If you've been thinking about opening a bank account for a U.S. company recently, there's some bad news—and a solution.

The bad news is: By 2026, leading banks such as JPMorgan Chase, Bank of America (BOA), Citigroup, and Wells Fargo will have alreadyCompletely Eliminate Remote Video Account Opening Channels for Non-Local Residents/Entities. The old method of ”sitting at home, doing a video interview, and opening a U.S. bank account” no longer works.

The solution is this: The path to opening an account in compliance with regulations has not been cut off; it has simply shifted—from ”online video” to ”in-person verification + custody by a professional service provider.”

This article breaks down the latest policies for opening bank accounts in the U.S. in 2026, compares major banks, provides a comprehensive list of required documents, and outlines the compliance process.

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I. Why was the remote video account opening service suddenly suspended?

This is the result of three factors combined:

Tight Regulatory Scrutiny: FinCEN (Financial Crimes Enforcement Network) continued to step up anti-money laundering enforcement efforts in 2024–2025, issuing multiple hefty fines to banks and requiring all banks to strengthen ”customer due diligence” (CDD), which mustVerify original documents in person, sign documents in person, and retain paper copiesThe

The Proliferation of Shell Companies: In 2024–2025, a large number of offshore shell companies used remote account-opening channels to handle gray-market fund transfers, resulting in the mass freezing of accounts. To protect themselves from risk, banks took a blanket approach and shut down the video verification channels.

System upgrades are difficult to distinguish: Banks” risk control systems are unable to effectively distinguish between ”compliant cross-border e-commerce sellers” and ”gray-market shell companies," so the easiest solution is to handle everything offline.

The conclusion is:In 2026, any agency claiming to have an ”internal remote video channel” will be considered a gray-market channel. The account will inevitably be frozen within 1 to 3 months after it is opened. Having your money withheld is a minor issue; being placed on the bank’s blacklist is the real problem.

II. Comparison of the Three Major Banks

The Core Logic Behind Choosing a Bank:

• You are a small-to-medium-sized cross-border e-commerce business, and your account is primarily used to receive payments from the platform → East West Bank, offers Chinese-speaking customer service, and has the lowest account opening requirements
• You have local warehousing and employees in the U.S., with annual revenue of $500,000–$1 million → BOA, with a large number of branches and robust online banking capabilities
• If your annual revenue exceeds $1 million and you need to receive large trade payments → J.P. Morgan, but you must travel to the U.S. to be present in person

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III. List of Documents Required to Open an Account

No matter which bank you choose, here is aGeneral Checklist. Make sure you have everything ready before submitting your application; this will save you at least one trip back and forth to gather additional materials.

At the corporate level

At the individual level

Business Level

IV. The Three Stages of the Account Opening Process

Phase 1: Pre-Account Opening Compliance (2–4 weeks)

Before contacting the bank, make sure to take care of these things first:

✅ All required documents for the U.S. company are complete and in order

✅ EIN has been obtained (CP 575 confirmation letter)

✅ Compliance with Registered Agent Address Requirements

✅ The platform store has been linked to a U.S. business entity

✅ The backend transaction data for the past 6 months has been exported and organized

✅ The chain of evidence, including purchase and sale contracts, invoices, and other documents, has been organized.

The most critical value at this stage isPreliminary Screening—Correct any errors in the materials before submitting them to the bank; prepare the documents in the format preferred by the bank in advance. The vast majority of rejections stem from issues at this stage.

Phase 2: On-site Verification of Execution (1–2 weeks)

In 2026, there will be only three ways to open an account in compliance with regulations:

Option A: The actual controller travels to the U.S. + A professional service provider accompanies them throughout the process(The Best Solution According to the Mainstream)

• Pre-screen all materials and align them with the bank's preferences
• Schedule a specific time to open an account (if you schedule it yourself, there is typically a 1- to 3-month wait)
• Co-sitting with a locally licensed or authorized representative, and coaching on interview responses
• Verify original documents on the spot, sign the questionnaire, set up online banking, and set transaction limits
• Activated on the same day or the next business day

Option B: Notarization by a Licensed Attorney as an Alternative to Traveling to the U.S.(Applies to certain regional banks)

• Complete in-person identity verification at an embassy or consulate in China or at an authorized notary office
• Have a state-licensed attorney prepare a notarized document and mail it to the bank
• Attention: Applies only to small and medium-sized sellers with relatively low annual revenue; sellers engaged in large-scale trade may still be required to undergo an in-person interview in the U.S.

Option C: In-person notarization by a local authorized notary in the United States(Suitable for medium- to large-sized enterprises)

• We need to hire a local U.S. operations manager to serve as an authorized signatory.
• The actual controller must still provide documents notarized by an embassy or consulate.
• Banks will conduct a thorough review of the background of the actual controllers and require that local entities have actual office space and bank transaction records.
• Suitable for medium-sized and larger enterprises with annual revenue of over $1 million

Phase 3: Long-Term Maintenance After Account Opening

Opening an account is just the beginning; ongoing maintenance is what really matters:

• Deposit Funds Promptly to Activate: Most banks require that the first deposit be made within 30 to 60 days; otherwise, the account will be placed on hold or closed.
• Monthly Bookkeeping and Timely Tax Filing: Even zero-reporting returns must be filed in compliance with regulations; the banking system will automatically verify the company’s tax filing status.
• Funds Receipt and Payment Matching Agreement: Avoid making large transfers without a note; clearly state the source of each transaction.
• Eliminate the Blurring of Lines Between Public and Private Affairs: Corporate and personal accounts are strictly separated
• Conduct due diligence annually in coordination with the bank(Annual KYC Review): Ensure your information remains consistent, and notify the bank promptly of any address changes.
• Maintain a Minimum Balance: A monthly maintenance fee will be charged if the balance falls below the minimum; failure to maintain the minimum balance for an extended period may result in a downgrade or account closure.

V. The Five Most Common Reasons for Account Opening Rejections

VI. Qicaiying’s U.S. Bank Account Opening Service

Qicaiying has been specializing in cross-border financial and tax compliance for a decade and has helped hundreds of cross-border e-commerce sellers successfully open U.S. bank accounts. We offer more than just ”helping you schedule a bank appointment”—weFrom company registration to account opening to ongoing maintenanceEnd-to-end services:

Services

VII. Differentiated Features of Qicaiying’s Account Opening Services

“Company Registration + Bank Account Opening”—a one-stop service that ensures natural alignment of information

Many sellers handle their U.S. company registration and bank account opening through two separate institutions, which creates a disconnect in information flow. This often results in discrepancies in the documents submitted during the bank account opening process and logical inconsistencies. Qicaiying helps you plan your account opening process right from the company registration stage, ensuring that all documents are issued through a single channel so that the information is naturally consistent.

Exclusive Insights for Cross-Border Sellers

When a bank manager asks you about your ”source of income,” we can help you explain that ”Amazon pays monthly via ACH transfer”—rather than simply saying, ”I make money running a business.” This difference in the level of detail is often the line between approval and rejection.

A Decade of Tax and Financial Compliance Expertise, Backed by Banks’ Trust

Qicaiying’s track record in compliance services is clear for all to see: from company incorporation, tax filing, and annual report maintenance to quarterly bookkeeping, every step is conducted in a standardized and compliant manner—and this track record is precisely what banks value most during their reviews.

VIII. Five Questions for Self-Assessment

Before contacting a bank to open an account, ask yourself these five questions:

1. Is my U.S. company status "Active"? Have all the annual reports been filed on time?

2. Do you still have the original CP 575 confirmation letter for your EIN?

3. Can I provide the complete transaction history from the platform's backend for the past 6 months?

4. Do my company’s registration details (address, shareholders, scope of business) match my actual business operations?

5. Are the intended use and source of my funds clear?

If the answer to any of the above questions is ”unsure” or ”no,” we recommend completing the compliance prerequisites before starting the account opening process.