Free tool
Which accounts accept you?
Answer three questions: where you live, your citizenship, and whether you have an SSN.
Does your LLC need its own bank account?
Yes, in practice, whether it has one member or several. An LLC protects your personal assets only while it is treated as a separate business, and mixing its money with yours is the most common reason courts set that protection aside. A separate account also keeps bookkeeping and tax filings simple, and Stripe, PayPal and clients expect to pay the company, not you. Open it as soon as the LLC has its EIN.
The best business bank accounts for LLCs in 2026
The right account depends less on features than on who you are: where you live, whether you have an SSN, and whether you need a branch. Facts below are from each provider's own site, checked October 5, 2026.
| Provider | Type | Monthly fee | Owners outside the US | SSN | Best for |
|---|---|---|---|---|---|
| MercuryWill not accept a registered agent, PO box or UPS box as the business address. | Fintech | $0 | Yes, unless you live in one of its prohibited countries (by residence) | Not required | Tech startups, SaaS, e-commerce, freelancers |
| Wise BusinessAccount details for receiving USD; the trading address must be physical, not a mail service. | Not a bank | No monthly fee (one-time setup fee) | Yes; US LLCs supported | Only for owners who live in the US or hold a US passport | Founders who get paid in several currencies, and those other providers exclude |
| BluevineAccepts a non-physical legal address. | Fintech | $0 | Yes, for owners living in its 25 listed countries (including India, the UK and Canada) | Not required | Owners living in Bluevine’s 25 eligible countries, including India, the UK and Canada |
| LiliAdditional users must be US residents. | Fintech | $0 (Core), paid plans from $15 | Yes, for citizens of about 20 listed countries (passport and EIN) | Not required for eligible international founders | Solo founders from its listed countries who want Stripe and PayPal sync |
| AirwallexMay ask foreign-run LLCs for a statement from a branch-based US bank. | Fintech | $0 (Explore) | Yes, if the business is US-registered; may ask for proof of US ties | Only for US persons | Businesses paying and getting paid across many currencies |
| RelayGood for US-resident owners. | Fintech | $0 | No; its help center says every beneficial owner needs an SSN | Required | US-resident owners with an SSN, small businesses, agencies |
| Chase BusinessA branch visit is effectively required for owners abroad. | Bank, branch visit | $15/mo (waivable) | In a branch; accepts a foreign tax ID for owners | Not required | Businesses needing physical banking, cash deposits |
| Bank of AmericaFor US-resident owners. | Bank | $16/mo (no fee for the first 12 months, then waivable) | No for online applications ("foreign business customers are unable to apply") | Required | US-resident owners needing traditional banking |
| NovoNeeds a US residential address and US mobile number. | Fintech | $0 | No; US residents with an SSN only | Required (ITIN not accepted) | US-resident freelancers and small businesses |
Free business bank accounts for LLCs
These have a no-monthly-fee option: Mercury, Wise Business, Bluevine, Lili, Airwallex, Relay, Novo. Traditional banks charge a monthly fee that they waive if you meet conditions such as a minimum balance. Watch the costs that are not monthly: wire fees, currency conversion and card fees.
Online-only or a traditional bank?
Most online business accounts are run by fintech companies, with the deposits held at partner banks that are FDIC members; they open fully online and suit businesses paid by card, ACH and wire. Traditional banks such as Chase and Bank of America offer branches, cash deposits and lending, but usually expect US-resident owners or a branch visit. If you never handle cash and live outside the US, an online provider is normally the practical choice.
How to open an LLC bank account online
- Form the LLC and get its formation document from the state.
- Get the EIN and keep the IRS confirmation (how to get an EIN).
- Write the operating agreement, especially with more than one owner (free generator).
- Check eligibility for your country with the bank account checker.
- Apply online with the documents below, using the LLC's exact legal name and a real operating address.
- Verify identity for each owner of 25% or more and one person who controls the LLC.
Step-by-step detail: how to open a business bank account.
Documents you need
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Business Tax Number
Your LLC tax identification number from the IRS
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Articles of Organization
Filed with the state to create your LLC
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Operating Agreement
Internal document governing LLC operations
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Valid Passport
Government-issued photo ID from your home country
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Proof of Address
Utility bill or bank statement from your home country
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US Mailing Address
A US address for receiving mail
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US Phone Number
A US-based phone number for verification
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Website or Business Description
Evidence of your business activity
Opening a US business bank account as a non-resident
You do not need an SSN, a visa or a US trip at the providers that accept non-resident owners remotely: Mercury, Wise Business, Bluevine, Lili, Airwallex. Each draws its own line:
- Mercury goes by your country of residence and publishes a prohibited list (it includes Nigeria, Pakistan, Bangladesh and the Philippines).
- Bluevine accepts owners who live in 25 listed countries; Lili goes by citizenship of about 20 countries.
- Wise supports US LLCs without an owner-country list, which makes it the remaining remote option for founders other providers exclude.
- Chase accepts a foreign tax ID but effectively needs a branch visit; Bank of America online is closed to foreign business customers; Relay and Novo need an SSN.
The full guide is banking for non-residents, and the US LLC for non-residents guide covers the rest of the setup.
Getting paid: Stripe, PayPal and payouts
A US LLC with a US account and EIN can open US Stripe and PayPal accounts in the company's name; the people behind it still verify with their passports. Stripe lists Wise as a supported payout account but warns of higher failure rates; Payoneer is less reliable for Stripe payouts (see Stripe payout accounts). Country guides: Stripe, PayPal, Wise and Payoneer by country.
Why LLC bank applications get declined
- Name mismatch between the application, the state record and the EIN letter.
- A vague business description or no website.
- A registered agent or mail-forwarding address given as the operating address.
- The owner's country is on the provider's excluded list.
- A high-risk industry the provider does not serve.
- The EIN is too new to verify; wait and reapply with the IRS letter.
Frequently asked questions
Does an LLC need a business bank account?
In practice, yes. Keeping the LLC’s money separate from yours is what keeps the liability protection credible, it makes bookkeeping and tax filings straightforward, and Stripe, PayPal and most clients expect to pay the company, not you.
Can I open an LLC bank account without an EIN?
Almost never. Banks and fintechs ask for the IRS EIN document (CP 575, Letter 147C or the IRS-returned SS-4) along with the formation document. Get the EIN first.
Can I use my registered agent’s address?
Usually only as the legal address. Mercury, Brex and Relay reject a registered agent address as the business address, and Wise and Revolut reject virtual addresses for the trading address. Give your real operating address, which can be abroad where the provider allows it.
Is Mercury a bank?
No. Mercury is a fintech company, not an FDIC-insured bank. Banking services are provided through Choice Financial Group and Column N.A., Members FDIC.
Can a non-resident open a US business bank account?
Yes, at several online providers, once the LLC has its formation document and EIN: Mercury (unless you live in one of its prohibited countries), Wise, Bluevine (owners in 25 listed countries) and Lili (citizens of about 20 listed countries). Our bank account checker shows which fit your country.
Do I need an ITIN or SSN?
Not at Mercury, Wise, Bluevine or Lili for eligible non-resident owners. Relay’s help center says every beneficial owner needs an SSN, and Novo requires one.
Can I have an anonymous LLC bank account?
No. Every US provider identifies the beneficial owners (usually everyone with 25% or more) and a control person. Anonymity on a state record does not extend to banks.
