Open a Bank Account in USA

Updated on Saturday 13th November 2021

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Foreign residents wishing to open a bank account in the USA must comply with certain formalities imposed by banks. While some allow you to open an online bank account as a non-resident, other banks are stricter and prefer the physical presence of the person interested in these services. Discover in this article what are the steps to follow to open a bank account online in USA, with the mention that our company formation agents in USA can help you with all the necessary formalities and documents.

From what age can you open a bank account in the USA?

If you want to open an online bank account in the USA you must be at least 18 years old and be a resident of this country. The chosen financial institution will ask for information about the social security number, personal ID or valid passport, and even the driver's license. These are the most important documents that the bank can request when you want to open a bank account in US from abroad or by any other method, to which are added the standard forms. One of the local agents in the USA can help you with all the formalities to open a bank account online in USA.

How to open a bank account online as a non-resident in USA

Foreign citizens can open a bank account online as a non-resident in USA with fairly simple formalities, but not all such institutions offer such a service. However, it is quite simple to benefit from a non-resident bank account in USA. The online platform of the chosen bank must offer simple steps through which a bank account can be opened, and among these we list:
  •  Filing personal documents such as ID or passport.
  •  Completing the social security number.
  •  Information about the type of account you want to open.
  •  The reason you want to open a bank account in USA. Some might need a back account for opening a company in the USA.

Some financial institutions may also request information about the source of income if the account will be used more for deposits. In addition, those interested in how to open a bank account in US from abroad cannot travel to this country, therefore, it is much easier to make it online. More about how to open an online bank account as a non-resident in USA can be discussed with our agents. We are here to help you start a business in USA and also open a bank account.

Is a minimum deposit required to open a bank account in the US?

Normally, banks may require a minimum deposit of USD 25 to activate the account, if the documents are accepted. However, there are banks that do not require a minimum deposit but their requirements must be analyzed before opening a bank account in US from abroad. Moreover, you can choose the services of our local agents who can also provide support for those interested in how to open a US bank account from Canada.

How to choose the right bank for your needs

Although it may seem difficult to choose a bank to work with in the future, either for personal interest or for the company, things are quite easy. What you need to consider in choosing the financial institution are the types of services offered, the simplicity with which deposits and transfers are made, the easy use of the online platform offered. In addition, you should consider the fees charged for various services. A tip in this direction would be to analyze each bank offer and find out if the bank has branches in your area of interest.

Those who want to open a US bank account from Canada can contact our specialists. Certain formalities may be different from the usual ones for US residents, so we invite you to talk to us and find out all the details.

Why invest in the US

The United States is the strongest economy in the world, closely followed by countries such as China, Japan, and Germany. Considered the "Land of Opportunities", the USA is indeed the country where anyone can develop a business, regardless of the chosen field. An experienced, multilingual, and young workforce is one of the strengths offered by the US to foreign investors. Moreover, the business climate is optimal, and the legal system is a transparent one that offers equal rights to those who want to invest in USA, regardless of the country of origin. And to give you an idea of the US economic direction, we present the following statistics:
  1. The United States was ranked 6th out of 190 global economies in terms of business climate, according to the Doing Business report for 2020.
  2. In terms of total FDI stock, the US recorded over USD 10.8 trillion in 2020.
  3. In 2019, most foreign investments were absorbed by the manufacturing sector.

We invite you to contact us if you want to open an online bank account in USA. Our agents can also help you open a company in USA.