The United States is the leading global trader and the world’s largest economy. Many international businesses are looking to open a U.S. business bank account to streamline their operations.You may be wondering. Can I open a U.S. business bank account as a foreign entity?Can I open a U.S. business bank account as a non-resident?Am I eligible to open a business bank account in the USA online? or Can I open a U.S. business bank account from abroad?What is the procedure to open a business bank account in the US?
These are some commonly asked questions that every business owner is curious to know.
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What do the Statistics Say?
There is no denying that the United States represents largest and most integral economy in the world with a 20% economic output globally. Despite the global economic crisis, the US’ GDP has been rising steadily. Renowned entrepreneurs are eager to start a business in the USA. Interestingly,there are nearly 28 million small businesses in the US that account for nearly a third of all sales in the country? Yes, you heard it right. Isn’t it amazing? Make sure to read on till the end to find out how we can help you.
How One Can Open a Business Bank Account in the US?
With the evolving pace of technology, it becomes essential to adopt the global picture.If you don’t know how to proceed, worry not! We’ve put together this comprehensive guide to help you get closer. Let’s proceed.
Types of Accounts: There are 3 main types of accounts that you can go ahead with.
- Checking Account
- Savings Account
- Credit Account
Types of corporate entities in the United States that you can set up are
- Sole Proprietorship
- Limited Liability Company (LLC)
- S Corporation
Requirements for Opening a Business Bank Account
If you are ready to make a big change in your professional life, you need to know exactly what it takes for opening a business bank account. Already struggling to Send Money to The United States. Not Anymore! Tamsey is your reliable partner. With the help of Tamsey application, it becomes easier, safer, and faster to send money overseas. Download the app today!
Below are the requirements for opening a business bank account in the US:
- Bank Application
- Business License
- Tax ID & Personal identification
- Ownership agreements
- Monthly credit card revenue
Benefits of Business Bank Accounts
There are many reasons why it could be beneficial for your business to open a business bank account in the U.S. Above all, it will provide your business easy access to the world’s leading economy directly.
Having opened your US business bank account, you get benefited from the following:
- Protection & Purchasing power
- Relief from high currency-exchange fees of online payment systems
- Easily get SWIFT &routing numbers of US bank
- Enjoy online banking on your mobileright away
- Make electronic payments
- Receive incoming domestic and international wires
A business bank account is a must if you’re thinking about growing your business profitably. Though it may seem complicated, once you start following the rules, the process becomes easier. However, for any help with international payments, Try Tamsey, a secure, faster, and reliable way to Send Money to The United States. What works for someone else’s business may not be ideal for you, so take some time to figure out which bank suits you the best.
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