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, Madison 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, and the CFPB states plainly that you do not need a Social Security number to open a bank or credit union account. A refusal on that ground is branch policy, not law.
In personWho: YouWeek 1
2
Go to a credit union if a bank branch turns you away
Wisconsin's credit union sector is unusually strong and Madison is where it is headquartered. The large local credit unions handle a constant flow of international students and researchers from UW-Madison and are materially more willing than a national bank branch to open an account on a passport and an offer letter.
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 move 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, and it also produces the deposit history a Madison landlord will want to see in a market this competitive.
Via employerWho: You and your employer
5
Open a secured credit card in month one
Post a refundable deposit, typically around USD 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 the week you arrive rather than the year you want a mortgage.
OnlineWho: YouMonth 1
6
Check whether you qualify for the Wisconsin Homestead Credit — renters can claim it
This one is genuinely unusual. Wisconsin's Homestead Credit is claimable by tenants as well as owners, based on the relationship between household income and the property tax or rent you paid, and the income ceiling for 2025 is household income below USD 24,680. Most American states have nothing comparable for renters. If you are a graduate student, a part-year arrival or on an entry-level income, check it before you file.
OnlineWho: 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 Madison address
Employer or university offer letter, accepted by many banks, landlords and utilities as supporting evidence

Things most newcomers don’t know

Wisconsin lets RENTERS claim a property tax credit, which almost no state does.

The Homestead Credit is calculated from the relationship between your household income and the property tax OR rent you paid during the year, with an income ceiling of USD 24,680 for 2025. A tenant can claim it. For a graduate student, a postdoc or anyone arriving part-way through a tax year on a modest income, it is real money that nobody mentions, and it is claimed on the state return rather than applied for separately.

Source: Wisconsin Department of Revenue — claiming Homestead Credit

There is no cap on a Wisconsin security deposit, so your cash requirement is negotiable in a way it is not elsewhere.

New York caps a deposit at one month and Kansas at one month unfurnished. Wisconsin sets no limit at all — DATCP's rules simply define anything above one month's prepaid rent as a security deposit and do not restrict the amount. In a market as tight as Madison's, a landlord can and sometimes does ask for more. Budget for that possibility, and get the deposit and the check-in process written into the lease.

Source: DATCP — Wisconsin landlord-tenant guide (ATCP 134)

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. Nothing crosses the border — 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 the CFPB's own consumer guidance says you do not need a Social Security number to open a bank or credit union account. Branch staff frequently do not know this. Being refused is common and is not a legal outcome — ask for a manager, or use one of Madison's credit unions, which do this every August.

Source: CFPB — bank accounts and services

Common mistakes to avoid

Waiting for an SSN before trying to open an account, when a passport often suffices.
Assuming a one-month deposit cap applies in Wisconsin. There is no cap.
Filing a Wisconsin return on a low income without checking the Homestead Credit, which renters can claim.
Financing a car in month one with no credit file and accepting a punitive rate.
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.