Open U.S. Bank Account LLC Non-Resident

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Non-US Resident Opening a U.S. Business Bank Account for an LLC

Note: Make sure you have formed an LLC, your LLC is approved, and you have an EIN before trying to open a U.S. bank account.

Foreigners (non-U.S. residents) can open a U.S. business bank account for their LLC.

You don’t have to be an American or a U.S. resident alien to open a business bank account in the U.S.

How to open a U.S. LLC business bank account

Recommended: Open a TransferWise account and get paid in US Dollars (USD) to your LLC. Then exchange to your currency. Then withdraw to your local bank account.

Before we discuss details, there are a few important things to know about how banks in the U.S. work:

  • Banks don’t all do things the same way
  • Things vary from bank to bank
  • Things vary from state to state
  • And even within the same state and within the same bank, things vary from branch to branch location

We have 3 options for foreigners who want to open a U.S. bank account for their LLC.

1. Visit the local branch of an international bank

There are a handful of banks which are located in both the U.S. and abroad. If one of the banks listed below is in the country where you live and the state where you formed an LLC, you may be able to open a U.S. bank account from your home country. You’ll need to call the bank ahead of time and determine what documents and personal identification will be required.

Below are the banks with international branches as well as the states they are located in within the United States.

Bank of America (BOA)
Arkansas, Arizona, California, Colorado, Connecticut, District of Columbia, Delaware, Florida, Georgia, Iowa, Idaho, Illinois, Kansas, Massachusetts, Maryland, Maine, Michigan, Minnesota, Missouri, North Carolina, New Hampshire, New Jersey, New Mexico, Nevada, New York, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Utah, Virginia, and Washington.

Our thoughts: Bank of America can be a frustrating experience for many people, ourselves included. We used to have business bank accounts with Bank of America and just found everything complicated and more confusing than it should be. And their customer support was either really hard to get a hold of or not very helpful. There have also been a few instances of foreigners having their bank accounts closed because of proof of residency issues (source). A better alternative for foreigners is Wells Fargo.

Capital One
Connecticut, Delaware, District of Columbia, Louisiana, Maryland, New Jersey, New York, Texas,and Virginia.

Our thoughts: We don’t have any experience with Capital One business banking.

JP Morgan Chase (“Chase”)
Arizona, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Idaho, Illinois, Indiana, Kentucky, Louisiana, Massachusetts, Michigan, New Jersey, New Mexico, New York, North Dakota, Ohio, Oklahoma, Oregon, Texas, Washington, West Virginia, Wisconsin, Utah.

Our thoughts: JP Morgan Chase is usually not a great bank for people that won’t be keeping tens of thousands of U.S. dollars in their business bank account. Chase has higher minimum initial deposit requirements, higher minimum balance requirements, and higher monthly fees.

California, Connecticut, Delaware, District of Columbia, Florida, Illinois, Maryland, Nevada, New York, South Dakota, Texas, and Virginia.

Our thoughts: We don’t have experience with CitiBank business banking, however, they tend to be like JP Morgan Chase, with higher minimum initial deposit requirements, higher minimum balance requirements, and higher monthly fees.

Deutsche Bank
Delaware and New York.

Our thoughts: We don’t have experience with Deutsche Bank business banking.

California, Connecticut, Delaware, District of Columbia, Florida, Maryland, New York, Pennsylvania, Virginia, and Washington.

Our thoughts: We don’t have any experience with HSBC; however, many foreigners have let us know they had an easy time opening up a U.S. bank account with HSBC.

TD Bank
Connecticut, Delaware, District of Columbia, Florida, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, North Carolina, Pennsylvania, Rhode Island, South Carolina, Vermont, and Virginia.

Our thoughts: TD Bank only has branch offices in Canada and they offer cross-border banking. However, as a Canadian, forming a U.S. LLC is usually not the best business structure because you will face double taxation (paying taxes to the IRS and to the CRA). Please speak with an accountant regarding the best entity choice for your business.

Wells Fargo
Wells Fargo is located in a large number of U.S. states; however, they are not in Louisiana, Maine, New Hampshire, Oklahoma, Rhode Island, and West Virginia.

Our thoughts: As a foreigner, Wells Fargo (and HSBC) may be the easiest to work with; however, Wells Fargo has the most locations in the U.S. with low minimum deposit and balance requirements and frequently no minimum fees.

2. Appear in person in the U.S.

You can open a U.S. business bank account for your LLC by getting on a plane and flying to the U.S. You will need to open an LLC bank account in the same state where you formed your LLC.

TD Bank and Wells Fargo are great choices for foreigners. TD Bank has locations on the east coast of the U.S. and Wells Fargo has locations all throughout the U.S.

However, those are just the larger banks. You can also open an LLC bank account with any mid or small-size bank. You can google:

business checking account + {name of town that matches LLC address}

You can find the required documents to opening a U.S. LLC bank account here: opening bank account for LLC, however, you must call the bank ahead of time and double-check on everything you will need since requirements may vary slightly.

The only difference for foreigners is that you need to bring 2 forms of identification (such as a foreign passport and a foreign driver’s license) and banks often want a “proof of address” for your LLC.

You’ll need to call the bank ahead of time to see what they will accept, but they will usually accept your:

  • Articles of Organization, Certificate of Organization, or Certificate of Formation
  • EIN Confirmation Letter from the IRS
  • billing statement or utility bill (like a phone bill), lease, or a credit card statement

Declaration of Beneficial Ownership
In addition to the above documents, the banks are required to verify who owns the LLC. A Declaration of Beneficial Ownership form will be provided by the bank and you will fill it out when you are there.

Get on the phone

As we’ve mentioned, banks are very different from one another. What one bank will accept as a proof of address, another bank may not. You’ll need to get on the phone, explain the situation about your U.S. LLC, let them know you are a non-US resident, and get specific details about what’s required before flying to the U.S. to open your LLC bank account.

We recommend staying in the U.S. for at least 1 to 2 weeks just in case there are any delays or extra things you must get in order to properly open the account.

3. Open a TransferWise bank account

If you don’t want to fly to the US to open a bank account, you can open a TransferWise business account (called a “Borderless” account).

You’ll get a US bank account number and US bank routing number.

You can receive US Dollars (USD) to your LLC bank account, exchange to your currency, and then withdrawal to your local bank account.

LLC business bank account vs. personal account

While you can get away with using a personal account for LLC monies coming in and out, this is risky since you are not treating your LLC as a separate legal person.

If you use your personal account for LLC banking purposes, you are doing what’s known as “commingling” your assets.

If you end up in court, you will have to show bank records. And when it’s discovered that you’re commingling your assets, you will most likely lose your LLC’s liability protection and the suing party can come after your personal assets to satisfy any obligations of your LLC.

For this reason, it’s best to open a separate LLC business bank account. It will also help make the following easier:

  • accounting
  • paying taxes
  • organizing financial records


You will need to either visit a bank located in the U.S. and your home country or you’ll need to fly to the US and open a business bank account in person (in the same state where you formed your LLC).

It’s best to avoid websites that tell you you can do it online or that they’ll open a bank account for you.

In 2002, final regulations were released by the United States Department of Treasury that affect all U.S. banks. Section 326 of the USA PATRIOT Act of 2001 went into effect.

The purpose of the USA PATRIOT Act (“Uniting and Strengthening America by Providing Appropriate Tools Required To Intercept and Obstruct Terrorism”) is to prevent criminal activity taking place through U.S. banks.

Later in 2016, the Financial Crimes Enforcement Network (FinCEN) released new rules requiring banks to disclose who owns the accounts and/or the company which the account is registered to. If a non-US person owns 25% or more of a company, the bank must verify and collect information about your identity.

The primary regulations that U.S. bank must follow are:

  • Customer Identification Program (CIP)
  • Know Your Customer (KYC)
  • Anti-Money Laundering (AML)

What does CIP, KYC, and AML mean for you?

It means that you won’t be able to have someone else open a U.S. LLC bank account on your behalf.

And it means you won’t be able to open a U.S. bank account online.

You need to physically show up at the bank, identify yourself, and show proof that your business exists and that you are the owner.

Do I need an SSN?

No, you don’t need a Social Security Number (SSN) to open a U.S. LLC bank account.

Do I need an ITIN?

No, you don’t need an Individual Taxpayer Identification Number (ITIN) to open a U.S. LLC bank account.

In fact, you can’t even apply for an ITIN unless you have a U.S. tax reporting requirement.

OFAC Restricted Countries

Due to current sanctions that the U.S. has put in place, you most likely won’t be able to open a bank account in the U.S. if you reside in Belarus, Burundi, Central African Republic, Cuba, Democratic Republic of Congo, Iran, Iraq, Lebanon, Libya, North Korea, Somalia, Sudan, South Sudan, Syria, Ukraine (Crimea), Russia, Venezuela, Yemen, and Zimbabwe.

The U.S.-sanctioned countries list changes from time to time, so you will need to check the Sanctions Programs and Country Information issued by the U.S. Department of Treasury.

What about Payoneer, OFX, World First, etc.?

While there are some online “solutions” for foreigners/non-US residents, like Payoneer, OFX, and World First, these are not true U.S. banks.

Although they may be called “virtual U.S Bank accounts” (for marketing purposes), they are really just payment solutions used to receive payments in U.S. dollars.

And while they may work for some people, they may not work for everyone. You’ll need to do further research on their pros and cons to see if they are a good option for your situation.

Get a U.S. phone number for your LLC

Having a U.S. phone number for your LLC will make the bank representative feel more comfortable when opening your account.

We recommend getting a digital phone for your LLC, which can automatically forward calls to your cell phone (a U.S. cell phone or a non-U.S. cell phone).

The service we recommend is They have great customer service and their plans are only $10-13 per month. You get a U.S. telephone number, call forwarding, and get voicemail messages sent to your email.

Frequently mentioned “online banks” won’t work for most foreigners

If you’ve done some online research, you’ve probably seen people talking about Silicon Valley Bank or Stripe Atlas.

However, these solutions will not work for most foreigners. And even if they will work for you, it will often be much less expensive just to visit the U.S. and open a regular business bank account.

Silicon Valley Bank

Silicon Valley Bank (“SVB”) usually only works with technology startup companies that are located in California and have raised money through venture capital. Most businesses need to prepare a presentation and a business plan in order to open a bank account with SVB.

Stripe Atlas

Stripe Atlas is an all-in-one solution for startup technology companies that plan to go public or raise venture capital. Stripe Atlas forms your company, gets your EIN, and opens a bank account.

However, the application fee is expensive (most other banks don’t have application fees) and this is only for startup companies who want to form a Corporation or LLC in Delaware.

(related articles: how to form an LLC in Delaware and how to get an EIN without an SSN)

Documents needed to open U.S. LLC bank account


As mentioned earlier, all banks work differently. You will need to call ahead of time and ask to speak with the branch manager and tell them you are interested in opening a business account for your LLC and let them know that you are a foreigner (non-US resident).

The following are common requirements for banks:

  • LLC approval from state (stamped/approved Articles of Organization, Certificate of Organization, or Certificate of Formation)
  • EIN Confirmation Letter
  • Operating Agreement
  • 2 forms of identification (like a foreign passport and foreign driver’s license)
  • Proof of address (LLC approval, EIN Confirmation Letter, lease, phone bill, etc.)

Proof of address:
Make sure you call ahead of time about this. Some banks require 1 document to verify your U.S. address (located in the same state where you’re opening the bank account) and some banks require 2 documents to verify your U.S. address. Some banks accept certain documents (like a lease or phone bill) and some don’t. Make sure you get on a phone and fully understand what’s needed before you show up at the bank. It’s always a good idea to call and talk to a second person to verify the information you received from the first call, too, before you make the trip.

LLC Banking Resolution

A banking resolution states which LLC Member (or Members) has the authority to open a bank account. This resolution is signed by all LLC Members.

While some banks may ask for you to prepare your own resolution, most banks will already have one that you can use.

It’s a good idea to ask about this before going to the bank.

Checking vs. savings account

You’ll likely only need a business checking account instead of a business checking account and a business savings account.

While you can certainly also open a business savings account, they are not too common and you might not need it (and often times the bank representative is trying to sell you a 2nd account). We recommend only opening a business savings account if you really need one, and they are offering a good rate of return. Another reason to open one would be if you carry very high balances on your account, since the FDIC only insures accounts up to $250,000.

Minimum initial deposit

When you call, ask about the minimum initial deposit requirement. This is the first deposit you must make at the time you open the account.

It’s easiest to use cash (USD) when making your first deposit.

Some banks may want $500, $1,000, or more, while others may only require $100 for your first deposit.

We know TD Bank and Wells Fargo have smaller initial deposit requirements than other banks.

Minimum balance requirements

Most banks will charge either a one-time fee or a monthly fee if your balance goes below a certain level.

Most business accounts have minimum balance requirement of $500, $1,000, or $1,500. That means you must always have that much money in your LLC bank account in order to avoid any fees.

However, some banks, like Chase and CitiBank, have higher balance requirements, requiring $2,500 or $5,000 to always be in the account, or a fee will be charged.

This is why it’s very important to call and speak to a few different banks to decide which one will be best for you.

Packages & Monthly fees

Most banks have 3 different types of business accounts.

Ask what they are called, what their monthly fees are, and what’s included in each one.

90% of our readers will be fine with the “basic” package.

And most often, the “basic” package won’t have any monthly fees.

For example, most “basic” business checking account with TD Bank and Wells Fargo don’t have monthly fees.

Debit Card

Call the bank and ask when you will get a debit card for your LLC bank account.

Many banks will give you your debit card right on the spot after you open the account, however, some other banks will mail it to you within 1 to 2 weeks.

If the bank needs to mail the debit card to you, ask which address it will be sent to and if you can have it sent to a foreign address (just in case you’re only in the U.S. for a few days).

Credit Card

While it may be difficult to get a business credit card without an SSN or ITIN, once you develop a relationship with your bank, you may be able to open a business credit card with them. Make sure to ask the banker about what your options are.


Most banks will give you 5-10 “starter checks”. Not all businesses need checks these days, but some do and it can be a nice thing to have. Ask the banker how to order more checks if you need them.

Sometimes checks can be ordered while you are at the bank, but a lot of banks request that you order the checks online instead. If you need checks, ask the banker how you can order more. 100 checks usually cost $25-40.

Tip: When you first get checks, they start at number “001”. However, you can request for your checks to start at #3000 (or whatever number you want) to give your business a more professional feel.

Do you have a Multi-Member LLC?

Any LLC Member that wants to be on the bank account must be present in order to be added.

You cannot add another LLC Member while you are there. Remember, banks must follow Customer Identification (CIP), Know Your Customer (KYC), and Anti-Money Laundering (AML) requirements in addition to other requirements for local, state and federal regulations. Banking is a highly regulated industry, which is why the need for proof is critical to opening an account.

Matt Horwitz
Founder & Educator, LLC University®
Forming an LLC shouldn't be so complicated. Our step-by-step guide will make the process a breeze – and no complex legal jargon! LLC University® teaches people how to form an LLC for free in all 50 states. We hope you find our free guides and resources helpful in your business journey.
Disclaimer: Nothing on this page shall be interpreted as legal or tax advice. Rules and regulations vary by location. They also change over time and are specific to your situation. Furthermore, this comment section is provided so people can share their thoughts and experience. Please consult a licensed professional if you have legal or tax questions.


  1. Jerome August 16, 2018

    Hi Matt, Many thanks for the very detailed article
    It helps to clarify and confirm a lot of what I’ve been reading up about online regarding NON- resident LLCs.
    I’m building a Shopify drop shipping business that’s initially filed in Wyoming, as I’ve mentioned in another comment thread. For me, the 2 options are solid ones but due to the quirks of my situation, I’ll need a bit more direct counsel on how to move forward I believe.

    Option 1: Visit a local branch of an international bank:

    I live in the Caribbean, Kingston, Jamaica. W.I – The only American
    bank locally that I’m aware of is CITIBANK. I was at one point thinking about approaching them, however the catch would be that since I formed the LLC in Wyoming, and no CITIBANK branches currently exist in the state, the only way to be able to utilise this route would be to get a Florida qualification done, then coordinate between Florida and Kingston branches to open an account. While both WELLS FARGO and HSBC seem like good picks too, the same issue remains, HSBC has no Wyoming branches, or Local branches in Kingston, and WELLS FARGO (I’ve contacted them before) they said I’d need to have the business registered in Florida first) – Said they could only open the account if the business has a presence in the state the account would be opened in.

    Option 2: Appear in person in the U.S.

    As it relates to option 2, that was what I originally thought would be required, however pretty much like I mentioned in the comment on another page related to the LLC fees of different states, going to Wyoming from Kingston costs a lot of cash, (somewhere around $300,000.00 JMD) and feasibility wise to make trips for getting things done at the bank would make more sense if I could just go to the nearest state to the Carribean, which in my case would be Florida. (A trip could be like around $120,000.00 JMD if I’m popping in for 2 – 3 days)
    So again Qualifying in Florida would make more strategic sense.

    What do you think?
    Thanks so much for providing this site as a resource!
    And for all the help you’ve given me Matt.

    • Matt Horwitz August 17, 2018

      Hi Jerome, you’re welcome! We like to get to the bottom of things, so we’re happy to help. Although sometimes going direct to Wyoming may be a good idea, it would really suck if you traveled all the way there to find out you were missing a certain document and the bank told you to come back later. Then you had to fly back home, do more research, gather more paperwork, then travel back to Wyoming. That would be expensive!

      For those reasons, no matter where you end up opening your bank account, we recommend staying in town for about 1 week to take care of everything and deal with any unexpected delays. In your case, qualifying/registering your Wyoming LLC as a Foreign LLC to do business in Florida sounds like a good idea. Also, in South Florida, it’s much more common to see non-residents opening businesses. There is much more “international acceptance” in Florida than in Wyoming.

      The big thing to look out for (and the hoop you need to jump through) is that some banks are now looking for more “proof of address” documentation, like a lease or utility bill. So for online businesses, this requires more creativity or finding a bank that has less strict requirements. The purpose behind all this is that banks are just trying to protect themselves and make sure you’re not laundering money in the U.S. or doing anything illegal.

      How to best deal with this proof of address stuff is to call a number of banks (and different branch locations if needed), ask to speak to the branch manager, explain your situation in detail, and ask for a list of documents you need to bring and if they require proof of address, and if so, what kind of documentation is acceptable. Some branches (and some branch managers) will be more flexible if you begin to establish trust and build a connection with them. If you have a good phone call with a particular branch manager, save their contact information and ask if you can make an appointment to see them when you come into town. This can make the whole process much easier. I would call a few locations of the banks below and make a document on your computer where you can save detailed notes during your calls. It’s also smart to consider banks that are within a 15 to 30 minute car drive from the airport you’ll fly into.

      – BankUnited
      – Fifth Third Bank
      – HSBC
      – PNC Bank
      – Regions Bank
      – Seacoast National Bank
      – SunTrust
      – TD Bank
      – Wells Fargo
      – Also try a few small/local banks by googling “community banks in {city}”

      I know it’s a decent amount of work to call all those banks, but we really don’t know any other way around it. If you’d like to share your findings with us, that would be greatly appreciated (and it’ll help other readers). And after you make a lot of calls, send a reply here and then we can figure out what’s the best address to use on your Florida Foreign LLC Qualification form.

      Note: For anyone reading this comment in the future, currently $10 Jamaican Dollars (JMD) is about $0.07 U.S. Dollars (USD), so for Jerome to travel to Wyoming would cost about $2,200 USD, and to Florida would cost about $900 USD.

    • Belema August 21, 2019

      Hi Jerome!

      I totally get the struggle with being in the Caribbean. I’m in St Vincent and the Grenadines.

      Which service did you use to open your LLC?

  2. Vojkan September 16, 2018

    I am in the process of forming an LLC as a non US resident as a partnership with US resident. I have a few questions and thank you in advance for any help:
    1. My US resident partner is from California. Do I need to take that into account while choosing a state to incorporate an LLC?
    2. Can my US resident partner open a business account in the name of our LLC?

    Thank you again

    • Matt Horwitz October 17, 2018

      Hi Vojkan, yes, California is very strict state when it comes to the definition of “doing business”. They have corporate laws and tax laws regarding doing business. We recommend speaking with a few attorneys and accountants and consider forming the LLC in California. You may also owe a California tax return as a non-resident. Yes, the LLC partner can open an LLC bank account in the state where you end up forming your LLC. The bank may request a resolution signed by both of you (or they may not) – we recommend calling a few banks before and checking ahead of time. Hope that helps.

  3. SZ November 21, 2018

    Any thoughts on using as a banking solution? The LLC we are forming has two owners but they are unlikely to visit the US anytime soon.

    • Matt Horwitz November 21, 2018

      Hey SZ, we’re a fan of TransferWise and actually recommend them in this article for foreigners forming an LLC in the U.S. We just recently updated this article with this recommendation. Are you seeing the changes?

      • jerome November 22, 2018

        Hello Matt, I have an earlier comment in this stream, from August of this year.
        I got an email with the update to this article that you mentioned to SZ.
        Matt, let me get this straight, are you saying that we can now open a business bank account and accept online payments from the most in-demand currencies worldwide without having to make a physical trip to the US?

        Am I correct in this interpretation of the update? If so this is monumental for online entrepreneurs and business owners outside of the U.S.
        I’ll be looking through the website for more details, but WHAT A GODSEND THIS SOUNDS LIKE!

        P.S I’ve made some progress on the calling of banks in the south Florida area that you recommended, to aid in helping others I’ll share, I got a recommendations for reaching out to 1First Bank of Florida – the Doral branch, I spoke with a representative there that made mention that they provide the service for opening accounts for non-residents once their willing to come in and open the accounts physically.

        The recommendation came from someone at Bank United, they were really helpful but couldn’t pull the permission to set up something to have me come in and open an account, but pointed me to 1FirstBank of Florida as a consequence.

        • Matt Horwitz November 22, 2018

          Hey Jerome, hope you’re well man! Yes, with TransferWise you can open the account online (no need to visit the U.S.) and you’ll get a US bank routing number and account number. TransferWise is technically a “electronic money account”, but it can be used like a bank account to receive payment in USD. You can also convert to your local currency and withdrawal to your local bank account. There are exchange rates to pay of course, and I believe small fees to withdrawal, however, their fees are among the lowest we’ve seen.

          We set up an account ourselves and the signup/onboarding process is really smooth. Customer support is also very friendly and quick to reply. However, we’re not using the account to receive payment, so we’re not aware of every single pro and con. I’d say give it spin though and see if it meets your needs. I’m also very curious to hear any feedback or experience you have with it.

          Thanks for sharing your bank findings in FL too!

          • Jean Jeudi November 28, 2018

            Hi I incorporated in Delaware, got an EIN and opened a Paypal account and a Transferwise account, Unfortunately I realised that Paypal is not accepting TransferWise as a bank account, So for the moment I a working without linking my Paypal account to any bank
            I continue to look for a solution to open a US bank account without traveling to the USA but from your presentation I feel that this will be almost impossible
            Any suggestion is highly appreciated

            • Matt Horwitz December 4, 2018

              Hi Jean, thank you for sharing that. Would you mind calling Paypal and seeing if you can verify this? We’d be very interested to hear about your findings. Many non-US residents with LLCs and online businesses may be receiving funds in Paypal. And we’d love to find a solution so they can get their money withdrawn (taken out) to a bank account. Thanks so much!

            • Jean jeudi December 5, 2018

              Hi, first of all thanks for replying, I have tried to contact Paypal but their help line requires a lot of patience and in the end I did not get a reply, however I got one from TransferWise which I’ll share with you.

              We understand occasional hassle in connecting your TransferWise accounts to other third-party payment service providers such as PayPal. Not to worry, we’re in contact with them to sort this issue so that the account verification process is easier/seamless.

              The issue is that PayPal tries to verify your Borderless account by sending micro deposits (two small amounts below 1 USD). Since they’re unable to pull the funds back (because the account isn’t direct debit enabled just yet) they consider the account invalid. In other words, their account verification procedures aren’t successful in most cases as we don’t support this verification method.

              We usually propose an alternative account verification method using an official Statement of your Borderless account (downloadable from your account). Usually, they accept it as an alternative. Please check with them if this document would be sufficient to verify your account.


              • Matt Horwitz December 5, 2018

                Hey Jean, thanks so much for sharing! This is great news! Please do keep us updated. Other readers would love to know if using the official Statement of the Borderless account works for Paypal account validation. Regarding Paypal support, we find them quite helpful, however, depending on the time of day, wait times can be longer or shorter. We always recommend calling earlier in the morning for the quickest support. Thanks again :)

              • Tara December 15, 2018

                Hi Jean, I am in a similar situation. Has PayPal approved your account yet with TransferWise?

                • Jean Jeudi December 15, 2018

                  Sorry for the late reply , I was abroad without much access to the internet.
                  My reply: I never tried to contact paypal as my experience with their customer service are quite poor. Long waiting time on the phone and not always a competent answer. Email to paypal: hopeless , never got a reply
                  So I am looking for a different solution

                  • Matt Horwitz December 18, 2018

                    Hi Jean and Tara, I understand that calling may be annoying, but we strongly recommend doing so. Call earlier in the day for shorter hold times. If you don’t get a competent answer, thank the person for their time, hang up and call right back. This is something we’ve learned after many years in business. You keep calling until you find out what you’re looking for. Don’t give up. Hope that helps.

                    • Jean Jeudi January 8, 2019

                      Just a suggestion for a phone number. I have always used a German skype phone number with call forwarding to my Rwandan phone. I have done the same to have a skype US phone and so far it works well, it’s even cheaper than your suggestion

                    • Matt Horwitz January 9, 2019

                      Hey Jean, that’s a great tip! Thank you for sharing :)

                • Jean Jeudi January 8, 2019

                  No, but I must admit that I did not really follow up as here in Rwanda where we have our business efforts are made to get Paypal on board. In this case I would open a Rwandan Paypal account
                  For the moment we spend money on our Paypal account to pay raw material and equipment

            • Jean jeudi December 5, 2018

              There are some companies offering to help your open a bank account, but I shy away to paying about 2500USD for their help not knowing if in the end the solution is long lasting

              • Matt Horwitz December 5, 2018

                Hi Jean, besides Stripe Atlas (which isn’t ideal for the majority of our readers), we haven’t found a reputable company in this space. There is a lot of “shady” (not trustworthy) stuff in this space too, so it’s best to be cautious.

  4. Abhijit Zaveri November 23, 2018

    We are leading Education company in India and we are keen to open LLC in USA. So can you please send more details on my email id?

    Also, I am there in US from 3rd to 15th December for Conference in Florida. So if we can meet up or we can talk over the phone.

    Abhijit Zaveri

    • Matt Horwitz November 23, 2018

      Hi Ahhijit, we don’t offer phone support at this time. As a non-US resident/citizen, you can pretty much pick any US state that you’d like for your LLC. You can file yourself by following our LLC guides or hire a filing services (we have recommendations on our website). After your LLC is approved, you’ll want to get an EIN (Employer Identification Number) from the the IRS and open a bank account. Please see getting an EIN for LLC without having SSN. Hope that helps.

  5. Dado November 27, 2018

    Hello Matt, first of all thank you so much for being so helpful by giving all these advices. Now, I’ll get to the point – I am not an US citizen, nor US redisdent, and I have a LLC founded in Delaware, even I have never been to US. The company is established, I have EIN and now I want to offer my application (software) on PlayStore and try to make some money. My plan is to open a bank account in USA (without being present there), and as I have found here – Jerome wrote it – it is possible to do so by TransferWise. My question is – is ti possible to do pay-ins and pay-outs with this account, and what are tax repercussions? If you are not specialized in taxes, I totally understand but could you tell me who might be the right person?
    Thank you for your time,

    Greetings from Europe,

    • Matt Horwitz December 3, 2018

      Hey Dado, you’re very welcome! I believe you can do pay-ins and pay-outs via TransferWise, but we don’t regularly use a TransferWise account ourselves so not 100% sure. I recommend reaching out to TransferWise support ([email protected]). We don’t have any tax recommendations yet for non-US residents. We hope to in the near future though. However, you may find some helpful information here: how to find an accountant. Thanks for your understanding.

  6. Mehmet December 18, 2018


    Did anyone try opening a business bank account with the POA (Power of Attorney)? I believe it is possible to open a bank account with the power of attorney without visiting the US in person. In this case, you’ll need someone to trust in the US because he/she will have access to your account.

    On the other hand, I was able to open a bank account as a non-resident remotely 3 years ago. I have a SSN because I visited the US as a J1 student and worked in the US for 2 months. Although it was 5 years ago that I had the SSN for 2 months of working in the US, it doesn’t expire and I was able to use it opening a BOA bank account remotely like a US resident.

    Now that I have incorporated another company, I couldn’t open a bank account remotely just because the bank(BOA) was unable to verify my address info. I am using a commercial mail forwarding service and BOA flagged all those services and they don’t open you an account because as they as “It seems like your address is a USPS store. You can’t live in a USPS Store”. When I gave the address of a friend of mine as a home address, they couldn’t verify that information too. I don’t know what information they use to verify addresses.

    Long story short, I will try to open a bank account with Power Of Attorney.

    Will update with the result.

    • Matt Horwitz December 18, 2018

      Hi Mehmet, thank for sharing your experience! Was this bank account a personal bank account or an LLC business bank account? Yes, many banks use USPS database verification (see SmartyStreets single address validation) to see if an address is a CMRA (Commercial Mail Receiving Agency). Nearly all USPS stores and mailbox rentals are CMRAs. So for a bank account, using an actual office address (co-working space may work) or a friend or family members address may be better.

      Now, for those reading this, having said all that, this is not a “universal” principal when opening a business bank account. While Bank of America (BOA) is usually more strict around address verification, you’ll want to call a few banks and speak with the branch manager. And just tell them the truth and the details of your situation and your business. Each bank has their own set of rules. Meaning, each company is different, and often, different branch offices (of the same company) are different. And many will still be willing to work with you. Hope that helps!

      • Mehmet December 22, 2018

        Hi Matt! It was an LLC bank account that I was able to open remotely in 2013. I need to update my address information with credit agencies and maybe USPS so that Bank of America (BOA) can verify it. Because banks compare the info yo entered with some database. I suppose BOA compares it with Transunion database and I will try to update my address with Transunion.

        Although many BOA rep approved that LLC bank account opening could be done with a Power of Attorney, I was informed by my friend that the branch manager did not take our application into process because he claims they don’t open business bank accounts with Power of Attorney. We will try another branch.

        • Matt Horwitz January 6, 2019

          Hey Mehmet, thanks for the update. Bank of America and Wells Fargo are usually more easy to work with for foreigners. Feel free to reply back once you get your account open. Thanks.

  7. Mehmet December 22, 2018

    Hi Matt! It was an LLC bank account that I was able to open remotely in 2013. I need to update my address information with credit agencies and maybe USPS so that Bank of America (BOA) can verify it. Because banks compare the info yo entered with some database. I suppose BOA compares it with Transunion database and I will try to update my address with Transunion.

    Although many BOA rep approved that LLC bank account opening could be done with a Power of Attorney, I was informed by my friend that the branch manager did not take our application into process because he claims they don’t open business bank accounts with Power of Attorney. We will try another branch.

  8. Zee January 22, 2019

    Dear Matt, such a pleasure to read through your website. Thank you very much for all the information in your articles and in your replies to comments.

    I have a question.
    In terms of LLC’s liability protection – is there any difference between a local LLC Bank account and any “online accounts” like TransferWise? Do courts treat these differently for any reason at all?

    What’s the actual advantage of a local LLC bank account over TransferWise-like banks?

    Thank you for all you’re doing. Big fan already.

    Cheers from Poland,

    • Matt Horwitz January 22, 2019

      Zee from Poland, what’s up! Thanks for the nice comment. Glad to hear you’re finding the website helpful :) From a liability standpoint, there is no difference, as far as I know. They are actual banks. A common setup is that the “online banks” actually partner with a real “brick” bank, and the brick bank is the FDIC insurer. Since we don’t use TransferWise ourselves, I can’t speak on all the pros and cons. I’m sure there are, but you can grab a TransferWise account, use it, and see for yourself (please feel free to reply to this comment with your own review – I’m sure it’ll help others). If it’s really needed in the future, it’s best to hop on a plane and come open an LLC bank account yourself. Of course, call the bank ahead of time, speak to the branch manager, and make sure you have all the documentation they need. Regarding TransferWise, on a positive note, we have an account, and have emailed support a few times. They are fast to reply, knowledgable and friendly. And it seems like they’re trying to build something great. Let’s hope they can do it. Hope that helps!

      • Zee January 23, 2019

        Dear Matt,
        not only the banks! You also are fast to reply, knowledgable and friendly and you have built something great. Thank you for that.
        Ok, good.
        I will set up TransferWise company account – but IF they need EIN number, I will have a problem, as I registered my LLC recently and tried to call in to apply for EIN – BUT I can only do it per fax or mail and due to government shutdown it will not be processed!.. Damn. Any idea how to go around it, if possible at all?
        Thanks Matt. You’re awesome.

        • Ville January 23, 2019

          Hi Zee,

          did you get your fax tru the busy line? I have the same problem.


          • Zee January 23, 2019


            I haven’t tried yet. I need to find a fax machine first..? (I thought dinosaurs are gone! Lol)
            I only called and spoke to them on the phone (IRS website says it’s possible to use the phone for non-US residents like myself but – it’s not).
            When I manage the process I’ll update you guys.
            If you have another solution, I’d appreciate yours too.

          • Zee January 28, 2019

            Hi Ville,

            try now!
            I just got my fax thru today.

            Hope it works for you too.
            I used myfaxcentral website + tons of LLCuniversity’s help!


            • Matt Horwitz January 28, 2019

              Zee, awesome to hear man! And thanks for sharing that you weren’t able to get an EIN by phone. Sooooo many websites still have this information and it’s just wrong. We try to explain this to people in our how to get an EIN without SSN lesson, but still… this has to be one of the biggest misinformations for US foreigners trying to get an EIN. Anyway, glad you got everything sorted!

              • Zee January 29, 2019


                I even paid for this mis-information! It was a part of a new course how to sell on amazon – funny, eh?

                Anyways. I’m more clever now thanks to you and the nice lady on the phone at IRS :)

                My next step is to understand all kinds of taxation I need to take care of. I am dreaming of one great international tax advisor. My situation is quite complex! Anyways, wish me luck :)

                Your biggest fan – Zee

                • Matt Horwitz February 7, 2019

                  Well what happens is sites just copy other sites, not knowing it’s wrong. So it spreads like a mini virus of misinformation. Yea, crap like that drives us crazy! It’s a part of our mission to bring more transparency and accuracy to the LLC industry :) Oh man… taxes. Lol fun! I’d love to hear what you come up with. Feel free to send an email on that if you’d like. Thanks again man. Really appreciate your positive vibes and awesome comments!

              • Jean Jeudi February 2, 2019

                Just a small update, I checked again if finally I can link my transferwise account to paypal as apparently someone has succeeded (see but now I get already stuck at the level of entering my transferwise data. … “We are unable to process your request at this time. Please try again later.” So it seems nothing has changed but maybe someone can try to phone the support of paypal

          • Matt Horwitz January 28, 2019

            Hey Ville, the government shutdown is over now. You should be able to send the fax!

        • Matt Horwitz January 28, 2019

          Thank you very much my friend :) I know, that government shut down was a major pain! Good news though, government is back online! The approval times may be a bit delayed since they’re a bit backed up now, but if your fax went through, then it’s in the system. Just have to be patient now ;)

          • Zee February 8, 2019

            Hey hey!

            I just received a fax with my EIN number innit! So cool and so happy!

            Thanks again Matt for all the help!

            Cheers from Poland,

            • Matt Horwitz February 13, 2019

              Heck yea man! Nice! Glad you were able to get everything done successfully. Congratulations :)

  9. Ville January 29, 2019

    Hi all,

    Thanks a lot. I got the fax thru.


  10. Mark January 30, 2019


    Do you know if US banks can open multi-currency accounts (EUR/USD) for a foreign owned LLC?



    • Matt Horwitz February 8, 2019

      Hi Mark, that’s a great question. Not sure. Best to hop on the phone and make some calls. Feel free to share any of your findings if you’d like :) Thanks.

  11. Annatjie Kurfurst February 7, 2019

    Hi Matt,
    An existing LLC in business since 2009, is wholly owned by a foreign entity. None of those owners are in the US either. The business is registered as Manager Managed which is good. What happens if that manager leaves the company? How do we transfer all authority legally and if the bank account with Chase was opened incorrectly stating he is the owner what is the best way forward especially to avoid a bank account being put on hold or freeze.

    • Matt Horwitz February 14, 2019

      Hi Anntajie, I’m afraid this question is beyond what we can answer at this point. You’ll want to look at the LLC’s Operating Agreement and it’s best practice to consult a qualified attorney. It’s also a good idea to call the bank and speak with the branch manager. Thanks for your understanding and hope that helps.

  12. David February 11, 2019

    Hi Matt, I plan to open an LLC and I’m trying to find out all the information I need and your advice is gold! Just wanted to thank you for the content. Cheers!

    • Matt Horwitz February 18, 2019

      Hey David, you’re very welcome! Thanks for the awesome comment :)

  13. Sami Khan February 15, 2019

    I am from Pakistan after doing some research I found CitiBank have branch in my country so, Is I told them I need to open a USA Bank account?

    • Matt Horwitz February 15, 2019

      Hi Sami, you’ll want to tell them you are forming a U.S. LLC and specifically ask about a US business account for the LLC (not a personal account). Hope that helps.

  14. The Beard Guy June 29, 2019

    Hey Matt,
    Thank You for this informative article.
    Well, If I’ve seen this earlier, this could’ve saved me lots of time and money.
    I already formed an LLC in Delaware and they cost around USD 300/Year just to keep the LLC alive, regardless of the registered agent fee.
    Now I’m in the process of transferring my LLC to Wyoming.
    They server the purpose and they are cheap. Just USD 50/year

    I’m still trying to set up a US bank account for me and it seems if I need an account, I have to be there no matter what.

    Thank You again and Keep sharing the knowledge.

    The Beard Guy

    • Matt Horwitz July 5, 2019

      Hey Beard Guy, you’re very welcome! You can either dissolve the Delaware LLC and form a new LLC in Wyoming or you can “domesticate” (convert) your Delaware LLC into a Wyoming LLC (and then dissolve the Delaware LLC). Do you have a US social security number? If so, you can open an LLC business bank account online with Azlo. If not, then yes, you’d need to visit the bank in person. It’s best to call a few banks ahead of time and determine all the documentation that they need. Hope that helps!

      • The Beard Guy July 6, 2019

        Hey Matt,
        Thank You for the reply.

        Well, as per my Wyoming agent I have 2 options.
        1) Perform a formal continuance
        2) Create a new LLC in Wyoming with the same name

        I’m thinking of the options #2 as it is less expensive and literally take around 24hrs [As per them] to complete the whole process.

        And I’ve gone through the article you provided.
        Since I’m not planning to dissolve the LLC, should I be still paying all the taxes?

        I formed this LLC on 1/18/2019. Is that the reason I’m not being asked to pay any taxes, just yet?

        And I don’t have an SSN, sadly. So I called Wells Fargo, Chase, they needed my presence and even tried to reach out to community federal bank. It didn’t work.

        So far I’m using TransferWise Business borderless account. [EIN helped me to verify it and even a PayPal account as well]
        That account really helped me to get paid from clients in the US and also now I’m withdrawing my freelance earnings from Upwork to TransferWise. It really works.
        Recently I used to wire money from Upwork to my Local Bank account. It cost me USD 30/transfer and I usually do 12transfers per year. That’s 360 per year.

        But with TransferWise, it is less than USD 5 and for the whole year, it is almost USD 60.

        So forming an LLC, still a profitable thing for me :D
        Thank You for all your help Matt.

        • Matt Horwitz July 7, 2019

          Hey Beard Guy, if your LLC doesn’t pay the Delaware LLC Annual Franchise Tax, it will be charged late fees and ongoing interest. After you form the new LLC, you’ll need a new EIN Number. We have instructions here: how to get an LLC EIN without an SSN. That’s awesome to hear that TransferWise is working. We’ve been hearing many success stories from non-US residents who have U.S. LLCs, so thanks for sharing yours. And you’re very welcome!

  15. Aditya July 2, 2019

    Hey Matt,

    Your thread has been really helpful. So I got a c-corp set up in Delaware through stripe atlas. They even opened up an account for me. However they later disabled both the stripe account and bank account for me since it did not meet some of their terms and conditions.

    I spoke to a few banks and they suggested I fly to the US to get a bank account opened. However I have a question if the business does not have an address in the US is it still possible to get an account opened? I do have a registered agent though.

    Let me know what you think. Thanks

    • Matt Horwitz July 7, 2019

      Hi Aditya, it depends on the bank, so we can’t provide a 100% guaranteed answer to that question. Having said that, most banks will ask about the address you are using. What we recommend is that before you visit the US, to call a few banks (ask to speak to the branch manager) and explain to them your situation and see if there are any options. You may be able to use the Registered Agent’s address. You could also use TransferWise as that seems to work for many non-US residents. Hope that helps.

    • Rock August 9, 2019

      Hi Aditya. I am really curious about why did they suspend your bank account along with the Stripe account? Even if you were selling some products that come under the “restricted” businesses, your bank acc should not have suspended because Stripe and Silicon valley bank are 2 different companies. I request you to please clarify.


  16. Erik July 8, 2019

    Thank you for this information! I have a WY LLC and I sell on I currently use World First, and there’s a 1% fee when I send payments to my Chinese supplier. I think that’s pretty good. However, I’m traveling to NY on vacation and was thinking on getting a real US business bank account when I’m there anyway.

    I was just wondering why you say that you can only open an LLC bank account in the same state where you formed your LLC. I see that you updated this article on June 21. Is this a new requirement that was not in place before that date? Is it pointless for me to call banks in NY and say that I want to open a bank account for my WY LLC?

    • Matt Horwitz July 15, 2019

      Hi Erik, you’re very welcome. It’s not an official requirement, however, most banks will not open a bank account for an LLC unless it was formed in that state or registered to do business in that state as a foreign LLC. Having said that, it can sometimes be done. But it’s not a rule across an entire company. It can literally depend on the branch office or it can be up to the branch manager. The best thing to do is call a few banks before visiting them, ask to speak to the branch manager, tell them the details of your situation, ask if it’s possible, and if so, ask for all the details regarding what types of forms and identification you need to bring in. Hope that helps!

  17. Rock August 9, 2019

    Hi Matt. thanks a lot for opening the comments section.
    I have 1 questions for you.

    Silicon Valley Bank is a FDIC member and is a real bank while Transferwise offers virtual bank account only. Then why do you prefer TW over SVB? Yes, i know about high price which Stripe charges but other than the price is there a reason?

    And my 2nd question is this.
    You said SVB account didn’t work for many of the customers. what was the reason and what probs did they face?

    I would be grateful if you can respond to these questions.


    • Matt Horwitz August 10, 2019

      Hey Rock, we don’t recommend TransferWise more than a physical bank… it’s just that most of the non-US residents we speak with don’t want to (or cannot) physically visit the US to open an LLC business bank account. So one isn’t really better than the other… they can both work. Silicon Valley Bank usually only works for technology companies (“startups”) that are located in California and have raised private equity money. SVB usually requires a presentation and a business plan in order to open an account. It’s not that we don’t recommend them… it’s just that it’s difficult for most of our readers. Hope that helps!

      • Rock August 13, 2019

        Thanks for the reply. So, would paying $500 for Stripe Atlas be a good decision since we also get a real bank account?

        Stripe doesn’t put any condition that we can only start a tech biz, so i feel we can use them for Amazon.

        • Matt Horwitz August 14, 2019

          Hi Rock, Stripe Atlas works well for many people who want a Delaware LLC (or Corporation). Feel free to share your experience after you sign up with them, get your LLC, and get an LLC bank account.

          • Jean Jeudi August 16, 2019

            as non resident, I contacted Stripe and their reply was that I need a SSN not only the EIN which evidently I do not have

            • Matt Horwitz August 17, 2019

              Hi Jean, thanks for sharing this! That’s very helpful to know.

  18. Belema August 21, 2019

    For all of those wondering about how to receive money via Transferwise, since my country was not on the list you can transfer to(in St Vincent and the Grenadines), I linked my Payoneer GBP account details to my Transferwise USD account so I transfer from USD to GBP and I’m able to withdraw using the card.

    This was for personal use.

    I’m now in the process of registering my LLC and I’m looking at my options.

    From what I see, I’ll probably go the Transferwise Business account route and just link it to my Payoneer Business Account (which ill open once I have my EIN).

    A bit of losses due to exchange rates here and there but it should work for the meantime.


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