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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)

How to Open A US Bank Account For Foreigners (Remotely)

startTime durationTime text
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