US Business Bank Account: How to Open

Published on October 22, 2025 and written by Cyril Jarnias

Are you considering expanding your business to the United States? Opening a corporate bank account is a crucial step in this process. Whether you’re an ambitious startup or an established company looking to enter the American market, this guide will provide you with all the essential information to successfully navigate the U.S. banking system.

Keys to Opening a Corporate Bank Account in the USA

Opening a corporate bank account in the United States might seem intimidating, especially for foreign entrepreneurs. However, with proper preparation and the right information, this process can be simplified. Here are the essential steps to follow:

1. Choose the appropriate legal structure: Before you can open a bank account, you must have a registered legal entity in the United States. The most common options are LLC (Limited Liability Company) or Corporation. Your choice will depend on your business goals and tax situation.

2. Obtain an EIN (Employer Identification Number): This tax identification number is essential for any business operating in the United States. You can obtain it for free from the Internal Revenue Service (IRS).

3. Designate a registered agent: If your business doesn’t have a physical presence in the United States, you’ll need to appoint a registered agent in the state where your business is incorporated. This agent will receive official documents on your behalf.

4. Prepare the necessary documents: Gather all required documents, which we’ll detail in the following section.

5. Choose the appropriate bank: Look for a bank that best meets your business needs and has experience with international clients.

6. Schedule an appointment: Most American banks require physical presence to open a corporate account. Plan your visit in advance.

Essential Documents: Prepare Your File

To open a corporate bank account in the United States, you’ll need to provide a series of documents. Here’s a detailed list of generally required items:

• Certificate of formation or articles of organization for your business
• EIN (Employer Identification Number)
• Valid passport or other government-issued identification for all owners and authorized signatories
• Proof of U.S. address (can be your registered agent’s address)
• Banking resolution authorizing account opening
• Business plan detailing your U.S. activities
• Proof of initial funding sources
• Recent tax returns (if available)

It’s important to note that requirements may vary slightly from bank to bank. Some financial institutions may request additional documents, particularly for foreign businesses.

Expert advice: Prepare all your documents in English. If the originals are in another language, have them translated by a certified translator. This will significantly speed up your file review process.

Steps to Create Your Bank Account: A Simplified Process

Once you’ve gathered all necessary documents, here are the steps to follow to open your corporate bank account in the United States:

1. Bank research and selection: Compare offerings from different banks in terms of fees, online services, international support, and geographic presence.

2. Scheduling an appointment: Contact your chosen bank to schedule an appointment. Some banks allow you to start the process online, but an in-person visit is often required to finalize account opening.

3. Documentation preparation: Gather all required documents and ensure they’re up to date and properly translated if necessary.

4. Bank interview: During your appointment, a bank representative will review your documents and ask questions about your business and your U.S. plans.

5. Information verification: The bank will conduct background checks in accordance with AML and KYC regulations.

6. Account approval and activation: Once your file is approved, you’ll receive your account information and can start using it.

7. Online services setup: Set up online access to your account for effective remote management.

Important tip: Be patient. The account opening process can take from a few days to several weeks, depending on the complexity of your business structure and the bank’s efficiency.

Top American Banks: Comparative Advantages

Choosing the right bank is crucial for your business success in the United States. Here’s an overview of major banks and their specific advantages:

• Extensive network of branches and ATMs across the United States
• Excellent online and mobile banking solutions
• Specialized services for international businesses

Key advantage: Chase offers advanced cash management tools and dedicated support for internationally expanding businesses.

• Presence in many countries, facilitating international operations
• Business rewards program
• Easy integration with popular accounting software

Key advantage: Bank of America provides comprehensive banking solutions for businesses of all sizes, with particular expertise in international trade.

• Strong presence in the Western United States
• Specialized banking services for specific industries
• Flexible financing options for growing businesses

Key advantage: Wells Fargo is recognized for its excellent customer service and customized solutions for small and medium-sized businesses.

• Extensive international network, ideal for global businesses
• Sophisticated cash management services
• Efficient cross-border payment solutions

Key advantage: Citibank excels in international banking services, offering a comprehensive platform for businesses operating in multiple countries.

• Specialized in services for startups and technology companies
• Offers innovative financing solutions
• Powerful network in the tech and venture capital ecosystem

Key advantage: SVB is the preferred choice for startups and innovative companies, offering banking services tailored to the specific needs of the technology sector.

Innovative Alternatives: Neobanks and Fintech Solutions

The emergence of neobanks and fintech solutions has revolutionized the banking landscape for businesses in the United States, offering interesting alternatives to traditional banks, particularly for foreign entrepreneurs.

• Specialized in startups and technology companies
• Fully online account opening process
• No monthly fees and high transaction limits

Key advantage: Mercury offers a modern banking experience with powerful API tools for integration with other financial services.

• Corporate credit card with generous limits
• Integration with major accounting tools
• Rewards tailored to startup needs

Key advantage: Brex combines banking services with a powerful credit card, offering a complete solution for business financial management.

• Multi-currency accounts with competitive exchange rates
• Ideal for businesses conducting frequent international transactions
• Simplified account opening process for non-residents

Key advantage: Wise Business excels in international transfers, offering an economical alternative to traditional banking services for global businesses.

These fintech solutions can be particularly attractive to foreign entrepreneurs due to their flexibility and modern approach to corporate banking. However, it’s important to note that they may have limitations in terms of traditional banking services, such as cash deposits or paper checks.

Expert advice: Consider a hybrid approach by combining an account at a traditional bank for basic banking services with a fintech solution for specific needs like international transactions or advanced cash management.

Challenges and Considerations for Foreign Entrepreneurs

Opening a corporate bank account in the United States as a foreign entrepreneur presents unique challenges. Here are the main points to consider:

1. Physical presence requirements: Many traditional banks require physical presence in the United States to open an account. This may require travel or using a representation service.

2. Thorough background checks: American banks conduct rigorous background checks on foreign owners and businesses. Be prepared to provide detailed documentation about your business history and the origin of your funds.

3. Language barrier: All documents generally need to be in English. Make sure you have certified translations of all your important documents.

4. Understanding U.S. regulations: Familiarize yourself with American banking laws, including tax reporting requirements for foreign businesses operating in the United States.

5. Account maintenance: Some banks may have minimum balance or activity requirements for foreign business accounts. Make sure you understand these conditions to avoid fees or account closure.

Recommended strategy: Consider working with a U.S.-based business attorney or accountant who can guide you through the process and potentially act as an intermediary with banks.

Optimizing Your American Corporate Bank Account

Once your account is open, it’s crucial to use it effectively to maximize benefits for your business:

1. Integration with financial management tools: Connect your account to accounting software like QuickBooks or Xero for real-time financial tracking.

2. Using online services: Familiarize yourself with your bank’s online and mobile platforms for effective remote management.

3. Currency management: If your business operates internationally, leverage the foreign exchange and multi-currency management services offered by your bank.

4. Establishing credibility: A U.S. bank account can strengthen your business credibility with American partners and clients.

5. Tax planning: Work with a tax expert to understand the tax implications of your banking activities in the United States.

Optimization tip: Explore corporate credit card options offered by your bank. They can provide valuable benefits like loyalty points, purchase protections, and help establish a credit history for your business in the United States.

Conclusion: Your Springboard to Success in the United States

Opening a corporate bank account in the United States is a crucial step for any foreign entrepreneur looking to establish themselves in the American market. Although the process may seem complex, with proper preparation and the right resources, it becomes a springboard to new growth opportunities.

Remember that choosing the right bank or financial solution depends on your specific needs. Whether you opt for a major national bank, a specialized regional bank, or an innovative fintech solution, the essential thing is to find a financial partner that understands and supports your business goals.

By following the detailed steps in this guide, carefully preparing your documentation, and staying informed about U.S. regulations, you’ll be well positioned to successfully navigate the American banking landscape.