Best US Banks for International LLC Owners in 2024

The Challenge of International Banking

Opening a US business bank account as a non-US resident has traditionally been difficult. Many banks require in-person visits, US credit history, or SSNs. However, the landscape has changed significantly with fintech solutions.

Best Options for International LLC Owners

1. Mercury (Highly Recommended)

Best for: Most international LLC owners

Pros: - 100% remote account opening - No minimum balance - No monthly fees - Modern online interface - Integrations with accounting software

Cons: - Limited physical banking services - No cash deposits

Requirements: - US LLC with EIN - Valid passport - Proof of business (website, contracts)

2. Relay

Best for: Budget-conscious entrepreneurs

Pros: - No monthly fees - Remote account opening - Multiple free checking accounts - Built-in budgeting tools

Cons: - Newer platform - Limited features compared to Mercury

Requirements: - US LLC with EIN - Valid ID - Business verification

3. Payoneer

Best for: E-commerce sellers

Pros: - Easy setup - Receive payments from Amazon, Walmart, etc. - Multi-currency support

Cons: - Not a full bank account - Higher fees for some services

Requirements: - Government ID - Proof of business - Address verification

4. Wise Business

Best for: Multi-currency operations

Pros: - Low currency conversion fees - Hold 40+ currencies - Remote setup

Cons: - Not a full US bank account - Limited US banking features

5. Traditional Banks (Chase, BofA, Wells Fargo)

Best for: Those who can visit the US

Pros: - Full banking services - Physical branches - Established reputation

Cons: - Usually require in-person visit - Monthly fees may apply - Stricter requirements

Comparison Table

| Bank | Remote Opening | Monthly Fee | Best For | |------|---------------|-------------|----------| MercuryYes$0General business RelayYes$0Budget-conscious PayoneerYesVariesE-commerce WiseYes$0Multi-currency | Chase | No* | $15+ | Full services |

*Some Chase branches may work with international clients

Tips for Successful Account Opening

Have all documents ready: EIN, Articles of Organization, Operating Agreement, passport

Build a business presence: Website, social media, contracts

Start with fintech: They're more international-friendly

Be honest: Don't misrepresent your situation

Apply to multiple: Rejections happen, have backups

Our Banking Assistance

Our Premium package includes personalized banking guidance: - Bank selection based on your needs - Document preparation - Application support - Troubleshooting rejections

Get Banking Assistance →