Frequently Asked Questions
Q. Can non-US citizens use the Bank Account Introduction Service?
A. Yes, non-US citizens can use the Bank Account Introduction Service, as long as they can provide all of the required documentation and also pass screening done against lists kept by the United States government, such as the Office of Foreign Assets Control’s Specially Designated Nationals list. Any customer wishing to order the Bank Account Introduction Service must also subscribe to the Delaware Mail Forwarding Service.
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Q. What if a business checking account cannot be established for my business?
A. There is a 30-day money back guarantee on the Bank Account Introduction Service. If our partner, Easy Corp Ltd., cannot open a business checking account for you within 30 days of receipt and verification of all your required documentation, you will receive a full refund for the Bank Account Introduction Service.
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Q. What documentation is required to open a business checking account?
A. Because of the strict requirements imposed by the United States Patriot Act, you will be required to provide a number of documents before our partner, Easy Corp Ltd., can begin the process of opening a business checking account for you.
Requirements include:
- A clear copy of a valid passport
- A clear copy of a second form of identification (such as driver’s license or national ID)
- A clear copy of a recent utility bill (in English) displaying your name and current local address
- A bank reference letter (in English) from your local personal banker stating how long you have held a bank account with that bank and confirmation that your account is in good standing
- A clear copy of the letter from the Internal Revenue Service (IRS) confirming your Federal Tax Identification Number (EIN) – Federal Tax ID Number (EIN) Obtainment is included with BizFilings Complete Formation Service, or can be added to a Basic Formation Service, Standard Formation Service, or Formation for Non-US Citizens order
- A clear copy of your Certificate of Incorporation or Certificate of Organization – A certified copy of the formation documents is included in BizFilings’ Complete Formation Service, or can be added to a Basic Formation Service, Standard Formation Service, or Formation for Non-US Citizens order
- If your company has been in business for more than six months, a clear copy of a Certificate of Good Standing from your state of formation will also be required – BizFilings offers a Certificate of Good Standing obtainment service
- If the names of the individuals who will have access to your business checking account are not listed in the Certificate of Incorporation or Certificate of Organization, a clear copy of your company’s bylaws or operating agreement must be provided that lists these individuals
- A minimum deposit of $100
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Q. Does BizFilings verify the documentation necessary to open a business checking account?
A. BizFilings has partnered with Easy Corp Ltd. to provide the Bank Account Introduction Service to our customers. Easy Corp’s verification process includes scanning against the Office of Foreign Assets Control’s Specially Designated National’s list, checking all documents, and verifying the identification provided with the applicable Embassies.
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Q. Can I access my business checking account online?
A. Yes, once your business checking account has been established, you will be provided with online access to your account.
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Q. Is a minimum deposit required?
A. Yes, a minimum deposit of $100 is required to open a business checking account for your company.
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Q. What is the monthly administrative and compliance fee?
A. The $147.50 monthly fee charged by Easy Corp Ltd. covers all due diligence and compliance work that Easy Corp Ltd. has to do to keep the accounts it establishes with the banks open. This fee is debited on 1st of every month directly from your bank account.
Easy Corp Ltd. ensures that the documentation required by the banks remains valid through the life of the account. Easy Corp Ltd. verifies the validity of your local address each month, and the banks also ask that Easy Corp Ltd. verify other activities on your behalf, such as verifying bank card transactions or bank transfers.
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