We work mainly with 2 banks, an online bank, and a Fintech in the USA:
- Bank A – a top 4 bank in the US
- Bank B – a top 15 bank in the US
- Online Bank C
- Fintech D
Unless you have an overriding preference, we will use the banking option that is most open to your company profile for a quick and easy account opening. You will have to be onsite at the bank in Orlando to open the account for Banks A/B.
A Fintech is a new alternative option to traditional banks that offers greater ease in opening a bank account, but cannot offer other traditional banking services like financing. The Fintech provider we have selected is a 100% online banking operator licensed in the US and several countries. It offers a bank account in multi-currency while banks A and B can only offer an account in USD.
Attention: you have to have an Employer Identification Number (EIN) for your company in order to open any type of bank account (banks A / B or Fintech), and this will take about 3 weeks from the registration of your business. You will also require a US mobile phone number to receive SMS messages from banks A and B.
| Bank A | Bank B | Online Bank C | Fintech D |
|---|---|---|---|
| -Min. deposit to be made within 30 days of opening the account and average daily balance to maintain on the account: USD 1,500 (otherwise USD 12 fee per month). -E-banking available: Yes, free. – Bank card: Free. Withdrawal limit of USD 2,000 per day (no monthly monthly). No payment limit for purchases. The bank card is sent to the head office of the company and we will send it to you by express mail worldwide. -Account management fees: Free. -Timeline for account opening: immediately at the appointment with the banker. -Timeline for e-banking activation: immediately at the appointment with the banker. -Remote opening: No. Attention: this bank does not accept pre-validation of documents of the company before the appointment, so there is a risk that your application can be rejected during the appointment (unlike Bank B). E-commerce / drop-shipping activities are not accepted. | -Min. deposit to be made within 30 days of opening the account and average monthly balance to keep on the account: USD 5,000 (otherwise USD 11 fee per month). -E-banking available: Yes, free. -Bank card: free. Withdrawal ceiling of USD 5000 per day (no monthly cap). No payment limit for purchases. The credit card is sent to the head office of the company (we send it to you by express mail worldwide. -Account management fees: Free. -Opening times of the account: immediately at the appointment with the banker. -Activation time of e-banking: immediately at the appointment with the banker. – Remote opening: No. | -Min. deposit to be done within 30 days of opening the account and average monthly balance to keep on the account: no minimum. -E-banking available: Yes, free. – Bank card: Free. Withdrawal limit of USD 1,000 per day (limit of USD 4,000 per month). Payment limit of USD 2,000 per purchase (limit of USD 10,000 per month of purchase payments) -Account management fees: Free. -Account opening time: approximately 1 week. -Activation time of e-banking: immediate with the activation of the account. -Remote opening: Yes. | – Min. deposit to be made within 30 days of opening the account and average monthly balance to keep on the account: no minimum. – E-banking available: yes, free. – Bank card: free. Withdrawal limit of USD 1,000 per day (ceiling of USD 30,000 per month). Payment limit of USD 10,000 per day (purchase payment limit of USD 300,000 per month) – Account managementfees: free. – Account opening times: around 1 week. – Deadlines for activating e-banking: immediate with account validation. – Multi-currency account: yes. – Remote opening: yes. |
Required Documents for Opening a Bank Account
We will assist you in making appointments with banks A or B, and will accompany you in the meeting. For Fintech, the file is submitted online (no travel in the USA required).
To open a bank account, you have to provide your:
- Original passport (the one with which you entered the USA for banks A and B).
- Proof of address: Utility bills dated less than 2 months. A certificate of residence issued by a city council, or consulate, etc. is not accepted.
- For Bank A only: a second photo ID (national ID card, driver’s license, etc.).
Neither the Companies Register nor the banks ask for a business plan, bank statements, proof of activity, or a CV, etc.
Please note that our services for assistance with opening a bank account in the USA are only available to companies that have been registered by us. We systematically refuse customers who have registered a company with another agent.
In accordance with the Know Your Customer (KYC) regulations, we are required to ask you:
- what will be the activity of your future company,
- the profile of your customers and suppliers, and
- your professional experience.
These elements are for our internal use only in order to protect ourselves and our customers.