🇺🇸 Opening a Bank Account in United States

Honest assessment of business banking for foreign founders in United States.

Ease of opening:

3/5

Typical timeline: 1–4 weeks

Best Answer

US business banking is straightforward for US residents but challenging for non-residents. Most major banks (Chase, Bank of America, Wells Fargo) require an in-person visit to a US branch. Mercury and Relay offer online applications for LLCs and C-Corps. Non-resident EIN applications may take 4–8 weeks by fax. Banking is the #1 bottleneck for foreign founders.

Tips for Success

Have all company formation documents ready before applying — trade licence, articles of association, certificate of incorporation.
Prepare a clear business plan or description of your business activities, even if the bank doesn't explicitly ask for one.
Consider digital/neo-banks as your first account — they typically have faster onboarding for new companies.
Apply to multiple banks simultaneously rather than sequentially — rejection at one doesn't affect others.

This content is educational and does not constitute legal or tax advice. Always consult a qualified professional for your specific situation. Data last verified March 2026.