Business banking for your US LLC — without a US address
Traditional US banks won't open accounts for you remotely. Wise Business works from anywhere in 1–3 days. Add Mercury when you need a real FDIC-insured US bank. Use both — they cost nothing and cover every situation.
Key takeaways
Chase, BofA, Wells Fargo all require an in-person branch visit. Not an option from abroad.
Fully online, 40+ currencies at mid-market rates. The default for most nomad LLCs.
A real US bank account, opened online. Best for investors, ACH, or US-centric clients.
Wise for daily ops and multi-currency, Mercury when clients or investors need a real US bank.
Why you need a separate business account
A US LLC is a separate legal entity. When you mix its money with your personal finances — receiving client payments in your personal account, paying LLC expenses from your personal card — you erode the separation that makes the LLC valuable in the first place.
This matters for two reasons. First, the liability protection an LLC provides depends on maintaining that separation. If you can't show a clear line between you and the company, a court or creditor could pierce the corporate veil and hold you personally liable. Second, your bookkeeping becomes a mess, which makes filing Form 5472 and handling your taxes significantly harder and more expensive.
⚠️ Traditional US banks won't work
Chase, Bank of America, Wells Fargo — all require you to visit a branch in person with US identification to open a business account. As a non-US person living abroad, this is essentially impossible without a trip to the US. Even then, many will decline non-US owners.
Wise Business — the default for most nomads
Wise Business is the most commonly used option among non-US LLC owners. You can open an account entirely online, from anywhere, using your passport and LLC documents. There's no minimum balance, no monthly fee for the basic account, and you get local account details in USD, EUR, GBP, and several other currencies. Open Wise Business →
For nomads invoicing European clients in EUR and paying expenses across multiple currencies, Wise's mid-market exchange rates are a significant advantage over traditional banks. You can hold balances in multiple currencies and convert only when the rate suits you.
It's not a bank — it's an e-money institution — which means no FDIC insurance and slightly different account terms. For most nomads, this is an acceptable trade-off given how much easier the setup is.
Mercury — when you need a real US bank account
Mercury is a US fintech that offers real FDIC-insured bank accounts for startups and small businesses. It's fully online, well-designed, and accepts non-US owners — though the application involves more scrutiny than Wise. Open Mercury →
Mercury makes more sense if you're raising investment, need FDIC insurance for larger balances, or work primarily with US clients who expect ACH payments. For a solo consulting or freelance LLC, Wise is simpler and faster to open.
Wise vs Mercury — side by side
Multi-currency account for nomads invoicing globally
- Setup1–3 days, fully online
- FDIC insuredNo (e-money)
- Currencies40+ with local IBANs
- Monthly feeFree basic plan
- Best forEU clients, multi-currency ops
Real FDIC-insured US bank account for startups
- Setup3–7 days, more scrutiny
- FDIC insuredYes, up to $250k
- CurrenciesUSD only
- Monthly feeFree
- Best forUS clients, raising investment
💡 Documents you'll need
For either option: your passport, your LLC's Articles of Organization (or Certificate of Formation), your EIN confirmation letter from the IRS, and your registered agent's address. If you used doola, Northwest, or ZenBusiness to form your LLC, all of this should already be in your inbox.
What about Stripe or PayPal?
Stripe and PayPal are payment processors, not bank accounts. You can use them to accept client payments, but you still need a bank account to withdraw funds to. Stripe works well alongside Wise Business — you connect your Wise USD account details as the payout destination.
The bottom line
Open Wise Business first — it's faster, simpler, and covers most nomad use cases. Add Mercury when your business grows, when you need FDIC coverage, or when a US investor or client specifically requires it. Running both costs nothing and gives you complete flexibility.
Wise Business — multi-currency account for your LLC
Open entirely online from anywhere — no US address required. Mid-market exchange rates, 40+ currencies, local account details in USD, EUR and GBP.
Open Wise Business → Affiliate link — we may earn a commission at no extra cost to you.Mercury — FDIC-insured US business bank account
A real US bank account, opened fully online. No minimum balance, no monthly fees. Best when you need ACH, checks, or strong US banking credibility.
Open Mercury → Affiliate link — we may earn a commission at no extra cost to you.