Opening Bank Accounts In The U.S.

Start Your Business The Right Way: How To Open A U.S. Bank Account For Your New Company

U.S. LLCs and corporations can open an account with any bank in the U.S.. Larger banks are often preferred due to their experience with various accounts, but using a local bank you trust is also a valid option. Smaller banks may offer an added benefit of increased privacy as they are less prone to data breaches.

Financial Technology Companies (Fintech Companies) also referred to as online banks may also be beneficial for both U.S. and International business owners.

We offer a bank account opening guidance if we form your LLC or incorporate your corporation. This applies for US Citizens and Non-Residents.

Opening A Business Bank Account Is Important!

After forming an LLC or incorporating a corporation and obtaining an EIN, opening a business account is typically the next step for clients. This is a crucial step towards separating personal and business affairs, which is important for proper tax filing and protecting the corporate veil of an LLC or corporation.

For a business, it’s essential to set up a dedicated checking account and ensure that all accounts are under the business name. The responsible officials of the LLC or corporation should sign signature cards for the accounts in their official capacities and on behalf of the company.

When it comes to LLCs, it’s crucial to distinguish between Member, Manager, and individual signatures, even when an individual is required to sign, such as serving as a guarantor for the LLC’s obligations. In these cases, the individual should sign in their individual capacity.

For corporations, it’s important to distinguish between Shareholder, Director, and individual signatures, even when an individual is required to sign as a guarantor for the corporation’s obligations. In these cases, the individual should sign in their individual capacity.

Bank Account Requirements

The requirements for opening a bank account can vary between banks and even branches, as well as your relationship with the banker. Our bank account guidance service included in certain incorporation plans covers everything you need to open an account, and all you have to do is provide proof of your identity.

Documents typically required include:

  • Articles of Organization (for LLC) or Articles of Incorporation (for Corporation), which we provide for free with our standard LLC formation or incorporation services.
  • Employer Identification Number (EIN), which is crucial for opening an account and can be obtained with our assistance or through the IRS.
  • Operating Agreement (for LLC) or Bylaws (for Corporation), which we also provide.
  • Proof of ID, usually two forms with one having a photo such as a driver’s license and passport.
  • Banking resolution for corporations

While completing an Operating Agreement (for LLCs) or Bylaws (for corporations) can show ownership, it’s not a requirement in Delaware, Wyoming, or at every bank. However, we still recommend completing it. This highlights the variability of what is important to different banks. Also, it’s important to note that we don’t provide nominee services for financial accounts, and the bank will ask for the Ultimate Beneficial Owner, but this information will remain confidential.

Additional documents that banks may require include:

  • Certificate of Authority: This document, also known as Foreign Qualification, is obtained through registering your business as a foreign entity in the state where it operates or does banking. Most banks require a valid Certificate of Authority for companies formed outside the state to open an account. This is crucial because the bank account is where revenue is channeled and is considered part of a company’s operations. Every state has different requirements for Foreign Qualification, and we can handle this for you.
  • Certificate of Good Standing: Also referred to as Certificate of Existence, this certificate from the Secretary of State’s office verifies that your company is up-to-date with Franchise Taxes, Annual Filings, and Registered Agent Fees.

To open a Fintech bank, also known as neobank, business account as an international person, you will typically need to provide the same types of identification documents as you would with a traditional bank, such as your passport, visa, and SSN or ITIN (if required). However, the process may be more streamlined, and you may be able to complete the account opening process entirely online, without having to visit a physical branch.

One thing to keep in mind when opening a neobank account as an international person is that some neobanks may have restrictions on who can open an account. For example, some neobanks may only accept customers from certain countries or require a certain minimum deposit to open an account. It is important to research different neobanks and their account opening requirements before choosing one.

Many banks demand a Certificate of Good Standing when a company applies for a loan, line of credit or merchant account, or prior to signing a significant contract. This requirement may not apply to newly formed or recently established companies. To be sure, it’s best to check with the bank in advance.

Requesting a Certificate of Good Standing for your company online is free in Wyoming. You can order a Certificate of Good Standing for your company in Delaware for a fee with us.

Choosing A U.S. Bank For Your New Company

Traditionally, business owners thoroughly research different U.S. banks to find the one that best fits their needs.

Traditional Banks:

Choosing a large bank, is usually simpler to open an account at a nearby branch rather than in Delaware or Wyoming due to increased identity verification measures. Local branches are preferred as they can verify your identity more easily in person than through a phone call. Keep in mind, having a branch in Delaware or Wyoming is not a requirement for banks. Major banks such as Chase, Bank of America, Citi, RBS, Deutsche Bank, and others, can still open accounts for Delaware or Wyoming based companies even without having a physical branch there. The same applies for international clients.

To ensure a smooth and hassle-free account opening experience, it is advisable for non-U.S. clients to contact the bank they want to do business with via phone or email and obtain all the information about opening an account before visiting the branch.

Furthermore, if there’s a U.S. bank with an international branch in your home country, it’s worth reaching out to them to see if they can assist in opening a U.S. bank account.

Fintech Banks (a.k.a. Neobanks):

Choosing a Fintech bank may be beneficial for both U.S. and International small business owners. Fintech banks, also known as neobanks, are a relatively new type of financial institution that operates entirely online. These banks typically offer a range of banking services, including checking accounts, savings accounts, and loans, through a mobile app or website. Fintech banks often have lower fees and a more streamlined account opening process. For international individuals looking to open a bank account in the US, neobanks can be a convenient option because they can typically open their business bank accounts online, without having to visit a physical branch.

Overall, neobanks can be a convenient and cost-effective option for both U.S. and international founders looking to open a bank account. However, it is important to carefully research different neobanks and their requirements to ensure that you can successfully open an account and access the banking services you need.

Do I Have to Visit the Bank Personally?

While we can offer guidance to provide the necessary documentation for opening a business bank account, one major challenge for non-U.S. clients is the requirement to appear in person at a traditional bank. Most traditional U.S. banks require a face-to-face meeting when opening a business bank account.

For clients who are able to travel to the U.S., this is not a problem. However, for others, traveling to the U.S. may not be feasible. In such cases, clients may ask a trusted friend or family member living in the U.S. to assist with opening the business account with a traditional bank on their behalf.

On the other hand, Fintech banks, also known as neobanks, may be a better option for International founders since they can easily open up their business bank account with them online, without visiting the U.S..

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When choosing a name for a business in the United States, it is important to consider a few key factors including availability, distinctiveness, legality and branding.

If you are setting up a Limited Liability Company (LLC) or a Corporation, you will also need to include a designator (suffix) in your business name, such as “LLC” or “INC.” This will help to differentiate your business from other types of legal entities.

Please click here to find out more.

It is not easy to determine which type of business entity, an LLC or corporation, is best for you as it depends on multiple factors such as your business goals, the nature of your business, and your individual circumstances.

If you are a U.S. person / U.S. resident please click here to find out more.

If you are a non-U.S. person / non-U.S. resident please click here to find out more.

Wyoming is a leading incorporation domicile due to low fees, no taxes, simple filing and maintenance requirements along with allowing anonymous LLCs and corporations.

For more information please click here.

If you are a U.S. resident not living in Delaware or Wyoming, the best state to form your business depends on various factors. Typically, it’s advantageous for a U.S. citizen or permanent resident to form the business entity in their home state. However, for most businesses forming a company in Wyoming is also a great choice.

If privacy and anonymity are important to you, forming a Holding Company in a state like Wyoming may be a better choice. Holding Companies can choose their domicile as they are only considered as transacting business if they engage in activities beyond holding assets and leasing them.

For further information, click here.

Common choices for a holding company (a.k.a parent company) are Wyoming, Nevada, Delaware and New Mexico. Wyoming is currently the leading state to form a Holding Company (LLC or Corporation) due to the specific statutes, anonymity, asset protection and comparatively low fees.

Please click here to find out more.

In order to incorporate in Wyoming, you need to have a company name, business address, registered agent, share count, par value, and incorporator. These are the only requirements by law to establish a corporation.

For more information please click here.

Yes, as a non-U.S. person / Non-U.S. resident / International Entrepreneur / International Founder / Digital Nomad you can form an LLC or C-Corp in the United States. In fact, it is not even necessary to physically visit the U.S.A, as it is possible to set up your LLC or C-Corp online.

Please click here to find out more.

You don’t need an SSN (Social Security Number) or ITIN (Individual Taxpayer Identification Number) to get an Employer Identification Number (EIN) from the IRS. An Employer Identification Number (EIN), also known as a Federal Tax Identification Number or a Federal Business Tax ID, is used to identify a business entity not an individual. You only need an SSN (or ITIN) if you want to apply for an EIN online with the IRS.

We have business formation packages for Non-U.S. owner(s) that includes EIN application for a discounted fee of $150. You can also hire us to obtain your EIN from the IRS for a fee of $175.

An Individual Taxpayer Identification Number (ITIN) is a tax processing number issued by the Internal Revenue Service (IRS) for individuals who are required to have a U.S. taxpayer identification number but who do not have, and are not eligible to obtain, a Social Security Number (SSN) from the Social Security Administration (SSA). ITINs are issued to foreign nationals and others who have federal tax reporting or filing requirements and do not qualify for SSNs.

The first step is to get an EIN from the IRS. You cannot open up a U.S. bank account without an EIN for your LLC or Corporation.

The easiest option is to opening up a business bank account online with a Fintech company like Mercury, Novel etc.

Another solution is to visit the United States yourself.

For other options and more information to open up a U.S. business bank account please click here.

Wyoming is a leading incorporation provider with low fees and no corporate income taxes. Delaware is generally only used by those raising venture capital or looking to go public.

For more information please click here.

How Triple B Business can help in starting your new company?

The fastest, easiest way to start your new company? Hire us and get everything you need: registered agent service, privacy, free mail forwarding, and the guidance of local experts.

We currently offer Business Formation Services only in the States of Wyoming and Delaware because these two great states offer multitude of advantages to new small business owners.

Here’s how you can start the process with Triple B Business today in 3 easy steps:


Tell Us Your Business Name

If you have already decided your new business name then simply enter it on our form. We will perform a free name search for you with the state.


Answer A Few Questions.

Answer a few questions and enter the required information on our business formation form. If we have any questions then we will get back to you.


We Will File Your Paperwork

We will complete your paperwork and be off to the races filing your new company with the state.

Don’t Wait

Contact Us For A Free Consultation