Banking in the USA

The first step to open a US bank account is to know the type of account you want. Do you want a personal or business bank account? This is important because there are different requirements for each. Also, the requirements vary from bank to bank. Note that, some banks allow business accounts to be opened remotely, but personal banking typically requires an in-person visit.

In general, if you’re trying to open a either a personal or business account with a brick-and-mortar US bank (remotely), you should expect to deposit between a few thousand and few hundred thousand. Yes, that’s a big range. 

Most individuals and business can access real brick-and-mortar US banks with just a few thousand dollars. If you want more premium banking services, investment support, or a bank with international branchesthen you will need to deposit more. 

Also, if you want to open a digital bank account for a non-resident US LLC, there are some options available that do not have an initial deposit requirement. But, those platforms generally make it difficult for foreign non-residents to open accounts and lack the support a business needs. 

Lastly, before choosing a bank, you should consider whether or not you are willing to travel to open the account. You will have more options if you can open an account in person. But you’ll have to decide if this is worth the additional costs of flights, accommodation and ground transportation. 

If you would like to save money in the process of opening a bank account in the US, there are some great options that will enable you to open accounts from the comfort of your home. We help members of our US account opening service do this every day. 

If you’re ready to open US accounts today, find out how to get started below.