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U.S. Banking

Due to the U.S. KYC and anti-laundering banking regulations, we can only accept investments from U.S. bank accounts.

See below for how to open a U.S. bank account

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Opening a U.S. Bank Account as a Non-Resident

Banking in the US isn’t as easy as it used to be. The US passed the Patriot Act to prevent the use of the financial system for criminal activity. Although it has far-reaching effects, one of the biggest changes it brought was increased verification requirements.

Larger banks such as US Bank, TD Bank, Bank of America, Chase, and Wells Fargo will allow non-residents to set up a checking account and a savings account. Instead of your SSN, they’ll ask for an Individual Taxpayer Identification Number (ITIN) and other documents. As long as the necessary requirements are met, you’ll be able to set up an account with these banks.

Here are documents that you might be required to submit when you’re opening a US bank account for non-residents:

  • Valid passport

  • Individual Taxpayer Identification Number (ITIN)

  • Government-issued ID

  • Immigration documents

Applying for a ITIN

Short for Individual Taxpayer Identification Number, an ITIN is essentially a social security number for non-citizen residents. Foreigners who aren’t qualified to work in the US, as well as their spouses and dependents, are eligible for an ITIN. 

According to the IRS, you must fill out and submit the Form W-7 to apply for an ITIN.  Along with the form, you’ll be required to present documentation validating your identity  and your foreign status. You can mail the form and the requirements to the address provided on the Form W-7 instructions. 

Correspondent Accounts

It is possible that your bank has inter-banking relationships with a U.S. partner bank.  Your bank may be able to help you set up an account in the US. Even without a physical location in the US, your home bank can still assist you. Once set up, you can do wire transfers, deposits, and other financial transactions.

International Banks

Banks with an international presence may offer international accounts. For foreigners who don’t have a US address, this can be a convenient alternative. You can open an account from your home country, so you don’t have to fly to the US to set it up beforehand. Most banks even have web services that will let you set up a bank account online.

Some of the top banks with a wide international presence in the U.S. include HSBC, Charles Schwab, and Citibank. Of the three, Citibank may has the largest reach as it operates in more than 30 countries.