Your Step-by-Step Guide to Getting a US Bank Account in South America

Opening a US bank account as a South American citizen has traditionally been nearly impossible without US residency, a Social Security Number, or physical presence in the United States. Traditional banks like Chase, Bank of America, and Wells Fargo require extensive documentation that most South Americans simply don’t have access to.

But digital banking solutions have changed this completely. Utoppia offers South American citizens a USD Account with full US banking credentials, including routing and account numbers, without requiring US residency or a Social Security Number. You can open your account entirely online using just your passport and smartphone, with approval from instant up to 24 hours.

This means South Americans can finally access USD banking, receive payments from US companies, and manage their finances in the world’s most stable currency without the traditional barriers that have kept them locked out of the US financial system.

Key Takeaways

• South American citizens can open USD accounts through digital banking platforms like Utoppia without US residency
• Utoppia provides the best solution for South Americans with full US banking credentials and competitive fees
• Required documents are minimal: valid passport, residential address, and smartphone for verification
• Account approval takes from instant up to 24 hours with no minimum deposit, nor opening or maintenance fees
• Top recommendation for South Americans seeking USD banking access and international financial freedom

Can You Open a US Bank Account from South America?

The short answer is yes, but not through traditional US banks. Most major American banks require physical presence, US address verification, and a Social Security Number or Individual Taxpayer Identification Number (ITIN). These requirements effectively shut out South American citizens who live in their home countries.

Traditional banks like Chase require you to visit a branch in person with two forms of ID, proof of US address, and often an initial deposit of $25-100. Bank of America has similar requirements, though they sometimes accept foreign tax identification numbers for certain visa holders already living in the US.

Digital financial platforms have created new opportunities for South Americans. Companies like Utoppia specialize in providing USD accounts to non-US residents, eliminating the traditional barriers. With Utoppia, South American citizens can open a USD Account entirely online using just a smartphone and valid passport.

The key difference is that you receive US routing and account numbers for receiving payments, but you’re not opening an individual deposit account at a traditional US bank. Instead, Utoppia manages the underlying banking relationships while providing you with the credentials you need to receive USD payments and access US financial services.

Why Open a US Bank Account from South America

South American economies face unique challenges that make USD banking particularly valuable. Currency devaluation, inflation, and limited access to international financial services create significant obstacles for professionals, freelancers, and businesses trying to participate in the global economy.

Having access to USD banking solves multiple problems at once. You can receive payments directly from US companies, protect your savings from local currency volatility, and access international investment opportunities that aren’t available through local banks.

Access to a USD Account

Access to the US banking system opens doors that local banks simply can’t provide. You get exposure to US dollars, the world’s reserve currency, plus access to US investment products and a USD international card that works globally.

This is particularly valuable for South Americans dealing with currency restrictions, capital controls, or banking systems that charge excessive fees for international transactions. A USD account gives you direct access to the world’s largest financial system.

Cheaper, Faster and Simpler Cross-Border Payments

Traditional international transfers from South America to the US can cost $30-50 per transaction, plus unfavorable exchange rates that add another 3-5% in hidden costs. Processing times often stretch 3-5 business days, making it difficult to manage cash flow for freelancers and businesses.

With a USD Account, you can receive payments for free from platforms like Upwork, Deel, and international clients. Domestic transfers within the US system cost just $1-3, compared to $40-50 for international wires. You can also send crypto and stablecoins with competitive rates for instant global transfers.

Send Crypto and Stablecoins with the Best Rates

Convert your USD to crypto and stablecoins and send them anywhere in the world instantly with minimal fees. This is particularly valuable for South Americans who need to move money globally or protect value in volatile markets.

Traditional remittance services charge 5-10% for sending money from South America to other countries. Converting USD to stablecoins and sending them digitally typically costs less than 1%, making it the fastest and cheapest way to move money across borders.

Requirements to Open a US Bank Account from South America

Utoppia has simplified the requirements specifically for South American citizens, eliminating the need for a Social Security Number, US address, or physical presence in the United States. The process is designed to be completed entirely online from your home country.

Requirements:

• Be at Least 18 Years Old – Age requirement for legal compliance
• Valid Passport from Your South American Country – Primary identity verification document
• Residential Address in South America – For verification purposes
• Email, Smartphone and Local Mobile Number – Required for security, KYC verification (Know Your Customer – standard identity verification required by financial regulations), and account access

Step-by-Step: How to Open a US Bank Account from South America

This is a simple, 100% online process that takes just 5-10 minutes from your phone, with approval typically within 24 hours. No need to visit a branch, no lengthy paperwork, no US residency required.

• Step 1: Download the Utoppia App Available for iOS and Android, start your application from South America
• Step 2: Enter Your Basic Information Name, email, phone number, and residential address in South America
• Step 3: Take a Photo of Your Passport Identity verification process explained – what to expect
• Step 4: Complete Your Video Selfie Quick biometric verification to confirm your identity
• Step 5: Wait for Identity Confirmation How long it takes and what happens next
• Step 6: Provide Additional Information (If Required) Legal compliance requirements that may be requested
• Step 7: Start Using Your Account Receive payments, pay bills, invest and manage USD from South America

Costs and Fees: What South American Citizens Should Expect

Utoppia offers transparent, competitive pricing with no hidden charges. Unlike traditional US banks that pile on monthly fees and high minimums, you only pay for what you use. We offer the best fees and rates in the market across all products.

Account Opening Fees

Free. Open your US Bank account from South America at no cost, with no minimum deposit required.

Monthly Maintenance Fees

Free. Zero monthly charges and no minimum balance requirements. Traditional US banks charge $10-25/month, you save up to $300/year.

Domestic Bank Transfers

Receiving domestic transfers (ACH and Wire): Free
Sending domestic transfers (Regular ACH): $1 USD
Sending domestic transfers (Same Day ACH): $3 USD

ACH (Automated Clearing House) is the standard system for domestic transfers within the United States. Think of it as the US equivalent to local bank transfers in your home country.

ATM Withdrawal Fees in South America

$7 USD per ATM withdrawal. Flat fee regardless of amount, withdraw larger sums less frequently to minimize costs. This is the ATM operator’s fee, not Utoppia’s.

Currency Conversion Fees

USD purchases: Free. No fees when spending in US dollars anywhere in the world.

1.49% for non-USD transactions. When you spend in your local South American currency, you’ll pay a 1.49% conversion fee, significantly lower than the 3-5% traditional banks charge.

P2P Transfer Fees

Free between Utoppia users. Send money instantly to friends, family, or business partners who use Utoppia – no fees, no waiting.

Crypto/Stablecoin Conversion Fees

Competitive market rates. Convert USD to crypto and stablecoins to send money globally at the best rates available – significantly cheaper than traditional international transfers and the fastest way to move money across borders.

Card Issuance Fees

• Virtual Card: Free
• Physical Card to South America: $9.99 USD (one-time fee, international delivery included to supported countries)
• Link to Apple Pay and Google Pay: Free

Open Your US Dollar Account from South America Today

South American professionals, freelancers, and digital nomads face unique financial challenges that traditional banking simply can’t solve. Currency volatility, capital controls, and expensive international transfer fees create barriers to participating in the global economy.

Utoppia’s USD Account eliminates these barriers completely. You get full US banking credentials with your own routing and account numbers, allowing you to receive payments directly from US companies, protect your savings in USD, and access international investment opportunities.

The account opening process is designed specifically for South Americans, requiring only your passport and smartphone. No Social Security Number, no US address, no physical presence required. Account approval takes from instant up to 24 hours with no minimum deposit, nor opening or maintenance fees.

Join thousands of remote workers, freelancers, and digital professionals from South America who trust Utoppia for their USD banking needs. Download the app and open your account in minutes: Open Your USD Account Now