How to Open a US Business Bank Account from the UK
Opening a US business bank account from the UK is entirely possible without flying anywhere, but the process trips up a lot of founders who apply before their paperwork is in order. Here is what actually works.
Can a UK founder open a US business bank account remotely?
Yes. Several US financial technology companies now onboard non-resident founders entirely online, including applicants based in the UK. You do not need a US visa, a US address of your own, or a trip to the United States. What you do need is a properly formed US LLC, an EIN (Employer Identification Number), and a consistent, verifiable paper trail that ties your identity to the business.
The catch is that 'remote-friendly' does not mean 'no questions asked'. Banks and fintechs doing business banking for foreign-owned LLCs have to run anti-money-laundering and know-your-customer checks, and they are cautious about certain business types and inconsistent applications. Most declines are avoidable once you understand what they are actually checking for.
What you need before you apply
- A formed US LLC. Wyoming, Delaware, and New Mexico are the common choices for non-US founders, with Wyoming being the most popular low-cost, private default. You will need your Articles of Organization or Certificate of Formation.
- An EIN from the IRS. This is your business's tax ID and almost every bank or fintech will ask for it before opening an account. Non-residents apply via Form SS-4, and because you will not have an SSN or ITIN, the IRS processes this by fax or mail rather than online, which typically takes a few weeks.
- A valid passport. This is your primary identity document for verification, often via a video call or a liveness check inside an app.
- A US business address. This is usually your registered agent's address or a virtual mailbox. Some providers accept this without issue, others want it to match the address on your formation documents exactly.
- A clear description of what your business does. Vague or overly broad descriptions ('consulting', 'e-commerce', 'trading') are a common reason for extra scrutiny.
Notice that an ITIN is not on this list. An ITIN (Individual Taxpayer Identification Number) is a tax processing number for people who need to file US taxes but are not eligible for a Social Security Number. It is not a prerequisite for business banking, though some founders get one anyway for other reasons.
Providers that accept UK applicants
Three names come up constantly for foreign-owned US LLC banking: Mercury, Wise, and Relay. They are not identical products, and picking the wrong one for your situation is a common cause of unnecessary friction.
| Provider | What it is | Good fit for | Notes for UK founders |
|---|---|---|---|
| Mercury | US business banking built for startups, with FDIC-insured partner banks | SaaS, tech, and venture-track founders who want a polished dashboard and virtual/physical cards | Application review considers business model and website; incomplete or thin online presence can slow things down |
| Wise Business | Multi-currency account with US account details, not a traditional bank | Founders who need to move money between GBP and USD frequently, or invoice clients in both currencies | Onboarding is usually fast for UK residents since Wise already operates heavily in the UK |
| Relay | US business banking with multiple sub-accounts and card controls | Founders who want to separate funds by purpose (tax, payroll, operating) inside one account | Tends to be more flexible on business types than some bank-led alternatives, but still excludes high-risk categories |
It is worth applying with more than one provider's requirements in mind even if you only plan to open one account, because your documentation needs to satisfy whichever platform you choose, and having a backup option ready saves time if the first application stalls.
Common reasons applications get declined or delayed
- Applying before the EIN exists. Some platforms will start a soft application without one, but full approval almost always waits on it.
- Mismatched details. The business name, address, and formation date on your application must match your Articles of Organization and EIN confirmation letter exactly. Small discrepancies get flagged.
- Restricted or high-risk business activity. Crypto, adult content, gambling, CBD, firearms, and certain money-services businesses are commonly excluded outright, regardless of how clean your paperwork is.
- No real business presence. A generic one-line description with no website, no LinkedIn, and no way to verify what the company actually does raises questions during review.
- Identity verification issues. A blurry passport photo, an expired document, or a video call from a noisy or unclear environment can cause a hold.
- Using a registered agent address inconsistently. If your formation documents show one address and your application shows another, expect a request for clarification at minimum.
Most declines are not about being a foreign founder. They are about incomplete or inconsistent information that any reviewer, human or automated, cannot easily verify.
What to do if you are declined
First, ask for the reason if it is not given automatically, some platforms will tell you and some will not. If you get a generic decline, work through this checklist before reapplying:
- Confirm your EIN letter (the CP 575 or a 147C confirmation) matches your LLC name and address exactly.
- Make sure your business has some visible online presence, a simple website and a professional email at your own domain go a long way.
- Reapply with a different provider rather than resubmitting to the same one immediately, since repeated declines can sometimes flag your profile further.
- Double check your business activity is not in a restricted category for that specific platform, since the list differs slightly between Mercury, Wise, and Relay.
- If your registered agent address caused confusion, consider a virtual mailbox that provides a proper street address rather than a PO box, since PO boxes are frequently rejected outright.
Remember the IRS filing obligation
Once your account is open, keep in mind that a foreign-owned single-member LLC has an annual US filing requirement even if the business had no income and even if the bank account never moved a dollar. You must file Form 5472 alongside a pro-forma Form 1120 each year. This is an information return, it does not calculate or trigger tax by itself, but missing the deadline carries a penalty of 25,000 dollars per late or unfiled return. This is separate from opening the bank account, but it is directly connected to the same EIN and LLC, so it should not be treated as an afterthought.
Doing it without the back and forth
The mechanics above are straightforward once you have done them, but most first-time founders lose weeks to mismatched paperwork, an EIN that took longer than expected, or a bank decline with no clear explanation. Founders Credit handles the full sequence for European founders remotely: LLC formation, EIN application, ITIN if needed, and getting the US business bank account and card set up correctly the first time, so you are not troubleshooting a decline while trying to launch.
Frequently asked questions
Do I need to visit the US to open a business bank account for my UK-owned LLC?
No. Mercury, Wise, and Relay all support fully remote onboarding for non-resident founders, including UK residents. Identity verification is usually done through a video call or an in-app liveness check rather than an in-person visit.
Do I need an ITIN to open a US business bank account?
No. An ITIN is a personal tax identification number for people who are not eligible for a Social Security Number, and it is not required for business banking. Business banking applications are based on your EIN and your LLC's formation documents, along with your passport for personal identity verification.
How long does it take to get an EIN as a UK resident?
Because you will not have an SSN or ITIN, the IRS processes your EIN application by fax or mail rather than instantly online, which typically takes a few weeks depending on IRS processing volumes. Applying accurately the first time avoids added delays from corrections.
Which US bank account provider is best for a UK founder?
It depends on what you need. Mercury suits tech and startup-style businesses wanting a full banking dashboard, Wise Business works well if you regularly convert between GBP and USD, and Relay is useful if you want built-in sub-accounts for separating funds by purpose.
What happens if my business bank account application gets declined?
Check whether your EIN letter, LLC formation documents, and application details all match exactly, ensure your business has a visible online presence, and confirm your business activity is not in a restricted category for that provider. If issues persist, applying to a different provider with corrected documentation is usually more effective than resubmitting the same application repeatedly.
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