How do we get a business bank account in the U.S.?
We are an Indian-based company and we have recently registered our company in Clearwater, FL. We secured an EIN as well. Now we need to set up a bank account in order to apply for a merchant account or look out for payment processing solution. Any input will be highly appreciated.
Since you have an EIN, all you need to do is go to the bank with copies of your organizational documents (incorporation, LLC operating agreement or whatever type of legal entity you have) and the EIN and open the account. They may require some additional information from you, which varies from bank to bank.
You need to visit a local bank branch, Usually registration papers, showing the company being incorporated and the copy of EIN should be enough. If company has Fictitious business names a copy of paperwork will be needed. They may have some other "Patriot Act" requirements as well. Generally it is a very simple procedure.
1. register for online banking
2. there are many payment processing method available on line, cheaper then banks and even more reliable and easy to use.
Do you have a Clearwater address? Are you looking for a relationship with the bank? Why is it important to have a US bank in Florida, especially since you have no intention of coming here?
All financial institutions are required to follow US Patriot Act requirements. Cask laundering is certainly of concern. Why not follow the rules and engage the appropriate professionals as well as visit and build a relationship?