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I've applied for several accounts, and all of them were denied, most instantly. I have an 800+ credit score, a clean checking history, and so on. I do not have any business financial history - but certainly one needs to start somewhere? What are likely reasons I'm being denied, and how does a new business establish footing with a bank?

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  • did you talk with your local bank? Jan 13, 2023 at 17:38
  • @mhoran_psprep while I have a permanent physical address in the US, I don't get there often. I spend a lot of time outside of the US. I don't mention this on the app, as it's not asked. Jan 13, 2023 at 17:44
  • Not mentioning things could be why... I agree with the suggestion to ask the bank(s) whether it's because of that or something else.
    – keshlam
    Jan 13, 2023 at 17:54

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You're describing a situation where you're living outside the US (or at least, currently are outside the US, and don't get there often) and are trying to open an online business account for a brand new business.

If you're trying to open an account online specifying a US residence/mailing address with IP from the other side of the world - it is not surprising that they don't let you.

You'll need to reach out to the banks in person to prove your identity, or at least over the phone. They may want you to mail/fax/email in additional documentation. Consider using banks that also have presence in your current country of residency. Maybe the ability to walk into the local branch to talk to them would prove helpful (for opening the account and later using it).

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  • I've had to provide identity to a few by their automated process. My business is two years old (though not profitable as it's in development); this is asked on the application as well. For a few of the applications I've used my VPN which terminates in the US. All are rejected as mentioned, several via automated systems. Jan 14, 2023 at 10:50
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    @HorseHair-CensureMonica I agree with this answer's statement, "reach out to the banks in person to prove your identity, or at least over the phone." Most banks have "business bankers" specifically for the purpose of brining in new business clients. Call them and they will guide you through the process.
    – TTT
    Jan 14, 2023 at 16:42
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    @HorseHair-CensureMonica VPN is detectable and will only cause more security scrutiny. You'll need to talk to them.
    – littleadv
    Jan 14, 2023 at 19:53
  • @littleadv I run my own VPN with my own exit server. Since I'm getting automatic denials most of the time, with VPN or without, I don't think that's the issue. Jan 15, 2023 at 10:10
  • @HorseHair-CensureMonica even more reasons to talk to the bank. What answer do you expect to get here exactly?
    – littleadv
    Jan 15, 2023 at 19:05

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