Wise Business Account for a US LLC (Non-Resident)

Wise has become the go-to first account for many non-US founders with a US LLC, mostly because it is fast to open remotely. Here is exactly what you get, what you do not, and where it fits alongside a proper US bank account.

What Wise Business actually is for a US LLC

Wise is not a US bank. It is a licensed money services business (an electronic money institution in most jurisdictions) that partners with a US bank, Community Federal Savings Bank, to give its business customers a USD account balance with real US account and routing numbers attached to it. For a foreign-owned US LLC, that matters in a practical way: you can receive USD like you would with a domestic bank account, without needing to be in the US or hold a US bank relationship in the traditional sense.

This is why Wise is usually the first account a lot of European founders manage to open for their new LLC, often before or alongside Mercury or Relay. It is quick, entirely remote, and does not require you to already have US credit history or a US phone number tied to a major carrier.

What you get: USD account details, ACH and wires

Once your Wise Business account is verified, you get a USD balance with dedicated account and routing numbers. Practically, this lets you:

• Receive domestic ACH transfers from US clients, marketplaces, or payment processors as if you had a local US account
• Receive domestic wire transfers in USD
• Send USD payments to other US bank accounts and internationally in dozens of currencies, converted at Wise's mid-market rate plus a transparent fee
• Hold multiple currency balances in one account, which is genuinely useful if you invoice in EUR or GBP as well as USD

What you generally do not get, at least not automatically, is a US business debit or credit card of the kind Mercury or Relay issue, or the ability to deposit physical checks. If check deposits or a card tied directly to a US business credit history matter to you, you will likely want Wise alongside a bank account, not instead of one.

Requirements to open Wise Business as a non-resident founder

You will need your LLC formation documents (articles of organization or certificate of formation), your EIN confirmation letter from the IRS, proof of the beneficial owner's identity (passport), and proof of address. Wise will also ask about your business activity, expected volumes, and who ultimately owns and controls the company. Because Wise is regulated and has its own compliance obligations, it does run know-your-business and know-your-customer checks, and it can ask follow-up questions about the nature of your business, your website, or your invoices, particularly if your activity looks unusual for your stated industry.

You do not need an ITIN or SSN to open Wise Business. The EIN, which the IRS issues to non-residents via Form SS-4 by fax or mail, is the key document. This is one reason the order of operations matters: LLC formed, EIN obtained, then bank or Wise application. Skipping ahead rarely works.

Wise vs Mercury vs Relay for a non-US LLC

Many founders end up using two of these together, Wise for currency conversion and international clients, Mercury or Relay for the day-to-day US banking feel with cards and check deposits.

Limits, fees, and what trips people up

Wise does not publish one universal cap on how much you can receive or send. Your limits depend on your verification level, country, and transaction history, and they tend to open up as Wise gets more comfortable with your activity. New accounts sometimes see temporary holds or requests for supporting documents (invoices, contracts) on larger or unusual incoming payments. This is normal compliance behaviour, not a sign something is wrong, but it can be frustrating if you are expecting funds on a deadline.

Fees are transparent and published upfront for conversions and transfers, but they are not zero. If most of your revenue and spending stays in USD, you will pay less than if you are constantly converting between currencies. Sending USD internationally often costs less through Wise than a traditional wire from a US bank.

One thing founders sometimes overlook: having a Wise account does not remove your US tax filing obligations. A foreign-owned single-member LLC still has to file Form 5472 with a pro-forma Form 1120 every year, even with zero revenue, and the penalty for missing it starts at 25,000 dollars per late or incomplete filing. Wise, Mercury, and Relay are banking tools, not tax filers.

How this fits into setting up properly

Getting a Wise Business account open is one piece of a sequence: form the LLC correctly (Wyoming is the common default for non-residents because of its low cost and no state income tax), get the EIN, then apply for banking and cards, and stay on top of the annual 5472 filing. Founders Credit handles this whole sequence for non-US founders as a done-for-you service, LLC formation, EIN, ITIN if you want one, US business bank account setup, and US business credit cards, all remote, so you are not piecing together Wise, the IRS, and a registered agent on your own at 11pm.

Glossary

EIN: Employer Identification Number, the tax ID the IRS issues to your LLC, required to open Wise Business or any US bank account.

ITIN: Individual Taxpayer Identification Number, issued to people who are not eligible for a Social Security Number but need to file US taxes. Not required for Wise itself.

ACH: Automated Clearing House, the US electronic payment network used for domestic transfers, payroll, and many client payments.

Form 5472: An IRS information return that foreign-owned single-member LLCs must file annually alongside a pro-forma Form 1120, even with no income. It reports transactions between the LLC and its foreign owner but does not calculate tax owed on its own.

EMI: Electronic Money Institution, the type of regulated entity Wise operates as in most countries, distinct from a chartered bank.

Frequently asked questions