An open saving account in a US bank allows you to easily make money transfers between American companies and companies around the world, make purchases, pay for services, and make transactions between companies within the country and abroad. Having a bank account in the United States, you can link your corporate account to PayPal, Square, Paymants Cloud, ApplePay, Cayan; online platforms Amazom, Ebay. Also, link your bank account to crowdfunding platforms, which is mandatory, such as Kickstarter, IndieGoGo, RocketHub. You may also provide freelance services in America, receive and manage funds in a bank account.
If you want to open a company in the USA, develop software, create an app and place it in the Apple Store, open a travel agency or online sale of tours, online trade on Amazom or Ebay, online store, transport services, beauty salons and other types of services, you cannot do this without a US bank account.
Engaging in any kind of activity in America cannot do without a bank account. It is necessary to make a profit, pay expenses, pay salaries to employees, pay taxes and fully cooperate with partners.
Types of accounts in American banks
Checking. It is used for transactions between companies, payment for goods and services, payment for fuel, payment of expenses, payment of salaries and taxes. For convenience, a debit card linked to a corporate account is issued to a checking account.
Saving. It is used for savings. This type of account is considered safer, since it is not bound to a plastic card. You can make transfers both from a checking account to a savings account and vice versa. From a savings account, you can also make transfers to pay for services, including.
Checkbook. It allows you to transfer money from a corporate account by issuing paper checks. Checks can be used when settling with suppliers, in many retail outlets, banks between other people. Each check sheet bears the bank’s watermarks and account numbers.
Debit Cards. It is bound to a corporate checking account. The cards can be used in many retail outlets, to purchase goods and services. The debit card will show the name of the company and the name of the cardholder.
Banking priorities in the USA:
- Deposit insurance. US law provides for compulsory insurance of funds in the event of bank bankruptcy.
- Convenience. A resident and non-resident of the United States can open a bank checking account. Account opening takes place within one day.
- International banking transactions with minimal fees (compared to most banks in other countries).
- Bank secrecy preservation.
- Remote access and control. Almost every bank in America offers to manage an account using online banking. The client can manage deposits from anywhere in the world.
- Lack of stringent requirements. For opening a saving account, it is enough to present an identification document and documents of a registered LLC or Corporation C.
- Low service rates.
Account in the USA for non-residents
- Due to the increased level of terrorist threat, many banks in America have restricted the registration of bank accounts remotely.
- To comply with federal laws, one of the mandatory and important rules for American banks is the Customer Identification Program.
- Banks want to see the client in person. A personal visit to a bank in the United States is required.
Account opening cost
Opening a bank account, online banking + debit cards at Bank of America.
Bank of America has more than two hundred years of history in the United States, dating back to the state formation in 1784. Today the Bank is a world-renowned institution that serves 47 million customers.