Best Neobank for a Non-Resident US LLC

Not every 'US business bank account' will actually open for a founder who has never set foot in the US. Here is what separates the neobanks that work for non-residents from the ones that will quietly reject your application.

Why this decision trips up so many non-US founders

Once your LLC is formed and you have your EIN, the next question is always the same: which bank will actually let me open an account. Traditional US banks like Chase or Bank of America generally want you to walk into a branch, which is a non-starter if you live in Berlin, Lisbon, or Tallinn. That is why almost every non-resident founder ends up looking at neobanks (sometimes called fintechs or online-first business accounts) instead.

The catch is that not all neobanks are built the same way, and their rules around who they will accept change often. Some want a US Social Security Number or ITIN. Some are fine with just a passport and your LLC paperwork. Some give you a real US routing and account number for ACH and wires, others give you something closer to a payments wallet. Picking the wrong one can mean weeks of back and forth or an outright rejection after you have already paid state filing fees.

What actually matters when comparing options

Before looking at named providers, it helps to know which features matter for a foreign-owned single-member LLC specifically.

• Remote onboarding. Can the account actually be opened without a US visit, and does the provider have a track record of approving non-resident founders, not just US citizens living abroad.
• ID requirements. Does it require an SSN or ITIN, or is a passport plus company documents enough.
• US routing and account number. This matters for getting paid by US clients, Stripe payouts, and marketplaces that expect standard ACH details.
• Card program. Whether you get a physical and virtual debit card, and whether a business credit card is available (usually secured against your own cash balance rather than a traditional credit line, since you have no US credit history).
• FDIC coverage. Most neobanks are not banks themselves. They partner with an FDIC-insured bank behind the scenes, so your funds are typically covered through that partner, not the neobank's own charter.

Comparison table

Mercury, the usual first choice

Mercury has become the default recommendation for a reason. It was built with startups and non-US founders in mind, does not ask for an SSN or ITIN to open the account, and gives you a real US account and routing number that works fine with Stripe, ACH transfers, and wire payments. The application is done entirely online through their platform, and approval times vary but there is no branch visit required. Mercury is a financial technology company, not a bank itself, so deposits sit with partner banks and are FDIC insured through them up to the standard limits.

Wise Business, best if multi-currency matters

Wise built its reputation on cheap international transfers, and the business account extends that to a proper multi-currency setup. You can hold USD, EUR, and GBP balances in one account and get local account details for each. For a founder who is invoicing European clients in euros and US clients in dollars, this can be more useful day to day than a US-only account. The tradeoff is that Wise is closer to a payments platform than a full banking relationship, so it may not be the right home for building a longer-term US banking history.

Relay, worth knowing but check the ID requirement first

Relay is a solid option once you already have an ITIN or SSN, with strong tools for team cards and spend categories. Some non-resident founders find the identity verification step harder to clear without an ITIN, so it is worth confirming your specific situation before relying on it as your only option.

Payoneer, a payments tool rather than a bank replacement

Payoneer is genuinely useful if you sell on Amazon, Upwork, or similar marketplaces that pay out through it, since it gives you receiving account details without much friction. It is not really a substitute for a business bank account for holding cash, paying vendors, or issuing team cards.

How Founders Credit fits into this

Getting the LLC, EIN, and ITIN right before you apply for a bank account is what actually determines whether the application goes smoothly. Founders Credit handles the whole sequence for non-US founders, forming the LLC, filing for the EIN correctly for a foreign owner, applying for the ITIN, and then opening the US business bank account and getting business cards issued, entirely remotely. It removes the guesswork of which neobank will actually say yes to your specific situation.

Glossary

EIN. Employer Identification Number, the tax ID your LLC needs to open a bank account and file with the IRS, obtained via Form SS-4.

ITIN. Individual Taxpayer Identification Number, issued by the IRS to people who need a US tax number but are not eligible for a Social Security Number. No US visa is required to get one.

Neobank. A financial technology company offering bank-like accounts and cards online, usually partnering with a licensed bank behind the scenes for FDIC coverage.

Form 5472. An information return that a foreign-owned single-member LLC must file annually along with a pro-forma Form 1120, even with zero income. It does not calculate tax itself, but missing the deadline can trigger a $25,000 penalty.

Registered agent. A person or company with a physical address in your LLC's state who receives legal and state mail on the company's behalf, required in every US state.

The short version

If you want one account that works reliably for a foreign-owned LLC without an SSN or ITIN, Mercury is the safest starting point. Add Wise Business alongside it if you are regularly moving money between currencies. Treat Relay and Payoneer as add-ons for specific needs rather than your primary account, unless you already hold an ITIN.

Frequently asked questions