How to open a USA Business Bank Account without visiting the USA

So as an entrepreneur, you are planning to add your business in the next trillion-dollar economy in the world, yes it’s very clear to you; having a local banking account will build a financial presence in the USA and then you will transact with the American people, clients, and suppliers. But now you must be thinking about how to open a US business bank account from outside the US and company registration in USA.

And the good thing is that now you can open up a US business bank account and register a company in the USA without having to set foot in any of the American states. This post is going to show you exactly how and what you need to do to get the US business bank account up and running.

The Right Bank

Not all US banks provide the creation of accounts for International businesses, so you shall be selecting the bank which has experience with International clients and offering the opening of accounts online. Some of the International business banks are Wells Fargo, Bank of America, CitiBank, JP Morgan Chase, and Silicon Valley Bank.

Gathering Required Documents

To open a bank account for your business in the United States without visiting the country, the following are the documents you need to provide for document verification of personal and business identity:

– Business registration documentation such as Articles of Incorporation and Business License

– Business federal tax ID number (EIN)

– Proof of business address such as utility bills or lease agreement

– Passport and identification for all beneficial owners and signers

– Documentation in-country of business operation: a website, contracts, and invoices

Register with the IRS

Since you are a non-US resident, you must register the business with the Internal Revenue Service to get an Employer Identification Number. You can apply for the same online on the IRS site. An EIN is an absolute necessity for tax purposes and opening a U.S. business bank account.

Apply for a Bank Account

With all the relevant documents and the EIN number, it’s time to proceed with the application for a bank account. Most of the banks now have an online application portal where one can upload the required documents and submit the same. The process is simple, although it’s always good to have your scanned copies at hand and ready for upload.

Once the application is submitted, the bank verifies the submitted documents against the person. This process may take from a few days to a couple of weeks. So, relax and don’t panic if you’re questioned with further documents; it’s all part of the verification process.

Activating the Account

Once you submit the form, a bank representative, if the application was approved, will be sending an email regarding how to go about activating your account. More so, you most likely will need to make a deposit, and with wire transfer, this can be easily done.

Benefits of Remote Account Opening

Opening a US business bank account without a physical presence comes with the following benefits:

– Convenient: One can apply for an account, regardless of his place in the globe, and visit the USA for physical account opening.

– Time-saving: Online application is way faster and more effective in a process that may mean the traditional way.

– Economical: Saves the money one would spend on traveling and other costs by visiting the USA.

– Access: you will be allowed to access and manage your account online; updating your financial records and executing a transaction becomes more accessible.

Tips and Advice

– Make sure you have all the necessary documents/ papers and records you supply into the application.

– Have you prepared to answer some questions surrounding the nature of the business and how you conduct it.

– Examine the cost charged to the bank account and the value of the transaction exchange doing business internationally.

Provide your account details with security, and do not share the details with anyone

Conclusion

Remote opening of a US business bank account and company registration in the USA is both convenient and an effective way to make your financial presence in the US market. Following the above-mentioned steps, one is likely to succeed in remotely opening a US business bank account without visiting the USA. Make sure, therefore, that you have the right bank, all necessary documents gathered, and IRS registration completed, then continue the application process for the bank account online. With a little patience and hard work, you’ll be managing your US business finances in no time.

But really, why go through all that trouble of doing it yourself? And with the E-StartupIndia team at your side, you’ll find the entire process easy and hassle-free in setting up a US business bank account remotely, accompanied by the process of company registration in the USA. Our services include documentation, full support in IRS registration, application for bank accounts, and much more. We’d put in the hard work for you by taking off the heavy lifting so you can focus on the business. Call us today at 888-1069-069 to see how we can help!