Opening a Bank Account for LLC in the USA

Bank Account for an LLC

Setting up and launching an LLC in the U.S. requires a bank account to manage company funds. This article explains the conditions, steps, and conveniences for opening an account from your home or office, without residing in the U.S.

Not all banks offer virtual processing. Many traditional banks require things like residency, minimum deposits, physical checkbooks, etc. However, technological advancements and globalization have created alternatives that simplify procedures and minimize bureaucracy without compromising legal compliance.

Here are some aspects to consider when opening a bank account:

LLC Formation

It's essential that your LLC is formed and you have obtained your EIN, which is required to operate your business within the state. If you want to know more about forming an LLC in the U.S., you can consult our guides: Guide to Opening an LLC in the United States or What should I do if I want to Form an LLC in the USA?.

Virtual Processing

Banks with virtual platforms are the best option for opening an account without traveling to the U.S. You can complete the process from anywhere in the world. Platforms like Globalfy, Brex, Mercury, Relay, and others streamline the process virtually.

Registered Business Address

As with LLC formation, you need an address for information exchange.

Passport

To open a bank account, as with forming and registering the LLC, you don't need a business visa or U.S. citizenship. A valid passport is all you need.

Information for the Account Opening Application

Depending on the platform, the necessary data and steps for applying are:

Business Information

• Company name
• Physical and virtual address
• Industry type
• Names of capital-contributing members
• Other company identification data

Owner Information

• Names and contact information of the members
• Percentage of participation in the property
• Other data to assess their client profile

Business Contact

• Physical contact information for the company
• Addresses (country, state, street, office, zip code)
• Phone numbers

Trade Name or Brand

• Often, the company name differs from the trade name or brand. It's necessary to provide both.

Registration Documentation

• Documentation used to register your LLC.

EIN (Employer Identification Number)

As mentioned, providing this document is essential to validate your company's start of operations.

Bibliography

• How to open a commercial bank account in the United States

If you need more information about opening a bank account for an LLC in the United States, contact us!