AI agents for business finance: what they can and can't do
What AI agents can do in bookkeeping, close, collections and compliance today, where a person must stay in charge, and how to judge a product.
The short answer
Not directly. The federal customer identification rule for banks (31 CFR 1020.220) requires your name, date of birth, address and an identification number; for a non-US person that number can be an ITIN, a passport number with its country of issue, or an alien identification card number. Banks may add their own requirements on top, which is why one bank will open an account on a Nigerian passport and another will insist on an SSN.
What the federal rule actually requires
Every US bank must run a customer identification programme. Before opening an account, it must obtain at least:
- Name.
- Date of birth, for individuals.
- Address: a residential or business street address; if you have none, an APO or FPO box, or the street address of next of kin or another contact.
- An identification number.
For a US person, the number is a taxpayer identification number, usually an SSN. For a non-US person, the rule lets the bank accept one or more of: a taxpayer identification number; a passport number and country of issue; an alien identification card number; or the number and country of issue of another government document that shows nationality or residence and has a photograph (31 CFR 1020.220, current text).
The rule also lets a bank open an account for someone who has applied for, but not yet received, a taxpayer identification number, as long as it confirms the application was filed and collects the number within a reasonable time.
What 'US person' means here
The rule draws its line between US persons and non-US persons, and banks apply it to their own customers. Practice varies for permanent residents: many banks will simply ask a green card holder for an SSN, which they hold, because the bank also reports interest to the IRS. Ask your bank which column you fall into and which numbers it will accept from you.
Two newcomers, two outcomes
Illustration. Kunle lands in Dallas on an immigrant visa. His green card has not arrived and his SSN is weeks away. A branch accepts his Nigerian passport, his visa stamp and an apartment lease, and notes that his SSN is pending. His friend Tobi, a visitor staying with family, has a passport but no lease or bill in his name; the same branch declines because it needs a residential address it can verify. Same passport, different outcome: the address, not the nationality, made the difference.
How it plays out by status
| You hold | Documents you are likely to have | What to expect |
|---|---|---|
| Green card | Green card, Nigerian passport, SSN | Most banks will open an account |
| H-1B, L-1 or other work visa | Passport with visa, I-94, SSN | Most banks will open an account |
| F-1 student | Passport, I-20, I-94, often no SSN | Banks near campuses often have a process; others may ask for an SSN |
| Visitor | Passport only, no US address | Hard: many banks need a US residential address |
| ITIN holder | Passport, ITIN | Accepted by some banks as the identification number |
ITIN versus SSN
The IRS issues an ITIN for federal tax purposes only, to people who need a US tax number but cannot get an SSN. It does not authorise work, does not change immigration status, does not qualify you for Social Security or the EITC, and is not meant as identification outside the tax system. You apply on Form W-7, usually with a tax return; processing takes about seven weeks, or nine to eleven weeks in tax season or from overseas (IRS, October 2025). A green card holder or someone with a work visa does not need an ITIN, because they can get an SSN. More in ITIN for Nigerians.
Why banks still differ
The federal rule is a minimum. A bank can ask for more, and many do:
- A US address on a utility bill or lease.
- A second ID, such as a US driver's licence or state ID.
- Proof of an SSN even where the rule would accept a passport.
- An in-branch visit rather than online opening, because online systems are often built around SSN checks.
- A ChexSystems or similar history check; see ChexSystems and refusals.
So if one bank refuses you, ask which requirement you did not meet; another may accept the same documents. For step-by-step help, read opening a US account with a Nigerian passport only.
What to take to the branch
- Your Nigerian passport, with visa and I-94 record if you have one.
- Green card or employment authorisation card if you hold one.
- SSN or ITIN, or proof that you have applied.
- Proof of US address: lease, utility bill or employer letter.
- A small opening deposit.
Where Pryme fits
A Pryme account is not a US bank account, and Pryme is not a bank; outside Nigeria its activities run through regulated partners. Pryme Personal accounts can be opened from any country and hold USD, GBP, EUR and NGN with local details for each, which can help while you wait for a US bank to open your account. See how it works.
Questions people ask
Can I open a US bank account without an SSN?
The federal rule lets banks accept a passport number and country of issue, an ITIN or an alien ID number from non-US persons. Whether a particular bank does is its own policy.
Does a US bank ask about my visa?
The federal rule does not require a visa category, but banks may ask for documents such as an I-94 or I-20 to confirm identity and address.
Can an F-1 student open a US bank account?
Often yes, with a passport and US address; some banks also ask for an I-20 or an SSN.
Can I use an ITIN to open a bank account?
The federal rule lists a taxpayer identification number, which includes an ITIN, as acceptable for non-US persons. Many banks accept it.
Sources
- eCFR, 31 CFR 1020.220: Customer identification program requirements for banks (current text, viewed Oct 2026) · accessed Oct 2026
- IRS, Individual Taxpayer Identification Number (ITIN) (updated 28 Oct 2025) · accessed Oct 2026
This article is general information, not financial, legal or tax advice. Products described are provided under the terms on this site and are subject to regulation and eligibility.