I have a Mexican corporation as a client. Although they already have an account with Bank of America they wish to open another checking account with a US bank. I'm being told that they would need a SSN and/or a Federal Tax ID number. Is this true with all banks in the US? Is it possible for a foreign corporation to have a US bank account?
There is no universal practice among U.S. banks in this arena. There certainly is no legal requirement that a foreign corporation have a US taxpayer identification number as a prerequisite for a bank account. Some banks simply don't have the knowledge or ability to handle a foreign customer's accounts; others actively seek out such business.
Suggest that your Mexican client try establishing contact with a bank that actively works with customers in Mexico. Some of the larger banks in the border states might be likely candidates.
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There is no universal practice among U.S. banks in this arena. There certainly is no legal requirement that a foreign corporation have a US taxpayer identification number as a prerequisite for a bank account. Some banks simply don't have the knowledge or ability to handle a foreign customer's accounts; others actively seek out such business. 