How to open an account with a US bank in 2020?

How to open an account with a US bank in 2020?

The USA is deservedly included in the top 10 most prestigious jurisdictions with attractive conditions for doing business. Every year more and more foreign investors decide to register a company in the United States, to obtain an American business license, to open an account with American banks.

Opening an account with an American bank is a profitable, necessary solution, that will allow you to conveniently manage your own accounts, carry out non-cash payment transactions remotely.

Planning to open an account with a US bank, we recommend you considering the following options:
  • Opening a personal account in the USA;
  • Opening a corporate account for a company;
  • Opening an investment account in the USA for both individuals and legal entities.
How to open an account for a non-resident in the USA?

We can offer you 2 possible options for the development of events:

  • Our experts will assist in the preparation of the necessary documentation. Next, you will personally go to the selected bank in the United States, for which you may need to additionally open a tourist visa. We will assist you in opening an account in the USA or invite bank employees to our local office to solve this problem;
  • We will provide professional support in preparing all the required documents and opening an account in America without traveling to another country.

Of course, the second option is more appropriate, because it will help you to avoid unnecessary financial expenses and achieve the desired result in the shortest possible time.

How to open a personal account in America?

If you want to open an account with an American bank for an individual, then you will need to fulfill the following conditions:

  • To provide a copy of a civil passport;
  • To provide a document, confirming the address of residence. This can be a copy of a certificate from the bank about payment for utility bills (required in English) + a statement from the account of the local bank.
  • To present Social Security Number (SSN).

If you do not have an SSN, then a personal account with a US bank is also possible, for the simple reason, that you are a foreigner.

A procedure for opening a bank account for an individual is as follows:
  • To open an account in America, you will need to fill out the forms, sent by our experts, as well as provide the above documents;
  • A next step, we will transfer your data to the manager of your chosen American bank;
  • Then, you will receive a confirmation from the bank about the successful opening of an account.
Personal account management

Opening a personal account with a US bank will provide you with the following options:

  • To manage assets through convenient online banking (make payments within the United States and international payments, as well as view a list of transactions);
  • To use a debit card for purchases or accumulate funds (VISA/Mastercard);
  • To use a checkbook to pay bills;
  • To make bank transfers (online or via fax).
How to open a corporate account?

First of all, you will need to register a company in the USA. In other words, if you have an existing business in the Czech Republic or an existing company in China, then it is not possible to open an account with an American bank.

We suggest you registering an LLC in America, a corporation (Corp.) or a branch (B).

In order to open a corporate account in the USA for a legal entity, you will need to perform the following steps:
  • To use the services of our company to register a company in the USA;
  • To get a tax payer number (EIN) by registering with the IRS (with qualified assistance of our specialists);
  • To register a local physical address (we will give you options).
How to open an investment account in the USA?
  • Those, who intend to open an investment account with an American bank (this is an accumulative type account used for investment projects) will need to consult with a licensed broker regarding the distribution of investments:
  • Bonds (state, regional or belonging to certain enterprises);
  • Shares (largest and most influential US companies);
  • Startups.

You will need to decide how much money should be invested in each of the items listed. If you want to open an investment account in the USA, then our company will help you to solve this problem as easily and quickly as possible.

Reasons for closing a bank account in the USA

Be prepared for the fact, that you can close your account with an American bank, even without warning and providing explanations.

In one case, the reason may be a suspicion of money laundering or a violation of the rules for the safe conduct of business activities. Try to manage payments wisely: you should not replenish the account, and then transfer virtually all of its amount to several payments in a short period (in other words, the day after replenishment).

Also, if you are interested in opening an account in the USA, you should not subsequently often withdraw large amounts of cash or make transfers to «hot spots» (war zones).

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It is important to consider

Those, who wish to open an account with a US bank, are strongly advised to study the following important points:

  • Personal data on the bank account holder is not disclosed to anyone. An exception can only be a court decision;
  • The owner of a personal, corporate or investment account is exclusively our client. In other words, only you have the access to an open account and can fully dispose of your own funds;
  • Opening an account in America is best left to professionals. In the case of cooperation with a reliable law firm, a choice of banks, in which you can easily and quickly open an account, will increase at least twice. At the same time, you will be completely sure, that everything is executed correctly, legally and in strict accordance with the bank’s safety rules.
Where is better to open an account in the USA?

If you decide to register an American company and open an account in America, we suggest you such elite and reliable banking structures:

  • Bank of America;
  • Banesco USA;
  • CitiBank;
  • Fremont Bank;
  • JPMorgan Chase Bank;
  • Preferred Bank;
  • US Bank;
  • Silicon Valley Bank.
You also have the opportunity to open an account with a European bank remotely:
  • ABC Banking Corporation (Mauritius);
  • Alpha Bank (Greece, Cyprus, Romania);
  • ANZ Bank (Australia);
  • Bank Alpinum (Liechtenstein);
  • FIO Banka (Slovakia);
  • JSC Terabank (Georgia);
  • Julius Bank (Switzerland);
  • MKB Bank (Hungary);
  • Noor Bank (UAE).
Opening an account with a US bank

If you are interested in opening an account with a Bank of America, opening an account in England, then YB Case experts are ready to provide you with a full range of support services, including qualified advice on obtaining proper documents.

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