If you are looking to open a bank account in United States, you are on the right page.
If you are a non-U.S. resident, it can be challenging to open a U.S. bank account.
The requirements for opening a U.S. bank account are different from bank to bank but typically you will need an Employer Identification Number (EIN), and 2 pieces of photo identification (such as a Passport or ID Card).
Employer Identification Number (EIN) is a number assigned by the U.S. Internal Revenue service and its used to identify a business. EIN is also absolutely 100% required to open a U.S. bank account.
You can get a Third-Party Designee to apply for an EIN on your behalf
Once you apply and get your EIN, you can apply to open a bank account in the US.
Opening bank account in the USA can sometimes be troublesome. However, on this page, we will lay out the instructions and plans on how you can go about opening your bank account in the US...
Where Can I Open U.S. Open a Bank Account?
Once you have an Employer Identification Number (EIN), you will be able to open up your U.S. bank account.
Your best option is to find a U.S. bank (such as Wells Fargo, Citibank, and Bank of America) that also has a location locally in your country that will allow you to open up a U.S. bank account. It’s always a good idea to have your bank close to you.
Also, many international banks have a presence in the US, including Barclays, Credit Suisse, Deutsche Bank, and HSBC. If you already have an account with one of these banks, they can help you set up a bank account.
Your U.S. bank account can be opened anywhere in the world. Typically, U.S. banks will need someone to show up in person, with formation documents, and EIN for the company.
The procedure for opening a US bank account remotely vary from country to country, so I would suggest speaking to a bank representative at your local branch. This will give you a better idea on how the bank account process works and what documents you will need to open a US bank account.
If you intend to travel to the state of incorporation to open up a bank account, make sure to bring all necessary documents detailed below...
What Documents Do I Need to Open a US Bank Account?
Every bank and institution will be different on what exactly they will require.
Ideally, you want to contact the bank where you would like to open a bank account and ask their representative on what documents and information you will need to provide them to open a bank account.
Generally, you will be asked for the following documents:
- 2 forms of ID: your passport, identity card, or driving license
- Employer Identification Number (EIN)
- Documents proving your physical address (typically P.O. boxes will not be acceptable), and
- Relevant immigration documents (if necessary)
Different banks will require different documents.
Keep in mind that your nationality will also play an important role. Typically, it will probably be much easier to open a US bank account if you're Canadian, Mexican, Australian, British, or from an EU country.
Which Bank is Best For Me?
I will detail the 4 most popular US bank below, including Bank of America, Citibank, Chase, and Wells Fargo.
Cost: $12 a month but free if you pay $250 each month
Cost: no minimum deposit required
Cost: $10 a month but free if you keep at least $1,500 in account
Cost: $10 a month but $5 a month if you're a student.
Can I Open A U.S. Bank Account Online?
You can also try opening a bank account online.
If you've recently arrived to United States, you online application will have a good chance that it will be refused. Because you're new to the country, you will have limited credit history. This will make it difficult for the bank to verify your identity.
I have heard from some of my clients that they have been able to open a bank account with EverBank -- you can always try contacting them to see what your options are.
Another option to opening a U.S. bank account online is Delaware Corp.
On the other hand, if you apply for a bank account in person, it will be a lot easier to handle any problems that may arise in person.
Can I Get a U.S. Credit Card as a Non-U.S. Resident?
I have heard from some of my clients that they were able to apply for a credit card with Capital One.
Be sure to talk to their representative and ask whether you will be able to apply for a credit card.
If All of the Above Steps Don't Work, Contact Me
► If you are a non-US resident or a non-US citizen without a Social Security Number (SSN) and looking to open a bank account in United States, contact me Sam Mollaei, Esq., business lawyer, and I will do my best to help you open a bank account.
Mollaei Law is a law firm specializing in business law serving businesses and entrepreneurs. We provide legal expertise in all stages of business development by drafting and reviewing contracts and agreements, assisting transactions and negotiating, forming LLC's and Corporations, registering trademarks and copyrights, business planning, and answering any legal questions you may have about your business.