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Business Banking With EIN Guide

Complete guide to business banking for EIN holders. Best banks for non-residents and how to open accounts.

Last updated: June 2, 2026

You open a US business bank account with your EIN, your LLC formation documents, and a passport. The EIN is the federal tax ID that links your company to the US banking system. Non-residents use online banks like Mercury, Relay, and Wise that approve accounts remotely with no SSN. ein.so files Form SS-4 with the IRS and delivers your EIN by email for $49 (Standard, 4-7 business days) or $97 (Express, 2-3 business days).

A US business bank account turns an idea into an operating company. It gives you US account and routing numbers, ACH access, and a credible US identity for customers and platforms. Every US bank requires a business tax ID before it opens an account. For a US LLC, that ID is the EIN. This hub explains which banks accept non-resident LLC owners, what documents each one asks for, how to choose between them, and how to get the EIN that every account starts with. Use the guides below to open the right account on the first try.

Factor	Online Banks (Mercury, Relay, Wise)	Traditional Banks (Chase)
SSN required	No	Often yes
US visit required	No	Usually yes
EIN required	Yes	Yes
Approval time	A few business days	1-2 weeks
Best for	Non-resident LLC owners	US-based businesses
Monthly fee	$0 on most plans	Varies

Overview

What Does This Business Banking Hub Cover?

This hub covers how to open a US business bank account with an EIN, which banks accept non-residents, and how to get the EIN first. It links to step-by-step guides for Mercury, Relay, Wise, Chase, and Novo, plus payment platforms and bank comparisons.

Bank Account Guides

EIN for Bank Account — Complete guide to opening a US business account
Open Mercury Account With EIN — Best for non-residents, no SSN required
Open Relay Account With EIN — Free business banking for LLCs
Open Wise Account With EIN — Multi-currency business account
Open Chase Account With EIN — Traditional banking for US-based businesses
Open Novo Account With EIN — Free business checking
Best Bank for Non-Resident LLC — Full comparison

Bank Comparisons

Mercury vs Relay — Head-to-head comparison
Mercury vs Novo — Feature comparison

Payment Platforms

EIN for PayPal — Business account setup
EIN for Stripe — Payment processing
EIN for Payoneer — International payments

Quick Links

What Can You Do With an EIN? — Parent guide
Apply for EIN — $49

Why It Matters

Why Do You Need an EIN for a US Bank Account?

You need an EIN because every US bank requires a federal business tax ID before it opens a business account. The EIN identifies your LLC to the bank and to the IRS. Without it, no US bank will approve a business account for your company.

The EIN is a 9-digit number the IRS assigns to your business. Banks use it to verify your entity, run compliance checks, and report account activity. A personal account will not work for business income, because mixing funds breaks the liability protection your LLC provides. Here is what an EIN-backed bank account unlocks for a non-resident founder.

US Account and Routing Numbers

A business account gives you US account and routing numbers. These accept ACH payments, domestic wires, and direct deposits from US platforms that will not pay foreign accounts. See EIN for a bank account for the full setup.

Payment Processor Access

Stripe, PayPal, and Payoneer link to a US business account and EIN. This lets you bill US customers in dollars and settle without forced currency conversion. See EIN for Stripe and EIN for PayPal.

Clean Books for Tax Filing

A dedicated business account separates company funds from personal money. This makes annual filings like Form 5472 accurate and keeps your LLC liability shield intact.

Credibility With Customers

A US bank account and a US business identity build trust with American clients, marketplaces, and suppliers. It signals an established business, not a side project.

Compare Banks

Which US Bank Is Best for Non-Residents?

Mercury and Relay are the most-used banks for non-resident LLC owners because both open accounts fully online with no SSN. Mercury suits startups. Relay suits budgeting across multiple accounts. Wise adds multi-currency holding. Chase suits founders who can visit a US branch.

Each bank serves a different need. Compare the core differences before you apply, then read the dedicated guide for your choice. All five require an EIN. The online banks below approve most non-resident applicants within a few business days.

Bank	SSN Required	Multi-Currency	Best For	Guide
Mercury	No	USD focus	Startups, SaaS founders	Open Mercury
Relay	No	USD focus	Multi-account budgeting	Open Relay
Wise	No	Yes (40+ currencies)	International transfers	Open Wise
Novo	No	USD focus	Free checking, small business	Open Novo
Chase	Often yes	USD focus	US-based, in-person banking	Open Chase

For a deeper side-by-side, read Mercury vs Relay and Mercury vs Novo. For a ranked overview of every option, see best bank for non-resident LLC.

How To Choose

How Do You Choose the Right Bank for Your EIN-Backed LLC?

You choose by matching the bank to your business model. Pick Mercury for a US-focused startup, Relay for budgeting across sub-accounts, Wise for multi-currency operations, Novo for free no-frills checking, and Chase only if you can visit a US branch in person.

Work through these four questions in order. Each one narrows the field and points you to the right guide.

Will You Visit the US?

If you cannot travel to a US branch, rule out most traditional banks. Choose an online bank: Mercury, Relay, Wise, or Novo. All four open accounts remotely with an EIN and a passport.

Do You Hold Multiple Currencies?

If you collect euros, pounds, or other currencies, choose Wise. Wise holds 40+ currencies and converts at the mid-market rate. If you operate only in dollars, Mercury or Relay is simpler.

Do You Need Sub-Accounts for Budgeting?

If you separate funds for tax, payroll, and operations, Relay offers multiple sub-accounts. If you run a single operating balance, Mercury is cleaner.

Are Fees Your Priority?

If you want zero monthly fees on a basic account, Novo offers free business checking. Compare each bank's current terms before you commit, because plans change.

The common thread across all four steps is the EIN. No bank opens a business account without one. Get the EIN first, then apply.

Documents

What Documents Do You Need to Open a Business Account?

You need four documents to open a US business bank account: your EIN assignment letter, your LLC Articles of Organization, an Operating Agreement, and a valid passport. Some banks also ask for a business address and a short description of your activity.

Prepare every item before you apply. A missing document is the most common reason an application stalls. The table below maps each document to its source.

Document	What It Is	Where It Comes From
EIN letter (CP 575)	IRS confirmation of your 9-digit EIN	IRS, via ein.so for $49
Articles of Organization	Document that created your LLC	Your state's filing office
Operating Agreement	Internal LLC governance document	Your LLC formation provider
Passport	Government photo ID	Your home country
Business address	US or home address for the account	Registered agent or your address

The EIN is the document most non-residents lack. Apply through ein.so and receive the CP 575 letter by email. Then gather the rest and open your account. See EIN for a bank account for a document-by-document walkthrough.

Get Your EIN

How Do You Get the EIN That a Bank Requires?

You get an EIN by submitting IRS Form SS-4. Non-residents fax it to 855-215-1627 using a passport number on Line 7b, because the IRS online tool requires an SSN. The IRS charges $0. ein.so files it for $49 and delivers in 4-7 business days.

A non-resident without an SSN cannot use the instant IRS online tool. The fax method is the path that works. ein.so prepares the SS-4, faxes it, and emails your EIN letter. Choose the plan that matches your timeline.

Plan	Price	Processing	IRS Fee
Standard	$49	4-7 business days	$0
Express	$97	2-3 business days	$0

The Express tier suits founders who want a bank account open within two weeks. The Standard tier suits founders with more time. Read how to get an EIN for the full process, EIN without SSN for the no-SSN path, and the SS-4 form guide for line-by-line help. See EIN processing time to plan your banking timeline and EIN cost for a price comparison.

EIN vs ITIN

Do You Need an EIN or an ITIN for Banking?

You need an EIN for business banking, not an ITIN. The EIN is the business tax ID that online banks require. An ITIN is a personal tax ID for individuals who owe US tax. Mercury, Relay, and Wise open business accounts with an EIN and no ITIN.

The two numbers serve different purposes. Confusing them delays your account. The table below sets them apart.

Feature	EIN	ITIN
Who it identifies	A business entity	An individual person
Issued by	IRS via Form SS-4	IRS via Form W-7
Needed for business banking	Yes	No
ein.so price	$49 / $97	$197 / $297
SSN required	No	No

Most non-resident founders need only an EIN to bank, accept payments, and file Form 5472. Some need an ITIN later for personal tax matters. ein.so offers ITIN filing at $197 (Standard) or $297 (Express) if your situation requires it. Read EIN for non-residents to confirm which number applies to you.

After Banking

What Tax Filings Follow a US Business Account?

A foreign-owned single-member US LLC files Form 5472 with a pro-forma Form 1120 each year. The penalty for not filing is $25,000. This is an information return, not always a tax bill. Most US LLCs also report beneficial ownership to FinCEN.

Opening a bank account starts your operating life, and operating means compliance. ein.so handles the EIN and does not provide tax advice. Confirm your filing duties with a US CPA. The cards below outline the core obligations.

Form 5472 + 1120

File Form 5472 with a pro-forma Form 1120 annually if your single-member LLC has a foreign owner. The non-filing penalty is $25,000. Confirm the exact requirement with a CPA.

BOI Report to FinCEN

Most US LLCs report beneficial ownership to FinCEN. Review the BOI filing rules to stay current and avoid penalties. The filing itself is free at fincen.gov.

State Annual Report

Many states require an annual report and fee to keep your LLC active. Confirm your state's deadline and amount with your registered agent. A lapsed LLC can lose its bank account.

Keep Books Separate

Use the business account only for business funds. Mixing personal and company money weakens your LLC liability shield and complicates every annual filing.

Next Steps

Open Your US Business Account Step by Step

Get your EIN — ein.so files Form SS-4 by fax for $49 (Standard) or $97 (Express)
Pick your bank — Mercury, Relay, Wise, and Novo accept non-residents with no SSN
Open the account — submit your EIN letter, LLC documents, and passport
Set up payments — connect to Stripe, PayPal, or Payoneer
File your BOI report — required for most LLCs, free at fincen.gov
File Form 5472 — annually for foreign-owned LLCs ($25,000 penalty for non-filing)

Compare accounts: Mercury vs Relay | Mercury vs Novo. Learn the basics on EIN for non-residents, EIN without SSN, and what you can do with an EIN.

Apply for your EIN — $49

Frequently Asked Questions

Can I open a US business bank account with just an EIN?

You need an EIN plus your LLC formation documents and a passport. The EIN alone is not enough. Mercury, Relay, and Wise accept non-resident LLC owners remotely with an EIN, the Articles of Organization, an Operating Agreement, and a valid passport. No SSN and no US visit are required for these online banks.

Which US bank is best for non-resident LLC owners?

Mercury and Relay are the two most-used banks for non-resident LLC owners because both open accounts fully online with no SSN. Mercury suits startups and SaaS founders. Relay suits multi-account budgeting. Wise adds multi-currency holding. Compare options on the best bank for non-resident LLC page before you apply.

Do I need an SSN to open a US business bank account?

No. Online banks like Mercury, Relay, Novo, and Wise open business accounts for non-residents using an EIN, LLC documents, and a passport. Traditional banks like Chase usually require an in-person visit and may request an SSN or ITIN. Non-residents who bank remotely should choose the online-first options.

How do I get an EIN to open a bank account?

Apply online at irs.gov (instant, SSN required), by fax to 855-215-1627 (4-7 business days), or through ein.so for $49 (Standard) or $97 (Express). Non-residents without an SSN cannot use the IRS online tool. ein.so files Form SS-4 by fax using your passport number on Line 7b.

How much does an EIN cost?

The IRS charges $0 for an EIN. ein.so charges $49 (Standard, 4-7 business days) or $97 (Express, 2-3 business days) for filing assistance. There is no IRS fee at any tier. See the EIN cost page for a full breakdown of DIY versus assisted filing for non-residents.

Can non-residents get an EIN for banking?

Yes. Non-residents get an EIN by faxing Form SS-4 to 855-215-1627 with a passport number on Line 7b. No SSN or ITIN is required for the EIN itself. ein.so handles the full process for $49. The EIN then unlocks US bank accounts at Mercury, Relay, and Wise.

How long does it take to get an EIN before opening a bank account?

Online with an SSN: instant. Fax for non-residents: 4-7 business days. Phone: same day. Mail: 4-6 weeks. ein.so delivers in 4-7 business days (Standard, $49) or 2-3 business days (Express, $97). After approval, online banks open accounts within a few business days.

Do I need an ITIN to open a US business bank account?

No. An EIN is the business tax ID that online banks require, not an ITIN. An ITIN is a personal tax ID for individuals who owe US tax. Some traditional banks request an ITIN, but Mercury, Relay, and Wise do not. ein.so offers ITIN filing for $197 (Standard) or $297 (Express) if you need one.

What documents do I need to open a US business account with an EIN?

You need your EIN assignment letter (CP 575), your LLC Articles of Organization, an Operating Agreement, and a valid passport. Some banks request proof of business address and a brief description of your activity. Have these ready before you apply to avoid delays at Mercury, Relay, or Wise.

Does a foreign-owned US LLC have to file US taxes after opening a bank account?

Yes. A foreign-owned single-member US LLC files Form 5472 with a pro-forma Form 1120 each year. The penalty for not filing is $25,000. This is an information return, not always a tax bill. ein.so does not give tax advice; confirm your filing duties with a US CPA before your deadline.

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