US LLCs from Europe: Overcoming Banking Hurdles in 2026

Traditional US banks, including major players like Chase, Bank of America, and Wells Fargo, have tightened their Know Your Customer (KYC) regulations significantly. For European founders without a US SSN or a physical residence, opening an account is often impossible.

Most require an in-person visit to a branch, a US residential address, or an SSN/ITIN for all beneficial owners. These requirements are designed for US residents and complicate the process for non-resident LLC owners.

For European founders, Wise (formerly TransferWise) and Payoneer offer excellent initial solutions for managing US dollar transactions. Wise provides a US dollar bank account number and routing number, allowing you to receive payments from platforms like Stripe and PayPal.

Payoneer offers similar services, including a US Receiving Account. Both platforms are relatively easy to set up remotely, but they are not full-fledged US banks. They are primarily money transfer and payment receiving services, lacking features like checkbooks or credit lines.

Mercury Bank remains one of the best options for non-US founders seeking a proper US business bank account in 2026. Mercury is an FDIC-insured banking service specifically designed for startups, and they are generally more accommodating to non-resident owners.

To open a Mercury account, you will need your company's Articles of Organization and an EIN. The application process is entirely online, typically takes a few days, and requires clear scans of your passport and proof of address.

Regardless of the platform, certain documents are critical. You will need your LLC's Articles of Organization (or Certificate of Formation), an Employer Identification Number (EIN), and a valid passport for each beneficial owner. Some institutions may also request an operating agreement.

A US physical address is crucial for almost all applications, even for virtual providers. This is distinct from your registered agent address. Consider using a virtual office service for mail handling to fulfill this requirement.

An Employer Identification Number (EIN) is a must-have for any US LLC, especially for non-resident owners. It is required for opening a bank account, filing taxes, and processing payments. European founders can obtain an EIN even without an SSN or ITIN by using Form SS-4.

The application can be faxed to the IRS, or if you work with a service like Bastion Formations, they can handle the EIN application on your behalf, significantly speeding up the process compared to direct faxing.

KYC (Know Your Customer) and AML (Anti-Money Laundering) regulations are stringent. Banks must verify the identity of all beneficial owners. Expect requests for clear copies of passports, proof of address, and sometimes additional documentation like bank statements from your home country.

Be prepared for video calls or digital verification processes. Any discrepancies or unclear documents can cause significant delays or outright rejection of your application.