April 26, 2019, Comment off

What Documents Do You Need to Open a Bank Account and What is the Procedure?


First of all, you need to be eligible to open a bank account which means you have to be at least 18 years of age. Secondly, paperwork and personal information should be provided. They can be one form of photo ID. However, some banks might ask for two types of identification which can be a state ID, Social Security card, passport or birth certificate. Also, the date of birth, physical address and phone number will be asked for.

When you are opening a bank account, you might need to have the first deposit, and the amount of deposit will vary based on the bank and account types.

Nowadays, as we experience most things taking place on online platforms, opening a bank account can also be done online. Whether you’re opening an account with an entirely online bank or not, the requirements are usually the same which includes Social Security number, mailing address, and date of birth.

Briefly, to open a bank account in the US, you have to possess the requirements stated below.

– The authorized certificate of incorporation (or the operating agreement for the LLCs)

– Federal tax ID number (a.k.a. EIN)

– Physical Address in the US (to deliver your monthly statements and bank letters.)

– A valid ID of the company owners or members.