How International Founders Actually Open U.S. Bank Accounts (and Where They Get Stuck)

What you need before you apply

Banks and fintech companies are doing the same basic job here: confirming your company exists, confirming who owns/controls it, and confirming the business activity looks consistent with what you say it is. If you’re missing one of those pieces — or the story doesn’t line up across documents — approvals slow down, or you get outright rejected without much detail.

Required: The non-negotiables

To open a U.S. business bank account as an international founder, you generally need a U.S.-based business entity (LLC or Corporation), an EIN from the IRS, and your core company documents.

At a minimum, you’ll need to provide formation documents, your EIN confirmation, and passports for all owners.

Core document checklist:

• Certificate of Formation/Incorporation

• Operating agreement (for LLCs) or corporate bylaws (for Corporations)

• EIN confirmation letter (Form CP-575 or Form 147C)

• Government-issued photo ID (passport) for all beneficial owners; for non-US residents, you’ll generally need two forms of ID, such as a valid passport and a US-issued visa

A simple way to think about this: you’re proving (1) the entity is real, (2) the EIN is real, and (3) the people behind it are real.

Recommended: Items that make approvals smoother

These aren’t always required, but they reduce friction — especially with remote-first providers and compliance reviews.

• A U.S. mailing address - A virtual office or registered agent address works for many fintech companies.

• A real, complete business website - Some providers check this during review, and it’s an easy way to validate your business at a glance. 

• A functioning U.S. phone number - It’s not always required, but it may appear in verification flows. Some founders use virtual numbers, such as Google Voice. 

Common but risky moves

These are the choices that tend to create avoidable delays or dead ends.

• Using a P.O. Box as the business address - A P.O. Box is often not accepted for banking purposes. 

• Applying before your EIN is fully processed - Some applications move forward initially but stall when the EIN can’t be verified cleanly.

Getting your EIN as an international founder

International founders can obtain an EIN without an SSN or U.S. address. The catch is that the IRS online EIN portal isn’t available if you don’t have an SSN, so you’ll typically use Form SS-4 via fax or mail.

Your banking options (and what they’re really good for)

There are two broad paths when it comes to choosing your banking method: remote-friendly fintech platforms and traditional banks. Which one works best will depend on your demographics: residency/country checks, industry, business model, and how “standard” your documentation looks.

Remote-friendly fintech companies (no U.S. visit required)

For many international founders, remote-friendly fintechs are the cleanest route because they’re designed to onboard companies without requiring an in-person branch visit.

That said, “remote-friendly” doesn’t mean “lightweight.” Expect a real Know Your Customer (KYC) review and the possibility of follow-up requests.

Mercury Bank

• Requires a U.S. company and EIN; non-U.S. residents may be eligible if they have existing or planned operations in the U.S.

• Has restrictions for certain founder countries and excludes some business categories (including ones that often deal with physical cash)

Brex

• May have stricter eligibility requirements and be a better fit for later-stage companies

• Offers an extensive list of prohibited and restricted activities when it comes to the companies it works with

• Does not accept sole proprietors, unincorporated partnerships, and companies organized and/or registered outside the U.S.

Wise Business

• Not a U.S.-chartered bank, but can provide U.S. bank details for receiving payments

• Often used by early-stage companies for one-off or occasional international payments

Traditional banks (typically require an in-person visit)

Traditional banks can still be a good option, especially if you want a long-standing banking relationship, but they may be less consistent about remote onboarding. Many require an in-person visit.

One practical reality: branch experience varies. Two branches of the same bank may give you different answers, and some bankers have simply worked with more international founders than others. Some founders report that if you don’t have an SSN/ITIN, raising it early with the banker can help clarify what’s possible at that branch.

If you’re traveling to the U.S.:

• Choose larger banks with international networks and visit areas with more expats/immigrants.

• Have your EIN ready, and be prepared to show proof of a U.S. company address (like a utility bill or lease).

Where international founders actually get stuck

The “stuck points” are usually compliance-related. Not because you’re doing something wrong; more because your situation doesn’t fit the default template.

1) Country restrictions and eligibility blocks

Some providers restrict applicants from certain countries, and those restrictions can change. For example, in 2024, Brex and Mercury announced major service changes affecting international founders in multiple regions and countries. Mercury currently does not support accounts for founders in dozens of countries. 

If you’re applying from (or connected to) a country that triggers extra review, you can do everything else “right” and still lose time.

2) Rejections without a clear explanation

This can be one of the most frustrating parts of trying to open a U.S. business bank account. Some founders run into what feels like arbitrary decision-making with applications rejected, stalled, or routed into manual review with minimal detail about what’s missing. A common theme is confusion around what documents are needed for KYC and Anti-Money Laundering (AML) checks.

The practical takeaway: don’t assume “submitted” means “complete.” Build your application like a compliance reviewer will read it (because one will).

3) Account freezes after approval

Even after you’re approved, you can run into freezes or closures, and banks often don’t give granular reasons. One common trigger is a mismatch between your stated business activity and actual transaction patterns. If you describe the business as coaching but the account sees e-commerce-style transactions, that mismatch can raise flags. Some founders also report sudden freezes or delayed wires.

How to reduce rejection and freeze risk

You can’t control every compliance rule or policy change. But you can control how clean your file looks and how predictable your activity appears.

Before you apply:

1. Describe your business the way your bank activity will look.
   Banks look for alignment between what you say you do and what the account actually does. If you’re going to be paid via invoices but you describe an unrelated model, you’re creating avoidable friction.

2. Check restricted industries up front.
   Many providers list business categories they won’t support, often including gambling and adult entertainment.

3. Verify your country isn’t restricted before you spend time applying.
   Eligibility lists change. Confirm the current policy directly with the provider before you assume you’ll pass onboarding.

4. Treat your website as part of your documentation.
   A sparse or “coming soon” site can slow reviews. A clear description of what you do, who you serve, and how you get paid makes your application easier to underwrite.

After you’re approved:

1. Keep KYC documents current and consistent.
   If IDs or proofs of address expire, reviews can stall. Keeping records up to date helps reduce compliance-related interruptions.

2. Flag unusual activity in advance when possible.
   If you expect unusual financial activity (e.g., large deposits, large international transfers, etc.) you may want to notify your bank ahead of time.

3. Maintain a backup account.
   Having a second account option reduces operational risk if the primary account is delayed, under review, or paused. Some experts explicitly recommend keeping 2–3 alternatives available.

Using a U.S.-based authorized person

If remote applications fail, or you keep getting routed into dead-end reviews, some companies authorize a U.S.-based person to open the account on the company’s behalf.

A Delaware C Corporation formed by two international founders can appoint an administrative agent (such as a U.S. resident employee, lawyer, or service provider) to open a U.S. business bank account, provided the appropriate corporate steps are followed.

Comparison: Remote banking options for international founders

Timeline expectations

Actual timelines vary, but here are typical ranges founders plan around:

What founders typically do next

Once your U.S. business bank account is live, the next steps are usually operational:

• Connect payment processors (Stripe, PayPal) that require U.S. banking

• Set up accounting integrations as needed with QuickBooks or Xero

• Establish payroll for employees and contractors

• Open a secondary account as a backup for business continuity

For a complete checklist, download The Founder’s Getting Started Guide to Payroll. You’ll learn how to set up payroll from incorporation onward, pay contractors and employees correctly across borders, and avoid common mistakes that can become compliance nightmares.

Legal disclaimer: The information provided is for informational purposes only and should not be considered legal advice.