The banking system in the US took off rapidly when Congress passed the Federal Reserve Act. Credit and financial institutions, headed by the American Reserve Bank, act as a guarantor of the safety of funds, which, together with the level of service, ensures a steady growth in deposits, including tools like Payday Depot and other attractive opportunities.
Major American banks
The rating of the most famous American banks is at the same time a significant component of the list of the largest financial institutions in the world. Their fortune is steadily growing and, according to experts, is estimated at billions of dollars. According to official data, the top American banks include the following three organizations, whose names are well known for a long time.
Bank of America
The history of the organization began in 1928 and over the next decades, it successfully won the status of a financial conglomerate. A wide range of services provided meets all the requirements of legal entities and individuals.
Bank of America is the national American bank with assets of over $2.3 trillion in the Forbes magazine ranking 23rd. The structure of the financial organization includes branches in all states of America, as well as many branches in 35 countries around the world. The entire network is coordinated by 5 main divisions, each of which is responsible for a specific direction. The service sector covers areas ranging from consumer banking, issuing loans, servicing accounts, a depository, and ending global processes with trading on various stock exchanges.
JPMorgan Chase
With assets of about $ 2.6 trillion, this organization leads the largest American banks.
The structure is the result of a merger in 2000 of two financial institutions, which already in 2015 allowed it to receive the status of the best investment institution and take 6th place in the Forbes ranking among the most successful public companies.
JPMorgan Chase has a wide range of banking products and regional offices outside the country but provides retail services only in the United States.
Citigroup Inc.
Represents an influential conglomerate as a product of the merger of Travelers Group and Citicorp with assets of over $1.9 trillion. According to 2010 statistics, the bank serves over 200 million customers from 139 countries. The structure has representative offices on five continents.
Can a foreigner open a personal account in a US bank?
American law does not provide for foreign citizens any restrictions and prohibitions. The difficulties that may arise in this matter are rare and relate to paperwork, for example:
- In most cases, this is the absence of any document from the established list.
- As for the second reason, one can indicate the peculiarities of the organization when the bank does not cooperate with foreigners. It is this circumstance that is the source of rumors that non-residents of the United States, cannot open an account in American banks.
Nevertheless, there are no problems in contacting the bank that you are interested in and you will easily get all the details about the service and the required documents.
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