OPENING A U.S. BANK ACCOUNT

For our investors only!

Having a local U.S. bank account makes it more convenient to manage our money overseas and we recommend that our investors do this if possible, before taking final ownership of their investment property, although it can be done after. .

Having access to a U.S. bank accountwill give you the technical tools to transfer money, pay bills and have accessible documentation for declaring income tax.


In this report we will make every attempt to offer all the relevant details about opening and using a U.S. bank account.


Advantages of having a bank account in the U.S.

  • 1-On-line banking allows you to make any necessary payments directly from your account
  • 2-Transfer money from Israel to the United States without having to get a waiver of income tax deduction from the Israeli income tax authorities.
  • 3-Save on bank fees – having your monthly income deposited directly into your U.S. account saves international wire transfer fees ($40 each time) to wire the money to your account in Israel
  • 4-Have a U.S. bank debit card allows you to make on line purchases (or purchases when you travel outside of Israel) in dollars and avoid paying double currency conversion fees
  • 5-Having U.S. checks allow you to make payments and avoid bank transaction fees
  • 6-



There are 2 ways to open a bank account in the United States

1-Opening the account during a visit to the U.S.
Anyone can physically go into any bank in the United States and with the proper documentation open an account on the spot. You will need your passport, an additional form of picture ID with your name printed in English (driver's license) as well as a document verifying your Israeli address (Electric, water or Arnona invoice translated to English).

** For non-U.S. citizens, if you have already applied for and received an ITIN number (like a Social Security number for no U.S. citizens for the purpose of reporting U.S. income tax) you must bring that official document also.

** If you have already opened an LLC (a U.S. company for the purpose of owning your investment property) and wish the bank account to be in the name of the LLC you also need to bring your official Article of Organization, your official EIN document and if the LLC is owned by more than one person, an LLC Operating Agreement.

2-Opening a U.S. bank account from Israel

American Eagle Equity can help our investors open a U.S. bank account from Israel without having to physically visit the U.S.
Please contact us directly in order to get more information and costs for our services.

Important note: U.S. banking regulations change from time to time without prior notice.

Questions and Answers about U.S. bank accounts:

Are there monthly bank fees?

Yes. Account management fees differ from bank to bank so it's best to ask the bank where you wish to open your account directly. There are also ways to avoid paying monthly charges. Best to check with the bank.


Are there fees to transfer money within the United States?

Within the United States, you can transfer money between accounts and banks (to accounts other than your own) via ACH transactions which are limited to $2000 per day and are free of charge. Your property management company will use ACH to transfer your monthly rent income to your account. Larger amounts will cost between $30-$35 per transaction. Again, it's best to check with your intended bank.

Are there fees to transfer money from the U.S. to Israel?

There are different ways to get your money from the U.S. to your account in Israel. The simplest way, but not the quickest, is to write a check from your U.S. account and deposit it directly into your Israeli account. Your bank in Israel will charge you a dollar check deposit fee of $2-$5, and a currency conversion fee of at least 1% of the deposit amount.

You can also withdraw cash from any Israeli ATM machine using your U.S. debit card. These withdrawals also have a 5% fee.


At American Eagle Equity we have solutions for international wire transfers which will save you the banking fees as well as more than 50% of the banks commission.

Can I open a business account in the U.S.?

Yes, but first you need to open an LLC. We discuss that in another page in this section of our web site.

You will need your passport, an additional form of picture ID with your name printed in English (driver's license) as well as a document verifying your Israeli address (Electric, water or Arnona invoice translated to English. You also need your official Article of Organization, your official EIN document and if the LLC is owned by more than one person, an LLC Operating Agreement.

If your U.S. property is going to be owned by your LLC then we highly recommend that the bank account receiving the rental income be in the name of the LLC.

American Eagle Equity can help our investors open a U.S. bank account for their LLC from Israel without having to physically visit the U.S. 

Please contact us directly in order to get more information and costs for our services.

Important note: U.S. banking regulations change from time to time without prior notice.