View Full Version : Bank Account for foreign business

11-24-2008, 08:41 PM
Does any one know how a company from a foreign country(India) can open a bank account in USA.

There is a possibility to register as a company in US and then apply for business account. But being still on H1 dont feel comfortable to register a company in US.

Are there any other ways a company in foreign country can open an account in USA to do the business at least to get the payments from the US customers.

Are there any suggestions to specific banks like wells fargo or so that would help in the process?

How about credit unions like DCU? Do they offer such provisions?

Any thoughts on this would be greatly appreciated..

11-25-2008, 12:08 AM
I don't think one can open a account from india in US bank. However i had visited a website which says that anyone in the world can do business from USA. I tried it but did not.

I am in H1B and i opened a business account in USA. The procedure is to get a fititcious businesss name from the citi and open a account in any of the banks. Later apply for a business license from the city. Every year you will have to file tax return (i do it on the month of december). It is very easy and consulars help over there. Additionally you have a advantage to talk to any of the SCORE/SBA members and improve your business.

Regarding opening a business account, Wells fargo charges $10/- every month and later if you talk to them about low activity account they will charge you $8/- per month. Citibank needs a lot of information and they charge $10/- a month. I had avoided citibank after spending 3 hours interacting with the teller. The best is Washington Mutual (which is Chase now). there is no charge and i think they need atleast one transaction every year.

Hope this helps.