Home > General > Affiliate Marketing Forum

How to open a US bank account (being based in Europe)? (12)

07-09-2015 07:26 AM #1 cbrughmans (Member)
How to open a US bank account (being based in Europe)?

Is there any way to open a US bank account while not being physically present in the US or do you need to walk into the bank in the States with all required documents to open up the account?
If its possible to open the account from a distance, what banks would you recommend?

Reason I'm asking. We pay our affiliates weekly, but since we have a lot of affiliates based in the US/Canada we pay them from our European bank (but in USD currency), only problem is that the transfer from the Euro bank to the North American bank can take up to 3-5 working days. We want to get this down to preferably 1 day so our affiliates get their money in (even) faster.

07-09-2015 11:31 AM #2 caurmen (Administrator)

Do you specifically need a US bank account or just a bank account denominated in US currency?

You should be able to set the latter up with most large international banks - I'd recommend calling your existing bank and asking about that.

Beware - bank transfers in the US are not, to the best of my knowledge, as fast as bank transfers in the EU, regardless of whether you're in the country. I'd definitely quiz your bank carefully about that at the same time.

Anyone have more specialised knowledge on this?

07-09-2015 11:40 AM #3 nickpeplow (AMC Alumnus)

Really interested in this question. If anyone is going for professional advice, would buy in

07-09-2015 12:27 PM #4 cbrughmans (Member)

We already have USD, GBP and AUD accounts with our existing European bank but we are looking into opening a US bank account (with a bank located inside the US) in order to lower the amount of days between transferring the money from our European bank to the US bank affiliate X,Y,Z is using vs the affiliate actually receiving the money in his account.

@caurmen - imagine Im a US citizen with a US bank account and you are a US based affiliate with a US bank account as well. And you want to transfer me money. How many days does it take before it effectively hits the account?

Quote Originally Posted by caurmen View Post
Do you specifically need a US bank account or just a bank account denominated in US currency?

You should be able to set the latter up with most large international banks - I'd recommend calling your existing bank and asking about that.

Beware - bank transfers in the US are not, to the best of my knowledge, as fast as bank transfers in the EU, regardless of whether you're in the country. I'd definitely quiz your bank carefully about that at the same time.

Anyone have more specialised knowledge on this?

07-09-2015 01:07 PM #5 franco12 (Member)

This used be "simple" with HSBC.
Now with all the EU vs. US bank account issues, it ain't anymore.

Solutions I see:
1) try HSBC
2) create an offshore company in Delaware + US bank account

07-10-2015 01:03 PM #6 cbrughmans (Member)

Trying to get in touch with them. Wonder if that will work - fingers crossed. Thanks a lot for the help guys.
Any other thoughts or feedback are of course always welcome as well.

07-10-2015 01:21 PM #7 kash50 (Member)

http://www.mynewcompany.com/

07-10-2015 08:06 PM #8 nickpeplow (AMC Alumnus)

Have you used that service top open a us bank account?

No shortage of incorporation companies

07-10-2015 08:08 PM #9 kash50 (Member)

I am using them now to go through the process.

07-10-2015 08:25 PM #10 fabian (Member)

I'm based in Spain. I have a USD account with BancSabadell. Transfers take 24 hours from BOA to BS and vice-versa. Is pretty fast.

07-11-2015 02:10 AM #11 pritishk (Member)

You can check accentcommerce.com by evox.

07-13-2015 07:07 AM #12 franco12 (Member)

Quote Originally Posted by fabian View Post
I'm based in Spain. I have a USD account with BancSabadell. Transfers take 24 hours from BOA to BS and vice-versa. Is pretty fast.
That's faster then most of the bank transfers within the EU :-o

Home > General > Affiliate Marketing Forum