US Bank Account

If you have your online business then it is beneficial to start an account with a bank in US. There are several reasons for this. The most important one is that if you run your own online business then it is most likely that about more than half of your customers will be US citizens who would be using credit cards or PayPal to pay online. This is true because about eighty percent of the online business is controlled by US.

To receive your sale amount you have to open an account with PayPal. PayPal provide their service to fifty countries worldwide. If you are not a resident of any of these nations then it will be a problem for you. Gain if you open a third party account or a one with a merchant banker then the process of money transfer is cumbersome which will take several weeks so that you receive the sales in the account of your native country bank. Not only this but also the transfer fee that you pay is huge which drastically reduce the profits.

Therefore it is wise to open an account with a bank in US and save yourself from all these situations.

The banking laws in US are very strict especially for the non US citizens. So, if you are not a US citizen then you have to be careful with the process. The Patriot law passed by the US government has made it extremely difficult for the non US citizens to open an account with the bank in United States.

Internet is the best resource to find out about how to open an account in US bank. Take the search. Search for the different banks operating in US. Visit their websites and find out the different facilities that they give to the non US citizens. If you have a work permit and are plan to stay in United States for few months related to your work then your employer can help you out with this.

If you run your own online business then the process is somewhat difficult for you. You should consult the officials of the banks operating in United States to clarify your doubts. You can also visit the frequently asked questions section of the sites of banks to find out the detailed information about opening an account.

As a business person you can also start with a current account or a brokerage account. But for the details you must consult an expert in the field in your home country and with the officials of the bank with which you are interested in opening an account.