How Long Does It Take to Open a Corporate Bank Account in the U.S.? A Comprehensive Guide to the Process

How Long Does It Take to Open a Corporate Bank Account in the U.S.? Demystifying the Process

For many startups or foreign companies entering the U.S. market, opening a corporate bank account is a crucial step in establishing operations. However, what may seem like a straightforward process can, in fact, be influenced by various factors that add complexity. So, how long does it really take to open a corporate bank account in the U.S.? This article explores the timeline by examining the process, required documentation, influencing factors, and recent industry trends.

1. Overview of the Basic Process

Opening a corporate bank account in the U.S. typically involves the following steps

1. Company Registration Completion

Before opening a bank account, the company must be officially registered and have obtained an Employer Identification Number EIN from the IRS. This is essential for the bank to verify the company’s identity and tax obligations.

2. Choosing the Right Bank

Different banks have varying procedures, services, and requirements. Major banks like Citibank, Bank of America, and JPMorgan Chase generally follow standardized processes, while regional or online banks may offer more flexible options.

3. Preparing Required Documents

These typically include the company’s formation documents, EIN confirmation, articles of incorporation, board resolutions if applicable, identification of authorized signatories, and initial deposit funds.

4. Scheduling and In-Person Meeting

Most banks require the company’s legal representative to visit a branch in person for identity verification and document signing. However, some banks now offer remote account opening options, especially since the pandemic.

5. Review and Account Activation

After submitting the documents, the bank conducts a review process. Once approved, the account is typically activated within a few business days.

2. Timeframe and Influencing Factors

While the overall process generally takes between 3 to 10 business days, several key factors can impact the timeline

1. Completeness of Documentation

If the applicant fails to provide all required documents upfront, the bank may request additional information, causing delays. According to a 2025 industry report, about 30% of corporate account applications were delayed due to incomplete documentation.

2. Bank Review Procedures

Banks vary in their risk assessment and due diligence processes, especially for non-U.S. residents or foreign entities. For instance, Bank of America has intensified its scrutiny of international clients in recent years, leading some account openings to take more than two weeks.

3. Remote Opening Requirements

For business owners unable to travel to the U.S., some banks offer remote account opening. However, this process can be more complex. JPMorgan Chase, for example, launched a Global Business Account Opening Program in 2025, allowing overseas clients to complete the process via video verification and e-signature, with an average processing time of 5-7 business days.

4. Company Type and Industry Nature

Certain industries, such as fintech and cryptocurrency-related businesses, face heightened regulatory scrutiny. According to a Wall Street Journal article from October 2025, some cryptocurrency startups faced rejections or prolonged reviews when attempting to open bank accounts.

3. Recent Industry Trends

In recent years, several notable trends have emerged in U.S. corporate banking

1. Accelerated Digitalization

Driven by the pandemic, many banks have streamlined their online account opening procedures. Citibank, for example, launched a dedicated business account app in 2025 that allows clients to upload documents, schedule appointments, and track their application status in real time.

2. Tighter Compliance Requirements

While digital tools have improved efficiency, banks have not relaxed their anti-money laundering AML and know-your-customer KYC checks. For international clients, banks often require more extensive background verification, which can prolong the process.

3. Flexible Services from Smaller Banks

Compared to large banks, some regional and community banks offer more flexible and faster account opening processes. For example, Comerica Bank, based in Texas, introduced a fast-track service for tech startups in 2025, with accounts opened in as little as three business days.

4. Practical Tips and Insights

To enhance the efficiency of the account opening process, business owners can consider the following

Prepare All Required Documents in Advance

This includes the company’s certificate of formation, EIN confirmation letter, bylaws, passport and visa information of authorized individuals, and proof of address.

Choose Banks with International Experience

Prioritize banks with international departments or a track record of serving foreign businesses.

Schedule Appointments in Advance

Contact the bank early to book an appointment and avoid delays due to scheduling conflicts.

Seek Assistance from Professional Services

Consider engaging corporate registration agents or accounting firms familiar with the banking process. Their expertise can help navigate potential hurdles smoothly.

5. Conclusion

Opening a corporate bank account in the U.S. is not an instant process, but with proper preparation, selecting the right bank, and understanding key milestones, business owners can keep the timeline within a reasonable range. As banking continues to evolve with digital and global trends, the future holds promise for a more streamlined and user-friendly experience.