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4 Steps to Opening a Business Bank Account for Your LLC

Ineligible Business Address Types for Opening Bank Accounts Explained

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How to Open a Bank Account in the US for an LLC

So you have your LLC registered in the US and now you want to open a bank account.

Opening a business bank account in the US is easy, even if you’re not a resident. And good news for nomads; you can open a bank account for your LLC remotely. 

This article will walk you through the process of opening a bank account in the US. It boils down to four steps. Keep reading to find out how to open a bank account for an LLC.

Why Do You Need a Bank Account for Your LLC? 

If you have an LLC you need to open a bank account. It’ll save you from stress and headache.

Separate Your LLC’s Finances

Just like you, your business will make money and spend money. At the end of the tax year, you’ll have to calculate how much tax money you owe. You’ll do this by looking at what your business has made, what it has spent, and where. 

If you mix personal transactions with business transactions, you’ll complicate the process of filing your tax returns. 

Your accountant, or you, will have to go through all your transactions, trying to figure out which ones were business-related and which ones were personal. This is a lot of work, especially if you have a year’s worth of statements. 

Keeping your finances separate from your LLC is also important for limited liability. If you want to protect your assets, you shouldn’t entangle them with your business’ transactions. If, during a hearing at a court, it looks like you were not taking the necessary steps to separate personal finances from your LLCs finances, you might not be able to protect your assets. 

Easy Payments From US Based Clients (If you’re abroad)

You can receive payments from your US clients to your foreign bank account via a transfer or a payment gateway like Paypal. Either way, the fees will likely be high. Having a bank account in the USA will save you money in fees. It’ll also save your clients the hassle. They’ll be able to write you a check or transfer money directly. 

If you need to send money to a foreign bank account, make sure you choose a US bank account that offers low fees on international wires/ foreign transactions. 

Professional Appearance

If you’re a non-resident alien and you’re running your LLC remotely from somewhere else, your clients might not feel comfortable sending money to a foreign bank account. 

Having a US bank account will give your clients an additional sense of security and add to the credibility of your business. 

Develop Business Credit 

Last but not least, having a business bank account means that you’ll start to build credit for your business. Even if you’re not planning on taking any loans, business credit is useful in other situations. For example, some suppliers might want to check your business credit before entering into a contract with you.

This is also good for your credit score protection. Your LLC will be treated separately from you. So, even if your LLC’s credit rating turns bad, yours will stay unaffected. 

Steps to Opening a Business Bank Account for Your LLC

Step 1: Register Your LLC

If you haven’t already done so, you’ll have to incorporate your LLC. You can do this whether you’re a US resident or not. 

Read: How to Register a Company in the USA

The easiest way to register an LLC is to use a specialist service like this

Step 2: Get an EIN

You’ll need an EIN to open a business bank account for your LLC. It’s like a tax identification number, but for your business. Your bank will ask you for the EIN before opening an account for your LLC.

How to Apply for an EIN – Read Here

Step 3: Choose a Bank

This is an important step, so take your time. You want to make sure that your bank is going to match your needs.

For example, if you’re doing a lot of international transactions, you’ll want a bank that doesn’t charge ridiculous fees on foreign transactions.

The Best US Banks for International and Foreign Transactions: Read Here

For non-resident aliens or remote business owners, we recommend using mercury.com or wise.com. Both of these banks allow you to open a bank account remotely. 

Step 4: Open the Bank Account!

You can either do this in person, at a chosen branch or remotely with certain banks.

You’ll have to have the following documentation to open a business bank account for your LLC: 

  • Articles of Incorporation for your LLC;
  • Your EIN Number; and
  • An Operating Agreement for your LLC. 


Opening a business bank account for your LLC is a smart business move. It helps with liability protection, payments, and credit.

The good news is that it’s easy to do, as long as you have all the correct documents. You can even do it remotely!

Register Your LLC with businessanywhere.io

About Author

Picture of Rick Mak

Rick Mak

Rick Mak is a 30-year veteran businessman, having started, bought, and/or sold more than a dozen companies. He has bachelor's degrees in International Business, Finance, and Economics, with masters in both Entrepreneurship and International Law. He has spoken at hundreds of conferences around the world during his career on entrepreneurship, international tax law, asset protection, and company structure. Business Anywhere Editorial Guidelines

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