Before you start

Passport, with visa and I-94 if applicable
An Oklahoma 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, Oklahoma 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
Use a local bank or a credit union as well as a national one
Oklahoma has an unusually deep community banking sector and a strong credit-union presence, several with membership open far more widely than the names suggest. They are frequently better than a national bank on car loans, on a thin credit file and — if you buy — on a first mortgage where a national underwriter would balk at your file.
In personWho: You
4
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
5
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 — and here, unusually, that clock may be running towards a mortgage rather than towards a better flat.
OnlineWho: YouMonth 1
6
If you are buying, price the wind and hail terms before the rate
Ask any prospective insurer three questions: what is the wind and hail deductible as a percentage of dwelling coverage, is the roof settled at replacement cost or actual cash value, and what is the roof's age and material. A 2% deductible on a $300,000 dwelling limit is $6,000 you fund yourself, and a depreciated settlement on an older roof can leave a far larger gap than that. Lenders escrow the premium, so this lands in your monthly payment.
OnlineWho: You
7
Keep an emergency fund sized for a deductible, not for a month
In most cities the emergency fund is about job loss. Here it is also about a hail event putting a five-figure deductible in front of you with no notice. A household that can fund its own wind and hail deductible in cash has a genuinely different risk profile from one that cannot, and it can also choose a higher deductible and a lower premium deliberately.
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 an Oklahoma address
Employer offer letter and recent payslips for renting or lending

Things most newcomers don’t know

Buying is realistic here on a timescale that is impossible in most US cities.

Oklahoma City has one of the lowest housing cost bases of any large American metro. A household that would need a decade to save a deposit in the Bay Area can plausibly buy here within two or three years of arriving. That changes what building credit is actually for in your first year, and it makes the mortgage conversation worth having with a local bank or credit union early rather than late.

Source: community-reported

The wind and hail deductible is the number that decides whether a house is affordable.

It is a percentage of the dwelling coverage rather than a flat sum, so it scales with the house and it is frequently four or five figures. Combined with an actual-cash-value roof settlement on an older roof, a routine hail event can cost the owner far more than the headline premium implies. This is Oklahoma's direct equivalent of Florida's hurricane deductible, and it is just as commonly misread.

Source: Oklahoma Insurance Department

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

Shopping a mortgage rate without asking what the wind and hail deductible will be.
Accepting an actual-cash-value roof settlement on a house with an older roof.
Waiting for an SSN before trying to open an account, when a passport is often enough.
Holding an emergency fund sized for rent when the real shock is a five-figure deductible.
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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