For the complete documentation index, see llms.txt
For the complete documentation index, see llms.txt
Can I open a U.S. business bank account without a U.S. address or SSN?
You can open a US business bank account as a non-US founder with doola's support, and you do not need to be physically present in the US to do it. Bank requirements can still vary by provider. To get started, you generally need to complete the process in this order:
1. Form a US company first. Non-US founders typically need a US company before opening a US business bank account. doola can help incorporate your business in states like Delaware or Wyoming and provide your formation documents and a Registered Agent (RA) address for banking and legal purposes.
2. Get an EIN from the IRS. After formation, obtain an EIN (Employer Identification Number) - your business tax ID, usually required for the bank application.
3. Choose a bank that works for non-US founders. doola primarily recommends Mercury, a startup-focused digital banking platform offering FDIC-insured accounts that supports founders without SSNs or ITINs. If Mercury isn't a fit for your country or business, Slash is the next option, followed by Relay.
4. Use your RA address only where the bank allows it. Banks may accept it as your legal address, but they generally ask for a separate physical address where you run your business. Requirements vary by bank.
5. Prepare your verification documents: Certificate of Formation, EIN confirmation, Operating Agreement, founder ID (such as a passport), and optionally proof of business activity (website, invoices, or payment receipts).
6. Complete the application carefully, entering your company and founder details exactly as they appear on your legal documents.
7. Complete any extra verification the bank requests, such as a selfie or proof of address.
8. Wait for the bank's review and approval. Timing depends on the bank.
9. Access and fund your account once approved, via wire transfer, ACH, or payment processors like Stripe or PayPal.
10. Note that physical debit cards are usually shipped only to US addresses.
11. Stay compliant afterward: keep your RA address current, file annual reports, and keep accurate records for IRS reporting. doola can guide you through the full process - forming your company, getting an EIN, preparing documentation, and helping you fill out the bank application correctly. If you're comparing banking to payment processors, note that PayPal usually requires an SSN or ITIN, even though a bank like Mercury may not.