💲U.S. Bank Account
Does your service include help applying for a U.S. bank account?
Yes. We partner with Relay, Mercury, and Wise. We'll provide you with all the documents required by Mercury to apply to open a U.S. bank account. We'll also provide you with instructions on opening your account. Because of Know-Your-Customer (KYC) and Anti-money laundering (AML) laws, we cannot open the account on your behalf. Mercury makes it simple and easy, less than 10 minutes.
Is a U.S. bank account guaranteed?
No. Formation of your U.S. LLC and all documents needed to apply for a U.S. bank account is guaranteed. However, a U.S. bank account is not guaranteed because your eligibility is determined solely by the bank. Unfortunately, we do not have any control over internal review processes and decisions on eligibility made by any of our third party providers. With that said, over 99.7% of our clients have been approved for an account with Relay, Mercury, and Wise.
Common reasons a bank would reject a prospective client for a business checking account include:
fraud,
misrepresentation,
suspected identity theft,
bad credit history,
negative history from a reporting agency,
completing the application incorrectly,
other reasons and or
you or an entity you have an interest is on the OFAC’s List of Specially Designated Nationals and Blocked Persons (SDN List), or other U.S. government list.
What documents does Relay require?
You’ll need a U.S. company with a federal EIN, your company’s official formation documents, and a picture government ID of all members. Relay also requires you provide your most recent utility bill with your name and home address, and three months of your most recent bank statements with your name and home address. A one page business plan which we can help you with and a website are also recommended.
What documents does Mercury require?
You’ll need a U.S. company with a federal EIN, your company’s official formation documents, and a picture government ID of all members.
What documents does Wise require?
You’ll need a U.S. company with a federal EIN, your company’s official formation documents, and a picture government ID of all members.
Can I open an account if I’m not physically in the U.S.?
Yes. You can open your account right from your laptop without needing to visit the U.S.
There are a few exceptions. Relay, Mercury, and Wise can’t currently open accounts for founders living in the following countries: Afghanistan, Albania, Belarus, Bosnia & Herzegovina, Botswana, Burundi, Cameroon, Central African Republic, Congo (the), Congo (the Democratic Republic of the), Croatia, Cuba, Cyprus, Eritrea, Ethiopia, Haiti, Iran (Islamic Republic of), Iraq, Korea (the Democratic People's Republic of), Kosovo, Lebanon, Liberia, Libya, Macao, Macedonia (Republic of North), Mali, Montenegro, Mozambique, Namibia, Myanmar (Burma), Nigeria, Nicaragua, Pakistan, Palestinian Territories, Russia, Serbia, Slovenia, Somalia, South Sudan, Sudan (the), Syria, Tanzania (United Republic of), Ukraine Regions: (Kherson, Zaporizhzhia, Donetsk, Luhansk, and Crimea), Venezuela (Bolivarian Republic of), Viet Nam, Western Sahara, Yemen, and Zimbabwe.
Last updated