Thursday, November 6, 2008

US BANK ACCOUNT

OPENING A US BANK ACCCOUNT - Is step 2
This is not an bank account for onesself as an individual, but a bank account for ones Corporate Entity, LLC and CCorp.
There are some challenges to ovecome. The US has tightened up on the process of opening bank accounts, the key aspect that will present challenges to our clients is that one must present to a bank in person to sign forms.
The simple answer would seem to be to use a Bank that has representation or at least an office or two in Australia.
There are three Banks I am investigating - Bank of America, Citibank, and Wells Fargo.
In saying this, for many the cost of operating a US bank account may be able to be avoided. What is a bank account required for anyway? To receive funds and pay bills.
I believe this may be able to be done through a Trust Account system.
I will report further on this.

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