Opening an Account in Bank of America

What You Need to Know Before Opening an Account in Bank of America

The first questions potential clients ask are how to open an account in Bank of America for business representatives and how long the process takes. Application review times range from 7 to 20 days, depending on:

• Whether the bank administration has questions about the company’s activities and requires additional documents.
• The accuracy and completeness of the application.
• Whether the company has a presence in the United States.

Next, you should review the current bank fees. At present, the following charges apply:

• Account maintenance — from USD 10.
• Domestic and international transactions — from USD 0.45.
• Cash withdrawals — free at Bank of America branches or from USD 2.5 at third-party institutions.

There are no minimum balance requirements. Before opening an account in Bank of America, thorough document preparation is necessary. Business clients must provide standard registration papers and the company charter, as well as prepare personal details of responsible individuals. This includes passports, international passports, and proof of U.S. residence for the account manager. Beneficiaries may also present a driver’s license or other identification. The full package must be submitted in person by the owner or an authorized representative.

How to Open an Account in Bank of America and Avoid Rejection

As with any major bank, Bank of America may deny account registration if documents are incomplete or banking forms are filled out incorrectly. To minimize risks and avoid rejection, turn to the experts at Incluence. We will promptly help you compile the correct document package and provide support throughout the account management process.