For UK and European founders who have formed a US LLC, opening a US business bank account is the step that transforms your legal entity into a functioning business. Without it, you cannot receive Stripe or PayPal payouts, cannot accept ACH payments from US clients, and cannot properly separate your US business finances from your personal accounts. It is, operationally, the most important step after obtaining your EIN.
Traditional US banks — Chase, Bank of America, Wells Fargo — typically require an in-person branch visit to open a business account. For a founder based in London or Berlin, that is an unnecessary expense and delay. A generation of fintech-first banking platforms has solved this problem entirely, offering remote account opening specifically designed for non-resident business owners. For a full comparison of the three leading platforms, see our Mercury vs Wise vs Relay guide.
What You Need Before You Apply
Attempting to open an account without these in place will result in rejection or significant delays regardless of which platform you use:
- A formed US LLC — your Articles of Organization or Certificate of Formation as filed with the Secretary of State
- An EIN confirmed in IRS records — your Employer Identification Number from the IRS, plus your CP 575 confirmation letter. Wait until the EIN has propagated through IRS systems (at least a week after confirmation) before applying to any bank
- Operating Agreement — banks routinely request this as part of KYC review
- Personal identification — a valid passport for each beneficial owner, with all four corners visible in a clear, well-lit scan
- Proof of residential address — a utility bill or bank statement dated within three months
- Business description — a specific two-to-three sentence description of what your business does, how it earns revenue, and who its customers are
For the complete list, see our banking documents checklist.
Mercury — The Most Popular Choice for Remote Founders
Mercury has become the default banking platform for non-resident US LLC owners. Its application is completed entirely online, typically takes less than thirty minutes to submit, and account approval usually arrives within one to three business days for straightforward applications. Mercury offers free business checking and savings with no monthly fees, no minimum balance, and no transaction limits. FDIC-insured up to $250,000 through its banking partners. Integrations with QuickBooks, Xero, Stripe, and PayPal automate much of the bookkeeping process. Mercury Treasury offers access to higher-yield money market funds for businesses holding significant cash balances.
Relay — Best for Organised Financial Management
Relay allows up to twenty separate checking accounts and fifty virtual debit cards within a single LLC profile — making it ideal for founders who allocate cash by category (operating expenses, tax reserves, owner distributions, project budgets). Like Mercury, Relay has no monthly fees, no minimum balance, and is FDIC-insured through Thread Bank. Customer support is consistently rated as responsive. Relay integrates with QuickBooks Online and Xero.
Wise Business — Best for Multi-Currency Operations
Wise Business provides US routing and account numbers allowing you to receive ACH transfers and payment processor payouts like a regular US bank account. Its core strength is international money movement — holding USD, GBP, EUR, and dozens of other currencies simultaneously, and converting between them at the mid-market rate with transparent fees. For UK founders regularly converting US income to GBP, Wise Business is typically the most cost-effective option by a significant margin. Note that Wise Business is not FDIC-insured. Many founders use it alongside Mercury — Mercury as the primary US account, Wise Business for currency conversion and international transfers.
Traditional Banks: When They Make Sense
Some non-resident founders open accounts at Chase or Bank of America when visiting the US for other purposes, or when a specific client relationship requires banking with a traditional institution. If you are visiting the US, bring your passport, LLC formation documents, EIN confirmation letter, and an initial deposit. Call ahead to confirm the specific branch's requirements — these vary between locations.
The Right Sequence for a Smooth Application
The order matters. Form your LLC first, then obtain your EIN, wait for the EIN to propagate through IRS systems, then apply to open your bank account. Banks cross-reference your EIN against IRS records electronically during the verification process. Applying before your EIN is fully confirmed in IRS systems is the single most common cause of delays for non-resident founders — and it is entirely avoidable.
Get Your US Banking Set Up the Right Way
We guide UK and European founders through the complete US company setup process, from LLC formation and EIN application to banking guidance. Our Enrolled Agent Richard Williams handles EIN applications directly, ensuring your IRS records are accurate before you approach any banking platform.
US Banking Documents Checklist
Mercury vs Wise vs Relay — Full Comparison
Why Bank Applications Get Rejected
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