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Should I Visit USA to Open a Bank Account?

Should I Visit USA to Open a Bank Account?

03.12.2020 15:07 by Clemta

In this text, how to open a bank account, who can open a bank account and other crucial details about opening a bank account in the United States are shared.

Why Open a Bank Account in the United States?

Opening a bank account in the US, offers you several advantages, including much easier money withdrawing and transferring activities, especially across the continent. Due to anti-money laundering and anti-terrorism laws in the US, opening a bank account as a foreigner and non-resident will require much complex application and paperwork processes. 


Can Anyone Open a Bank Account in the United States?

As an applicant, holding a valid Social Security Number (“SSN”) will ease the whole process of opening a bank account. Holding an Individual Taxpayer Identification Number (“ITIN”) will also ensure a much easier application process, considering you have already interacted with the IRS. In most cases, however, you will be able to apply to open a bank account, yet the bank still wants to meet you in person in order to complete the process, due to the Know Your Customer (“KYC”) practices. 


Do I Have to Have a Bank Account in the United States?

There are several online services that help you to make financial transactions across the globe, including services like TransferWise and Payoneer. Such services will mostly meet your daily transaction needs, depending on the size of your financial operations. 


How Can I Open a Bank Account in the United States?

As an incorporated entrepreneur, you will have your Employer Identification Number (“EIN”) after the filing of required IRS forms and procedures. Having an EIN will allow you to open and operate a traditional bank account in the US, yet a corporate one. Your corporate bank account regarding your company will meet your corporation’s financial operation needs. KYC rules will still apply in some cases, so applying through a global banking institution which you already have transaction history, will get your chance a bit higher. Including to obtain an EIN, Clemta offers a complete consultancy in terms of your incorporation and post-incorporation procedures. You may check our website and add required services to your cart by one-click, as your first step of the incorporation phase. Clemta will handle the rest for you.