Before you start

Passport, with visa and I-94 if applicable
A Florida 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, Florida 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
Consider a credit union alongside the national bank
Central Florida has a deep credit-union sector, including large institutions with roots in the region's aerospace and education workforces and membership open far more widely than the names suggest. They are frequently better on car loans and on thin credit files than a national bank.
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 and produces the clean deposit history a letting agent will ask to see.
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.
OnlineWho: YouMonth 1
6
Document tips and variable hours properly
Tipped and hourly income is real income, but screening and underwriting models handle it badly unless it is evidenced. Keep six months of payslips, a letter from the employer stating your position and typical hours, and bank statements showing consistent deposits. Report tips to your employer as required — under-reported tips also mean an income you cannot then prove.
Via employerWho: You
7
If you are buying, get the insurance quote before the mortgage quote
Florida lenders escrow property insurance and property tax into the monthly payment. Because premiums here are the highest in the country and can move sharply at renewal, the escrow line frequently exceeds the difference between a good and a bad interest rate — and it can rise mid-term without the rate changing. Price the insurance on the specific address, with the actual hurricane deductible, before you decide what you can afford.
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 a Florida address
Six months of payslips and an employer letter, if your hours or tips vary

Things most newcomers don’t know

In Florida the insurance quote decides affordability, not the interest rate.

Property insurance premiums here are the highest in the United States and lenders escrow them into the monthly payment. A difference of a few thousand dollars a year in premium outweighs a meaningful move in mortgage rate, and unlike the rate it can change at every renewal while you hold the loan. Buyers who shop the rate and accept whatever premium arrives at closing are optimising the smaller number.

Source: Florida Office of Insurance Regulation

Under-reported tips cost you twice.

Tips are taxable wages and are reportable to your employer. Beyond the tax exposure, unreported income is income you cannot evidence — which is exactly what a letting agent's screening model and a mortgage underwriter want to see. In a city where a large share of pay arrives as tips, this is the commonest reason a well-paid hospitality worker cannot rent the flat they can obviously afford.

Source: IRS — tip income

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

Waiting for an SSN before trying to open an account, when a passport is often enough.
Shopping mortgage rates without pricing the insurance escrow on the specific address.
Under-reporting tips, then being unable to evidence income to a landlord.
Starting a flat search with no US credit file and no plan for the screening.
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.