Opening a business bank account for your LLC is one of the most important steps to separate your personal and business finances — and to run a legitimate, tax-compliant company.
In this guide, you’ll learn exactly how to open a business bank account for your LLC, what documents you need, why it matters, and which banks are best for U.S. and non-U.S. residents.
Why Your LLC Needs a Business Bank Account
Having a dedicated business bank account is not just a good idea — it’s often a legal necessity.
Key Benefits:
- Separates personal and business finances (important for liability protection)
- Builds business credit
- Accepts payments under your LLC name
- Simplifies taxes, payroll, and accounting
- Increases trust and professionalism
If you mix personal and business funds, you risk “piercing the corporate veil” — which can lead to personal liability.
Documents Needed to Open an LLC Bank Account
To open a business bank account for your LLC, you’ll need the following documents:
Required for U.S. Residents:
- Articles of Organization (LLC formation document)
- EIN (Employer Identification Number) from the IRS
- Operating Agreement (especially for multi-member LLCs)
- Business license (if required by your state or county)
- Valid government-issued photo ID
Required for Non-U.S. Residents:
- All of the above, plus:
- Passport (instead of U.S. ID)
- ITIN (optional but helpful)
- U.S. Address (some banks may require this)
- Proof of business activity (invoice, website, etc.)
FormLLC helps clients get EIN, U.S. address, and all the docs needed for banking.
Where Can I Open a Business Bank Account?
1. Online Banks (Recommended for Non-U.S. Residents)
- Mercury – No monthly fees, virtual debit cards, easy onboarding
- Relay – Multiple users, budgeting tools, integrates with QuickBooks
- Wise – Great for international transfers (but no debit card for LLCs)
- Bluevine – High-yield account with checking and credit options
Note: Mercury and Relay now require a U.S. residential address for the LLC owner.
2. Traditional Banks (Good for U.S. Residents)
- Chase
- Bank of America
- Wells Fargo
- Capital One
These banks may require an in-person visit and more documents.
Can a Non-U.S. Resident Open a U.S. LLC Bank Account?
Yes — but it depends on the bank.
Options:
- Mercury: Accepts non-U.S. residents but now may require a U.S. address
- Wise: Accepts global business owners but no debit card for U.S. LLCs
- Relay: May ask for more verification for non-residents
- Payoneer: Works as a workaround, though not a full U.S. business account
FormLLC clients commonly open accounts with Mercury or Wise, depending on their address and documentation.
Step-by-Step: How to Open a Business Bank Account for an LLC
Step 1: Form Your LLC
- Choose a state (e.g., Wyoming, Delaware, New Mexico)
- File Articles of Organization
- Get an EIN from the IRS
- File BOI Report (required in 2024 and beyond)
Step 2: Gather Documents
- Articles of Organization
- EIN Letter (CP 575 from IRS)
- Operating Agreement
- U.S. address (if needed)
- Passport or government ID
Step 3: Choose a Bank
- Online or Traditional?
- Domestic or International?
- Compare fees, features, and requirements
Step 4: Apply Online or In-Person
- Fill out bank’s application form
- Upload your documents
- Wait for approval (usually 1–5 business days)
Step 5: Fund Your Account & Start Transacting
- Deposit startup funds
- Set up online banking
- Order debit card, checks, or payment gateway if needed
Pro Tips for LLC Owners
- Use your LLC name exactly as registered (with “LLC” at the end)
- Avoid using a personal PayPal or Stripe account — get business versions
- Open the account before receiving client payments
- Use accounting software (like QuickBooks or Wave) to track finances
How FormLLC Can Help You
We make the entire LLC setup and banking process easy for U.S. and non-U.S. founders.
✅ LLC registration in any U.S. state
✅ EIN delivery within 24–48 hours
✅ BOI Report Filing (required in 2024)
✅ Free Registered Agent for 1 year
✅ Business email, domain, and dashboard
✅ Guidance on opening Mercury, Wise, or Relay accounts
📧 Email: contact@formllc.us
🌐 Website: www.formllc.us
📱 WhatsApp: +91 6202619173, +1 332266218
Final Thoughts
Opening a business bank account for your LLC is a must for managing your finances professionally and staying legally compliant.
With the right documents and the right banking partner — whether you’re in the U.S. or abroad — you can open an account in just a few days and begin building your business properly.
