There is NO provision in the Patriot Act which forbids banks from accepting clients who do not live in the US.  However, US banks are looking at the increased diligence provisions in the Patriot Act and using these as an excuse to get rid of any clients who are too difficult to assess.  Click here for guidelines to follow if you have problems.

The director of the State Department Office of Policy Review, Mr. Ed Betancourt,  has researched the problem with various government departments and has given overseas Americans and US banks a clear statement of principle in this regard.

The State Department has drafted a form letter which explains how US banks should treat accounts linked to a foreign address. The State Department has offered to provide a signed copy (via fax or email if so desired) to a US Citizen who would like to have one. The name of the requesting individual will be indicated as the addressee in the letter. This person can then present this letter from the State Department to the individuals or financial institutions with whom they may be having difficulty opening or maintaining an account.

To request a signed copy of the letter, the US citizen overseas should write to:

 Overseas Citizens Services
 Office of Policy Review and Inter-Agency Liaison
 U.S. Department of State
 SA-29, 4th Floor
 2201 C Street, NW
 Washington, DC 20520, USA

Dear (name of citizen concerned),
 
This letter is in response to the concern you expressed regarding the
USA PATRIOT Act and your access to banking in the United States. The
Department of State has been contacted by numerous individuals alleging
that, under the USA PATRIOT Act, their U.S. bank accounts have been
closed or that they have been prohibited from opening an account due to
foreign citizenship or a foreign address. The USA PATRIOT Act does not
prohibit foreign citizens or individuals with foreign residences from
opening or maintaining a U.S. bank account.
 
Such activity is done frequently and is necessary in a global economy.
Notably, however, the USA PATRIOT Act does require financial
institutions to complete enhanced security procedures in certain
circumstances. For example, under Section 326 of the Act, financial
institutions must implement reasonable procedures for (1) verifying the
identity of any person seeking to open an account; (2) maintaining
records of the information used to verify the persons identity, and (3)
determining whether the person appears on any list of known or suspected
terrorists or terrorist organizations. In addition, foreign individuals
are generally required to provide a government issued number that is
similar to a social security number.
 
Enhanced due diligence is also required under Section 312, which
requires financial institutions to take reasonable steps to determine
the owner and the source of funds deposited into private banking
accounts that financial institutions maintain for non-U.S. persons and
conduct enhanced scrutiny of such accounts maintained for senior
political figures.
 
In developing their customer identification procedures under Section 326
or in the enhanced due diligence procedure under Section 312, a
financial institution may request information of a customer that had not
been previously solicited. However, the USA PATRIOT Act does not
prohibit foreign persons or those with foreign addresses to open or
maintain bank accounts in the United States. Please feel free to present
this letter to your bank, should you face any difficulties with
interpretation of the USA PATRIOT Act.
 
Sincerely,
Office of Policy Review and Interagency Liaison