How To Open A U.S. Business Bank Account for Your LLC As A Non-Resident

You’ve relocated to France, a lifelong dream that has been years in the making. You plan to conduct business in the United States, but you know that in order to accept payments from your U.S. customers, you’ll need a U.S. business bank account.

Finding a bank account that allows you the freedom to conduct business overseas while also fitting the needs of your business can be tricky, but there are ample options for you to choose from.

From benefits to paperwork and everything in between, here’s what you’ll need to know when it comes to opening a U.S. bank account as a non-resident. So sit back, relax, and grab yourself a fresh croissant!

Benefits of a U.S. Business Bank Account

In addition to being able to receive payments from your U.S. based customers, there are several major advantages of a U.S. business bank account.

Some of the most note-worthy benefits include:

• Avoid high banking fees for international wire transfers and currency conversion – When your customers pay you in USD, you’ll be able to accept these payments without having to convert the USD to your local currency.

• Receive direct deposits from popular online merchants – Most online marketplaces – like Shopify, Amazon, and Stripe–require you to provide a U.S. bank account in order to secure payments.

• Obtain a virtual debit card – Use your virtual debit card for U.S. shopping and making payments to other merchants like Apple Pay and Google Pay.

• Funds in your U.S. Bank account are insured by the FDIC – This means that your deposits (up to $250,000) are protected from losses in the event of a bank failure.

• Greater opportunities for your business – With a U.S. business bank account, you’ll be able to obtain a bigger line of credit as well as larger business loans that allow you more time to make payments.

In the next section, you’ll discover what documents you’ll need to get started.

What You’ll Need to Open a U.S. Business Bank Account

Once your LLC is approved, you can begin the process to open your U.S. business bank account. You’ll be doing business (no pun intended) in no time!

Though requirements will vary depending on the state, bank, and sometimes even branch, here’s a general list of what you’ll need to get started:

• Employee Identification Number (EIN) or Individual Taxpayer Identification Number (ITIN) – If you have a Social Security Number (SSN), you can get an EIN online. If you do not have an SSN, you can obtain an EIN by filling out and submitting the SS-4 application form. You can get an ITIN by filling out the W-7 application form and submitting it to the IRS along with your completed tax return.

• Government identification – You may be required to supply up to two (or more) forms of government-issued ID, such as a valid driver’s license or passport.

• LLC approval documents – You’ll need your Articles of Organization or Certificate of Organization/Formation, depending on which state you incorporated in.

• Business address – This can be a home address or commercial office address. PO boxes, rental mailboxes, virtual offices, and virtual mailboxes are not accepted.

• Proof of address – Examples include a driver’s license, property tax receipt, insurance card, lease agreement or utility bill.

Tip: It’s helpful to have these documents on hand before you initiate the sign up process, since some websites may time you out for inactivity.

How to Get Proof of Address for Your Business

VPM’s TruLease plan offers a simple and affordable solution. With it, you’ll get a physical address backed by a valid lease agreement, enabling you to open your U.S. business bank account at almost any financial institution.

How does the process work? VPM partners with commercial building owners to provide you with a physical office space. You’ll sign a lease agreement to show proof that you have an office space. Then, if needed, you can request a utility bill for additional proof of address. Viola, it’s that easy!

How to Open a U.S. Business Bank Account Online

Sometimes getting in your car and driving to your nearest bank branch just isn’t feasible. In fact, some U.S. banks don’t even have branches overseas. Whatever your reasoning may be, you can’t beat the convenience of opening a bank account online.

When it comes to opening an online business bank account for non-residents, you have a few options:

Option #1: Open a Business Bank Account with Mercury

Once upon a time non-residents were required to hop on a plane and fly back home to open a U.S. business bank account for their LLC.

Now, Mercury makes it possible to open a bank account 100% online from the comfort of your couch. It takes just minutes to sign up on their easy-to-use platform, and you can do so from almost anywhere in the world.

Though you’ll need to have a U.S. incorporated LLC to get started, you don’t need a U.S. address, making it an ideal option if you’ve already relocated.

Benefits of Opening a Bank Account With Mercury

When you open a business bank account with Mercury, you’ll get access to a virtual debit card that can be used to make purchases immediately.

As a business owner, you likely order some of your office supplies online. Your virtual debit card can come in handy if you want to buy items from a U.S.-based e-commerce platform, like Amazon or eBay.

Other advantages include:

• Get a business savings account, checking account, and debit card – Both physical and virtual debit card options are offered.

• They are FDIC-insured – Your money will be protected (up to $250,000) in the event of an individual bank failure.

• No minimum balances.

• No monthly fees, transaction fees, or hidden fees.

• Send and receive wire transfers and checks for free.

• Easy-to-use online dashboard.

• Convenient mobile app.

Learn more about the benefits of a Mercury business bank account.

How to Open a Business Bank Account with Mercury

In order to be eligible for a bank account through Mercury, you’ll need a U.S. incorporated company with a federal employer identification number. Mercury does not allow their services to be used by sole proprietorships, trusts, or businesses involved with the following industries: money services, adult entertainment, marijuana or internet gambling.

To open your business bank account through Mercury, here’s what you’ll need to do:

• Gather the required documentation - This includes your social security number, employee identification number, a copy of your government-issued ID, and your LLC formation documents (this will either be your Articles of Organization or Certificate of Formation, depending on which state you formed your LLC).

• Create an account on the Mercury website - Complete the application online and verify your email address.

• Download the mobile app once approved - Turnaround time for your application to be reviewed and accepted is about 1-2 weeks. After this, you’ll gain full access to the online dashboard.

Tip: Not sure if Mercury is right for your business? They offer an online demo that allows you to get a feel for the platform and how its features work.

Option #2: Open a Business Bank Account with Brex

If you don’t have a U.S. residence or social security number, a Brex Business Account may be a good fit for your business. With your cash management account, you’ll be able to send checks, deposit payments, and manage all of your transactions via a user-friendly portal.

The application process can be completed online, however, you must have a U.S. incorporated company in order to sign up.

Benefits of Opening a Bank Account with Brex

Although Brex isn’t a bank, a Brex cash account offers most of the perks of a traditional business bank account. In addition to a fully online application, you’ll be able to deposit funds and schedule payments to or from any account (you can create up to 8 accounts!) at lightning speed.

Other advantages include:

• No account, transaction, or hidden fees – While some banks impose heavy fees for transacting abroad, Brex does not.

• No minimum balance required – Get started with as much (or as little) as you currently have. There’s no pressure.

• Get a business checking account and credit card – Build credit while earning rewards for your business.

• Live support by phone and chat – Customer service is available around-the-clock if any questions, comments, or concerns should arise.

• Create up to 8 accounts – Save time by keeping all of your business expenses separate.

• Easy-to-use mobile app – Approve payments, deposit checks, access cards and more within their convenient app.

How to Open a Business Bank Account with Brex

Don’t have a U.S. address? No worries – you won’t need one with a Brex business account. However, there are a couple of key documents you will need to get started.

To open a bank account through Brex, here’s what you’ll need to do:

• Gather the required documentation. In order to apply, you’ll need a U.S. incorporated business, an employee identification number, and a U.S. billing address OR a PO Box or virtual office for international founders. You should also have plans to provide services and products to U.S. customers or plans to employ/contract U.S. personnel.

• Create an account on the Brex website. Once you’ve created your Brex account, you can begin the application process.

Option #3: Open a Business Bank Account with Relay

A Relay Business Bank Account is another viable option for your business if you don’t have a U.S. residence or social security number. Relay is an online banking platform that allows you to manage your money, collect U.S.-based payments from customers, and send and receive checks, wires, and transfers.

Like Mercury and Brex, Relay also requires you have a U.S. incorporated business to apply.

Benefits of Opening a Bank Account With Relay

A Relay business bank account allows you to open up 20 individual business checking accounts, making it a great choice if you plan to hire additional employees.

Other advantages include:

• No account fees, account minimums, overdraft fees.

• FDIC insured up to $250K – Rest assured that your money is always protected in the event of a bank failure.

• No branch visits or tedious paperwork involved – The process can be completed fully online.

• Send and receive ACH transfers, checks or wires.

• Collect payments in USD – This includes payments from PayPal, Stripe, Square, Amazon and more.

• Schedule recurring payments – Put expenses on autopilot so you can focus your time where it matters.

• Use powerful account integrations – Connect your bank accounts to useful software like Xero and Quickbooks.

How to Open a Business Bank Account with Relay

The registration process is slightly different for each U.S. business entity. Since you have a single-member LLC, here’s what you can do to get started:

• Gather the required documentation. You will need to provide your employer identification number, EIN verification letter, a U.S. business address and phone number, as well as a copy of your Article of Organization or Certificate of Formation.

• Create an account on the Relay website. Once you’ve created your Relay account, you can fill out the application and submit the aforementioned documents.

• Start managing your money. Track your cash flow and expenses and set spending controls for your team via Relay’s online dashboard.

How to Open a U.S. Business Bank Account In-Person

Many traditional banks will allow you to open a business bank account as a non-resident. As long as you have a U.S. incorporated business, you’re good to go. However, there is a catch: You’ll need to physically visit one of their branches in order to open your account.

If you have the ability to visit a bank in-person, you may find that one of the following options is a good fit.

Option #1: Open a Business Bank Account with Bank of America

Established in 1930, Bank of America is one of the more popular financial institutions in modern-day times. It’s an excellent choice for small-to-midsize business owners, offering a ton of benefits and little risk. However, as noted above, you will need to complete the process in-person.

Benefits of Opening a Business Bank Account with Bank of America

With a Bank of America business checking account, you can expect a long list of perks, including:

• Virtual debit card available for use immediately.

• Manage your accounts online – Easily view and manage personal and business accounts (including sending, requesting, and receiving money) at the touch of a button.

• Software integrations.

• Customize employee account access – Perfect for keeping track of multiple employees within your company.

• Virtual financial assistant – Get help with transferring or sending money, searching for transactions, and more.

Learn more about the benefits of a U.S. business bank account at Bank of America.

How to Open a Business Bank Account with Bank of America

To open a business bank account with Bank of America, you’ll have to visit one of their in-person branches. You will need to provide both your foreign (if you have one) and your U.S. address.

Here’s what you’ll want to bring with you:

• Home or permanent residence address.

• U.S. physical address.

• Personal identification.

• Secondary identification.

• Proof of address – This can be a government-issued ID with photo, work ID with address and photo, or current utility bill with your name and address.

You should also be prepared to provide the following (this applies to all traditional banks listed in this section, not just Chase):

• Articles of Organization/Certificate of Formation/Certificate of Organization.

• Details about your business – This includes business formation date (month/year) and country and state of legal formation and primary business operation.

• Social security number.

• Date of birth.

• Legal business name and DBA ("doing business as") name, if applicable.

• Business Tax ID (TIN) or Employer Identification Number (EIN) – You will need this to get access to online banking.

Option #2: Open a Business Bank Account with Chase

Chase is another well-known financial institution that caters to businesses of all shapes and sizes. If you’re able to visit an in-person branch, this could be a great option for your business.

Benefits of Opening a Business Bank Account with Chase

One of the best things about a Chase business bank account is the ability to choose from many different business credit cards with all sorts of rewards. If you’re a frequent traveler, this could save you a ton of money in the long haul!

Other benefits include:

• Save valuable time – Easily access your funds and make and receive payments through Chase Business Online and the Chase Mobile® app.

• Seamlessly manage your money – Keep track of cash flow, deposits, incoming wires, and payroll.

• Get access to unparalleled customer support – Have a problem with your finances? You’ll able to chat with their customer support team dedicated to support you through every stage of your business.

• Effortless account syncing – Already have a Chase personal account? It’s incredibly easy to synch this with your business account.

How to Open a Business Bank Account with Chase

To open a business bank account with Chase, you’ll have to visit one of their in-person branches.

Be sure to bring the following with you to your appointment:

• Personal identification.

• Tax identification number – An Employer Identification Number (EIN) is required, but single member LLCs may use their SSN or ITIN. For non-citizens, an ITIN is acceptable.

• Business documentation – You’ll need to submit your LLC formation documents along with your DBA certificate, if applicable.

• Assumed name certificate – This may be required if your business is operating with a DBA (doing business as).

Get a U.S. Business Address Today

Ready to open your U.S. business bank account? With VPM’s TruLease plan, you can get a proof of address for your LLC as soon as today!