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US Banking Solutions

December 19, 2018, New York:

TaxUsa is now offering bank introduction to CHASE bank, top rated US bank. Check with our team if this fits your US banking needs.

Get paid by
any one any where

In today's world, banking globally is very complicated. Our team will assist you to set up bank account in the US, and efficient payment platforms that will allow you to get paid by US customers and non US customers. Solutions that help you work with Amazon, Google and many other e-commerce companies are only click away. With us, you have a partner.

US BANK & MERCHANT
ACCOUNT

INTRUODUCTION SERVICE
FOR NON US RESIDENTS

$499

full refund if you are unable to open an account

US BANK & MERCHANT ACCOUNT

INTRODUCTION SERVICEFOR NON US RESIDENTS

1.

NEED US BANK ACCOUNT?

NEED US MERCHANT ACCOUNT?

START ACCEPTING CREDIT CARDS

GET PAID BY US CUSTOMERS

PAY TO US SUPPLIERS
GET THE
BEST RATES
GET THE BEST SOLUTION

Since 2004, we have helped thousands of NON US RESIDENTS start their own US companies and obtain bank and merchant accounts. With the new Patriot Act, KYC laws and money laundering regulations it is becoming very hard for nonresident to open business account in the US, and especially hard is to open a US merchant account. To resolve this problem, and following requests from many of our customers, we have developed the perfect solutions for non-residents:

 

US BANK & MERCHANT ACCOUNT
INTRODUCTION SERVICE

 

Check if you qualify

 

2.

SAVE TIME AND A LOT OF MONEY!

 

As the world becomes more global & borderless, and as new forms of payments and merchant solutions are being developed it is now more complex to find the best merchant solution for your business, one that will suit your business structure, residency status, products and services, customer type, industry, transactions and expected volume.

You can spend days studying all the different banking options, researching hundreds of merchant providers, and comparing dozens of payment solutions, then go through the lengthy process of applying and then get rejected...

 

OR

You can sign up for our US Bank & Merchant Account Introduction Service and let us do it all for you and get you the best solution for your business including the best possible rates!

Check if you qualify

3.

WHO IS IT FOR?

Our service is designed for NON US RESIDENTS who are looking to expend their business to the US market.

 

Check if you qualify

4.

HOW DOES IT WORK?

Step 1: Analysis
We conduct an analysis of the following: your business structure, residency status, industry you operate in, products and service you sell, your customers, transactions and sales volume.

Step 2: Access to banks & merchant services database
After we complete the analysis, we will give you access to our enhanced database of leading 100+ banks and merchant service providers.

Step 3: Comparison of top 10 merchants

We will send you detailed list of the 10 banks and merchants that best meet your requirements, including: Eligibility terms to open an account, documents required to open the account, accepted methods of payments, rates and fees, chargebacks rates before account closure and more.

Step 4: Apply to open an account
You will select the three banks and merchants that you wish to apply for an account with and we will provide you with assistance throughout the entire process, including help with all forms and schedules, tax forms such as W8 and W9, help with information requests sent by the merchant provider and more. We will continue to provide support until the account is opened.

Check if you qualify

 

 

4.

HOW LONG DOES IT TAKE?


Step 1: Analysis
24 hours

Step 2: Access to banks and merchant servies database
48 Hours

Step 3: Comparison of top 10 banks and merchants
48 Hours

Step 4: Apply to open an account
1 week or more. This step is mainly depends on how fast you responds to our and the bank and merchant request for information. The fastest you work with us, the faster this step will be finished.

 

Check if you qualify

 

 

5.

WHAT DO YOU NEED TO PROVIDE US?
 

Due Diligence
We must verify your business, your identity and your address. Under the KYC and money laundering laws, we will ask you for the following documents:

  • TAXUSAmerchant application, signed.

  • Valid passport

  • Valid government ID with photo

  • Proof of address from the last 90 days with your name

  • Bank reference letter from your home country

  • Certificate of incorporation of your US company

  • Shareholder agreement / LLC operational agreement

  • Link to your website where can clearly see your services / products

 

Check if you qualify

6.

WHAT WILL YOU RECEIVE FROM US?
 

Dedicated account manager
Right after you sign up, we will assign to you an account manager, who will be your main contact person for the entire process, from start to finish. You can contact your account manager via email, live chat, skype and SMS.

Access to bank and merchant services database
Enhanced database of leading 100+ banks and merchant service providers.

Comparison of top 10 merchants


Merchant providers comparison

We will send you detailed list of the 10 banks and merchants that best meet your requirements, including: Eligibility terms to open an account, documents required to open the account, accepted methods of payments, rates and fees, chargebacks rates before account closure and more.

CPA Assistance with application to open up to 3 accounts
You will select the three banks and merchants that you wish to apply for an account with and we will provide you with assistance throughout the entire process, including help with all forms and schedules, tax forms such as W8 and W9, help with information requests sent by the merchant provider and more. We will continue to provide support until the account is opened.

 

Check if you qualify

7.

IS IT GUARANTEED THAT YOU WILL GET AN ACCOUNT?
 

Although we do everything we can to make sure your application will be approved by the best bank and merchant service for your business, it is the sole decision of the merchant provider risk management team whether to open your account and under which terms of to reject your application. We will continue to work with you throughout the process until you are able to open an account.

Check if you qualify

8.

DO I GET REFUND IF THE ACCOUNT IS NOT OPENED?
 

Yes. If you are unable to open bank or merchant account using the introductions we have sent you, you will get $250 refund.​ Refund will not be issued if you failed to provide the information requested by the banks for the due diligence.

F.A.Q

What is the cost of the service?

The entire process costs only $499. It includes: Dedicated account managerAccess to merchant database, Merchant providers comparison, CPA Assistance with application to open up to 3 accounts

Pricing & Order form

 

Do I need a US company?

It depends on the merchant providers. Some of the merchants will require you to open an account for a US Company and not personal account. If you don't have US company, and you will be required to open one, we can open it for you. The fee for it is $500. Read more about this here.

Check if you qualify

I don't have bank reference letter

As we must verify your credential, we need to obtain reference letter from your home country bank or financial institution. If this is not available, we will have to discuss with you alternatives, such as references from customers.

Check if you qualify

 

Do I need to notarize the documents?

You will have to notarize the documents if we approve your application. At that time, we shall ask you to notarize the documents (Public notary or qualified attorney can do that for you) and courier the documents to our headquarters in NY.

Check if you qualify

What Is a Merchant Account?

A merchant account is bank account with a bank. It is not a regular bank account that you use for deposits, withdrawals, savings, and investments. In fact, the merchant has very little control over the merchant account. Instead, a merchant account is an account into which a merchant can accept card payments.

Check if you qualify

Banks that offer merchant accounts are usually called acquiring banks or acquirers. Not only banks are acquirers. Non-bank entities can be acquirers. This comes from the role they play in a card purchase. They acquire the card information and pass them on to the issuer.

The issuer in many cases refers to a bank, namely the bank that issued the customer's card. However, issuers can be non-bank entities, such as financial services companies or just any regular company that has been licensed by a card scheme to issue cards.

Check if you qualify

What Is a Card Scheme?

This originally referred to Visa and MasterCard only, but nowadays also includes other brands, such as American Express (AmEx), JCB, China Unionpay, Diners Club, Discover, and various localized cards.

The card schemes either issue their own cards or license issuers, such as banks or credit card companies, to issue cards with their brand.

Check if you qualify

Offshore Merchant Account

This can mean one of two things: either a merchant account with an offshore bank (acquirer) or a merchant account with an onshore bank held by an offshore entity.

The most common is the former. The latter is not quite as common, since onshore banks prefer to deal with merchants in more reputable jurisdictions than the jurisdictions where offshore companies are mostly registered, such as Seychelles, Belize, British Virgin Islands, and so on.

There is a common misconception that an offshore merchant account is automatically high-risk. This is not the case. However, merchants who seek offshore processing are usually doing it because offshore acquirers are far more lenient when it comes to issuing merchant accounts and what type of goods and services can be sold, due to more relaxed laws and requirements on the merchant. This is one of the greatest advantages of having an offshore merchant account.You may also be subject to stricter banking secrecy with an offshore bank than you would otherwise.

The main disadvantage of offshore merchant accounts is that they cost a lot more. You typically pay up to double, if not more, per transaction with an offshore acquirer, and there are usually monthly fees on top of that.

Whether it's worth the extra cost is up to you as a merchant to decide. I often find in the long-term it costs less to register a company in a low-tax but reputable jurisdiction (Malta, Gibraltar, Ireland) and get a merchant account with an onshore acquirer. The lower processing fees make up for costs of accounting and taxation quite quickly.

Check if you qualify

What Is a Chargeback?

A chargeback is a dispute of a card payment. Chargebacks are raised by the cardholder in case of card fraud (stolen or skimmed card), non-delivery of goods, or when an unknown transaction appears on the credit card statement or bank statement. The latter is called friendly chargeback. This occurs when the cardholder authorized the transaction (meaning no fraud took place) but does not recognize it on the card statement. For example, this can happen if your company is called Example Trading LLC but your website is www.flowers.com and the customer sees Example Trading LLC on their monthly statement; this is called the billing descriptor.

Check if you qualify

High-Risk Merchant Account

Acquirers classify merchants into risk categories, usually just low-risk or high-risk. The risk profile a merchant gets is predominantly based on the goods and services sold. These are sectors that have an innate high-risk for chargebacks, be it due to stolen cards, non-delivery of goods, unsatisfactory goods, or unclear billing descriptor.

The following are examples of high-risk merchants:

  • Airline, travel, hotel bookings

  • Gambling (casino, poker, sports betting, bingo)

  • E-cigarettes

  • Tobacco

  • Pharmaceuticals

  • Adult entertainment

  • Subscriptions

There are three (3) major types of Merchant Accounts:  

How you are going to actually collect your customer’s card data at the time and point of sale will dictate what type of Merchant Account you should consider.​

  1. Retail Merchant (Swiped) Accounts: This type of account usually offers the lowest transactional costs because the merchant is face-to-face with the card holder, and the card is physically swiped at the point of sale. 

  2. MOTO Merchant (Keyed) Accounts: Mail Order/Telephone Order accounts tend to charge higher transaction rates and fees than a Retail “Swiped” Account. Why is that?  Merchants cannot verify that the person calling in to place the order is in fact authorized to use that particular card. More risk equals higher processing costs. 

  3. Internet/Website Merchant (Keyed) Accounts: Internet merchant accounts, also known as "Gateway" accounts" are similar to MOTO accounts, have higher risk and thus higher processing costs than swiped accounts, and can only be used for Internet/website transactions. A shopping cart is often used to simplify the product or service selection process for the consumer. 

Merchants MUST comply with all MasterCard/Visa/Discover/American Express Payment Card Industry - Data Security Standard (PCI-DSS) and EMV Terminal/Equipment guidelines and requirements to minimize all forms of credit card processing fraud and chargebacks.  Should a Merchant fail to comply with these well established PCI & EMV rules and regulations, they will be subject to a 100% cost liability shift back to themselves, as MasterCard/Visa/Discover/Amex will not share in any chargeback or processing losses with the Merchant.   

Please visit the following sites for more info on PCI-DSS and EMV:

www.Visa.com

www.Mastercard.com

Check if you qualify

 
FIRST STEP: CHECK IF YOU QUALIFY
for US bank & merchant account
introduction service
instant results
After you submit the form, our team will run an initial review and let you know if you qualify for our bank & merchant account introduction service.

🛈 Your nationality

We will match you up with banks and merchants that allow citizens from your country to open accounts

🛈 Your country of residency

We will match you up with banks and merchants that allow residents from your country of residency to open accounts

Do you have US company?

🛈 Why do we need this info?

We will match you up with banks and merchants that works with businesses in your industry and type of products and services 

Do you have or planning to hire employees in the US?

🛈 Why do we need this info?

Some banks allow non residents to open accounts for non residents if they have US employees

Minimum transaction size

Maximum transaction size

Expected monthly volume

BANKS & MERCHANTS DATABASE:

save time. save money. 

let us find you the best US banking 

solution for your business.

What do you get?

 ✔️ 

INTRODUCTION TO 10 DIFFERENT BANKS AND MERCHANT SERVICES

We will introduce you to the banks / merchant services send you complete contact information, sign up information, fee structure and personal contact within the bank.

 

Will you have to travel to the US to open the account?

It's up to you!

Out of the banks and merchant services we will introduce you to, at least one allows you to open the account remotely without traveling to the USA. The account will be a Multi-Currency account, with US official routing number which enables accepting wire transfers from any US bank (it will be a local wire, not international wire) and accepting e-checks from any US customers. It will also allow you accept credit cards from business and individuals on a case-by-case basis, subject to the bank approval.

 ✔️  

ASSISTANCE WITH THE REGISTRATION PROCESS

Because we are not allowed to to open the account for you, under the money laundering prevention laws, we will work with you to open the account, guide you, help with the applications and with the required documents and information.

 

 

 ✔️ 

CPA CONSULTING:

CPA consulting session: to discuss your banking needs and review your US incorporation structure

 

 

 ✔️ 

DOCUMENTS PROCESSING:

Prepare the necessary documents that you will need to present the bank during the account opening process

 

 

 ✔️ 

COMPLETE SUPPORT:

Direct email / chat / skype access to our banking team, to answer all of your questions during the account opening process, and full support until the account is open and fully active

 

 

 ✔️ 

VISA LETTER:

If you select a bank that requires in person identification, We will send you a CPA (Certified Public Accountant) Letter approving the company is in the process of opening bank account, and need to owner to come to the US to sign the documents at the bank.

Trusted name since 2004

We assist International Entrepreneurs, Non-US-Residents and Non-US-Citizens in opening a  Business Bank Account and other banking solutions for their US Companies since 2004.

 

We work with first class  Banks which offer  comprehensive  banking solutions to US Corporations and US LLCs owned by Non-US-Residents.

We offer our Bank Account Introduction & Submission in two levels: 1) US Business Account 2) USD offshore Business Account for US LLC / Corporations.

 

Tax USA ™ is an "Introducer" of some of the largest banks in the US and outside the US (Seychelles, Belize, UK (Isle of Man) , Cyprus, Navies, Latvia). We are able to provide you with the most suitable banking solution for your business needs.

The Patriot Act and Know Your Customer Policy
 

Post 9/11/2001 and the Patriot Act, Non-US-Residents find it difficult to open a US Bank Account or USD based Bank Account. Banks have to open new accounts based on the Know your Customer Policy:

 

Know your customer (KYC) is the due diligence that financial institutions and other regulated companies must perform to identify their clients and ascertain relevant information pertinent to doing financial business with them.

 

One aspect of KYC checking is to verify that the customer is not on any list of known fraudsters, terrorists or money launderers, such as the Office of Foreign Assets Control's Specially Designated Nationals list. This list contains thousands of entries and is updated at least monthly. As well as sanctions lists there are lists of third party vendors that track links between persons regarded as high-risk owing to negative reports in the media about them or in public records.
 

 

 

How do we assist you with opening your bank account?

 

Most Commercial and Retail Banks do not allow Non-US-Residents maintain an individual or a corporate bank account due to lack of social security number, business address, credit history and track record.

Tax USA ™ understands the need of  Non-US-Residents to have a USD Business Bank Account.  We maintain long term working relationships with US and International Banks to provide USD banking solutions for Non-US-Residents. We will work with you to meet the requirements of "Know Your Customer Policy" and open your USD Bank Account.

 

The banks we work with are willing to open an account for US LLC or US Corporation owned by a Non-US-Resident. They expect us to process an initial screening to our clients and prepare a semi due diligence and bank account application. Based on the information we provide to the bank a principal approval to open the account will be granted.

 

Then we will assist you with filling up a complete new bank account application which you will mail to the bank. The bank will process the application in few days and open the account.

 

 

 

What type of business we can assist with opening a U.S. Corporate Bank Account?


1. Technology
2. Software Development
3. Clean-Tech and Green-Tech
4. Internet
5. Content Management
6. Life Science
7. Nano-Tech

 

What type of business we can assist with opening a USD Offshore Corporate Bank Account?

 

1. All businesses mentioned above

2. Real Estate

3. E-Commerce (sales of goods and services using online platform)

4. Retail

5. Wholesale

6. Manufacturing

7. Web Design and Web Hosting

8. Online Consulting & Management

What are the requirements to open the account?

 

1. Valid Passport (account signer)

2. Proof of Address (account signer)

3. Certified Articles of Incorporation / Formation*

4. Bylaws / LLC Operating Agreement*

5. EIN Confirmation Letter*

6. US Business Address*
7. Utility Bill

 

If you incorporate your US Business with Tax USA ™ , we will provide items 3-6.
You will need to notarize the above mentioned documents.

 

 

 

What is included in your Bank Account Introduction & Submission Service?

  

Our Bank Account Introduction & Submission Service assists you with the process of opening a bank account for your US Company based on the options available at the time. The services includes:

 

1. Presenting the banking options available including specific banks and their policy / procedures to open an account for a Non US Resident.

2. Contact information of each bank to enable you contact the bank and apply.

3. Application forms, instructions and details on the supporting documents the bank requires to open the account

4. Assistance with filing in the application, preparing the supporting documents and applying with the relevant bank

5. Communication with the banker when necessary and setting up an appointment (if required)

 

 

Money Back Guarantee

 

Note: We do not sell ebook or guide like most companies advertising on the web. Tax USA ™ will process a principal approval for your Bank Account with a Reputable, FDIC Insured US Bank or USD Offshore Corporate Bank Account, which will allow you to open the account upon submission of the bank's application and identification documents.

 

Tax USA ™ will assist you with filling in the applications, forms and all required documents to the satisfaction of the banks.

 

We do NOT provide nominee banking service and we will NOT be a signer in your account. You will be the sole signer of the account. Tax USA Inc or its Representatives will not be nominee(s) or co-signers in the account. 

Money Back Guarantee: if for any reason, we have not been able to introduce you to  a US bank account or a USD Offshore Bank Account(within 60 days from your order date) , the fees you have paid to us for Bank Account Introduction & Submission will be fully refunded to you within 7 business days.


 

Privacy Policy

 

Your privacy is important to us. We use the information you provide about yourself when placing an order only to complete that order. We do not share this information with outside parties except to the extent necessary to complete that order. Specifically, we will share your information with banks we apply for your bank account

 

 

Fees Schedule & Bank's Policy

 

Tax USA ™ is not a financial institution nor a bank (please refer to our disclaimer below). Approval to open a bank account will be granted by the bank, subject to the bank's sole decision.

 

All fees related to maintaining the bank account and/or transaction fees are subject solely to the bank's fees schedule. Upon processing of your bank account application, the bank will forward you an updated fees schedule for your review.

 

Here are some fees of a bank we work with as of October 1, 2018:
Monthly Account Maintenance $20.00
Incoming Wire Transfer $10.00

Outgoing Wires Initiated Online - Domestic Wire $12.00

Outgoing Wires Initiated Online - USD International $25.00
Outgoing Wires Initiated Online - FX International $25.00

Checks Deposited $0.11

 

 

 

What is included in the Bank Account Introduction Service:
 

We Provide you with bank application forms and a detailed instruction, which helps you to prepare your documents, complete the forms and email them to our company for pre-screening, 
 

Prepare corporate documents according to the banks requirements (Articles of Incorporation / Formation, LLC Operating Agreement / Bylaws, EIN Confirmation Letter, Member Certificate / Stock Certificate, 
 

Receive your completed bank forms via email, pre-screen them and provide your with recommendations improving presentation of your business information included in the application,
 

Introduce you to the bank and forward your completed new bank account application to the bank for its initial review,

 

Obtain the bank's initial approval on your application,

 

Assist you with all required personal and corporate documents and signed application forms (in paper form) to the bank for its final review,
 

Monitor and support you with your account opening process and helps you to get your account opened in timely manner.


Disclaimer:
Tax USA is not a financial institution and does not offer or provide any financial services. Our company offers business consulting and incorporation services.

  

The Client must submit to the bank all required documents, completed and signed bank forms and information requested by the bank. 
 

The bank could request any additional information and/or documents from the Client at its discretion and the Client must comply with the bank requirements. 
 

The bank makes its own decision about each application based on client's personal documents and business activities. Tax USA ™ has no control over the bank's decisions, and does not accept any responsibility for bank's decisions.

 

Q: As a Non US Resident can I open a business bank account for my US Company?

A: Yes. There a few banking options available to Non US Residents to open a business bank account to their US LLC or US Corporation or Non Profit Organization.

 

Q: Do you assist in opening a business bank account?

A: Yes. We offer Bank Account Introduction and submission service to assist our clients open a business bank account. All our US Incorporation Packages include Bank Account Introduction & Submission Service.

 

Q: What are the banking options available to my US Company as a Non US Resident?

A: There are 2 category of business bank accounts available for a Non US Resident:
US Bank Account (most likely will require you or the company authorized signer to identify in person at the bank in the US).
Offshore Bank Account (you don't need to identify yourself in person at the bank).

Q: What are the differences between US Bank Account and USD Offshore Bank Account?
A: US Bank Account is located in the US v.s. Offshore Bank Account which is located outside of the US (mostly in offshore territories). US bank account is subject to US financial and banking laws v.s. Offshore Bank Account which is subject to the banking laws of the county where the bank is located.

 

US Bank Account has a ROUTING NUMBER which is a domestic ID Number. Using the routing number you can link the account to Paypal, Amazon, Apple, Authoirze.net and other US third party financial institutions. Offshore Bank Account has an IBAN NUMBER which is international ID Number. Using the IBAN you can receive international wire transfers to your offshore account from any bank account worldwide.

 

US Bank Account can be linked to a domestic US Merchant Account v.s. Offshore Bank Account which can be linked to international merchant account.

 

US Bank Account can only be a USD (USA Dollar Currency) account v.s. Offshore Bank Account which can be a multi currency bank account and can be managed in USD, EUR or other available currencies.

 

 

 

Q: What are the options available for  US Bank Account?

A: Post 9/11, the process of opening a US Bank Account for a Non US Resident / Citizen is more challenging than before. Many US Banks will require the signer to have a social security number (SS#).

 

Tax USA established working relationships with US Banks to enable Non US Residents / Citizens open a US Bank Account for their US Companies. The standard Procedure will require the account signer to come to the bank, usually in the state where the company is registered and identify himself / herself in person with a passport and a secondary ID (i.e. driving license).

 

 

Q: Can I open a US Bank Account without coming to the US in person?

A: As mentioned above, the standard procedure will require the signer to come in person to the bank.

However, we do offer few options to open a US Bank Account without coming to the US.

 

 

 

©2004-2019 by Tax USA Inc.

 

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