I. Advantages of opening a U.S. BOA account:
1、The account is in your own hands, and the funds are safer.
2、Using in China and transferring money to China will not be blocked.
3, to receive the United States local customers and other customers in North America, the money is convenient, immediate payment, while the local customer payment handling fee is very low or zero.
5. No U.S. shipping address is required.
6, the biggest advantage: BOA bank account opening whether it is a company or an individual account, do not have to go to the United States. And no video, no face tag, only need to give us information to help it do, convenient and easy to use, simple information!
U.S. Bank Account Opening Required Information
U.S. Companies Open BOA Bank Accounts
1. Certificate of Incorporation of a U.S. corporation.
2. A copy of the bank teller's passport.
3. U.S. corporation federal tax ID number document.
4, open account information form (need to truthfully fill in the details of the bank account holder, so that the bank to verify the information to ensure that customers can transfer funds normally);
5、Corporate registration of all shareholders in English and Chinese name signatures (name signatures require that the first name in front of the last name at the end);
6. Before opening a bank account, you need to pay the activation fee in advance.
7. Processing time: about one week after the activation payment arrives.
Individuals opening a BOA bank account
Passport, ID card front and back, scanned copy
The process of opening an account with BOA Bank in the U.S.
1、Customer confirms to do, prepare the bank record information form (we can provide);
2、Submit the required information for bank account opening;
3. We submit the relevant information to the Bank of America;
4、Customer remits the activation payment required to open an account in the United States;
5, bank account number, Internet banking ID password (for security reasons, customers should change the password at the first time after logging in), bank card;
6. Open the online banking inquiry function.
Due upon account opening at Bank of America:
Bank checking account number, checkbook (fee required)
Bank of America Online Banking Operations:
Inquire about receipt and payment records, balances, receive remittances, and make payments for domestic transfers in the U.S.
BOA Bank has two types of accounts in common use.
1、Checking account checking account
Opening a U.S. bank account and checking account means that you can withdraw money from ATMs or bank counters, make purchases with your credit card, and pay online.
2. Savings account, savings account
When you open a bank account in the U.S., a savings account is equivalent to a domestic demand deposit, which earns a certain amount of interest, but can be transferred in and out very easily, i.e., if you want to use the money in your savings account, you can transfer it to your checking account and use it. If you want to use the money in your savings account, you can transfer it to your checking account and use it. Or, if you want to withdraw the money from your savings account, you can withdraw it from the bank at the counter.
Savings account cannot be withdrawn and the money in it cannot be spent. So if you want to use the money in savings account, you have to transfer the money to checking account before you can use it. It is also because savings account cannot be consumed or withdrawn, so it is relatively safe and suitable for storing higher amount of deposits.
Note: Generally speaking, banks will limit the number of times a savings account can be transferred out, and BOA requires that the number of transfers cannot exceed 6 times in a month. After 6 times, each transfer will be charged $10 handling fee.
Management Fee: The monthly management fee for Savings Account is $8. If you can guarantee that the daily balance of your Saving Account is more than $500, then this fee will be waived. checking account with a deposit of more than $1,500 is exempted from the monthly management fee. For checking account, the monthly management fee is $12 per month if the balance is below $1500.
Handling fee for telegraphic transfer:
Remittance to U.S. Domestic Accounts: $30/transaction
Outward remittance to U.S. offshore accounts (in foreign currency): $35/transaction
Outward remittance to accounts outside the U.S. (in U.S. dollars): $45 per remittance
T/T inward remittance handling fee:
U.S. Domestic Import: $12 per transaction
Overseas Inward Remittance (USD): 15 USD/stroke
Overseas Inward Remittance (Foreign Currency): US$35/stroke
V. BOA Bank Withdrawal
Bank of America charges $16 for transactions transferred from abroad and $35 for transactions transferred from a U.S. bank. Pros: cash out immediately, no charge on the US side, Cons: usually there is a limit.
International Electronic Wire Transfer (IEWT) is the most typical and traditional way to transfer money. There is no limit to the amount of money that can be transferred, but it takes a few days for the money to arrive, and generally speaking, both banks charge a handling fee.
How to transfer money to a bank in the U.S.
ACH Push / ACH Pull (for transfers within the U.S.)
The most common way to transfer money between different banks under your name is ACH Push / ACH Pull, which can also be collectively referred to as ACH Transfer. ACH is the full name of Automated Clearing House, an electronic clearing house in the United States. Assuming we need to transfer money from bank A to bank B, there are two ways you can perform this operation:
-When you operate in Bank A, you push money to Bank B. This operation is called ACH Push;
-When you operate in Bank B, you are pulling money from Bank A. This operation is called ACH Pull.
In the internet banking interface, ACH Transfer is often simply called transfer, in the case of BOA, see below:
The basic features of ACH Transfer are as follows:
-The required information is: Routing number and Account number.
-Transfers can only be made between banks in the United States.
-Usually it takes 1~3 business days to complete the transaction.
-Fees depend on the bank.
1、Checking account checking account
Opening a U.S. bank account and checking account means that you can withdraw money from ATMs or bank counters, make purchases with your credit card, and pay online.
Even though ACH Transfer is convenient and basically free, there are still some needs it can't fulfill. If you need money in your account in a hurry, ACH Transfer takes too long to complete the transaction. If you want to send money between countries, ACH Transfer can't do that either. That's where Wire Transfer comes in, a means of direct communication between banks that has been in use since the invention of the telegraph about 150 years ago.
In the case of BOA, for example, in the case of Same-day Wire transfer, it is written very clearly that it is Wire Transfer and not ordinary transfer:
The basic features of Wire Transfer are as follows:
-The required information is: name and address of the payee, information of the payee bank. In case of remittance to China, the required information of the beneficiary bank is: name of the branch, SWIFT code of the branch, account number.
-Usually immediately to the account.
-Both the sender and receiver may be charged, with specific fees varying by bank and account level.
Bank of America Debit Card Tips
1, the U.S. debit card have visa channel, that is, in some cases can be used directly as a credit card. Therefore, if someone finds your debit card and wants to steal it, he can only use the money in the checking account and cannot spend the money in the savings account.
2, the U.S. debit card not only has visa channel there is an expiration date, the U.S. bank card at any time before the expiration of the expiration date of the new card mailed to the customer's home, or the bank's risk alert system to determine the customer's bank card at risk, such as an unknown merchant deductions or by international credit card organizations to steal the number of the bank will take the initiative to send a new card to the guest. Therefore, the customer's checking and savings accounts with the bank are unique and cannot be changed, while the debit card corresponding to the checking account can be replaced at any time.
3, there is a very important concept, the U.S. bank card is a checking account in the use of money in the way, that is, with a bank card in order to spend money out. To transfer money to a checking account, you must use the account number of the checking account.
4, bank card type and bank card number and checking account of the logical relationship: savings account ← casually transfer money → checking account → → debit card through the money spent → → consumption or cash.
Warm tips: debit card has a certain amount of overdraft function, but it is very not recommended to spend more than the checking account limit, because once the debit card is overdrawn, short-term repayment will be charged a high fee at the same time will affect the account owner's credit.
EN 
ZH_TW 
ZH