Banking Guide
Mercury vs Relay Guide
Mercury and Relay are the two most popular banks for non-resident LLC owners. Both offer $0 fees.
Overview
Mercury vs Relay Overview
| Detail | Information |
|---|---|
| Bank | Mercury vs Relay |
| Fees | Both free, feature comparison |
| Non-resident friendly | Limited (may require in-person) |
| EIN required | Yes |
| Documents needed | EIN, LLC docs, passport |
Requirements to Open
- EIN — Apply through ein.so ($49)
- LLC documents — Articles of Organization from your state
- Operating Agreement — LLC governance document
- Government ID — Passport or driver's license
- EIN confirmation — CP 575 or Letter 147C
For Non-Residents
Non-Resident Banking
The best banks for non-resident LLC owners:
| Bank | Remote Opening | Monthly Fee | Best For |
|---|---|---|---|
| Mercury | Yes | $0 | Startups, tech |
| Relay | Yes | $0 | E-commerce |
| Novo | Yes | $0 | Freelancers |
| Wise | Yes | Low | International payments |
| Chase | No | $15 | Branch access |
Step 1: Get Your EIN First
You cannot open a business bank account without an EIN. Apply now — $49
Related: EIN for bank account | Best bank for non-residents | EIN for non-residents
Frequently Asked Questions
Do I need an EIN for Mercury vs Relay?
Yes. All US business bank accounts require an EIN. Apply for your EIN at ein.so ($49) before opening your Mercury vs Relay account.
Can non-residents open a Mercury vs Relay account?
Depends on the bank. Mercury, Relay, and Wise accept non-resident LLC owners remotely. Traditional banks (Chase, Bank of America) typically require in-person visits.
What documents do I need?
Typically: EIN confirmation (CP 575 or Letter 147C), LLC formation documents (Articles of Organization), Operating Agreement, government-issued ID (passport).
How long does account opening take?
Online banks (Mercury, Relay): 1-3 business days. Traditional banks: same day (in-person) to 1 week.
Is there a minimum deposit?
Most online banks have no minimum deposit. Traditional banks may require $100-$1,500 initial deposit.
Need an EIN? We Handle Everything.
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