Business bank account for your LLC

Documents you'll need

• Filed Articles of Organization (or Certificate of Formation in Delaware/some states) showing the state has accepted your LLC.
• IRS EIN confirmation letter (CP-575) — or a 147c letter if you've lost the original.
• LLC operating agreement.
• Government-issued ID for every beneficial owner with 25%+ stake.
• Proof of US business address (your registered agent's address counts at most online banks).

Non-US founders

You don't need to fly to the US to open an account — but you do need a US-formed LLC and an EIN. Mercury and Wise Business are the two most common picks; both onboard fully online. See our non-US founder guide for the full setup path.

Why a separate account isn't optional

The legal term is "piercing the corporate veil." It's what happens when a court decides your LLC wasn't really separate from you personally and lets a plaintiff or creditor reach your personal assets — house, car, savings. Commingling funds is the #1 reason courts pierce. Other factors are inadequate capitalization, missing formalities, and using the LLC to commit fraud, but commingling is the one we see new founders blow.

"Commingling" means more than just one wrong charge. Run client payments through your personal Venmo and pay business expenses out of your personal checking, and you've handed a plaintiff's lawyer the argument that there is no real LLC — just you, with extra paperwork. Open the business account on day one, run every dollar through it, and pay yourself with deliberate transfers (owner's draw or W-2 salary if you S-elected).

Choosing between Mercury, Relay, Wise, and Brex

The four most-used online options solve different problems. Quick decision frame:

• Pick Mercury if you want one simple account, you process payments through Stripe/PayPal, and you want a clean API for engineering-built workflows. Also the most accessible pick for non-US LLC owners.
• Pick Relay if you want to use the "envelope budgeting" method natively — separate sub-accounts for taxes, payroll, operating expenses, owner draws — without juggling spreadsheets. Strong QuickBooks/Xero integration.
• Pick Wise Business if you invoice in EUR, GBP, AUD, CAD, or 40+ other currencies and want local account details in each. Wire and FX fees are a fraction of what US banks charge.
• Pick Brex once revenue is consistent and you want a corporate card with higher limits than personal-credit-based cards. Most useful past $25k–$50k/month in revenue.

Are neobanks actually safe? (FDIC, explained)

Mercury, Relay, and similar neobanks aren't themselves banks — they're technology companies that hold your deposits at FDIC-insured partner banks. Your money sits in a partner bank's account; FDIC insurance follows it there. Mercury currently sweeps deposits across multiple partner banks to extend coverage well past the standard $250,000 per depositor per bank.

What this means in practice: your funds are insured up to the limits the neobank publishes (often $3M+ via partner-bank sweeps), and in the unlikely event the neobank's parent company fails, your money is at the partner bank — you'd recover it directly. The arrangement is standard fintech infrastructure and used by most modern business banking products. Always verify current insurance terms on the provider's site before relying on a specific coverage number.

Application checklist

1. Confirm your state has accepted your LLC and you have the stamped Articles of Organization or Certificate of Formation.
2. Have your EIN confirmation letter (CP-575) ready as a PDF. If you lost it, request a 147c letter from the IRS — it works the same.
3. Sign your operating agreement, even if you're a single-member LLC. Banks ask for it; courts look at whether you have one.
4. Have a clear photo of each beneficial owner's government ID (passport for non-US founders; driver's license or state ID for US).
5. Decide on a US business address. Your registered agent's address works at most online banks; some traditional banks require a separate principal place of business.
6. Apply. Mercury and Relay typically approve in 1–3 business days; Wise can take 1–2 weeks; Brex requires more verification.

Common mistakes

• Applying before the EIN arrives

  Every US business bank requires the IRS-issued EIN. Don't apply with 'pending' — your application will be rejected and you'll start the KYC clock over.

• Using a personal account 'temporarily'

  Every transaction in a personal account is a commingling problem. Open the business account first; deposit first revenue into it.

• Mismatched name between formation docs and application

  The exact LLC name on your Articles must match the name on the application — including punctuation, 'LLC' vs 'L.L.C.', and capitalization. Mismatches trigger manual review.

• Skipping the operating agreement

  Single-member LLC owners often don't draft one, then can't open an account at banks that require it. Take 30 minutes to use a template; sign it.

• Non-US founders trying traditional banks

  Chase, BofA, and Wells Fargo are designed for in-person opening with a US ID. Use Mercury or Wise Business and stop wasting time.