Open a US Business Bank Account for a Non-Resident

If you’re struggling to open a US business bank account as a non-resident of the US, you’re not alone.

Account opening in the US can be a frustrating process, especially for foreign business owners. This is because not all banks in the US will open accounts for foreign and non-resident businesses.

And, even the banks that do, typically have strict onboarding processes that can seem impossible to navigate.

Fortunately, with the right account opening strategy, it is entirely possible to open a business bank account in the US.

So, if you’re looking for help on where to start, read on below as we outline the step-by-step process to successfully open a US business bank account as a non-resident.

How to Open a US Business Bank Account for a Non-Resident

To open a US business bank account as a non-resident, you will need to find a bank that accepts your business type. Then you need to meet the bank’s specific requirements. Read on for our best advice on how to open an account successfully.

We’ll cover all of that and more in this article. Here’s a look at everything we’ll cover…

Step 1: Can You Open a US Business Bank Account as a Non-Resident?

Before you invest any time in the process, you want to know whether or not it’s even possible to open a US business bank account for a non-US-based business.

The good news is that it is entirely possible!

The bad news is that it’s not possible with all US banks. Only a few accept non-resident businesses. And even then, whether or not you will be accepted depends on the type of business you have, the industry you’re in, where the business is registered, and much more.

So, before applying, you need to understand which types of businesses a bank caters to and whether or not your business fits the profile.

To help you get started, let’s look at the types of non-resident businesses that can open US business bank accounts.

Businesses That Can Open a US Business Bank Account as a Non-Resident:

US companies owned by non-residents (including Foreign-owned US LLCs)
Foreign companies that serve customers in the US
Foreign companies that have suppliers in the US
US companies with no US operations
Foreign or offshore companies with no US operations

As you can see, there are options for many types of businesses. Even foreign companies owned by non-US residents without customers, suppliers, or anything to do with the US.

If you have zero ties to the US, it will be harder to find a bank that will accept you and harder to justify the need for the account… but it’s not impossible.

Of course, even though these businesses can open a US business bank account, it doesn’t mean account opening is guaranteed.

But if you stick with us, we’ll show you the ins and outs of the application process to maximize your chances of successfully opening a US bank account for your business.

But first, why would you want a US business bank account anyway? Let’s go over the benefits you can unlock when you open a US business bank account as a non-resident.

Step 2: Determine If You Should Open a US Business Bank Account as a Non-Resident

A key factor to successfully opening a US business bank account as a non-resident is to choose a bank that offers the benefits you’re after.

And, just like not all banks accept foreign non-resident businesses to open accounts, not all banks offer the same benefits.

Which in fact, adds an extra layer of difficulty to the process of choosing the right bank.

However, with the right information, you can find the ideal US business bank account for non-residents and unlock the following benefits…

Benefits of Opening a US Business Bank Account for Non-Residents:

Easier access to US suppliers and contractors
Ability to reach US customers
Remote account opening (available only in some banks)
Don’t have to provide proof of US ties (available only in some banks)
Access to low-cost payment processing systems
Deposit insurance of $250,000 (amount varies by bank)
Access to reliable and credible banks
Can build US credit history
Access to profitable and attractive US credit cards

As you can see, opening a US business bank account for non-residents can be extremely beneficial. Not to mention, it can open the door to new opportunities you can’t access in your home country.

Opening an account here gives you access to both high-quality banking services and also some of the best and cheapest payment processing options for businesses on the market today.

But, the top benefit many non-resident business owners are interested in is access to US credit cards.

Not only can you build a US credit history when you open a business bank account, but you can unlock attractive and profitable rewards with US credit cards you can’t access anywhere else in the world.

We share the step-by-step instructions on how to unlock the attractive rewards offered by US credit cards in our premium members-only report “US Credit Card Strategies for Foreigners and Non-Residents”. If you’re interested in learning how to apply for one today, this report is for you!

Now, the benefits available to you will depend on your client profile and specific banking needs. And of course, as mentioned, which bank you choose to open with specifically.

So to unlock any of these benefits, including US credit cards, you need to have a solid account opening strategy. And that all starts with choosing the right bank to open with.

Here’s how to do just that…

Step 3: Choose a Bank to Open a US Business Bank Account With as a Non-Resident

An important part of your account opening strategy is understanding your client profile, desired banking needs, and the requirements you can meet. All of these factors are key to choosing the right bank to apply for a US business bank account with as a non-resident.

That said, if you choose the wrong bank, you’ll likely be rejected right at the door. And even if you do manage to start the account, you may find you don’t have access to the benefits you were looking for. Or even worse, you could be stuck watching as your money is stolen little by little through unexpected charges and fees.

Let’s make sure that never happens to you!

To make sure it never does, here are some questions to ask to determine whether or not you’ve chosen the right bank…

Questions to Ask When Choosing a Bank to Open With:

Does the bank cater to your client type? (eg. clients with your citizenship, residency, business industry, business type, etc.)
What is the account opening deposit?
Does the bank charge a monthly maintenance fee?
Does the bank charge any other account fees?
Will the bank open US business bank accounts for a non-resident remotely?
Does the bank offer the banking services you require?
Are there any account restrictions on the type of account you’re looking to open?
Does the bank offer deposit insurance?
Does the bank offer all the benefits you’re after?
Will you be charged for making international transactions?
Will you be charged for withdrawing money internationally?
Can you meet the bank’s specific account opening requirements?

Yes, it’s a long list. But it’s crucial to ask yourself and your bank all of these questions before settling with a bank.

In fact, the last question is one of the most important questions to ask. Especially since it lays out what you will need to open a US business bank account as a non-resident. And it will show you right away if this bank is the right fit for your client profile.

So, with that in mind, let’s look at what non-residents need to open a US business bank account.

Requirements to Open a US Business Bank Account as a Non-Resident:

Bank-specific application forms
Two forms of government-issued identification (business owners & all directors)
Employer Identification Number
Articles of organization
Reason for opening an account in the US
Account opening deposit (varies by bank)
Proof of company address
An acceptable US address (not at all banks)
Proof of US phone number (not at all banks)

Of course, account opening requirements will likely vary from bank to bank, branch to branch, and even banker to banker.

This is why it’s extremely important to understand a bank’s account opening requirements for your specific client profile before beginning the application process.

Otherwise, you will be turned away and you may not have another shot at applying with that same bank.

So, to ensure you can successfully open a US business bank account as a non-resident, let’s discuss the common challenges you may face in the process.

Step 4: Overcome the Challenges of Opening a US Business Bank Account for Non-Residents

Opening a bank account as a non-resident, whether it’s in the US or other banking jurisdictions, can be an extremely challenging process to navigate.

And going in without the proper preparation can end up being a huge waste of time and money.

This is especially true if you don’t know which US bank will accept your client profile. Which in fact, is one of the biggest challenges foreign business owners face.

So, before applying, it’s important to be aware of the potential challenges you could face during the account opening process. That way, you’ll know how to overcome the challenges of opening a US business bank account as a non-resident when applying.

Let’s take a look at these challenges now…

Challenges of Opening a US Business Bank Account for Non-Residents:

Don’t know which bank accepts your client profile
Unable to navigate the strict onboarding process
Unable to meet deposit requirements
Unaware of the hidden account opening quirks
Unable to find a bank that offers remote account opening
Mistakenly choosing a bank that requires proof of ties to the USA
Difficulties opening without a US phone number
Unable to provide an acceptable US address
Choosing a bank that doesn’t accept non-resident businesses
And more…

Understanding how to navigate these challenges is a crucial part of knowing how to open a US business bank account as a non-resident. In fact, it is a critical factor in whether or not you can successfully open a bank account here.

Luckily, nearly all of these challenges can be overcome by having a strong account opening strategy.

But, this means taking the time to pick the right bank for your client profile and preparing yourself for the application process.

Read on below to see how you can prepare an account opening strategy today.

Step 5: Open a US Business Bank Account for Non-Residents

Developing a strong account opening strategy all starts with finding the right bank. More specifically, one that serves your banking needs and will accept your client profile.

Because with the right bank, everything will be smoother from there.

So, to help people find the right banks for them and their businesses we’ve put together a comprehensive database of all the best US banks. And we’ve even done the legwork to see which ones will accept foreign non-resident businesses.

In many cases, a bank may not have an overall policy to accept foreign non-residents, but certain branches or bankers within the bank will.

If you’re interested in opening a US business bank account as a non-resident, there’s no better way to get started than with GlobalBanks USA.

With GlobalBanks USA you’ll find all the information you need to find the best bank for you, learn the ins and outs of applying, and get the direct one-on-one support you need to find and open accounts with real brick-and-mortar banks successfully.

And, if there are any specific account opening requirements you know you’ll have difficulty meeting or you’re unsure whether or not you can overcome certain challenges, we can help you through every step of the process.