How to Open A US Bank Account For Foreigners (Remotely)
Published on: December 2 2022 by Tatiana James
How to Open A US Bank Account For Foreigners (Remotely)
Table of Contents
How to Open A US Bank Account For Foreigners (Remotely)
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| 00:00:00 | 00:00:03 | all right ecommerce business owners this |
| 00:00:02 | 00:00:05 | video is for you |
| 00:00:03 | 00:00:07 | i'm tatiana and today we're going to be |
| 00:00:05 | 00:00:10 | toking about remotely setting up |
| 00:00:07 | 00:00:12 | your u.s bank account so setting up your |
| 00:00:10 | 00:00:14 | business isn't all that complicating |
| 00:00:12 | 00:00:15 | but when it comes time to getting paid |
| 00:00:14 | 00:00:16 | that's when things can get rather |
| 00:00:15 | 00:00:19 | frustrating |
| 00:00:16 | 00:00:20 | if you are selling or planning to sell |
| 00:00:19 | 00:00:22 | in the usa |
| 00:00:20 | 00:00:25 | and you live overseas you'll likely see |
| 00:00:22 | 00:00:25 | the benefits of having a u.s bank |
| 00:00:25 | 00:00:28 | account |
| 00:00:25 | 00:00:28 | with a u.s bank account you can get paid |
| 00:00:28 | 00:00:31 | in u.s |
| 00:00:28 | 00:00:32 | dollars so you're not going to lose out |
| 00:00:31 | 00:00:33 | on the exchange rate |
| 00:00:32 | 00:00:36 | you're also going to be able to receive |
| 00:00:33 | 00:00:39 | direct deposits from both amazon |
| 00:00:36 | 00:00:40 | and from paypal and most importantly |
| 00:00:39 | 00:00:42 | you're going to be able to offer your |
| 00:00:40 | 00:00:45 | customers a variety of payment |
| 00:00:42 | 00:00:46 | methods so that you don't lose out on a |
| 00:00:45 | 00:00:49 | large portion of the market |
| 00:00:46 | 00:00:50 | in many cases if a customer is on your |
| 00:00:49 | 00:00:52 | website and they're going through the |
| 00:00:50 | 00:00:54 | checkout process |
| 00:00:52 | 00:00:55 | but they don't see their trusted payment |
| 00:00:54 | 00:00:58 | method of choice |
| 00:00:55 | 00:01:00 | they will abandon checkout and so you |
| 00:00:58 | 00:01:04 | will lose out on your sales |
| 00:01:00 | 00:01:06 | because people are not feeling confident |
| 00:01:04 | 00:01:07 | and secure in order to continue the |
| 00:01:06 | 00:01:09 | checkout process |
| 00:01:07 | 00:01:11 | so there are many benefits to having a |
| 00:01:09 | 00:01:13 | u.s bank account |
| 00:01:11 | 00:01:14 | but traditionally there is a colossal |
| 00:01:13 | 00:01:17 | hassle |
| 00:01:14 | 00:01:19 | of having to fly to the u.s in order to |
| 00:01:17 | 00:01:20 | open this bank account in person |
| 00:01:19 | 00:01:22 | and it's an obstacle that's going to |
| 00:01:20 | 00:01:23 | stop most people from ever moving |
| 00:01:22 | 00:01:24 | forward |
| 00:01:23 | 00:01:26 | so that's why today i would like to |
| 00:01:24 | 00:01:29 | introduce you to mercury |
| 00:01:26 | 00:01:30 | mercury offers banking services built |
| 00:01:29 | 00:01:33 | for e-commerce |
| 00:01:30 | 00:01:34 | they help both u.s citizens and |
| 00:01:33 | 00:01:37 | foreigners |
| 00:01:34 | 00:01:39 | open up u.s bank accounts all online |
| 00:01:37 | 00:01:41 | from the comfort of their home country |
| 00:01:39 | 00:01:43 | you can open up an account in minutes |
| 00:01:41 | 00:01:44 | from almost anywhere in the world |
| 00:01:43 | 00:01:46 | you have the option of opening up a |
| 00:01:44 | 00:01:46 | savings account or a checking account or |
| 00:01:46 | 00:01:48 | both |
| 00:01:46 | 00:01:50 | you also have the option of having a |
| 00:01:48 | 00:01:52 | debit card whether you want a |
| 00:01:50 | 00:01:53 | physical card or a virtual card the |
| 00:01:52 | 00:01:56 | choice is yours |
| 00:01:53 | 00:01:57 | they link seamlessly with paypal amazon |
| 00:01:56 | 00:01:59 | stripe |
| 00:01:57 | 00:02:00 | shopify and almost any other payment |
| 00:01:59 | 00:02:02 | processor |
| 00:02:00 | 00:02:03 | and best of all there are no minimum |
| 00:02:02 | 00:02:06 | balances |
| 00:02:03 | 00:02:08 | account opening fees or monthly fees the |
| 00:02:06 | 00:02:10 | only thing that you will be paying for |
| 00:02:08 | 00:02:13 | are wire transfers now it is worth |
| 00:02:10 | 00:02:16 | noting that they are a member of the |
| 00:02:13 | 00:02:19 | fdic the federal deposit insurance |
| 00:02:16 | 00:02:19 | corporation and that way you can feel |
| 00:02:19 | 00:02:22 | safe |
| 00:02:19 | 00:02:23 | resting assured that your deposits your |
| 00:02:22 | 00:02:25 | money is insured |
| 00:02:23 | 00:02:26 | all right so how do you apply well it's |
| 00:02:25 | 00:02:27 | pretty simple you're only going to need |
| 00:02:26 | 00:02:29 | a few things |
| 00:02:27 | 00:02:31 | you're going to need a u.s company with |
| 00:02:29 | 00:02:33 | an ein number |
| 00:02:31 | 00:02:34 | you're going to need your artikles of |
| 00:02:33 | 00:02:37 | incorporation and you're going to need a |
| 00:02:34 | 00:02:39 | copy of your passport |
| 00:02:37 | 00:02:40 | now if you don't already have a u.s |
| 00:02:39 | 00:02:43 | company |
| 00:02:40 | 00:02:44 | you can also set one up remotely from |
| 00:02:43 | 00:02:46 | the comfort of your own home |
| 00:02:44 | 00:02:48 | i'll link a few resources down below for |
| 00:02:46 | 00:02:50 | you to check out |
| 00:02:48 | 00:02:52 | and as well as the ein number if you |
| 00:02:50 | 00:02:54 | don't have that you can easily get that |
| 00:02:52 | 00:02:56 | by calling over the phone they can |
| 00:02:54 | 00:02:58 | assign you an ein number so |
| 00:02:56 | 00:02:59 | you don't need to leave the comfort of |
| 00:02:58 | 00:03:02 | your own home to |
| 00:02:59 | 00:03:04 | set up your us company and then once |
| 00:03:02 | 00:03:06 | you've set up your us company you can |
| 00:03:04 | 00:03:07 | then move forward and apply for a |
| 00:03:06 | 00:03:08 | mercury bank account |
| 00:03:07 | 00:03:10 | all right so right now i'm just going to |
| 00:03:08 | 00:03:12 | hop behind my computer and show you how |
| 00:03:10 | 00:03:13 | easy it is to set up your mercury |
| 00:03:12 | 00:03:15 | account |
| 00:03:13 | 00:03:16 | all right so once you go to |
| 00:03:15 | 00:03:19 | tatianajames.com |
| 00:03:16 | 00:03:20 | mercury you'll be on this page over here |
| 00:03:19 | 00:03:22 | i'm just going to show you kind of what |
| 00:03:20 | 00:03:25 | their website looks like |
| 00:03:22 | 00:03:28 | so banking built for e-commerce |
| 00:03:25 | 00:03:31 | connect to any payment processor link |
| 00:03:28 | 00:03:34 | with shopify amazon paypal stripe |
| 00:03:31 | 00:03:34 | send payments globally |
| 00:03:34 | 00:03:39 | create debit cards so for example if you |
| 00:03:37 | 00:03:42 | need to be paying for your facebook ads |
| 00:03:39 | 00:03:44 | your amazon membership you can have |
| 00:03:42 | 00:03:47 | recurring payments |
| 00:03:44 | 00:03:50 | uh set up pre-authorized |
| 00:03:47 | 00:03:50 | transactions |
| 00:03:52 | 00:04:00 | and here we go let's go ahead and open |
| 00:03:56 | 00:04:01 | up this account right now |
| 00:04:00 | 00:04:04 | we'll get started by inputting our |
| 00:04:01 | 00:04:04 | information |
| 00:04:09 | 00:04:15 | there we go i have read the terms |
| 00:04:12 | 00:04:17 | even though i didn't okay |
| 00:04:15 | 00:04:19 | let's tell us more about our company my |
| 00:04:17 | 00:04:21 | company name is |
| 00:04:19 | 00:04:22 | simply my name and i am indeed the |
| 00:04:21 | 00:04:26 | founder |
| 00:04:22 | 00:04:28 | choose your team's call sign |
| 00:04:26 | 00:04:29 | in the mercury url that's looks good to |
| 00:04:28 | 00:04:32 | me |
| 00:04:29 | 00:04:34 | so is your company one of the following |
| 00:04:32 | 00:04:35 | um so there are |
| 00:04:34 | 00:04:37 | a limited number of companies that they |
| 00:04:35 | 00:04:39 | cannot open an account for |
| 00:04:37 | 00:04:41 | so for example if i was selling |
| 00:04:39 | 00:04:43 | marijuana they wouldn't be able to open |
| 00:04:41 | 00:04:46 | up an account for me |
| 00:04:43 | 00:04:47 | in my case none of the above apply to me |
| 00:04:46 | 00:04:50 | so i'm going to |
| 00:04:47 | 00:04:53 | go ahead and hit next patriot act |
| 00:04:50 | 00:04:53 | disclosure |
| 00:04:55 | 00:04:58 | okay let's go |
| 00:04:58 | 00:05:02 | great let's get going start your company |
| 00:05:00 | 00:05:05 | profile |
| 00:05:02 | 00:05:07 | okay so here we're just going to |
| 00:05:05 | 00:05:08 | continue to input more information about |
| 00:05:07 | 00:05:11 | the business |
| 00:05:08 | 00:05:14 | what industry i'm in describing the |
| 00:05:11 | 00:05:14 | business |
| 00:05:15 | 00:05:19 | then the company owner's profile so in |
| 00:05:17 | 00:05:23 | my case i'm the sole |
| 00:05:19 | 00:05:26 | owner and |
| 00:05:23 | 00:05:28 | i own 100 of the company if i wasn't the |
| 00:05:26 | 00:05:29 | owner then i could add some co-owners |
| 00:05:28 | 00:05:33 | co-found |
| 00:05:29 | 00:05:35 | um as well in this section here |
| 00:05:33 | 00:05:39 | um and then i would just input more |
| 00:05:35 | 00:05:39 | information about myself |
| 00:05:42 | 00:05:47 | and here you could add co-founder if |
| 00:05:44 | 00:05:47 | that applies to you |
| 00:05:47 | 00:05:56 | and the company contact details so |
| 00:05:52 | 00:05:59 | you would put your company address |
| 00:05:56 | 00:06:01 | and your phone number |
| 00:05:59 | 00:06:03 | and if you're doing dba doing business |
| 00:06:01 | 00:06:06 | as then you would |
| 00:06:03 | 00:06:08 | input that here in my case i'm not |
| 00:06:06 | 00:06:11 | and then you would upload your company |
| 00:06:08 | 00:06:11 | formation documents |
| 00:06:12 | 00:06:16 | this would probably be the artikles of |
| 00:06:13 | 00:06:21 | incorporation however you can upload |
| 00:06:16 | 00:06:23 | these documents as well |
| 00:06:21 | 00:06:25 | and then your ein verification letter so |
| 00:06:23 | 00:06:26 | you'll have the ein |
| 00:06:25 | 00:06:30 | number that you can put here and then |
| 00:06:26 | 00:06:32 | you also have to upload the letter |
| 00:06:30 | 00:06:33 | and then that's it and then you would |
| 00:06:32 | 00:06:35 | just review your application |
| 00:06:33 | 00:06:37 | and then we would hit continue so i |
| 00:06:35 | 00:06:38 | wanted to share this resource with you |
| 00:06:37 | 00:06:41 | guys because i know many of you |
| 00:06:38 | 00:06:42 | live overseas and you're selling or |
| 00:06:41 | 00:06:44 | wanting to sell in the u.s |
| 00:06:42 | 00:06:45 | and you don't yet have a u.s bank |
| 00:06:44 | 00:06:48 | account because of the limitation of |
| 00:06:45 | 00:06:50 | having to fly into the us to create one |
| 00:06:48 | 00:06:52 | so this is a great resource because your |
| 00:06:50 | 00:06:53 | options are limited |
| 00:06:52 | 00:06:55 | even if you go with something like |
| 00:06:53 | 00:06:56 | setting up a payoneer account you have |
| 00:06:55 | 00:06:58 | to realize that payoneer |
| 00:06:56 | 00:07:00 | is not a u.s bank account so there are |
| 00:06:58 | 00:07:01 | limitations with that |
| 00:07:00 | 00:07:03 | with what you can do with an account |
| 00:07:01 | 00:07:05 | like that plus there are fees |
| 00:07:03 | 00:07:07 | you don't pay for anything except your |
| 00:07:05 | 00:07:08 | wire transfer fees so i think it's a |
| 00:07:07 | 00:07:10 | great resource for |
| 00:07:08 | 00:07:11 | everyone not just foreigners but people |
| 00:07:10 | 00:07:14 | who live in the us as well |
| 00:07:11 | 00:07:16 | u.s citizens so if you guys want to set |
| 00:07:14 | 00:07:18 | up your account you can sign up in just |
| 00:07:16 | 00:07:20 | a few minutes go to tatianajames.com |
| 00:07:18 | 00:07:21 | mercury or click on the link in the |
| 00:07:20 | 00:07:22 | description box below |
| 00:07:21 | 00:07:25 | again i'm going to have all the |
| 00:07:22 | 00:07:27 | resources in the description box about |
| 00:07:25 | 00:07:28 | getting your ein number about setting up |
| 00:07:27 | 00:07:29 | a us company if you don't already have |
| 00:07:28 | 00:07:31 | one |
| 00:07:29 | 00:07:33 | and of course about signing up for |
| 00:07:31 | 00:07:33 | mercury if you have any questions about |
| 00:07:33 | 00:07:36 | this video |
| 00:07:33 | 00:07:38 | about signing setting up a us bank |
| 00:07:36 | 00:07:38 | account let me know in the comment box |
| 00:07:38 | 00:07:41 | down below |
| 00:07:38 | 00:07:42 | i'll also invite mercury to answer some |
| 00:07:41 | 00:07:44 | questions as well |
| 00:07:42 | 00:07:45 | they've got a wonderful youtube channel |
| 00:07:44 | 00:07:47 | and then they can help |
| 00:07:45 | 00:07:49 | answer your questions maybe a little bit |
| 00:07:47 | 00:07:51 | better than i can so thank you guys for |
| 00:07:49 | 00:07:53 | watching and have a wonderful day |
| 00:07:51 | 00:07:53 | bye |
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