frequently more willing to work with an offer letter and a visa than a national bank's centralised underwriting, and price car loans better.
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 pull 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, which is the easiest saving available to you.
Via employerWho: You and your employer
5
Open a secured credit card in month one
Post a refundable deposit, typically $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 immediately rather than when you need credit.
OnlineWho: YouMonth 1
6
Get a credit union pre-approval before you visit a car dealer
Financing a car with no credit file means a large down payment or a rate several points above market. Walking into a dealership with a pre-approved credit union rate turns their finance desk from the only option into a competitor, and that single move is often worth more than any negotiation on the sticker price.
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 Tennessee address
Employer offer letter, accepted by some banks and lenders as supporting evidence

Things most newcomers don’t know

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. None of it transfers — 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: FFIEC BSA/AML Examination Manual — Customer Identification Program

Tennessee's landlords must hold your deposit in a separate account, and it is enforceable.

Under the Uniform Residential Landlord and Tenant Act, which applies in Davidson County, a landlord must place the security deposit in a separate account at a Tennessee financial institution and tell you in writing where it is. A landlord who does not is not entitled to retain any part of it. That is an unusually sharp remedy and it is worth asking about at signing rather than at move-out.

Source: Tennessee Uniform Residential Landlord and Tenant Act

Carrying a balance builds interest, not credit.

Scores respond to reported on-time payments and low utilisation, not to interest paid. Paying in full each month builds identical history and saves a rate above 20% APR. A very large number of Americans believe the opposite and pass the belief on to newcomers as advice.

Source: Consumer Financial Protection Bureau — credit cards

Common mistakes to avoid

Waiting for an SSN before trying to open an account, when a passport often suffices.
Financing a car in month one with no credit file and accepting a punitive rate.
Taking dealer finance without a credit union pre-approval to compare against.
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.