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Updated September 2026 · 6 min read · Dasbanq Team

SHORT ANSWER

For an LLC owned by someone outside the U.S., options fall into two groups: traditional banks (Chase, Bank of America, Wells Fargo), which usually require a branch visit, and fintechs with partner banks (Mercury, Relay, Wise Business), which open online but may require a U.S. operating presence or exclude some countries. Approval is always up to the institution.

Comparison

Institution	Type	What it says for non-resident owners	Zelle
Chase	Bank	EIN required; ITIN or foreign TIN accepted for owners; only single-member LLCs can apply online	Yes
Bank of America	Bank	Online business applications are for U.S.-based businesses; foreign business customers cannot apply at this time	Yes
Mercury	Fintech (Choice Financial Group, Column N.A.)	Non-residents may apply; may request proof of U.S. operations; excludes residents of Venezuela, Nicaragua, Haiti and Cuba, among others	No
Relay	Fintech (Thread Bank)	Requires a U.S. operating presence and a U.S. address for owners	No
Wise Business	Not a bank	No SSN for non-U.S. owners; needs a physical trading address in a supported country; no Nevada companies	No

Requirements change often. Check each institution's official page before applying.

How to choose

Where do you live? Some fintechs exclude certain countries of residence.
Who pays you? U.S. clients make it easier to show U.S. operations.
Can you travel? If so, traditional banks add branches and Zelle.
What do you need? Card payments, multi-currency, local transfers: each institution does one thing better.

Step-by-step guide: open a U.S. bank account without being a resident.

Frequently asked questions

What is the best U.S. bank for foreign-owned LLCs?

It depends. If you cannot travel, fintechs such as Mercury, Relay or Wise Business open online, each with its own rules. If you can visit a branch, banks such as Chase or Bank of America add Zelle and in-person service.

Is my money FDIC insured at a fintech?

Fintechs hold deposits at partner banks that are FDIC members; some spread deposits across several banks for more coverage, with conditions. Wise states it is not a bank and FDIC coverage applies only in limited cases.

DASBANQ STANDARD PLAN

From USD 50 per month

Includes your registered agent, a physical U.S. address and bookkeeping with the filings in the agreed scope, with an account manager. Formation (documents and EIN) is a one-time fee, billed separately. We also handle your U.S. dollar account application; approval is always up to the institution.

Not sure which account to request?

Dasbanq forms your LLC, handles your EIN and your U.S. dollar account application. Book a free 30-minute call.

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Official sources

This article is for information only and is not banking advice. Content reviewed in September 2026.