🇺🇸

Open US Business Bank Accounts

How foreign nationals can open US business accounts remotely or in-person

🏦

EIN Required

Get your EIN before applying

🌐

Remote Opening

Fintechs allow 100% remote

📄

Formation Docs

LLC/Corp docs required

⏱️

1-5 Days

Typical approval time

Fintech vs Traditional Banks

V

Fintechs (Mercury, Relay)

  • 100% remote account opening
  • No US presence required
  • Fast approval (1-3 days)
  • Lower fees, no minimums
  • Modern API integrations
  • Limited wire transfer amounts

Traditional Banks (Chase, BofA)

  • Usually require in-person visit
  • Higher wire limits
  • Better for large transactions
  • Physical branches available
  • More document requirements
  • May require US address proof

Before You Apply: Prerequisites

V

Required Before Opening

  • US entity formed (LLC or Corp)
  • EIN (Employer ID Number)
  • Operating Agreement or Bylaws
  • Registered Agent in place
  • Valid passport

Common Rejections

  • High-risk country of residence
  • Crypto/gambling business type
  • Incomplete formation documents
  • Mismatched information
  • No clear business purpose
Best for foreign founders - 100% remote opening

Mercury

Fintech / Partner Bank

Most popular choice for startups and foreign founders. Clean interface, strong API, integrates with Stripe and QuickBooks.

Remote opening Non-US residents Free ACH transfers Free wire (domestic) Physical branches $5M+ wires (approval needed)

Relay

Fintech / Partner Bank

Good alternative to Mercury. Multiple checking accounts, no fees, good for separating expenses.

Remote opening Non-US residents Multiple sub-accounts Free ACH Physical branches Wire limits vary

Brex

Fintech / Corporate Cards

Primarily for venture-backed startups. Corporate cards with high limits, no personal guarantee required.

Remote opening VC-backed preferred High credit limits No personal guarantee Physical branches Expense management

Mercury Application Tips

V

Do This

  • Use your LLC/Corp legal name exactly
  • Have website or LinkedIn ready
  • Describe business clearly
  • Upload high-quality doc scans
  • Respond to questions quickly

Avoid This

  • Crypto in business description
  • Money transfer/MSB language
  • Inconsistent information
  • Generic business descriptions
  • Multiple applications
Usually requires in-person branch visit in the US

Chase Business

Traditional / National

Largest US bank. Good for established businesses needing high wire limits and credit lines.

Remote opening Non-US (case by case) Physical branches High wire limits Business credit cards Merchant services

Bank of America Business

Traditional / National

Similar to Chase. Some branches more foreigner-friendly than others. Call ahead.

Remote opening Non-US (branch dependent) Physical branches Treasury management International wires Business lending

Wells Fargo Business

Traditional / National

Less foreigner-friendly historically. Some success with existing personal account holders.

Remote opening Non-US (difficult) Physical branches Business credit Payroll services Varies by branch

In-Person Branch Visit Tips

V

Prepare These

  • All formation docs (originals)
  • EIN confirmation letter
  • Passport + second ID
  • US address (registered agent OK)
  • Initial deposit ($100-500)
  • Business cards/website

Best Practices

  • Schedule appointment first
  • Go to business banking center
  • Bring extra copies of everything
  • Dress professionally
  • Know your business plan
  • Have answers ready for KYC

LLC Required Documents

V

Always Required

  • Articles of Organization (certified)
  • EIN Confirmation (CP575 or SS-4)
  • Operating Agreement (signed)
  • Passport (all members)
  • Proof of address (utility bill)

Sometimes Required

  • Certificate of Good Standing
  • Business license
  • Registered agent letter
  • Resolution authorizing account
  • Ownership chart (multi-member)

Corporation Required Documents

V

Always Required

  • Articles of Incorporation (certified)
  • EIN Confirmation
  • Bylaws
  • Board resolution for account
  • Passport (all officers/directors)

Sometimes Required

  • Stock certificates/cap table
  • Certificate of Good Standing
  • Incumbency certificate
  • Meeting minutes
  • Shareholder agreement

KYC Questions to Expect

V

Be Ready to Answer

  • What does your business do?
  • Who are your customers?
  • Expected monthly revenue?
  • Expected transaction volume?
  • Will you receive international wires?
  • Source of initial funding?
  • Industry/business type?
  • US nexus/presence?

Quick Comparison

Best For Your Situation

V

Foreign Founder, No US Visit Planned

  • Mercury or Relay (fintech)
  • 100% remote opening
  • Good for starting out

Planning US Visit, Need High Limits

  • Chase or Bank of America
  • Open during US trip
  • Better for large wire transfers

VC-Backed Startup

  • Mercury + Brex combination
  • Mercury for banking
  • Brex for corporate cards

Real Estate Investment

  • Traditional bank preferred
  • Title companies prefer them
  • Higher wire limits for closings