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Any foreigner can open account in USA?

Discussion in 'Business & Tax Advice' started by BigBuddy, Jul 29, 2012.

  1. BigBuddy

    BigBuddy Account Under Review

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    Hi,

    For my new company, I need a USA bank account. Is it possible for any foreigner, to open account in USA using virtual office address?

    If yes, what will be the formalities?

    Thanks,
    BB.
     
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  2. theAngle

    theAngle Junior Member

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    After 9/11 only residents may open bank account.
     
  3. redclover

    redclover BANNED BANNED

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    I have seen three sources of people selling USA Bank Accounts that are legitimate
    with a ATM Debit Card. It is a checking account to. So I am not sure how they are
    pulling this off but I know it is not a scam and it is real.

    RedClover
     
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  4. techcrunked

    techcrunked Regular Member

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    can you hook me up with these people? i am looking for a similar setup. to get a us bank account, hookit up with a paypal and use a debit card or something to withdraw money from my own country.

    but wont it raise a red flag when i withdraw money from my country consistently without ever withdrawing within the us?
     
  5. xhizor99

    xhizor99 Junior Member

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    From my knowledge, yes you can open a back account in the US even if you are not a citizen or resident. There are quite a few online services that do this for you. If I remember correctly there was a BST on this forum selling verified US PP accounts that had a bank account attached to them.
     
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  6. bertbaby

    bertbaby Elite Member

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    Personal accounts appear to have different requirements but a business account requires the following:

    Physical address in the U.S.

    A U.S. bank will not open a business account without a U.S. physical address. Sometimes the bank will accept the street address of a Registered Agent, otherwise known as a Registered Office. Banks are usually accommodating on this requirement, especially if your type of business is one in which having a physical branch is impractical, for example a company that does business mainly over the Internet.

    Some banks, like HSBC, also require that the U.S. physical location be within a certain distance (e.g. 10 miles) of the bank branch at which you open the business account. For example, you cannot open a business account in New York if your U.S. physical address is in California.

    EIN - This is also known as a federal employer identification number. This number is required by all banks to open a business account. The basic reason is that the bank (and yourself) have tax reporting requirements to the Internal Revenue Service (IRS) based on your account information, and the EIN is required as the reporting identification number.
     
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  7. Nitros

    Nitros Power Member

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    You are probably talking about this thread ;)
     
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  8. virtual.indiano

    virtual.indiano Regular Member

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    Big Buddy ask Greg and he will sort you for this ;)
     
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  9. Legolik

    Legolik Registered Member

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    if you're client of Citibank by at least 6 months,they will open you US account without problems...at least 6 months in my country so it can take more or less time and can also depends on being business or personal client...just ask them ;)
     
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  10. closedCaption

    closedCaption Regular Member

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    You can open an account without any problems, but you will surely go through KYC process.
    I also think that you will need SSN, or as a foreigner ITIN (same thing, but for foreigners),
    and that can be easily obtained from IRS online.
    Just one curios question, doesn't payoneer bank account satisfy your needs?
     
  11. commenting shop

    commenting shop BANNED BANNED

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    I also need an US Verified Bank Account for my paypal. Paypal is not in my country so i need a US bank account with debit card for withdrwal money in my country easily.. Anybody have let me know..?
     
  12. rxcash

    rxcash Registered Member

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    To get an US bank account , no matter who says you , you HAVE TO BE PHYSICALLY be present in the bank to sign the papers.
    ONLY then they will ope the account for you.
    So if you are prepared to fly there for the account then its ok.

    Any one who claims they can open the bank account without your presence , I would warn to be careful as they ultimately will not be able to do it , or will get you account in a very shady bank or limited access.
     
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  13. Lutherblissett

    Lutherblissett Regular Member

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    From my understanding RXcash is correct. You maybe able to go the LLC route but with a registered agent and licensing fees and documentation it will probably cost you anywhere from $250-$500 min. Then you must file your taxes every year, and pay application fees each year. (+300-500 yearly). Then there are 1 million online scams that hustle people trying to get these accounts, and tons of other ways to lose money (getting nickled and dimed).

    All other older methods that used to work are squashed (e.g - stuff like stock selling accounts - think it was etrade or charles schwab). Those days are done.

    At the end of the day, if your making money online get a visa squared away, fly into any major US city, and create a bank account (create 5) in a day by stopping into banks and having proper ID and some money to deposit.

    Any foreigner anywhere can create a bank account if they walk into the bank. As for creating a bank account from abroad, at the end of the day its probably going to cost you more than the flight.
     
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  14. Kiopa_Matt

    Kiopa_Matt Registered Member

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    Much easier said than done these days. Blame the Patriot Act for that one, but if you're outside of the US, you'll have a bit of an uphill battle opening a US bank account.
     
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  15. infoasian

    infoasian Supreme Member

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    Your company needs to be a US entity to be able to open corparate accounts. Normally, your bank needs to be within the same US state. Non-US registered entities can not open corporate accounts there, however natural person can open accounts. As mentioned you will need to travel to USA to open account in person. If you are a premium customer with banks like GS, Citi or HSBC you can open frm your home country.
     
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  16. rxcash

    rxcash Registered Member

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    Absolutely,
    I enquired from HSBC and CITI , both said , if you have an account with them in your home country, then they can assist you open the bank account in USA without your personal presence in the bank ( IBC kind of thing ) but it depends upon case to case basis , hence the bank in your home country should recommend you strongly with a positive note to the USA branch so that they can share the KYC documents and get the account opened up Remotely.

    The benefit of this ??
    1) You save TIME and MONEY on travel ( unless you wish to ) :)
    2) You get the paper works done easily ( most of which the banks exchange without asking you for them )
    3) The money from your US bank account can easily be routed to your home country.

    4) This benefit depends upon the State which you choose for your INC / LLC ( Tax Benefits )

    Hope this further helps you :)

    In case any more help needed you can contact me on PM
     
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  17. closedCaption

    closedCaption Regular Member

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    Ok, I see that Payoneer virtual bank acc doesn't work for you guys, but what about this: https://www.accentcommerce.com/

    They have been around a looong time, their expenses are a bit high and they don't accept all countries, but last time I heard they
    would open bank account for non-resident without physical presence.
     
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  18. N1ckG2

    N1ckG2 Regular Member

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    Why US? Do you want IRS look into your bank account?
     
  19. MrZOMGImAwesome

    MrZOMGImAwesome Junior Member

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    So Just a question guys. I am in Canada, so If I drive down to the US, and walk into a a bank and show my Canadian ID, they will let me open an account? Or am I missing something....
     
  20. infoasian

    infoasian Supreme Member

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    It's up to the bank. It helps to have a US postal address to receive all products like debit cards, etc. Normally, cards can't be mailed outside of US.