Banking Guide
Open a Wise Business Account With Your EIN (2026)
Wise (formerly TransferWise) gives your US business a multi-currency account with USD and 40+ currencies, US account details, and low foreign exchange fees. Your EIN is the first requirement.
Wise is a regulated financial technology company used by millions of people and businesses worldwide. A Wise Business account gives your US LLC real US account and routing numbers, plus local details in other currencies, so you can get paid by US platforms and convert to your home currency at the mid-market rate. This guide covers the EIN requirement, eligibility for non-residents, the documents you need, and how to complete verification.
Eligibility
Can a Non-Resident Open a Wise Business Account With an EIN?
Yes. A non-resident can open a Wise Business account with an EIN, a registered US LLC or corporation, and a passport. Wise does not require an SSN, a US address for the owner, or a US visit. Verification is fully online.
Wise onboards founders from most countries. As of 2026, Wise does not open accounts for businesses in a short list of restricted and sanctioned jurisdictions, and some high-risk activities are excluded. You need a formal US entity with its own EIN. Form the company first, get the EIN, then apply to Wise.
Who Wise accepts
- Owners of US LLCs and corporations registered in any state
- Non-US residents from most countries (limited exceptions)
- Cross-border sellers, freelancers, agencies, and import/export businesses
- Businesses that receive payments in multiple currencies
Requirements
What Do You Need to Open a Wise Business Account?
You need 4 core items to open a Wise Business account as a non-resident. Wise verifies each item online.
| # | Requirement | Where it comes from |
|---|---|---|
| 1 | EIN and EIN confirmation letter | IRS — via ein.so for $49 |
| 2 | Articles of Organization (LLC) or incorporation | Your state's Secretary of State |
| 3 | Operating Agreement | Your LLC formation documents |
| 4 | Passport for each owner | Your home country |
Your EIN links the account to your US business for tax purposes. Wise matches your 9-digit EIN and legal business name against your formation documents. If the name on your EIN confirmation letter does not match, Wise pauses verification. Request a Letter 147C if you have lost your CP 575.
Step by Step
How Do You Open a Wise Business Account With Your EIN?
Opening a Wise Business account takes 5 steps and 2 to 5 business days of verification after your documents are ready.
Get Your EIN First
Prepare Your Documents
Create Your Wise Business Account
Complete Verification
Activate USD and Multi-Currency Details
Cost
How Much Does a Wise Business Account Cost?
Wise charges a one-time setup fee to activate account details and low per-transaction fees, with no monthly maintenance fee. Wise uses the mid-market exchange rate, which is cheaper than traditional banks for currency conversion.
| Item | Cost |
|---|---|
| One-time account details setup | Small one-time fee |
| Monthly maintenance fee | $0 |
| Minimum balance | $0 |
| Receiving USD via ACH | Free |
| Currency conversion | Low % at mid-market rate |
| International transfers | Low, transparent per-transfer fee |
The only EIN-related cost is the EIN itself. The IRS charges $0, and ein.so charges $49 (Standard) or $97 (Express) to file Form SS-4 for non-residents. See the full EIN cost breakdown.
Comparison
Wise vs Other Banks for Non-Residents
Wise is the best account for international and multi-currency payments. Compare it against the other non-resident-friendly options.
| Bank | Remote Opening | Multi-Currency | Monthly Fee | Best For |
|---|---|---|---|---|
| Wise | Yes | 40+ currencies | $0 | International payments |
| Mercury | Yes | USD focus | $0 | Startups, SaaS, tech |
| Relay | Yes | USD focus | $0 | E-commerce |
| Novo | Limited | USD only | $0 | US-based freelancers |
| Chase | No | USD only | $15 | Branch access |
Choose Wise if you get paid in several currencies and want the cheapest conversions. Many founders pair Wise with Mercury or Relay for daily US banking. Full ranking: best bank for non-resident LLC.
Benefits
Why Does Your US Business Need a Wise Account?
A US business account separates your company's money from your personal funds, which protects your LLC's limited liability. Wise adds what US banks cannot: a true multi-currency account with mid-market exchange rates.
Wise provides 6 concrete benefits for cross-border founders:
- 40+ currencies — Hold, receive, and convert USD, EUR, GBP, and 40+ currencies in one account.
- Mid-market rate — Convert currencies at the real exchange rate with a small, transparent fee.
- Local account details — Get US account and routing numbers plus local details in other regions.
- Low transfer fees — Send international payments far cheaper than traditional bank wires.
- Liability protection — A dedicated business account keeps your personal and company finances legally separate.
- Withdraw to home currency — Move USD earnings to your home bank at the mid-market rate.
Without a US business account, your LLC cannot receive USD payouts, pay global suppliers efficiently, or build a financial record. Opening one is the first operational step after formation.
EIN First
Why Do You Need an EIN Before Opening Wise?
You need an EIN before opening a Wise Business account for a US company because the account belongs to your business, and the IRS identifies your business by its EIN. Wise cannot verify a US business account without one.
Your EIN is your business's 9-digit federal tax ID, issued by the IRS in the format XX-XXXXXXX. Wise uses it to confirm your LLC is a registered taxpayer and to run anti-money-laundering and identity checks. See what an EIN is and why every LLC needs one.
US residents get an EIN online in minutes. Non-residents are blocked from the IRS online tool and must file Form SS-4 by fax, which takes longer and is easy to fill out incorrectly. A rejected SS-4 delays your account by weeks. ein.so prepares and files the form correctly for $49, so your EIN is ready before you start the Wise application. Learn how to get an EIN without an SSN.
After Approval
What Can You Do After Your Wise Account Is Open?
Once your Wise account is open, your EIN and US account details unlock cross-border payments. The account is the hub that connects US platforms to your home currency.
| Platform | What your Wise account enables |
|---|---|
| Stripe | Receive USD card payouts |
| PayPal | Link a US account for withdrawals |
| Amazon | Receive marketplace disbursements |
| Payoneer | Move balances between platforms |
| Global suppliers | Pay vendors in their local currency |
You can also hold revenue in USD, convert only when rates are good, and withdraw to your home bank cheaply. For the complete list, see what you can do with an EIN.
Compliance
Tax and Compliance Notes for Foreign-Owned LLCs
A foreign-owned US LLC with a Wise account has 3 federal compliance obligations. Opening the account does not create new taxes, but it does create records the IRS expects you to report.
Form 5472 + Pro-Forma 1120
BOI Report to FinCEN
Form 1099-K From Processors
This is general information, not tax advice. Confirm your specific filing requirements with a US tax professional.
Mistakes to Avoid
5 Mistakes to Avoid When Opening a Wise Account
Most delays come from preventable mistakes made before or during verification. Avoid these 5 to get approved on the first try.
- Applying before your EIN is in IRS records. A brand-new EIN can take up to 2 weeks to propagate.
- Using a name that does not match your EIN letter. Enter your legal business name exactly as printed on your EIN confirmation letter.
- Confusing personal and business accounts. Open Wise Business, not a personal account, for your LLC.
- Writing a vague business description. Name your products, customers, and the currencies you handle.
- Skipping document uploads. Provide formation documents and a passport for each owner during verification.
Fix these before you apply and Wise typically verifies your account within 2 to 5 business days.
Timeline
How Long Does the Whole Process Take?
The full timeline from EIN application to an active Wise Business account is 2 to 4 weeks for most non-residents. The EIN is the longest single step, which is why you start it first.
| Stage | Time |
|---|---|
| Form your US LLC | 1 to 10 business days (varies by state) |
| Get your EIN via ein.so | 7 business days (Express) or 14 (Standard) |
| Wise Business verification | 2 to 5 business days |
| Activate USD account details | Same day after verification |
| Receive first payout | Depends on the paying platform |
| Total | About 2 to 4 weeks |
You can shorten the timeline by ordering Express EIN service ($97) and preparing your formation documents while the EIN is processing. See the full EIN processing time guide for non-resident timelines by filing method.
Funding
How Do You Fund Your Wise Account?
You fund a Wise Business account by receiving payouts to your local account details or by topping up from your home bank, and there is no minimum balance. Wise is built to receive money in one currency and convert only when you choose.
Receive to Local Details
Top Up From Your Home Bank
Hold or Convert
Once funded, pay global suppliers in their own currency and keep records for Form 5472 and federal filing.
Next Steps
Get Your EIN, Then Open Your Wise Account
The EIN is the requirement that takes the most time, so get it first. Non-residents file Form SS-4 by fax, and ein.so handles the paperwork, files with the IRS, and delivers your EIN by email for $49.
Related guides: EIN for bank account | Best bank for non-residents | EIN for non-residents | EIN for Payoneer | Open a Mercury account
Frequently Asked Questions
Do I need an EIN for Wise Business?
Yes. To open a Wise Business account for a US LLC or corporation and receive USD with US account details, you need an EIN. You provide your 9-digit EIN and your EIN confirmation letter during verification. Apply for your EIN at ein.so ($49) before you start the Wise application.
Can non-residents open a Wise Business account?
Yes. Wise accepts non-resident owners of US LLCs and corporations from most countries. You register your US company, provide your EIN and a passport, and complete online verification — no SSN and no US visit required. Wise does not serve a short list of restricted countries.
What documents do I need to open a Wise Business account?
You need your EIN confirmation letter (CP 575 or Letter 147C), your Articles of Organization, your Operating Agreement, a passport for each owner, and details of your business activity. Wise verifies everything online during onboarding.
How long does Wise Business verification take?
Wise verifies most business accounts within 2 to 5 business days, though some applications clear faster. Getting your EIN first is the slowest step for non-residents, so apply for the EIN before starting the Wise application.
Is Wise a bank and is it good for international payments?
Wise is a regulated financial technology company, not a bank, so balances are safeguarded rather than FDIC insured. Wise is the best option for international payments because it holds 40+ currencies and uses the mid-market exchange rate with low, transparent fees.
Can I use Wise with Stripe and PayPal?
Yes. Your Wise Business account provides US account and routing numbers, so you can receive payouts from Stripe, PayPal, Amazon, and clients in USD. You can also hold and convert other currencies at the mid-market rate, which is ideal for cross-border sellers.
Need an EIN for Wise? We Handle Everything.
Non-US resident? We file Form SS-4 with the IRS and deliver your EIN by email. Just $49 Standard or $97 Express.
Get My EIN for $49