US Bank Account Services with NCP

Bank Alternative for Non-U.S. Residents

Depending on a single joint venture partner, relying on a solitary source for leads, or working with only one supplier or vendor can leave you vulnerable to a single point of failure.

But perhaps the most crucial area where you should avoid being a “one” is banking. Having just ONE BANK ACCOUNT can be a recipe for disaster.

If that account is closed, frozen, or otherwise inaccessible, your business could be brought to its knees.

That’s why it’s crucial to diversify your banking relationships and work with multiple partners. Doing so will protect your funds, and your business can continue operating even if one bank account is compromised.

So, if you rely on just one bank account, it’s time to diversify. Don’t let the worst number in business bring you down – instead, take control of your financial future by working with multiple banking partners.

Update November 2024: We now offer a private banking solution for companies with at least two years of operational history and a $100K minimum deposit requirement. No U.S. travel is necessary, but an ITIN is required. If you meet these qualifications, contact us to learn more.

Update August 2024: Mercury Bank began closing accounts for businesses in certain high-risk jurisdictions, including Ukraine and 13 African countries, citing changes in account eligibility criteria and enhanced regulatory compliance measures. This decision is likely tied to increased scrutiny on AML and KYC compliance following global fintech regulatory updates. Businesses affected should explore alternative banking options that meet international compliance standards.

Update April 2024: Neo-banks Mercury and Relay do not allow the registered agent address for banking purposes. Mercury has an exception if your company’s physical address is in your country and you provide a personal bank statement or utility bill to your foreign address.

Update November 2023. Mercury requires that the account be set up with a US person who would complete a W-9, which means a single-member LLC disregarded is no longer an option. Do some setup with Mercury and disregard this acknowledgment, yes, we don’t recommend it for potential IRS issues.

NCP partners with both neo-banks and offers special customer support for our banking services. We can also consult if you are stuck with your U.S. banking process or need to know the best and most current options.

If you do not have a U.S. company formation, first gain clarity on your best U.S. banking options BEFORE forming a U.S. entity. You want to avoid what so many do: to find a low-priced option only to form the LLC and realize either during the process or after opening a U.S. bank account (even without travel) is impossible.

At NCP, we have experience since 1997, having formed thousands of companies and worked with dozens of banks, brokerage accounts, and online banking platforms. We have the experience to help you fit all the puzzle pieces in the correct sequence to accomplish this task.

As we can’t control the banks and their policy changes, we can control how best to form your U.S. company to lead to your best option to establish the bank account. This may involve how the LLC is formed and managed, to a lease agreement without an expensive lease, to match documents and state records to streamline the experience.

Most important are our relationships with our bankers, our doing things right, and our attraction to successful entrepreneurs with whom the banks prefer to work over time. Let us share our current U.S. banking options and recommendations for 2024.

If you or someone you know needs support in 2025, we can help set up your U.S. entity correctly and provide all the resources, from sales tax to tax returns.

Ensuring your bank account is verified starts with setting up your U.S. company correctly, and we’re here to guide you through the process. Book a call with our team, and as we learn more about your unique situation, we’ll provide a custom quote tailored to your needs—whether it’s reviewing and amending your LLC formation, updating IRS records, or starting fresh to do it right from the beginning. Click here to schedule your call today.

Before we get to the banking details, you must know this ONLY works on a U.S. entity, not a foreign entity. If you want to open an account with a national bank such as B of A, Citibank, Wells Fargo, or Chase, we consult on the latest requirements and hoops to travel to the U.S. and open those accounts (see our update above).

If you don’t hit every checkmark, you will NOT get these accounts opened (even if you travel to the U.S. in person). They are not easy to set up and will be much more expensive with the extra level of scrutiny at the company and personal level.

As you know, we do a lot of work in the e-commerce space, and there are “transfer” accounts, such as Payoneer, Wise, and others.

The challenge is that moving money from one currency to another is great, but they are not fully functioning bank accounts. They do not allow for an ACH pull, which is required to automate the payment of sales taxes.

Important: If you set up your own account with Mercury or Relay and it remains unverified, we cannot assist as a partner. However, if additional verification is required—such as providing a utility bill linked to our Nevada address service along with completing several steps—we can assist. The most effective approach is to work with us from the start, allowing us to review your documents, set up the account, and ensure verification is completed.

Non-travel option. Fee: Email Support for Current Pricing and Availability.

Our banking package includes up to 20 different accounts per entity. Plus, you can set up bank accounts for multiple entities after we set up your first account. The managed structure must be the same.

Our 100% money-back guarantee is simple.

If you submit all the correct forms below and submit them, and your bank account is not opened, we will refund your money within 48 hours if our bank confirms they cannot open your account. At this point, we would let the bank know to close your account as you cannot complete the setup process. Keep in mind that banks have different requirements, and they change often. 

When we set up the account with Relay or Mercury, a utility bill is NOT required with our U.S. address service.

Requirements to open a U.S. Bank Account without Travel:

  • U.S. Entity and EIN (any of the 50 states). If you do not have either set up (correctly), we provide those services on our website on this page.
  • The owner must be a foreign individual (not a foreign company).
  • U.S. Entity Operating Agreement for an LLC or Bylaws for a Corporation.
  • IRS Letter with your EIN. If you do not have it, we will provide you with the steps to call the IRS and have them fax it to you.
  • U.S. business addresses are real: No registered agent addresses. If you do not have an address, we provide one. We only offer the year in full address with the bank account. Learn more here.
  • Utility bill for the U.S. business address or your personal address.
  • U.S. phone number. A Skype number will work. Go to this link to set up.
  • Personal information on all owners that are more than 25% of the U.S. company.
  • A Government-issued passport in COLOR
  • A business website or any URL related to your business, such as a Facebook or Instagram page, will be accepted.
  • NCP must form your U.S. entity.

Time Frame to Open U.S. Account:

  • After you pay and complete our web form with all your details for the U.S. bank account, we will create your account within 72 hours. You will receive a welcome email with the steps to fund your account. You may add signers later.
  • The debit card will be mailed separately to your business address. You will receive that within 15 business days after your account is opened.
  • Postage to mail your debit card with tracking is separate.

How to Fund the Account Once Opened:

We recommend you fund your account with $100 to start and test out your account. To fund your account (outside the U.S.), you will send money from your foreign source account (via Wire, TransferWise, etc.) to fund your account. International cards can be linked. There is an additional $1 charge beyond the base fee per transaction.

Process After Payment:

  • We will send you an email 24-48 hours with a Non-disclosure to sign as the first step.
  • We will send you an email with an online web form to be completed with the details required to open an account.
  • We will complete the online process through our link, and you will receive an email.
  • Once the bank account is set up, the debit card and bank details will also be emailed.
  • The debit card will be mailed to your U.S. address provided on our application. If you use NCP’s virtual address, postage to mail your debit card with tracking is separate.
  • Once your account is opened, you will have access to the bank’s customer online support, which is very responsive.

Ready to navigate the complexities of U.S. banking as a non-resident?

Schedule a Zoom call with our team below to review your situation and current U.S. banking and address services pricing. For support with major U.S. banks like Wells Fargo, B of A, or Citibank, you’ll first need a consultation with our CEO, Scott Letourneau.

We’ll guide you through the most up-to-date requirements and necessary steps, including travel, to ensure you’re well-prepared to successfully open one of these highly sought-after bank accounts.