Getting a merchant bank account in USA (Chase bank)

[BusinessOne]

I want to get merchant bank accounts from Chase and/or Bank of America, in order to have a more solid alternative to Stripe for processing payments long term.

I am not a citizen nor resident of the US, but I have owned a US LLC for over a year.

Will I be able to open a merchant bank account on these banks without an SSN or ITIN? (I only have an EIN)

If not, will I be able to open the account after applying for an ITIN, or will I be asked for something else?

 

[Sols]

Just reach out to them. They'll probably decline. But if you have a big enough business, they might make an exception.

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This is the probably the answer to your question.

 

[JohnLocke]

As an alternative if you get declines by Chase, you can also try with Durango Merchant services, just be careful to what they suggest, some of the processors they referrer to are fraudulent.

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[AlicaFunk]

Paysafe and Stax are good US processors for mainstream. you don't need a bank like Chase

 

[montterio]

Paysafe USES Authorize.net and they fees is crazy

 

[bubbledouble]

montterio said:
Paysafe USES Authorize.net and they fees is crazy
Click to expand...

what is crazy fees? post examples or they are not crazy?

 

[12345]

BusinessOne said:
I want to get merchant bank accounts from Chase and/or Bank of America, in order to have a more solid alternative to Stripe for processing payments long term.

I am not a citizen nor resident of the US, but I have owned a US LLC for over a year.

Will I be able to open a merchant bank account on these banks without an SSN or ITIN? (I only have an EIN)

If not, will I be able to open the account after applying for an ITIN, or will I be asked for something else?
Click to expand...

ITIN is mandatory if you want to open a bank account in traditional US bank as nonresident alien.

 

[ActionMan]

BusinessOne said:
I want to get merchant bank accounts from Chase and/or Bank of America, in order to have a more solid alternative to Stripe for processing payments long term.

I am not a citizen nor resident of the US, but I have owned a US LLC for over a year.

Will I be able to open a merchant bank account on these banks without an SSN or ITIN? (I only have an EIN)

If not, will I be able to open the account after applying for an ITIN, or will I be asked for something else?
Click to expand...

I can help with finix, a more solid and better alternative to stripe.

if you want something with more coverage and local/alt payment methods, I can also help with payermax and flutterwave.

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[saintjohnny]

12345 said:
ITIN is mandatory if you want to open a bank account in traditional US bank as nonresident alien.
Click to expand...

False. I have 5 bank accounts in the USA and nobody ever asked me for an ITIN.

 

[ActionMan]

saintjohnny said:
False. I have 5 bank accounts in the USA and nobody ever asked me for an ITIN.
Click to expand...

False. NY branches asks for it, miami offices not so much

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[JohnLocke]

ActionMan said:
False. NY branches asks for it, miami offices not so much
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I'm puzzled as to how you can say that what @saintjohnny user says is wrong. If that's what he has experienced, then it should be correct and not a lie, or am I completely mistaken?

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[saintjohnny]

ActionMan said:
False. NY branches asks for it, miami offices not so much
Click to expand...

I flew to New York and opened 2 accounts in two well known banks about 6 months ago.

 

[12345]

saintjohnny said:
False. I have 5 bank accounts in the USA and nobody ever asked me for an ITIN.
Click to expand...

Personal or business account? 4 months ago I called many banks and every one of them told me I need an ITIN, finally I opened business bank of america but ITIN was required. I was in Philadelphia / Wilmington

 

[BusinessOne]

saintjohnny said:
False. I have 5 bank accounts in the USA and nobody ever asked me for an ITIN.
Click to expand...

But what about a business bank account with merchant services (Credit card processing). I have heard that requirements for those are greater.

12345 said:
Personal or business account? 4 months ago I called many banks and every one of them told me I need an ITIN, finally I opened business bank of america but ITIN was required. I was in Philadelphia / Wilmington
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Should I apply for an ITIN online then? With that will it be enough to open the business accounts?

 

[12345]

BusinessOne said:
Should I apply for an ITIN online then? With that will it be enough to open the business accounts?
Click to expand...

Getting it won't hurt surely
It takes 4-6 weeks to get an ITIN, cost is around 300 USD

 

[montterio]

ActionMan said:
I can help with finix, a more solid and better alternative to stripe.

if you want something with more coverage and local/alt payment methods, I can also help with payermax and flutterwave.
Click to expand...

How can you help with finix ,,, Are they accepting worldwide application or Jurisdiction in specific ?

 

[BusinessOne]

ActionMan said:
I can help with finix, a more solid and better alternative to stripe.

if you want something with more coverage and local/alt payment methods, I can also help with payermax and flutterwave.
Click to expand...

Thanks, I'm interested. Send me a DM.

 

[ActionMan]

JohnLocke said:
I'm puzzled as to how you can say that what @saintjohnny user says is wrong. If that's what he has experienced, then it should be correct and not a lie, or am I completely mistaken?
Click to expand...

He is mistaken because currently, most banks require an ITIN, though there are exceptions, particularly in Miami, FL. In my experience, Bank of America has been accommodating.

saintjohnny said:
I flew to New York and opened 2 accounts in two well known banks about 6 months ago.
Click to expand...

without an ITIN in New York? It might be, but both Wells Fargo and Chase typically require one.

montterio said:
How can you help with finix ,,, Are they accepting worldwide application or Jurisdiction in specific ?
Click to expand...

they onboard US and Canadian companies, even if you don't have a local entity, we can still facilitate your onboarding process. Please send me a DM for more information.

Toggle signature

One-Stop Solutions​

Payment Processing ✓ | Offshore Bank Accounts ✓ | â‚¿ Crypto On-Off Ramping Services ✓ | High-Risk Industries ✓​

Let's connect: DM me on Telegram HERE

Russian, LATAM and MENA : SBP, Visa/MasterCard/JCB/MIR?/wallets available | local OTC/e-wallets available per request.​

 

[montterio]

ActionMan said:
He is mistaken because currently, most banks require an ITIN, though there are exceptions, particularly in Miami, FL. In my experience, Bank of America has been accommodating.

without an ITIN in New York? It might be, but both Wells Fargo and Chase typically require one.

they onboard US and Canadian companies, even if you don't have a local entity, we can still facilitate your onboarding process. Please send me a DM for more information.
Click to expand...

Thank you !! I can't send a dm .. please do so .

 

[bubbledouble]

12345 said:
Getting it won't hurt surely
It takes 4-6 weeks to get an ITIN, cost is around 300 USD
Click to expand...

What is the consequence that you have to pay some tax in the USA & where you live?