US Business Banking for Non-Residents
Opening a US bank account as a non-resident LLC owner is challenging but possible. Here are your options and how to maximize your chances of approval.
Challenges for Non-Residents
Non-resident founders face several obstacles when opening US business bank accounts:
- Identity verification: Banks have strict KYC (Know Your Customer) rules
- No SSN: Many banks prefer or require Social Security Numbers
- In-person requirements: Traditional banks often require a branch visit
- High-risk classification: Banks may view non-resident accounts as higher risk
- Country restrictions: Some countries are restricted or require extra documentation
Despite these challenges, many non-residents successfully open US business accounts every day. It's about finding the right bank and having proper documentation.
Bank Options for Non-Residents
Fintech Banks (Best Option)
Online-first banks are generally the most accessible for non-residents:
Mercury
- Popular with startups and international founders
- No SSN required
- Full online application
- Free account, no minimums
Relay
- Multiple sub-accounts for organizing finances
- Accepts non-resident applicants
- Free account
Bluevine
- Interest-bearing checking
- Some international acceptance
- No monthly fees
Traditional Banks
More difficult but possible with proper documentation:
- Chase: May open accounts for foreign nationals, often requires in-person visit
- Bank of America: Has international banking relationships
- HSBC: Global bank with US business accounts
Traditional bank requirements and policies change frequently. Call ahead or check their website for current requirements for non-resident business owners.
What You'll Need
Prepare these documents before applying:
Required
- EIN: Your LLC's tax ID from the IRS
- Articles of Organization: Your LLC formation document
- Operating Agreement: Even if single-member
- Valid passport: Government-issued ID for all owners
- Proof of address: Utility bill or bank statement from your home country
Often Required
- US address: Your registered agent's address may work for some banks
- US phone number: Google Voice or similar can work
- Website: Shows your business is legitimate
- Business description: Clear explanation of what you do
Helpful But Not Required
- ITIN: Individual Taxpayer Identification Number
- Existing bank statements: Shows financial history
- Client contracts: Demonstrates business activity
Tips for Success
- Apply to fintech banks first: They're generally more accessible
- Have a professional website: Banks may check your online presence
- Be prepared to explain your business: Clear, simple description of what you do and who you serve
- Apply during business hours: If you need to verify by phone
- Have all documents ready: Upload clean, clear copies
- Be patient: Verification can take longer for non-residents
- Try multiple banks: If one declines, others may approve
If your first application is denied, don't give up. Ask why (if they'll tell you), address any issues, and try another bank. Approval rates vary significantly between banks.
Country Considerations
Some countries face additional scrutiny or restrictions. High-risk countries may require:
- Additional documentation
- Enhanced verification
- Longer processing times
If you're from a country with US sanctions or banking restrictions, your options will be more limited. Check each bank's current policies.
Frequently Asked Questions
Frequently Asked Questions
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