Nevada First Holdings (NFH) offers the service of providing our clients assistance with opening business checking/trading accounts. Currently there are at least three regional/national banks which allow signers that live out of the state of Nevada. Fortunately, NFH may assist its clients with one. Also, NFH may assist with opening trading/checking account with several major trading companies (that provide checking) and/or with the discount traders. We also have associations with several local Nevada banks.
We herein will attempt to explain each bank's requirements to open accounts in Las Vegas, Nevada. It must be understood that the banks change their requirements periodically on a rather subjective basis. The new standards are theoretically based upon the Patriot Act. The issue for the banks is two fold, the Act generally makes the bank responsible to know their customer and the banks are financially responsible for their customers actions. Therefore, policies have been sent down to branch managers that leave them somewhat without reasonable options, for example both Wells Fargo and BofA will not accept Canadian signers or other US allied countries without SSN or TIN. All new customers must appear at a local branch with proper identification and provide either a SSN or TIN or W-8 (NFH will assist) (what does SSN or TIN have to do with knowing your customer? It appears these requirements are IRS sponsored).
Bank of America: Owned by Nations Bank, Now headquartered in North Carolina has now chosen not to support US Constitutional Law and Nevada Law allowing for US citizens to operate corporate checking accounts if not residents of Nevada. However, they will allow illegal aliens to open checking accounts in Los Angeles.
Others, To the best of our knowledge there are no local Banks which will assist in opening Business Accounts for signers that are not residents of the state, the remaining Regional Banks will open accounts with the signers appearance at the local Branch and on a subjective basis. There are special exceptions we at NFH may provide for our clients.
Trading Firms: Require new customers to complete the application forms titled New Account Application (with addendums) plus standard identification, SSN or TIN or EIN (provided by NFH) and signed W-8, Branch appearance not required, bank letter of reference and proper utility bill may be required. When checking services are required, these trading companies have minimal deposit requirements which are substantially larger than normal bank requirements.
Scottrade: Similar to above.
To use the services of NFH to open a business checking/trading account. NFH has certain requirements. The client must have or wish to file a Nevada entity with NFH as the resident agent and use NFH's Office Identify service. To order our business package see Complete Corporate Business Package or Complete LLC Package. To order an account for an existing existing entity, see Bank Account for existing entities.
For additional assistance please feel free to call or e-mail the Director of Client Services, see Contacts.
