Two Very Different Paths to a US Bank Account
Non-resident founders today generally choose between two categories: fintech-native business banking platforms designed specifically for remote onboarding, and traditional banks that still largely expect an in-person branch relationship. The right choice depends less on which is "better" in the abstract and more on what your business actually needs from a bank.
Fintech Providers — Built for Remote, Non-Resident Founders
Providers like Mercury and Relay were built specifically to serve US-incorporated companies with founders outside the US. The onboarding flow is typically entirely online: submit your formation documents, EIN confirmation, and identity verification, and approval generally follows within a few days once everything checks out. No Social Security Number is required, and no US visit is needed.
These platforms typically offer solid core banking functionality — ACH transfers, wire transfers, debit cards, integrations with accounting software — but are usually not full-service banks in the traditional sense; some don't offer things like business loans or physical branch services, since that's not the problem they're built to solve.
Traditional Banks — Full Service, But an In-Person Visit Is Usually Required
Major US banks (Chase, Bank of America, and similar) offer the full range of traditional banking services — but for a non-resident founder without an existing US banking relationship, opening an account generally still requires visiting a physical branch in person, which isn't practical unless you're already planning to travel to the US for another reason.
A hybrid approach is common
Many founders open a fintech account remotely to get operational immediately, and later add a traditional bank relationship if and when they visit the US in person — rather than waiting on a US trip before the business can accept its first payment.
What to Check Before Choosing
Does it support your payment processor of choice?
If you're planning to use Stripe, PayPal, or a similar processor, most mainstream fintech and traditional providers integrate fine — but it's worth confirming before committing, especially if your business model depends on a specific payment flow.
International wire costs and FX handling
If you'll be moving money between your US entity and accounts in your home country regularly, compare wire fees and foreign exchange spreads across providers — these can add up meaningfully over a year for a business with regular cross-border transfers.
Whether you'll need physical banking services later
If you expect to eventually need a business loan, a line of credit, or services that fintech platforms typically don't offer, it's worth knowing that upfront rather than discovering the gap later.
Documents You'll Typically Need
| Document | Why It's Needed |
|---|---|
| Certificate of Formation / Incorporation | Proves the entity legally exists |
| EIN confirmation letter (CP 575) | Required tax identifier for the account |
| Operating Agreement / Bylaws | Confirms ownership and authority to open the account |
| Passport (for each beneficial owner) | Identity verification |
The same rule that applies to EIN applications applies here: names, addresses, and company details need to match exactly across every document. Mismatches between your formation paperwork and your ID are the most common cause of delayed or rejected applications.
How CompanyVista Approaches This
We coordinate banking onboarding as part of the formation process itself — preparing your documents to match exactly what the bank expects, and applying for the EIN early enough that banking isn't stuck waiting on it — so the account is typically ready shortly after the entity itself is.