Bank account for an US LLC

Greenberry

New Member
Hi on the forum! Nice to see solutions you guys are providing here.

Trying to open Bank Account for my US LLC (I'm European), my first choice were to open account in person in US, but currently it's impossible. Meanwhile I need some offshore account. My second choice is HK as I'm having business partners there, but need on-line solution, and I didn't found one that accepts US LLC's. Fintech companies is also not solution, becouse of too big turnover on the account. Business is legal, pure, but need it's solutions outside my own country, becouse it hit big players. Please advice.
 

QuantumTeam

New Member
Hey there,

First of all, Welcome to the Forum!

Regarding Opening of Bank Account, I don't think its Possible to Open BIZ account remotely without Traveling to the US, But If it was Personal Account with debit card been forwarded to you. That One was very easy to Do. And if i may ask ? Does it need to be Business US Bank account or Personal Account would work for you?
 

xzars

Trusted Member
Business Angel
Mercury.co, Transferwise allow remote opening. But you are likely required to get a business EIN first which is not a matter of one or two days.

Wells Fargo, TD, BoA will not do remote account openings, but you might be able to avoid a flight if you appoint a local lawyer to open the account for you.
 

Greenberry

New Member
Transferwise canceled my application, because they told my e-commerce type they support only from eu markets. Mercury didn't tried, I'll see them. Thanks.

No possible to offshore banking for US LLC? I'm the owner and president, so company is in hands of EU person.
 

QuantumTeam

New Member
Mercury.co, Transferwise allow remote opening. But you are likely required to get a business EIN first which is not a matter of one or two days.

Wells Fargo, TD, BoA will not do remote account openings, but you might be able to avoid a flight if you appoint a local lawyer to open the account for you.
I Strongly Agree with you, Wells Fargo, BOA, TD won't do remote for Business acct opening. But They Do for Personal account and Its very easy. But only if you know how to Go about it. I Recently Got Wells Fargo Bank opening for my cousin and i got the Debit card forwarded to Him in Italy....
 

Greenberry

New Member
I Strongly Agree with you, Wells Fargo, BOA, TD won't do remote for Business acct opening. But They Do for Personal account and Its very easy. But only if you know how to Go about it. I Recently Got Wells Fargo Bank opening for my cousin and i got the Debit card forwarded to Him in Italy....
Maybe I'm legally wrong, but I don't think personal account is suitable for me? I'm the company owner and manager.
 

Greenberry

New Member
I Strongly Agree with you, Wells Fargo, BOA, TD won't do remote for Business acct opening. But They Do for Personal account and Its very easy. But only if you know how to Go about it. I Recently Got Wells Fargo Bank opening for my cousin and i got the Debit card forwarded to Him in Italy....
Can you give some advice on that? Maybe I'll be able to use for a while personal account, until I'll be able to enter US to open business account
 

Sols

Building Trust
Entrepreneur
A personal account is not a good idea for an LLC. Even if it's a single-member LLC, it's worth receiving the funds into an account that's in the name of the LLC.

While US banks do open accounts for foreign-owned US companies, it depends a lot on what your business does and the overall profile of it (citizenship/residency of UBOs, products/services offered, connections to the US, markets, financials, and so on). Most foreign-owned US LLCs are just not interesting to US banks because of the small volume or risks involved onboarding them.
 

inty

Active Member
provided you have the EIN it's actually very simple. fly to the us. you'll get it done.
 

Greenberry

New Member
provided you have the EIN it's actually very simple. fly to the us. you'll get it done.
Thanks, but here's the problem, my visa were declined, need wait some time to retry.

Tried Mercury.co, looks nice, but I understand it very risky as it's not bank and they are very fresh on the market... Anyway looks like no other option for now for my company.
 

Sols

Building Trust
Entrepreneur
provided you have the EIN it's actually very simple. fly to the us. you'll get it done.
That's definitely not the case. Having an EIN is no guarantee that you will get a bank account. The problem is going to be that the entity is foreign-owned and foreign-operated. It has no ties to the US.
 

inty

Active Member
On the basis of what?
Have you ever done business, run and foreign managed Delaware LLC's? I have.
In short: BoA, go to Miami.
Good luck.
 

Sols

Building Trust
Entrepreneur
On the basis of what?
Reports from multiple people who have tried. In person, here, and other forums.

Have you ever done business, run and foreign managed Delaware LLC's? I have.
Yes, and several other US states, and some C corps. I have been doing it long enough that I can tell a gross oversimplification when I see one.

Broad and sweeping statements that boil down to "Get an EIN and go to any BoA branch in Miami" isn't helpful. There is still a high risk that the bank will decline. Appearing in person and having an EIN certainly help, though, but there are more factors that go into client on-boarding. Lack of ties to the US is a problem to many banks or, more specifically, branches.

I'm not saying you're wrong; just that your success does not guarantee the success for others.
 

inty

Active Member
generalizations are useless, what you're saying is pretty obvious. we're all different and of course if your biz plan and your general biz makes no sense and little money, i don't see why any banker would have sympathy for you, regardless of the jurisdiction.

the fact is, some jurisdictions are easier than other to bank. if you have a DE LLC and you want a BoA account, it's pretty simple.
if US banking is being problematic to your biz, then maybe it's time to get back to planning phase, chances are you will never open a bank account anywhere else with your current plan.

all cheap talk aside, to the OP: go to Miami when you'll be able to travel, i regularly open there. you'll get it done.
 

fshore

Trusted Member
Business Angel
BoA (in NYC) told me in May that they have a new requirement that the owner has a ITIN (or ssn) in addition to the EIN.
 

WoWNull

Member
i have same issue, i have transferwise account and its verified but the issue i need to get payment gateway and most websites reject me.

=( stripe said my IT Consultation and web development is risky and we cant have it, bcuz a lot people may ask for refund, and mollie ask for real bank not virtual like transferwise.

and i am not having any other solution hope someone can guide me for this.

i try paypal but they reject me bcuz i live in a company and my LLC from USA so they said u need to have LLC from same country @@

btw i have EIN.

waiting for your suggestions.
 

Patrick846

New Member
Axos Bank will open business account remotely for US LLC. However they may not accept having non US person as manager/members.
 
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