Opening a bank account in the USA is a good idea for most businesses. Having a dedicated bank account will give your company a more professional appearance to clients and business partners.
It will give you easy access to the largest economy in the world. It's also important to keep in mind that you won't have to pay expensive foreign exchange fees, and you'll have easier access to international markets because US banks are well-known on a global market.
Please watch the video given below to get more details:
Benefits and features of a US Bank Account
- Avoid high currency exchange fees using online payment systems.
2. Get the US bank's SWIFT and routing numbers.
3. Use a bank account without paying anything (not even a monthly maintenance fee).
4. Get online banking on mobile, laptop, and desktop.
5. Get business debit cards for any corporate purchases.
6. Accept payments (wire transfers) in US dollars from US customers and from customers worldwide.
7. Send wire transfers both domestically and internationally.
8. Open a merchant account with Stripe, PayPal Business, and other payment processors.
9. Transfer money from accounts with Payoneer, Revolut, TransferWise, Brex, and other online payment systems.
10. Open a corporate credit account and get a credit card to start building your credit history.
11. Get a chequebook and use the mobile banking app to deposit checks.
Also read: US company formation - registered company vs sole proprietorship
It's critical to understand the account opening procedure; otherwise, you may waste a lot of time by selecting the wrong account for your business.
To get proper guidance and assistance throughout the process, it would be best to get in touch with an offshore company and bank account formation agent - RTRSupports Limited.
As a non-US entity, it is impossible to open a bank account in the US. Your company must be registered in the US in order to meet the requirements for a US bank account.
It’s not difficult for non-residents to open a business bank account in the US because there are no residency requirements for such accounts. Only remember that your company must be registered in the US and have an EIN.
To open a business bank account in the US, the following documents must be submitted:
Photo ID proof of the director who is opening the account
Personal address proof of the director
Articles of organisation or incorporation
EIN confirmation letter (It is required for tax reporting purposes)
Business address proof