Overseas Bank Accounts for Online Businesses

Online Business Bank Account

With the rapid advancement of technology the banking industry has had to adapt to meet the present and future needs of its customers. Banks now offer a wide variety of financial services and features to suit all businesses including those based in a foreign country or operating primarily online. For online businesses an overseas bank account is one of the best options now available.

Banking needs of Online Businesses

Just like brick-and-mortar companies online businesses require a bank account. Whether the online business is involved in Forex, lottery, e-commerce, fashion, tourism, gaming, media or affiliates it will need a bank account and a bank that provides comprehensive financial services. By working with a global financial service provider an online company can run smoothly without any concerns about its banking. Bank account for Affiliate marketers for example can open their corporate bank account from countries across the globe and operate without any banking headaches using the services of an international financial service provider.

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International Business Bank Accounts

When opening a business bank account it is important that the bank understands the nature of your online business and provides the services you need. This makes opening an overseas bank account for an online business more complex than opening one for a regular business. An overseas business account is often the better fit for online businesses.

There are many different types of online businesses and your chosen overseas bank’s compliance department will have to understand your line of business in order to approve your account.

This problem is solved by the existence of global financial service providers or PSP’s.

The Easiest Way to Open a Corporate Bank Account for an Online Business

Global financial service providers usually have a broader understanding of online businesses. They can analyze the structure and activities of your online business then recommend the bank which best meets your needs. The financial service provider then works with you towards opening an account with an overseas bank without you having to physically visit the bank. With the help of an international financial service provider you can accomplish the entire application process and open your corporate account with a foreign bank online from a remote location. The financial service provider deals with the entire process from beginning to end on your behalf.

To open a business bank account you will need to provide: business owner’s ID; a referral letter from your current bank; proof of address; Certificate of Incumbency; Certificate of Incorporation; Memorandum of Association and Article of Association. The advantages of an overseas bank account for online businesses include: limited company liability; online transfers and remote access; a virtual office; high level of privacy and a range of payment options.

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