Business Banking Guide
EIN for Bank Account: Open a US Business Account (2026)
An EIN is your key to opening a US business bank account. Whether you are a non-resident forming a US LLC or a domestic founder launching your first company, you need an EIN to bank in the United States.
Short Answer
You need an EIN (Employer Identification Number) to open a US business bank account. Banks require an EIN to verify your business identity, comply with IRS regulations, and set up tax reporting for your account. Non-residents without an SSN can get an EIN through ein.so for $49 and then open accounts at banks like Mercury, Relay, or Wise, all 100% online without visiting the US.
Why Do You Need an EIN for a Bank Account?
100% of US banks -- over 4,500 FDIC-insured institutions -- require a TIN to open any business account. For business entities like LLCs, corporations, and partnerships, that TIN is your EIN. Without an EIN, no legitimate US bank will open a business checking or savings account for you.
Why Banks Require an EIN
The bank uses your EIN to report interest income and other tax-relevant information to the IRS. It also serves as the primary identifier on your account, linking your business banking activity to your business entity. This separation between personal and business finances is essential for maintaining your LLC's liability protection and keeping clean books.
If you do not yet have an EIN, apply through ein.so to get one in as few as 7 business days (Express) or 14 business days (Standard). Once you have your EIN, you can immediately apply for a business bank account.
Best Banks for Non-Residents with an EIN
3 banks accept non-resident founders and allow 100% remote account opening with $0 minimum balance.
Banks Accepting Non-Resident EIN: Mercury vs Relay vs Wise
| Feature | Mercury | Relay | Wise Business |
|---|---|---|---|
| Monthly Fee | $0 | $0 | $0 |
| Minimum Balance | $0 | $0 | $0 |
| FDIC Insurance | Up to $5M (partner banks) | Up to $250K (Thread Bank) | Not FDIC (regulated by FinCEN) |
| Approval Time | 1-2 business days | 7 business days | 2-5 business days |
| Currencies | USD only | USD only | 40+ currencies |
| International Transfers | Wire ($5 domestic) | ACH only | Low-cost multi-currency |
| Best For | Overall best for startups | Budgeting and cash flow | International payments |
Mercury
Best overall for non-resident founders. Free business checking with no minimum balance. Instant virtual debit cards. Integrates with Stripe, QuickBooks, Xero, and dozens of business tools. FDIC insured up to $5M through partner banks.
Requirements: US LLC or Corporation, EIN, Articles of Organization, passport, proof of address.
Approval time: 1-2 business days.
Relay
Best for budgeting and financial organization. Free business checking with up to 20 individual checking accounts for categorizing funds. No fees, no minimums. Built-in profit-first banking methodology.
Requirements: US LLC or Corporation, EIN, formation documents, passport, business description.
Approval time: 7 business days.
Wise Business
Best for international transfers and multi-currency needs. Hold and convert 40+ currencies at the real exchange rate. Low-cost international wire transfers. US, UK, EU, and other local account details included.
Requirements: US LLC or Corporation, EIN, formation documents, passport, proof of address.
Approval time: 2-5 business days.
What Documents Do Banks Require with Your EIN?
EIN Confirmation Letter (CP 575 or 147C)
This is the official letter the IRS sends after assigning your EIN. It confirms your EIN, business name, and entity type. Every bank requires this document. ein.so delivers your EIN confirmation directly to you after we receive it from the IRS.
Articles of Organization / Certificate of Formation
This is the document filed with your state of formation (Wyoming, Delaware, etc.) proving your LLC or corporation legally exists. You receive this from your registered agent or the Secretary of State after forming your entity.
Operating Agreement (for LLCs)
Your LLC operating agreement outlines ownership structure, member responsibilities, and how the business is managed. Most banks require this even for single-member LLCs. If you formed your LLC through a service, they provide a template.
Valid Passport or Government-Issued Photo ID
Banks need to verify the identity of all beneficial owners (anyone owning 25% or more of the business). A clear scan or photo of your passport is sufficient for online applications. Some banks also accept national ID cards.
Proof of Business Address
A utility bill, lease agreement, or registered agent confirmation showing your business address. Your registered agent address in Wyoming or Delaware is usually acceptable. Some banks also accept your foreign address with supporting documentation.
How to Open a US Business Bank Account with an EIN
Form Your US LLC or Corporation
Register your business entity in a US state. Wyoming and Delaware are the most popular choices for non-residents due to favorable tax laws, strong privacy protections, and low annual fees. This gives you the legal structure banks require.
Get Your EIN from the IRS
Apply for your EIN through ein.so. We file Form SS-4 by fax with the IRS and deliver your EIN confirmation letter. Standard service ($49) takes 14 business days. Express service ($97) takes 7 business days. No SSN required.
Gather Your Documents
Collect your EIN confirmation letter, Articles of Organization, operating agreement, passport scan, and proof of business address. Have these ready before starting your bank application to avoid delays.
Choose Your Bank and Apply Online
Select Mercury, Relay, or Wise Business based on your needs. Complete the online application, upload your documents, and provide information about your business activities. The entire process takes 15-30 minutes.
Wait for Approval and Start Banking
Most applications are reviewed within 1-5 business days. Once approved, you receive your account details, routing number, and account number by email. You can immediately start receiving payments, paying vendors, and managing your business finances.
For a deeper look at everything you can do once you have your EIN, read our guide on what you can do with an EIN.
Business Checking vs Savings: Which Do You Need?
Business Checking: Your Operational Account
A business checking account is your operational account. 95% of small businesses open a checking account first. This is where you receive payments from clients, pay vendors and contractors, process payroll, and handle day-to-day expenses. Every business needs a checking account. It comes with a routing number, account number, and a debit card for purchases and ATM access.
A business savings account is for reserves, tax funds, and emergency capital. Not all businesses need a separate savings account immediately, but it is a best practice to set aside a percentage of revenue for taxes and unexpected expenses. Some banks like Relay let you create multiple sub-accounts within one checking account, effectively serving the same purpose.
Start with a business checking account. Add a savings account once your revenue is consistent and you want to earn interest on reserves. Both account types require your EIN to open.
Common Mistakes When Opening a Business Bank Account
5 mistakes cause 80% of business bank account rejections. The most common is applying before receiving the EIN confirmation letter.
5 Mistakes to Avoid
Using your personal bank account for business
This pierces your LLC's liability protection and makes tax filing a nightmare. Always open a dedicated business account with your EIN.
Applying before you have your EIN
Banks will reject your application without an EIN. Get your EIN first, then apply for the bank account. ein.so can have your EIN ready in 7 business days with Express service.
Choosing a bank that does not serve non-residents
Traditional banks like Chase, Bank of America, and Wells Fargo require an in-person visit and SSN. Stick with Mercury, Relay, or Wise for remote, non-resident-friendly account opening.
Not having your operating agreement ready
Many founders skip the operating agreement, but banks require it. Prepare your LLC operating agreement before you apply. Most LLC formation services include a template.
Mismatching the business name on documents
Your EIN letter, Articles of Organization, and bank application must all show the exact same business name. Even small differences (like missing 'LLC') can cause rejections.
Need an EIN for your LLC? Learn about EINs for LLCs or read our guide for non-residents.
Frequently Asked Questions
Can I open a US business bank account with just an EIN?
Yes, multiple US banks allow non-residents to open business bank accounts with an EIN and no SSN. Mercury, Relay, and Wise Business are the most popular options for international founders. You will also need your LLC formation documents (Articles of Organization), EIN confirmation letter (CP 575), operating agreement, and a valid passport or government-issued ID.
Which US bank is best for non-residents with an EIN?
Mercury is the top choice for most non-resident founders. It offers free business checking, no minimum balance, seamless online onboarding, and integrates with Stripe, QuickBooks, and other business tools. Relay is an excellent alternative with fee-free banking and intuitive budgeting features. Wise Business works best if you need multi-currency accounts and low-cost international transfers.
Do I need to visit the US to open a business bank account?
No. Mercury, Relay, and Wise Business all allow you to open an account 100% online from anywhere in the world. You complete the application online, upload your documents digitally, and receive your account details by email. No in-person visit to a US bank branch is required.
How long does it take to open a US business bank account with an EIN?
Application approval takes 1 to 5 business days depending on the bank. Mercury usually approves accounts within 1-2 business days. Relay and Wise may take 2-5 business days. After approval, you can start receiving and sending payments immediately through online banking.
Can I open a personal US bank account with an EIN?
No. An EIN is a business tax identification number and cannot be used to open a personal bank account. Personal accounts require an SSN or ITIN. If you need a personal US bank account as a non-resident, you will need to apply for an ITIN or visit a bank branch in person with your passport.
What documents do banks require to open a business account with an EIN?
Most banks require: (1) EIN confirmation letter (IRS Form CP 575 or 147C), (2) Articles of Organization or Certificate of Formation, (3) Operating Agreement for your LLC, (4) valid passport or government-issued photo ID of all owners, and (5) proof of business address. Some banks also require a brief description of your business activities.
Can I get a debit card with my US business bank account?
Yes. Mercury, Relay, and most US business banks issue physical and virtual debit cards linked to your business checking account. Mercury provides unlimited free virtual cards instantly and ships a physical card to your international address. Virtual cards are available immediately upon account approval.
Do I need an LLC to open a US business bank account?
While sole proprietors can open business accounts at some banks, most online banks that serve non-residents require a US-registered LLC or corporation. Forming a US LLC (most choose Wyoming or Delaware) gives you the legal entity needed to open a business bank account, get an EIN, and operate professionally in the US market.
Get Your EIN and Open Your US Bank Account
$49 Standard or $97 Express. No SSN required. Your EIN is the first step to US business banking.
Get My EIN for $49