Business Banking in the USA?

OU812

Hoping some of our business owner posters who trade in the US would be able to help out here.

Just landed a client in the US (yay) with a second hopefully to be confirmed by the end of the month (double yay). I have to set up an LLC over there, but I was wondering about business banking?

We're going to set up the LLC in Nevada for various reasons, but the second customer will be in NYC. We're also chasing a few more on the east coast.

I was thinking of opening an account with BOA in NYC, because they're pretty much everywhere & also have a business branch here. Most of the banking will be done electronically.

Is there much to setting up a business account & is there another nationwide chain that I should be looking at before settling on BOA?

pedronomix

read this http://danashultz.com/blog/2015/04/01/how-can-a-foreigner-open-a-bank-account-in-the-u-s/

pedroeibar1

Expect delays/trouble because as a general rule, US banks are very poor at “foreign” and the further inland you get the worse it becomes. Not only do you have the usual AML , but also the Homeland Security overlay. I used Citibank in Manhattan, their branch Midtown on Park Avenue had a section that dealt with expats and foreign corporations. Years ago I had some business with BOA in NYC that was a very bad experience.

Duckett

Not sure what sector you are in but SVB have a strong US network. See article below which is dated.
Suggest you contact SVB folks here or in London to see what they can offer.

http://www.independent.ie/business/technology/silicon-valley-bank-boss-irish-tech-startups-soaring-30553000.html

pedroeibar1

Duckett wrote: »

Not sure what sector you are in but SVB have a strong US network. See article below which is dated.
Suggest you contact SVB folks here or in London to see what they can offer.

http://www.independent.ie/business/technology/silicon-valley-bank-boss-irish-tech-startups-soaring-30553000.html

Good suggestion, I did not think of them. Not sure about their day-to-day banking but they are heavy on VC type deals and good on Forex. Several of their people on the West Coast are ex-Anglo (the better ones those, who left early!)