USA Company Account Opening

In the context of the accelerated development of the global economy, more and more companies choose to register companies and open bank accounts in the United States to expand their business. According to the latest policy, although the account opening process of US companies has been optimized, it still needs to meet strict compliance requirements. Especially in the environment of stricter cross-border financial supervision, companies need to pay attention to account opening materials, fees and process details. This article combines the latest information to explain the core points of US company account opening in detail, and recommends the professional service agency "NEO" to help companies complete account opening efficiently.

Core requirements for US company account opening

Registered agent and local address

According to US law, companies need to designate a registered agent and provide their legal address in the United States to receive legal documents. Companies can pay for this demand through agent service providers to avoid the high cost of renting office space on their own.

Federal Tax Number (EIN) Application

Non-US residents need to apply for EIN (Federal Employer Identification Number) online through the IRS official website and provide a valid US phone number. EIN is a necessary document for opening a bank account, filing taxes and operating in compliance.

Bank account opening materials

Company documents: Articles of Association, Certificate of Registration, Business License (if applicable).

Proof of identity: Shareholder/director's passport, ID card copy and address proof (such as utility bill).

Business plan: Some banks require business model description or financial statements.

Compliance documents: Such as FATCA (Foreign Account Tax Compliance Act) declaration form and FBAR (Foreign Bank Account Report), overseas assets must be disclosed truthfully.

Anti-money laundering and compliance review

Banks will strictly review the source of funds, and companies must keep transaction records and comply with data privacy regulations (such as California CCPA and EU GDPR).

Detailed explanation of account opening process

Select a bank

Mainstream banks include JPMorgan Chase, Citi, Bank of America, etc. Emerging digital banks such as Mercury and Wise support remote account opening, which is suitable for start-ups.

Material preparation and submission

Companies need to prepare the above documents in advance and submit applications through the bank's official website or agency service provider.

Video interviews are becoming more and more popular: Some banks (such as CBI Bank) accept video interviews without the need to visit the United States in person.

Bank review and account opening

The review cycle is usually 1-3 weeks, and the bank will verify the company's background and compliance. After passing, the company can obtain a debit card and checkbook, and some banks support instant account activation.

Account opening fee analysis

Direct cost

Account opening fee: 0-100 US dollars (such as digital banks usually do not charge account opening fees, traditional banks charge 50-100 US dollars).

Monthly fee: 10-25 US dollars/month, some banks can be exempted by maintaining a minimum deposit (such as 500 US dollars).

Minimum deposit: 100-5000 US dollars, depending on the bank and account type.

Indirect cost

Agency service fee: If you entrust a professional agency to handle it, the fee is about 500-2000 US dollars, covering material preparation, process follow-up, etc.

Compliance consulting fee: There may be additional costs for cross-border tax planning (such as transfer pricing).

Why choose NEO?

Professional agency for the entire process

NEO provides one-stop services from company registration, EIN application to bank account opening, avoiding the rejection of account opening due to incomplete materials or process errors (refer to the service model of China-Hong Kong Zhixin and Hong Kong Consulting in the knowledge base).

Efficient video account opening support

Cooperate with mainstream banks in the United States to support remote video interviews, without going to the United States, and shorten the average account opening cycle to 10-15 working days.

Compliance risk avoidance

Professional team assists in handling FATCA, FBAR reporting and tax compliance to ensure that companies meet US and international regulatory requirements and avoid legal disputes caused by missing information.

Transparent fees and no hidden charges

Clear quotations include all service links, no hidden fees, and provide comparisons of multiple bank plans to help companies choose the most cost-effective and functionally matching account type.

Although the threshold for opening a US company account is high, with the assistance of professional institutions, companies can efficiently complete the compliance process. With its localized service experience and resources, NEO helps companies quickly establish US financial channels and lay a solid foundation for cross-border business. If you need further information about account opening details or fees, please contact a professional consultant for a customized solution.