Opening a US business bank account as a non-resident is not only possible — it is the most important step you will take after forming your LLC. Without it, you cannot receive payouts from Stripe, Shopify, or Amazon, pay US vendors, or establish your business as a legitimate US entity.
This guide covers everything a non-resident or foreign national needs to know: which banks and fintechs accept applications in 2026 (and which ones do not, based on your country of residence), exactly what documents you need, which countries face legal or platform restrictions, and a clear step-by-step process to get your account open without traveling to the United States.
Yes. Non-US residents can open a US business bank account, but the process is different from opening a personal account. The most reliable path is to first form a US LLC or Corporation, obtain an EIN (Employer Identification Number) from the IRS, and then apply through one of the online banking platforms covered below.
You do not need to travel to the United States. Mercury, Wise, Airwallex, and Lili all offer fully remote account opening for foreign-owned LLCs.
It is worth noting that requirements have tightened since 2023. Several platforms now require evidence of US business activity, and country restrictions have expanded beyond OFAC-sanctioned states — each platform maintains its own internal eligibility list. The guide below reflects the current requirements as of mid-2026.
Before getting into the how, it helps to understand why a US business bank account is worth the effort.
Most international trade is conducted in USD. A USD account in the United States means you can send and receive funds from all over the world. When you receive payments from your customers, they will most likely pay in USD, and you can accept them without converting to your local currency — and without absorbing foreign exchange losses.
If you run an online business, you are likely receiving payouts from Stripe, Shopify Payments, Amazon, Google AdSense, or PayPal. Most major US payment processors require a US bank account to issue payouts to a US LLC. Stripe in particular requires both an EIN and a US bank account before non-resident LLC owners can activate payouts on a US Stripe account — you cannot substitute a foreign bank account. Read our full guide on accepting online payments with Stripe.
The United States has one of the best banking reputations in the world. Payments sent to or received from US bank accounts are rarely scrutinised as closely as those from other jurisdictions. This is in stark contrast to banks in Panama, the Seychelles, France, or Malaysia, where you are often asked to explain the nature of large transactions and provide supporting documentation.
If you bank in the United States, the FDIC (Federal Deposit Insurance Corporation) insures your deposits up to $250,000 per depositor per institution. That exceeds the depositor protection limits in Singapore (SGD 100,000, approximately USD 75,000) and the European Union (€100,000). The FDIC is an independent agency created by Congress to maintain stability and public confidence in the nation's banks — your deposits are protected from losses due to a bank failure.
Some online banking platforms extend this further: Mercury, for example, offers extended FDIC coverage up to $5 million through its cash sweep programme, spreading deposits across multiple partner banks.
Having a US business bank account allows you to build a US credit profile. With an established credit history, you can qualify for US business credit cards with rewards, cash back, and sign-up bonuses that are considerably better than what most non-US credit cards offer.
The CRS (Common Reporting Standard) is an OECD-led initiative through which participating countries automatically exchange financial account information with each other's tax authorities. The United States does not participate in CRS. Instead, the US operates FATCA (Foreign Account Tax Compliance Act), which requires foreign banks to report on US persons' accounts — not the other way around.
In practical terms, your US business bank balance is not automatically reported to your home country's tax authority under CRS. This is a meaningful privacy distinction — though it does not change your tax obligations in your home country, which you should discuss with a local accountant.
Related: How to keep LLC ownership private.
Having your documents ready before you apply prevents delays and rejections. Here is everything you need:
A US business bank account requires a US legal entity. You cannot open one as a foreign individual without an LLC or Corporation registered in the US. You will need your Certificate of Formation (for LLCs) or Articles of Incorporation (for Corporations) ready to upload.
If you have not formed your LLC yet, our guide on registering a US company from abroad walks through the full process step by step.
Your EIN is your LLC's tax identification number, issued by the IRS. It is the equivalent of a company tax ID in your home country. Banks require your EIN before they will open a business account — you cannot substitute an SSN or ITIN here. The EIN belongs to the company.
Most banks accept either the IRS CP 575 (the original EIN confirmation letter) or a 147C letter (an EIN verification letter you can request from the IRS by phone or fax). The 147C is particularly useful if you applied by fax and are still waiting for CP 575.
Related: What is a 147C letter and how do you get one?
Your LLC needs a US address for the bank application. Your registered agent address — provided as part of your LLC formation — is acceptable for this purpose with most platforms, including Mercury.
What banks require alongside your LLC's US address is proof of your personal residential address in your home country: a utility bill, bank statement, or government letter showing your name and home address. If you are based in the UK, Malaysia, India, or elsewhere, you will need a document confirming that personal address. This is separate from your LLC's US business address and is a standard compliance requirement.
Some platforms scrutinize the US address more closely and may require an address that reflects a working business premise rather than a registered agent address. Requirements vary by platform, so confirm each platform's specific requirements before applying.
Related: Can I use a home address for my LLC?
Most banks will ask for your LLC Operating Agreement as part of the account opening process. This document establishes who owns the LLC, how it is managed, and how decisions are made. If you formed your LLC through Startfleet, we’ll share an Operating Agreement template, which you can edit as per your need.
Related: LLC Operating Agreement — what it is and why you need it.
Under FinCEN's Customer Due Diligence (CDD) Rule, every US bank must collect beneficial ownership information before opening a business account. You will be required to identify any individual who owns 25% or more of the LLC, as well as the "control person" (typically the managing member).
Expect to provide your full legal name, date of birth, residential address, and passport or government-issued ID number. This is standard for all US business bank account openings — domestic or foreign — and is separate from the LLC formation process.
Note: This is separate from the Corporate Transparency Act (CTA) BOI filing requirement, which has had its enforcement suspended pending court rulings. The bank's CDD collection is a different obligation — it is the bank's own regulatory duty, not yours to file.
For non-US residents, a passport is required — it is the only internationally recognised form of government-issued photo ID that US banking platforms accept. A driver's licence may be accepted as a primary document only for US citizens or permanent residents. All platforms will require your passport to be current (non-expired). Most also require a selfie or a short video verification.
Some banking platforms require a US phone number for SMS verification; others do not.
Relay may request evidence that your LLC has or expects to have US business activity. A website, client contracts, invoices, or a clear description of your business model are all acceptable. This is not required by every platform, but have these ready if you are applying with a brand-new LLC.
Country restrictions come from two distinct sources and it is important to understand the difference.
The US Office of Foreign Assets Control (OFAC) administers sanctions programmes that legally prohibit US financial institutions from serving certain individuals and entities. The comprehensively sanctioned countries — where virtually no US banking activity is possible — are:
Other countries have targeted or sectoral sanctions (specific industries, government entities, or named individuals) rather than a blanket prohibition on all banking activity. These include Belarus, Russia (particularly Crimea, Donetsk, and Luhansk regions), Venezuela, and Myanmar. Residents of these countries are not automatically prohibited from opening a US business account, but many fintechs decline them as a risk management decision regardless.
This is where the picture gets more complex — and where many guides mislead readers.
US fintechs and their underlying FDIC partner banks maintain their own internal Anti-Money Laundering (AML) risk assessments that go far beyond OFAC requirements. A country may have no OFAC sanctions and still be on a platform's prohibited list.
Mercury's prohibited-country list extends well beyond OFAC and is one of the longest among fintech platforms — including several countries that may surprise you (such as Bangladesh, Indonesia, Philippines, and Vietnam alongside higher-risk jurisdictions). Check the full list before applying.
Relay's prohibited-country list is shorter than Mercury's. Notably, Pakistan and Nigeria are on it, but Bangladesh, Philippines, Indonesia, and Vietnam are not — so Relay can be an option where Mercury is not.
Lili operates an allow-list model rather than a prohibited-country list. It only accepts non-US applicants from a defined set of 14 countries. If your country is not explicitly listed there, you are ineligible regardless of your documents.
Wise Business has a shorter restricted list focused on higher-risk jurisdictions.
Airwallex accepts a wider range of nationalities than Mercury or Relay.
The rule of thumb: Not being on the OFAC list does not mean any given platform will accept you. Always check each platform's current eligibility page directly before applying — these lists change without public notice.
Online banking platforms — neo-banks — are the most accessible path for non-residents. They are built for remote account opening, do not require in-person visits, accept applications from most countries, and have no minimum deposit requirements. Most are FDIC-insured through partner banks and function identically to a standard US business checking account.
This is the path we recommend for the vast majority of non-residents forming a US LLC. See the full breakdown of recommended platforms in the next section.
If you are able to travel to the United States, traditional banks offer stronger long-term banking relationships, higher transaction limits, and access to business loans. However, the experience varies significantly by branch.
A few things to know before walking into a branch:
If your home bank has a US presence or US banking partner, you may be able to open a US account through that relationship without traveling.
Citibank has branches across dozens of countries. Citigold account holders can sometimes request a remote US account opening through their local relationship manager. The same applies to HSBC Premier customers, given HSBC's US branch network.
This is not guaranteed — it depends on your relationship tier and the specific policies of the US branch. But if you hold a premium account at an international bank with a US presence, ask before going elsewhere.
Mercury is the most widely used banking platform among non-resident LLC owners. It offers a business checking account and savings account with no monthly fees, no minimum balance, and a clean interface built for startups and online businesses.
Key features:
Mercury accepts non-US residents with US-formed companies, but it is not open to all countries.
Mercury requires: a US-formed LLC or Corporation; an EIN; government ID/passport (for non-residents) for all control persons and 25%+ owners.
Mercury accepts your registered agent address as your US business address; however you will separately need to provide proof of your personal residential address in your home country (such as a utility bill or bank statement from your country of residence).
Mercury maintains its own prohibited-country list beyond OFAC — which currently includes Pakistan, Nigeria, Bangladesh, Indonesia, Philippines, and several other countries. Check Mercury's current eligibility page before applying.
Applications are reviewed individually; approval typically takes 24–48 hours.
Best for: Tech founders, SaaS businesses, e-commerce operators with US customers or operations who are from a Mercury-supported country.
Disclaimer: Mercury is a fintech company, not an FDIC-insured bank. Banking services are provided by Choice Financial Group and Evolve Bank & Trust, Members FDIC. Deposit insurance only covers the failure of an insured bank.
Relay is a digital business banking platform built for cash flow management. Its standout feature is the ability to open up to 20 separate checking accounts within one business, which makes it practical for separating tax reserves, payroll, and operating funds.
Key features:
Relay is best suited to businesses that already have some tangible US presence.
Best for: Businesses that want to separate funds across multiple accounts, teams managing shared expenses, and businesses using QuickBooks or Xero.
Airwallex is a global payments platform with strong multi-currency capabilities.
Key features:
Best for: Non-residents running multi-currency businesses, those receiving payments in multiple currencies, and founders from countries where Mercury may decline.
Wise (formerly TransferWise) has been operating since 2011 and is one of the most established platforms for non-resident LLC owners. In the US, Wise is registered as a Money Services Business (MSB) with FinCEN — it is not a bank and does not hold a banking charter.
This means your Wise balance is not FDIC-insured in the same way as a Mercury or Lili account. Wise holds customer funds in segregated safeguarding accounts at partner institutions, and FDIC pass-through protection on interest-bearing balances may apply for eligible US customers.
For non-residents, treat your Wise balance as safeguarded but not bank-guaranteed.
Key features:
Wise is best suited for non-residents who primarily need multi-currency receiving capabilities and low-cost FX — for example, a founder who invoices in USD, EUR, and GBP and wants to hold all three balances in one place.
Note: Because Wise is not FDIC-insured, it is not ideal as your sole US business bank account. Most non-resident founders use Wise alongside Mercury or Airwallex for operational banking.
Lili is a US business banking app designed for freelancers and self-employed individuals. It supports eligible international founders operating US-registered businesses.
Key features:
Country eligibility restriction: Lili only accepts non-US applicants from a defined list of 14 countries. As of June 2026, the supported countries are: Argentina, Australia, Brazil, Canada, Chile, China, Colombia, India, Israel, Mexico, New Zealand, Norway, United Kingdom, and the United States.
All other nationalities are ineligible regardless of documents provided. Always verify your country's current eligibility at lili.co before applying.
Best for: Solo founders and freelancers from Lili-supported countries who want a simple US business account with built-in bookkeeping tools.
Brex offers corporate cards and expense management. It is primarily built for venture-backed startups and high-growth companies — not solo founders forming their first Wyoming LLC. It does accept non-resident applications, but requires a real US business address and evidence of US operations.
If you are a funded startup with US investors or customers, Brex is worth considering. If you are a solo founder or freelancer just getting started, one of the other platforms on this list will be a better fit.
No. You do not need a Social Security Number (SSN) or an Individual Taxpayer Identification Number (ITIN) to open a US business bank account. The EIN assigned to your LLC is the only tax identification number banks require for a business account.
That said, having an ITIN expands your options — particularly for in-person applications at traditional banks, some of which ask for an individual tax ID in addition to the company's EIN. If you plan to apply for a personal US bank account alongside your business account, an ITIN will be necessary.
You do not need a SSN or ITIN to obtain the EIN for your US Company. An EIN is applied for separately on behalf of the LLC, using IRS Form SS-4.
Related: ITIN vs SSN — what is the difference, and which one do you need?
Related: Benefits of getting an ITIN as a non-resident.
For online platforms (Mercury, Airwallex, Lili), the approval process typically takes 24–48 hours after document submission.
Mercury is the most widely used platform among non-resident LLC owners for its clean interface, no-fee structure, and solid FDIC coverage. Wise and Airwallex are a good choice for businesses with significant multi-currency operations.
Yes. Mercury, Airwallex, Wise Business, and Lili all offer fully remote account opening with no in-person requirement.
Yes. Mercury, Relay, Airwallex, and Lili all offer accounts with no monthly fees.
Opening a bank account is a milestone, but it is part of a broader journey. Here are the related guides in this series:
Kathleen Schweitzer is an international taxation expert, providing strategic counsel to businesses with complex compliance, tax and financial issues in an effort to help them grow their business globally. She often gives lecture on U.S. tax developments, transfer pricing, taxes on the sale of goods and services, U.S. tax policy development, taxation of internet commerce and multi-jurisdictional global tax planning. Kathleen enjoys reading, photography, cooking and spending time with her husband and eleven-year-old daughter.
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