Do I require a US business account to run a US company?

To operate your company in the US, you will need a US bank account that can accept payments from customers and pay expenses for your business. You will need to provide your EIN, your company registration documents, and your personal identification documents to open a bank account in the US.

Some of the benefits are:

1. You can simplify money management with business checking that works for you.
2. You can access online and mobile banking with bill pay, card payment processing, check fraud prevention, mobile check deposit, and overdraft protection.
3. You can earn money while you save with a limited time bonus interest rate on a business money market account.
4. You can explore higher rates when you save for the long term with a business certificate of deposit (CD).
5. You can share custom access to your business accounts with employees and partners through online banking.

Also read: US company formation - registered company vs sole proprietorship

6. You can keep your business taxes organized by tracking your income and expenses separately from your personal finances.
7. You can get a better handle on bookkeeping and accounting by using online software and tools to manage your cash flow and budget.
8. You can accept different types of payments from your customers, such as credit cards, mobile payments, ACH transfers, wire transfers, and more.
9. You can increase your credibility and professionalism by having a dedicated business bank account that matches your business name.
10. You can improve your chances of getting financing and credit by building a strong business banking relationship and credit history.

Can I open a merchant account?

Open a US merchant account, so you can accept payments from customers. A merchant account is a type of bank account that allows you to accept credit card payments from customers online or offline. You will need to provide your EIN, your bank account details, and your company information to open a merchant account in the US.


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