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How to open an account in the United States without being a resident

Sort out how to open an account in the united states Without being a resident it is not as complicated as many people think when they think of establishing a company in the United States and the opening a business bank account.

How to open an account in the united states without being a resident: solutions

When it comes to knowing how to open an account in the united states Without being a resident you have these solutions:

  1. Your best option is to find a bank like Bank of America, Citibank or Wells Fargo that also has a local location in your country and that allows you to open a bank account in the United States.

If you have difficulties as a foreign company to open your bank account You can form a subsidiary in the United States and it will facilitate the opening of an account, because once you create a subsidiary in the United States, you take the documents to a bank and open your bank account in the United States.

The requirements are different from bank to bank, but generally you will need an employer identification number and two photo identification documents such as a passport or identification card.

The Employer Identification Number is a number assigned by the United States Internal Revenue Service that is used to identify a business and is required to open a bank account in the United States.

Once you request and get your EIN, you can request the opening of a bank account in the United States.

Documents to open a bank account in the United States

In general, they will request the following documents:

  1. The EIN, Employer identification number.
  2. Two forms of identification that can be your passport, your identity document or your driving license.
  3. Documents that prove your physical address.
  4. If necessary, they can also request immigration documents, since each bank may require you to present different documents.

However, keep in mind that your nationality will also play an important role, since it is much easier to open a bank account in the United States if you are Australian, Mexican, British or Canadian or a citizen of an EU country.

Costs

The costs of opening a bank account in the United States and variable according to the bank you choose.

For example in Bank of America, the monthly cost is 12 dollars but with 250 dollars a month that you enter your account, the cost is free.

At Wells Fargo, the cost is $ 10 per month, but if you are a student, the cost is $ 5.

Opening a bank account online

If you have recently arrived in the United States, your online application has a good chance that it will be rejected because your credit history will be limited and therefore it will be difficult for the bank to verify your identity.

However, there are options such as Everbank or Daleware Corp, but if you request a bank account personally it will be much easier because you can solve any type of problem that arises.

Bank account in the united states for non-residents

To open a bank account in the United States for non-residents, you do not need to present the US social security number for both a savings account or a checking account, but banks reserve the right to deny the application.

Well, a foreign person must also have a local address in the United States to be linked to the account.

Also, depending on the state, the bank may require you to submit a copy of other information prior to opening the account.

Requirements to open a bank account in the United States

As a general rule, financial institutions apply certain identity verification procedures when every customer opens a new account, which is defined as a formal agreement established to provide ongoing services.

Given this definition, the law applies to traditional types of accounts such as savings or checking accounts, loans, certificates of deposit, and other extensions of credit, but the law does not apply to incidental relationships such as the occasional purchase of a money order. postal, traveler’s check or bank transfer.

The customer is anyone who wishes to open a new account and anyone who is an assignee of the account at the time it is opened or is added as a signer after the account is opened.

Understanding the basic definitions, the bank will require:

  1. An ID to verify your full name.
  2. The date and place of birth
  3. Your residence address.
  4. The United States tax identification number.
  5. Your passport
  6. The foreigner identification card number.
  7. A document issued by the government proving your nationality or residence and containing a photograph.

Keep in mind that each bank may require different documents to prove your address, but the most accepted are a lease, a utility bill and a recent bank statement.

In case you are a student, you can prove your address by showing a copy of your registration form.

Once your request has been accepted, you will need to make a deposit to activate your account. Although it is a simple process, depending on the amount of the deposit and the method you use, for example through a bank transfer, the bank may ask you to present certain documents to prove that your money is not related to illegal activities or terrorism. .

For example, to prove the origin of the money, you can present documents such as tax returns, payroll or an account statement in the case of investments or other income.

Open a non-resident bank of america account

How to open an account in the United States At Bank of America? You can open a business account at Bank of America and a checking account at any of its branches either by phone or online.

Regarding eligibility and the required documentation they vary according to the type of property and state where you open your account, since it is possible that you open a commercial bank account in Bank of America if your company is located in any state where there is a banking center of Bank of America.

But the bank only opens commercial accounts if your company is located in the United States where there are banking centers and if your company is related to its international corporate offices.