Cheque payments for an LLC where to deposit?

[stivemoose]

Hello everyone,

I'm seeking some valuable advice from the community regarding the challenge I'm facing in opening a bank account for my LLC in Wyoming as a non-resident alien. Unfortunately, my previous applications with Mercury and Relayfi were rejected, leaving me in search of alternative banks that cater to non-resident individuals.

I would greatly appreciate it if you could share your insights and experiences with any other banks that might be suitable for my situation. Specifically, I am looking for banks that:

1. Accept applications from non-resident aliens.
2. Allow remote account opening, considering my inability to physically visit a branch.
3. Enable the addition of a cheque remotely, as I have a cheque issued to my LLC.

Any recommendations or suggestions would be immensely helpful. Thank you in advance for your assistance!

 

[JackAlabama]

Hello everyone,

I'm seeking some valuable advice from the community regarding the challenge I'm facing in opening a bank account for my LLC in Wyoming as a non-resident alien. Unfortunately, my previous applications with Mercury and Relayfi were rejected, leaving me in search of alternative banks that cater to non-resident individuals.

I would greatly appreciate it if you could share your insights and experiences with any other banks that might be suitable for my situation. Specifically, I am looking for banks that:

1. Accept applications from non-resident aliens.
2. Allow remote account opening, considering my inability to physically visit a branch.
3. Enable the addition of a cheque remotely, as I have a cheque issued to my LLC.

Any recommendations or suggestions would be immensely helpful. Thank you in advance for your assistance!

Why did they reject you? Especially relayfi, they seem pretty good.
You can try airwallex, trynovdel, trulyfinancial...
novel supports cheques, you take pictures from the app with your phone to upload to them.

 

[Sols]

Since you mention checks — I don't think you have any realistic US options. You have already been denied by two of the most popular options with non-resident aliens. But if you can find another way to open a US bank account with a similar type of challenger bank, you might be able to accept eChecks through something like PaySimple or SeamlessChex. But if we're talking about paper checks, I think you're out of luck.

If you can, take payment by ACH, wire, PayPal, debit/credit card, or other popular payment method instead from your US customers.

You can cash US checks with some major international banks. But it usually takes several weeks for them to clear and the fees are very high. It's not good at all for your business' cash flow. However, if you are an attractive enough client, you can open a business bank account with one of these banks and cash checks.

 

[stivemoose]

Why did they reject you? Especially relayfi, they seem pretty good.
You can try airwallex, trynovdel, trulyfinancial...
novel supports cheques, you take pictures from the app with your phone to upload to them.

AirWallex does not accept non-resident US LLCs without a physical presence in the state, such as a billing address. Additionally, I had a negative experience with TryNovel bank as they closed my account. Do you have any other idea?

Since you mention checks — I don't think you have any realistic US options. You have already been denied by two of the most popular options with non-resident aliens. But if you can find another way to open a US bank account with a similar type of challenger bank, you might be able to accept eChecks through something like PaySimple or SeamlessChex. But if we're talking about paper checks, I think you're out of luck.

If you can, take payment by ACH, wire, PayPal, debit/credit card, or other popular payment method instead from your US customers.

You can cash US checks with some major international banks. But it usually takes several weeks for them to clear and the fees are very high. It's not good at all for your business' cash flow. However, if you are an attractive enough client, you can open a business bank account with one of these banks and cash checks.

TryNovel bank unexpectedly sent me a check for an amount close to $10,000 without providing any explanation. I'm unsure about what steps to take next. Since the check is issued under my name and my LLC's name, is it possible to deposit it into another company owned by different individuals?

I would appreciate any guidance or recommendations on a local bank also that would be willing to accept and process this check, I've no ITIN. Also looking for any international bank. Thank you in advance for any assistance you can provide.

 

[Sols]

TryNovel bank unexpectedly sent me a check for an amount close to $10,000 without providing any explanation. I'm unsure about what steps to take next. Since the check is issued under my name and my LLC's name, is it possible to deposit it into another company owned by different individuals?

No, banks will deny that. You would ideally cash it into an account that belongs to the your LLC, otherwise into an account that belongs to you. The bank you cash with will probably ask to see some proof that it's your LLC.

I would appreciate any guidance or recommendations on a local bank also that would be willing to accept and process this check, I've no ITIN. Also looking for any international bank. Thank you in advance for any assistance you can provide.

Look around for large international banks where you live. HSBC, Deutsche Bank, Citibank, Standard Chartered, and so on. It's usually possible to cash US checks with them even outside of the US. It will take a long time to clear, since they have to send it to the US for clearing there.

 

[stivemoose]

No, banks will deny that. You would ideally cash it into an account that belongs to the your LLC, otherwise into an account that belongs to you. The bank you cash with will probably ask to see some proof that it's your LLC.


Look around for large international banks where you live. HSBC, Deutsche Bank, Citibank, Standard Chartered, and so on. It's usually possible to cash US checks with them even outside of the US. It will take a long time to clear, since they have to send it to the US for clearing there.

I said that becuase I have some friends who are having LLC and Mercury that they could deposit, but of course the issue is hat check is on my name....If was possibile to reverse to them...

I have created a Relay account, and they have approved it. However, I'm disappointed because the maximum limit for depositing a check is only $5,000. I requested them to increase the limit, but they refused.

I'm considering forming another LLC with the same company name but in a different state and attempting to open an account with Mercury. Do you think this approach could be successful?

I've also heard that there are some banks in Puerto Rico that accept nonresident US clients who have an LLC. Perhaps, there I could find a bank that would accept my checks?

Another issue is the 180 day limit on the check I think, what would be if I'll reach the limit?

Thank you.

 

[Alexmorgan]

Mercury accept Check but need to be written in your LLC name and it should be made by US company

As its in your own name you need to go to a real Bank and deposit or get cash from it

 

[Sols]

I'm considering forming another LLC with the same company name but in a different state and attempting to open an account with Mercury. Do you think this approach could be successful?

Maybe, but why would there be a check issued to the company from before the company was incorporated?

I've also heard that there are some banks in Puerto Rico that accept nonresident US clients who have an LLC. Perhaps, there I could find a bank that would accept my checks?

Most of those banks are not setup to process checks.

Another issue is the 180 day limit on the check I think, what would be if I'll reach the limit?

Then the check is invalid and you'll have to ask TryNovel for a new one.

 

[stivemoose]

Mercury accept Check but need to be written in your LLC name and it should be made by US company

As its in your own name you need to go to a real Bank and deposit or get cash from it

I don't have Mercury and I'm not able to open it, I've tried few times and I always got rejected.