USA business bank account for UK company?

SeriousOne

New Member
Hi !

So far I know only Borderless, but I am wondering if there is any free of charge USA business bank account for very recently (few hours ago) formed UK company? So that company would open that account.... It can also be virtual one, as long as it works well (ach, wires, international wires: incoming/outgoing + memo) just like real physical one.

Amounts to be received are high (above 3M usd) so it is important there is no limit. I have seen some Delaware possibilities but looking for alternative. I also found institution Peoples Bank but they don't offer business accounts for UK company.
 

Martin Everson

Offshore Consultant
Business Angel
Amounts to be received are high (above 3M usd) so it is important there is no limit.
Will this be an incoming third-party wire i.e money not from an account in your existing company name?

Basically high value USD wires are very high risk for a bank or EMI and especially for a new relationship if the money comes from a thirdparty.
 

SeriousOne

New Member
Will this be an incoming third-party wire i.e money not from an account in your existing company name?
Both ach and incoming wire. Yes, incoming transfers (wire, ach) from third party.

The account is needed to receive investments from investors on very unique and futuristic technology product. Actually company is UK one and I am not worried about asking mainly for USA investors but what i am worried is that I could risk not getting investments just because business bank account is neither in UK (it won't be) nor in USA. It worries me that USA investors, for UK company, would expect to send invested money only to USA bank account. In their mindset it may be logical that USA investors equal USA bank account (our company business account). If offshore (e.g. Seychelles is the cheapest) it could be extremely risky because investors may simply say ''no'' just because of this... Thats why I am trying my best to find Borderless alternative - free of charge USA business bank account. As I said, amounts will be very high for investments but the good news is that this USA business bank account wouldn't be used for income (revenue incoming transfers).
 

Martin Everson

Offshore Consultant
Business Angel
The account is needed to receive investments from investors
The above is a game changer sadly :(. So are you saying you set up a UK company and are looking for third-party US investors and hence want local incoming ACH details to appear legit and competent?

Ok I will get to the point quickly...you got between zero and -10% chance of getting a USD account for such activity. Had you needed an ACH account for basic selling of goods and service it would still be a struggle but doable. However to receive third-party investment money from U.S clients eek¤%& most banks and EMI's will run a mile.

You can however try paxumbank.com however receiving large amounts of investor money i.e $3m+ seems highly unlikely plus paxumbank is offshore. Try and put your new business on an existing investor platform and use any services they offer to facilitate payments.
 

HiHello

New Member
The above is a game changer sadly :(. So are you saying you set up a UK company and are looking for third-party US investors and hence want local incoming ACH details to appear legit and competent?

Ok I will get to the point quickly...you got between zero and -10% chance of getting a USD account for such activity. Had you needed an ACH account for basic selling of goods and service it would still be a struggle but doable. However to receive third-party investment money from U.S clients eek¤%& most banks and EMI's will run a mile.

You can however try paxumbank.com however receiving large amounts of investor money i.e $3m+ seems highly unlikely plus paxumbank is offshore. Try and put your new business on an existing investor platform and use any services they offer to facilitate payments.
Appear legit? Everything is 100% legal and legitimate. The last thing I am worried is failing to prove this. Its for StartUp company, innovative technology product. Business plan and technical plan are ready but company is yet to be registered. I haven't done yet because I don't know what will investors require: % of ownership or % of revenue for limited time. The product is very unique that the world has never seen but what worries, rather than finding investors, is the fact that committed investors may not like that I/we have UK company, asking for (mainly) USA investors but business bank account in some completely different country. This could everything. Imagine if I presented the idea to you as USA investor (from where you actually are doesn't matter in this imagination), you would like it and you would require % of company ownership in order to invest few hundreds of thousands or few millions. I would agree. Then I tell you that startup company is going to be formed in UK. So far you would probably say OK, no problem. Then i would go ahead and register the company with my team members and your name as co-owner. Then I come back to you, give you a copy of company documentation for your records. So far you would like it and ask me where to send, via bank transfer, your invested money. I would tell you some X country, e.g. Seychelles or whichever. How would you react? You would probably think twice if this is really a serious deal, particularly because of EXTREMELY futuristic innovative idea.

Now you see why I am trying to hard to open, free of charge, USA business bank account. Perhaps UK would also be good, even better, option. But I don't know any such business banking solution without need of personal visit and no limits of incoming/outgoing transfers.

To answer your question: Yes UK company and mainly (but not only!) USA investors. Also some UK investors. ACH isn't required, it could be wire too.
 

Martin Everson

Offshore Consultant
Business Angel
Why are you using two accounts on the forum out of interest?ns2

I think you accidentally replied under the wrong account HiHello I think you wanted to use your SeriousOne ...lol. Anyway good luck with whatever you are up to ns2.
 

regis1

New Member
well if you aren't able to pitch your idea clearly to Lord Everson, are you really sure that you'll be able to pitch to a bunch of investors asking for their money ?
I am sorry but your plan smell dodgy from really far away :)
 

Martin Everson

Offshore Consultant
Business Angel
He doesn't even appear legit in his posts here using two different accounts. I am pretty sure he has a pipe dream of getting $3m+ from US investors.
 
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