Guide to Open a Bank Account in the U.S. in 2025

More and more companies and freelancers are looking to expand into new markets outside their home country. Many choose to open a bank account in the United States, as this allows them to:

• Conduct transactions in dollars without currency conversion
• Access financial platforms like Stripe
• Apply for financing and credit
• Enjoy lower taxes than in their home country

If you’re considering taking this step and don’t know how to start, don’t worry. In this guide, we’ll show you how to open a bank account in the United States in 2025, no matter where you are located.

What we’ll explain in this guide:

1. Whether you should open a personal or business account
2. Why choose a bank account instead of a digital wallet
3. Which digital financial services platform to choose
4. The requirements you must meet to open your bank account

Let’s get started!

Personal vs. Business Account

Personal Account

Opening a personal bank account at a traditional U.S. bank like Chase, Bank of America, or Wells Fargo requires meeting certain strict requirements:

• Be over 18 years old
• Have a valid passport
• Appear physically at the bank branch
• In many cases, have an SSN (Social Security Number) or ITIN

Business Account

On the other hand, opening a business bank account usually has fewer restrictions and can be done remotely through a digital financial services platform.

Advantages of a business account:

• 100% online opening
• No physical presence required in the U.S.
• Greater ease for commercial operations
• Clear separation between personal and business finances

For this reason, we recommend this type of account for small businesses and individuals looking to sell their products or services abroad. However, you must have a business registered in the U.S., such as an LLC.

Bank Account vs. Digital Wallet

Although digital wallets like Payoneer, PayPal, Wise, or AirTM may seem like an attractive alternative, a bank account offers significant advantages:

Advantages of a traditional bank account:

1. Greater credibility: Traditional banks offer more confidence to customers and suppliers
2. Complete financial services: Access to credits, credit lines, and other financial products
3. Diverse transfers: Allows sending and receiving:
   • ACH transfers
   • Wire transfers
   • SWIFT transfers
4. FDIC protection: Up to $250,000 (or more in some cases)
5. Platform integration: Better integration with Stripe, Amazon, and other commerce platforms

Limitations of digital wallets:

• Transaction amount restrictions
• Fewer financing options
• May have unexpected blocks or limitations
• Not always accepted by all providers

Choosing a Digital Financial Services Platform

To open a bank account in the U.S. remotely without being a resident, you must choose a digital financial services platform. These platforms function as online intermediaries between your business and a physical bank.

Main options in 2025:

1. Mercury Bank (Recommended)

   • Oriented toward digital businesses and startups
   • No maintenance cost
   • Physical cards shipped worldwide
   • FDIC insurance up to $5 million

2. Relay Financial

   • Ideal for small businesses
   • Multiple accounts at no additional cost
   • Requires U.S. address

3. Brex

   • Focused on funded startups
   • Credit lines available
   • Stricter requirements

We recommend and work with Mercury, which is oriented toward digital businesses, entrepreneurs, and freelancers, and allows you to open an FDIC-backed bank account.

Requirements to Open a Bank Account in the U.S.

Once you’ve decided on the digital financial services platform that best suits your needs, it’s essential to meet the necessary requirements. Below, we detail these requirements comprehensively:

1. Valid Passport

• Must be valid and current to verify your identity
• A clear digital copy of the passport is required
• In some cases, a recent selfie-type photo
• Passport must have at least 6 months validity

2. Business Registered in the U.S.

Your business must be registered in the United States, generally as:

• LLC (Limited Liability Company) - Most common and flexible
• Corporation (Inc) - For more complex structures

At ExpressFormations, we help you register your LLC and open a bank account at Mercury Bank quickly and efficiently.

3. EIN (Employer Identification Number)

The EIN is a tax identification number assigned by the IRS (Internal Revenue Service) to businesses in the United States.

Why is it important?

• Necessary to open any business bank account
• Required to meet tax obligations
• Identifies your business to the U.S. government

Processing time:

• With SSN/ITIN: Immediate (online)
• Without SSN/ITIN: 5-7 business days (by fax)

4. Optimized Digital Presence

Having a solid digital presence is important to demonstrate your business’s legitimacy:

• Active website: With clear information about your business
• Corporate email: Preferably with your own domain
• Social media profiles: LinkedIn, Facebook, Instagram according to your industry
• Clear business description: What you do, who you serve, how you generate income

5. Additional Required Information

Depending on the bank, they may also request:

• Basic business plan: Description of your business model
• Financial projections: Estimates of expected income
• Industry and business type: Some sectors have restrictions
• Country of operation: Where you primarily conduct your activities

Step-by-Step Process

Step 1: Register Your LLC

First, you need to establish your business in the U.S. The process typically takes 1-2 weeks.

Step 2: Get Your EIN

Once the LLC is registered, apply for the EIN from the IRS. Time: 5-7 business days.

Step 3: Prepare Your Documentation

• Scanned passport
• LLC Articles of Organization
• EIN letter
• Business information

Step 4: Apply on the Chosen Platform

Complete the online application with all required information.

Step 5: Verification and Approval

The bank will review your application. Typical time: 1-5 business days.

Step 6: Account Activation

Once approved, you’ll receive your account details and can start operating.

Important Tips

1. Be transparent: Provide accurate and complete information about your business
2. Maintain consistency: Information must match across all documents
3. Be prepared for questions: The bank may request additional information
4. Be patient: The entire process can take 2-4 weeks

Conclusion

Opening a bank account in the U.S. in 2025 is more accessible than ever for international entrepreneurs. With the correct business structure (LLC) and proper documentation, you can access the U.S. financial system and expand your business globally.

Take the leap toward new global opportunities. At ExpressFormations, we offer expert advice for forming LLCs in the U.S. Contact us now free of charge and we’ll provide guidance! Start expanding your business beyond borders.

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This article provides general information and does not constitute legal or financial advice. Requirements may vary depending on the bank and individual circumstances.