Important information on opening accounts

It is at the bank’s or FinTech company’s (hereinafter we will refer to banks as well as FinTech companies as ‘bank’) discretion to approve or decline your account application. Our role is to introduce you and your company to the desired bank and to support you during the account application process. However, we cannot guarantee that the business account with your chosen bank will be approved and successfully opened. In this regard, please take note of our General Terms & Conditions.

We would also like to explicitly point out that every bank has the right to request additional documentation, translations or authentications, for which you may incur additional costs. The guidelines on this page are for your information and are not exhaustive. We reserve the right to change or update information and to correct errors. Incomplete or incorrect application forms may delay the account opening process.

US bank accounts (Florida LLC) after account opening

To be able to use your Florida LLC bank account online, you would typically need a US mobile number. As there are constantly new providers entering this market, we recommend you do your own research. Possible sources: Skype or Google Fi. Alternatively, you can of course also sign a contract with a local American provider, using your company and EIN number.

In our experience it is fairly uncomplicated to get a local post-paid contract, which already gives the applicant a certain credit rating. The branch and month of contract signing should be noted as this information is often requested as a security question during telephone calls with the provider.

Banking hotlines

Should you ever be locked out of your account or suspicious transactions are noticed on your debit or credit card, you may quickly get into a situation where you need to call the hotline. Therefore, it is advised to familiarise yourself with the hotline by making a few test calls. You will quickly get used to it.

Note

For security reasons, banks often ask about the last few transactions on your account. Therefore, you should always have a current statement easily accessible – a screenshot can be really useful in this situation.

In case you want to use your credit or debit cards outside of the USA, it is recommended to leave a respective travelnote with the bank by calling the hotline. In this way you avoid unnecessary problems, such as your card being blocked.

Employee debit cards

Some US banks offer the possibility to apply for employee debit cards, which can then be used by employees or partners. In principle, these Visa or Mastercards (Debit) will be sent to your office address. Some banks also offer the option to incorporate a daily, weekly or monthly limit. Please speak to your bank in relation to this, as there are frequent changes in this area.

International wire transfers

In the USA 90% of transactions are still conducted by sending a cheque through the post. International wire transfers are not very common and with a lot of banks this service even has to be applied for and activated separately. It is therefore recommended to do a test run in advance to avoid running out of time during an urgent transfer.

Should you choose the ‘Advanced Opening’ option, you must plan a trip to the USA soon after opening your account. Please send us an email at least three weeks in advance, to give us time to connect you with the ‘authorised person’. He/she will then arrange an appointment for you to go to the bank together and obtain full signing rights for your bank account.

Binding legal notice: In principle, the banks and FinTech companies we offer for opening an account cannot be seen as recommendations and should not be understood as such. Privacy Management Group does not check the credit worthiness, capital security or even service quality of the banks/FinTech companies chosen by your or your company. We do not accept liability for any damages incurred by you or your company now or in future by choosing one of the banks or FinTech companies offered by us. Our offer merely provides an overview of banks and FinTech companies that are, according to our knowledge, prepared to open private or business accounts for you or your company. It is entirely your responsibility whether you or your company decides to open an account with one of the banks or FinTech companies offered by us. We, Privacy Management Group, do not accept any liability, should you or your company suffer any kind of damage during or after opening an account.

US bank accounts are arranged by a local cooperative partner. In this instance, Privacy Management Group accepts full responsibility and liability for appointments, oral and written statements by the cooperative partner or other actions that are not directly related to the contact arrangement between the client and the cooperative partner. In the region of opening a bank account, Privacy Management Group only acts as an intermediary between the local provider (cooperative partner) and the client.

Important information on opening accounts

It is at the bank’s or FinTech company’s (hereinafter we will refer to banks as well as FinTech companies as ‘bank’) discretion to approve or decline your account application. Our role is to introduce you and your company to the desired bank and to support you during the account application process. However, we cannot guarantee that the business account with your chosen bank will be approved and successfully opened. In this regard, please take note of our General Terms & Conditions.

We would also like to explicitly point out that every bank has the right to request additional documentation, translations or authentications, for which you may incur additional costs. The guidelines on this page are for your information and are not exhaustive. We reserve the right to change or update information and to correct errors. Incomplete or incorrect application forms may delay the account opening process.