If you trade within the U.S. or do transactions with U.S. clients, you may be asked to process payments via local payment methods. Even though some businesses state they use services such as PayPal or Wire Transfers, these methods may sometimes be inconvenient, time-consuming and costly. Moreover, a bank account will definitely help in the US’s competitive market. Also, it is quite essential to keep your business’s banking separate from your personal banking transactions as an entrepreneur. Therefore, having a US Bank account might prove beneficial.
There are 3 options to consider if you want to open a US bank account. First, you may take your chance by applying for online banks. You may have noticed that this option is somewhat complicated and time-consuming. Second option is that you can travel to the United States and visit banks in order to open a US bank account. You must collect the required documents before going to the US. At this point, proving your credibility to banks is one of the most basic requirements.
Lastly, you can utilize our assistance. With our service, you will be able to have your own US bank account without having a Social Security Number or traveling to the US. In fact, you do not even need to be a resident of the US. We can help you with opening a bank account in the U.S. For further information, please contact us.
What do I need for opening a US Bank Account?
- Form your company, such as an LLC or Corporation
- Obtain an Employer Identification Number from the Internal Revenue Service (IRS)
- A real physical address for the owner in the US
- A valid passport scan of the company owners or members.
- The company’s papers
- If your company is one-year-old, you may need to provide the certification of good standing.
- Use your corporation papers and EIN to set up a business bank account
What documents do I need to open a bank account?
The documents required for opening a corporate bank account are usually as follows: approved certificate of formation of your business, Employer Identification Number, and one of the company owners to be present during the process. Banks are regulated by both the federal government and the state.
Please note that each bank may require different documents. Therefore, it’s always good to check the necessary documents before you go to the bank you want to work with. Some other materials that could be required by a bank:
- Certificate of Authority: This document is also known as “Foreign Qualification.” It is called “foreign qualification” because a business is considered as a foreign entity in the states that are different than the one it was established. You can officially work in other states with this document. Most of the banks require this document for the companies doing business in other states. This document is important because a bank account is a place where all income is collected, and this is regarded as a business operation. You can contact us to get more information about “Foreign Qualification.”
- Certificate of Good Standing: Also known as “Certificate of Existence,” this document is given to prove that your business fulfills all its tax responsibilities and pay its accounting fees properly. Most of the banks require this document when you apply for loans and open a corporate bank account. Additionally, companies may be asked to provide this document before making essential agreements.
Please do not hesitate to contact us if you want to open a U.S. bank account or have further questions.