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Are There Any Real Alternatives to Mercury Bank for Non-Resident US LLCs?

LosAngeles

LosAngeles

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#1
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Hello,

I've come across many posts mentioning alternatives to Mercury for US LLCs managed from abroad (non-resident LLCs). However, after trying several options, I’ve found that most don’t work or are not updated.

Here’s what I’ve experienced so far:
  • Relay Bank no longer accepts companies without a physical US address. The workaround of using a non-resident US address no longer works.
  • AirWallex, Brex, Levro and Novel were also not viable options.
The only bank I’ve successfully opened an account with is Wise, but its features are still somewhat limited.

I’d love to know if there are any other banks currently recommended for non-residents that are actually successful to open, also nice to be multicurrency. I’ve tried almost all the major options, investing a lot of time in the application process and consulting various websites, but with little success.

Thanks!
 
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#2
LosAngeles said:
Hello,

I've come across many posts mentioning alternatives to Mercury for US LLCs managed from abroad (non-resident LLCs). However, after trying several options, I’ve found that most don’t work or are not updated.

Here’s what I’ve experienced so far:
  • Relay Bank no longer accepts companies without a physical US address. The workaround of using a non-resident US address no longer works.
  • AirWallex, Brex, Levro and Novel were also not viable options.
The only bank I’ve successfully opened an account with is Wise, but its features are still somewhat limited.

I’d love to know if there are any other banks currently recommended for non-residents that are actually successful to open, also nice to be multicurrency. I’ve tried almost all the major options, investing a lot of time in the application process and consulting various websites, but with little success.

Thanks!
Click to expand...


There is no option anymore if you are startup

The US LLC came to end here

Mercury if it started doing like others then you have a company without any bank account
 
#3
Alexmorgan said:
There is no option anymore if you are startup

The US LLC came to end here

Mercury if it started doing like others then you have a company without any bank account
Click to expand...
:) I cannot agree. There are possibilities, see below ;)

LosAngeles said:
Hello,

I've come across many posts mentioning alternatives to Mercury for US LLCs managed from abroad (non-resident LLCs). However, after trying several options, I’ve found that most don’t work or are not updated.

Here’s what I’ve experienced so far:
  • Relay Bank no longer accepts companies without a physical US address. The workaround of using a non-resident US address no longer works.
  • AirWallex, Brex, Levro and Novel were also not viable options.
The only bank I’ve successfully opened an account with is Wise, but its features are still somewhat limited.

I’d love to know if there are any other banks currently recommended for non-residents that are actually successful to open, also nice to be multicurrency. I’ve tried almost all the major options, investing a lot of time in the application process and consulting various websites, but with little success.

Thanks!
Click to expand...
@LosAngeles ,
1) Unless you share what is your business and what you expect from your banking (payment destinations, currencies, turnover, ...), possibly together with your citizenship and residence, you cannot expect any well-founded advice; it all matters.
As an example, I believe that e.g. AirWallex is not a viable option for you, it's pretty possible – but generally, they are working, I witnessed some accounts to be opened there in the last time.

2) If you have tried just Relay, AirWallex, Brex, Levro and Novel then you definitely have not tried almost all the major options ;)
You can find various suitable options for a US LLC in discussions here https://www.offshorecorptalk.com/threads/us-neo-banks-list-for-non-residents-llcs.37438/, here https://www.offshorecorptalk.com/threads/mercury-trynovel-or-something-else.39329/ and especially here https://www.offshorecorptalk.com/th...ss-account-in-18-emis-heres-the-result.44434/
Have you read all of it? :)
In addition:
– especially for some use-cases, Bancoli can help as well (it's not mentioned above);
– it is worth looking here https://jamesbakercpa.com/packages (pay attention to No Travel VIP Bank Account - $2,500);
– @yngmind might be able to help in this situation, too, but only on certain circumstances; see here https://www.offshorecorptalk.com/th...-bank-account-for-your-us-llc-remotely.44841/
 
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#4
LosAngeles said:
Hello,

I've come across many posts mentioning alternatives to Mercury for US LLCs managed from abroad (non-resident LLCs). However, after trying several options, I’ve found that most don’t work or are not updated.

Here’s what I’ve experienced so far:
  • Relay Bank no longer accepts companies without a physical US address. The workaround of using a non-resident US address no longer works.
  • AirWallex, Brex, Levro and Novel were also not viable options.
The only bank I’ve successfully opened an account with is Wise, but its features are still somewhat limited.

I’d love to know if there are any other banks currently recommended for non-residents that are actually successful to open, also nice to be multicurrency. I’ve tried almost all the major options, investing a lot of time in the application process and consulting various websites, but with little success.

Thanks!
Click to expand...
You don't mentioned if you can travel to the US to open, or if it must be done remotely.
If you travel to the US there should be many options and different branches you can try.
 
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#5
Forester said:
:) I cannot agree. There are possibilities, see below ;)


@LosAngeles ,
1) Unless you share what is your business and what you expect from your banking (payment destinations, currencies, turnover, ...), possibly together with your citizenship and residence, you cannot expect any well-founded advice; it all matters.
As an example, I believe that e.g. AirWallex is not a viable option for you, it's pretty possible – but generally, they are working, I witnessed some accounts to be opened there in the last time.

2) If you have tried just Relay, AirWallex, Brex, Levro and Novel then you definitely have not tried almost all the major options ;)
You can find various suitable options for a US LLC in discussions here https://www.offshorecorptalk.com/threads/us-neo-banks-list-for-non-residents-llcs.37438/, here https://www.offshorecorptalk.com/threads/mercury-trynovel-or-something-else.39329/ and especially here https://www.offshorecorptalk.com/th...ss-account-in-18-emis-heres-the-result.44434/
Have you read all of it? :)
In addition:
– especially for some use-cases, Bancoli can help as well (it's not mentioned above);
– it is worth looking here https://jamesbakercpa.com/packages (pay attention to No Travel VIP Bank Account - $2,500);
– @yngmind might be able to help in this situation, too, but only on certain circumstances; see here https://www.offshorecorptalk.com/th...-bank-account-for-your-us-llc-remotely.44841/
Click to expand...

Xshore said:
You don't mentioned if you can travel to the US to open, or if it must be done remotely.
If you travel to the US there should be many options and different branches you can try.
Click to expand...

The list of banks in the previous post is outdated and not very helpful, so I’m creating a new post to see if anyone has an updated list or information on any banks that work for US LLCs owned by non-residents.

This question isn’t just for me—many friends who have LLCs are in the same situation. Some have just formed their LLCs, while others have had them for a while. Apart from Mercury, there doesn’t seem to be a good remote banking option available for non-resident owners.

While traveling to the U.S. to set up an account is possible, I’m really hoping to find a reliable remote option. The list of 18 banks is nice to have, but so far, Mercury is the only one that seems to work well.
 
#7
LosAngeles said:
Hello,

I've come across many posts mentioning alternatives to Mercury for US LLCs managed from abroad (non-resident LLCs). However, after trying several options, I’ve found that most don’t work or are not updated.

Here’s what I’ve experienced so far:
  • Relay Bank no longer accepts companies without a physical US address. The workaround of using a non-resident US address no longer works.
  • AirWallex, Brex, Levro and Novel were also not viable options.
The only bank I’ve successfully opened an account with is Wise, but its features are still somewhat limited.

I’d love to know if there are any other banks currently recommended for non-residents that are actually successful to open, also nice to be multicurrency. I’ve tried almost all the major options, investing a lot of time in the application process and consulting various websites, but with little success.

Thanks!
Click to expand...
What about Payoneer?
They hold accounts with biggest banks in the US like bank of America. Fees are low.
 
#8
relayfi.com
But you need to get an address, virtual address that is not flagged is fine. Registered agent won't do it
It would be best if you had a website and some proof of your nature of business like agreements, invoices etc

Mercury is getting more tough from what I've heard. They are closing some accounts and requiring more to open an account with then. I think it's because they have some headache with regulators tightening up
 
#11
LosAngeles said:
The list of banks in the previous post is outdated and not very helpful, so I’m creating a new post to see if anyone has an updated list or information on any banks that work for US LLCs owned by non-residents.

This question isn’t just for me—many friends who have LLCs are in the same situation. Some have just formed their LLCs, while others have had them for a while. Apart from Mercury, there doesn’t seem to be a good remote banking option available for non-resident owners.

While traveling to the U.S. to set up an account is possible, I’m really hoping to find a reliable remote option. The list of 18 banks is nice to have, but so far, Mercury is the only one that seems to work well.
Click to expand...
All I can say is that the reality which I am able to see differs. Some of EMIs from the list referenced above really work – for someone (as for the last weeks, I can confirm it for Airwallex and Zen, for example); but e.g. Mercury does not work for many, as they (mostly) want clients to have US operations.

Again: According to my experience, it all depends on circumstances – what is your business and what you expect from your banking, your citizenship and residence; and last but not least, how you present all of this.

Be advised that in my deep opinion, there is no (US-style ;) ) one-size-fits-all solution. This problem must be solved on the case-by-case basis. (A good advisor or introducer can help you many times. Probably the situation in the US becomes similar to CH or LI – in this context.)


Clearsky Network said:
What about Payoneer?
They hold accounts with biggest banks in the US like bank of America.
Click to expand...
True.
Clearsky Network said:
Fees are low.
Click to expand...
Are you serious? ;)

Clank said:
Check credit unions.
Click to expand...

ilke said:
Some examples? I presume a large majority of them will not be interested even in companies registered/headquartered out-of-state, let alone foreigner owned.
Click to expand...
I agree in principle and I have also never witnessed this; yet I can imagine that it might work in certain cases, e.g. having their clients as customers or if your agent helps you. Or even in some other case, the US are really a land of unlimited opportunities ;)

ilke said:
Or is the experience different?
Click to expand...
I also wonder...
 
#12
ilke said:
Some examples? I presume a large majority of them will not be interested even in companies registered/headquartered out-of-state, let alone foreigner owned. Or is the experience different?
Click to expand...
Federal credit unions will accept. Don’t want to mention which one I use here as some people will start using them for shady stuff and they might stop accepting non US residents or online applications.
 
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#13
Clank said:
as some people will start using them for shady stuff and they might stop accepting non US residents or online applications.
Click to expand...

Yes

When ever we recommend a banking service to public and mention how good they are

Shady or questionable people start to ruin it for us

It happened here with a US banking service that was offered here in the forum then they shutdown the program totally due to this
 
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#14
Clearsky Network said:
What about Payoneer?
They hold accounts with biggest banks in the US like bank of America. Fees are low.
Click to expand...
Payoneer has been an extremely frustrating platform for LLCs with non-resident owner, causing endless issues regardless of the transaction amount.

Forester said:
All I can say is that the reality which I am able to see differs. Some of EMIs from the list referenced above really work – for someone (as for the last weeks, I can confirm it for Airwallex and Zen, for example); but e.g. Mercury does not work for many, as they (mostly) want clients to have US operations.

Again: According to my experience, it all depends on circumstances – what is your business and what you expect from your banking, your citizenship and residence; and last but not least, how you present all of this.

Be advised that in my deep opinion, there is no (US-style ;) ) one-size-fits-all solution. This problem must be solved on the case-by-case basis. (A good advisor or introducer can help you many times. Probably the situation in the US becomes similar to CH or LI – in this context.)



True.

Are you serious? ;)




I agree in principle and I have also never witnessed this; yet I can imagine that it might work in certain cases, e.g. having their clients as customers or if your agent helps you. Or even in some other case, the US are really a land of unlimited opportunities ;)


I also wonder...
Click to expand...
This isn’t just my experience. It's based on feedback from a group of people with diverse businesses and residencies, all operating LLCs, who’ve faced similar problems.

Airwallex and Zen are no better. For example, Airwallex requires a utility bill from the last three months under the company’s name or that of a contracted warehouse, making it impossible to set up.
12345 said:
relayfi.com
But you need to get an address, virtual address that is not flagged is fine. Registered agent won't do it
It would be best if you had a website and some proof of your nature of business like agreements, invoices etc

Mercury is getting more tough from what I've heard. They are closing some accounts and requiring more to open an account with then. I think it's because they have some headache with regulators tightening up
Click to expand...
ipostal1 would works?
Clank said:
Federal credit unions will accept. Don’t want to mention which one I use here as some people will start using them for shady stuff and they might stop accepting non US residents or online applications.
Click to expand...
Are you referring to a bank whose name starts with "N"?
 
#15
LosAngeles said:
This isn’t just my experience. It's based on feedback from a group of people with diverse businesses and residencies, all operating LLCs, who’ve faced similar problems.
Click to expand...
:) As I have said, may be.

LosAngeles said:
For example, Airwallex requires a utility bill from the last three months under the company’s name or that of a contracted warehouse, making it impossible to set up.
Click to expand...
Apparently, anyone's mileage may vary. I have seen Airwallex onboarding a startup without such a document (they simply did not be able to possess it as it was a fresh startup), 2-3 months ago...
 
#16
I am getting a bit worried about, especially now with Trump...

I'm worried that my funds will get locked in my IBKR account when I don't have a US bank account to withdraw to.

Any good advice in this to have ways that I always can withdraw? Can I f.e. setup a bank account for my LLC here in Europe?
 
#17
johanmichel said:
I am getting a bit worried about, especially now with Trump...
Click to expand...
:oops: Would you mind to elaborate more why Trump can be expected to endanger a business (I mean real business, not some fancy/funny activity based on federal donations)?


johanmichel said:
Can I f.e. setup a bank account for my LLC here in Europe?
Click to expand...
For sure – e.g. Zen referenced above onboards US LLC with non-resident owners, I witnessed it. Yet I am really not convinced that having an account in EU(rope) implies safety being able to withdraw anytime, rather on the contrary ;)
 
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#18
Forester said:
:oops: Would you mind to elaborate more why Trump can be expected to endanger a business (I mean real business, not some fancy/funny activity based on federal donations)?



For sure – e.g. Zen referenced above onboards US LLC with non-resident owners, I witnessed it. Yet I am really not convinced that having an account in EU(rope) implies safety being able to withdraw anytime, rather on the contrary ;)
Click to expand...
Oh, believe me, I am far from naive. Of course I don't believe that the communistic EU means safety. On the contrary.
I am just trying to diversify risks.

About trump. Let me first state that I am against politics as a whole. I am not left or right-wing. I don't believe in such a dualistic model to begin with.

So what I am saying about Trump is not shaped by my biased opinion, but simply because of his protective goals. He wants America first, which will mean non-citizens last. Therefore I am worried of having my funds stuck in a US brokerage in the future if his protectionism becomes too extreme.
 
#19
johanmichel said:
Oh, believe me, I am far from naive. Of course I don't believe that the communistic EU means safety. On the contrary.
I am just trying to diversify risks.
Click to expand...
OK; well understandable.

johanmichel said:
I don't believe in such a dualistic model to begin with.
Click to expand...
Thumbs up!

johanmichel said:
So what I am saying about Trump is not shaped by my biased opinion, but simply because of his protective goals. He wants America first, which will mean non-citizens last. Therefore I am worried of having my funds stuck in a US brokerage in the future if his protectionism becomes too extreme.
Click to expand...
Oh well. I (hopefully) understand your position.

Yet in my opinion,
johanmichel said:
He wants America first, which will mean non-citizens last.
Click to expand...
this is a misinterpretation of his policy – in our context.

In my opinion, if you a) are not illegal non-citizen and even 2) are running some business that brings something to the US economics (as e.g. leaving some money with US brokers), you are safe – you even belong to the “America” that is to be put first.

But yeah, a big Donald T. is not well predictable :)
 
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#20
Forester said:
OK; well understandable.


Thumbs up!


Oh well. I (hopefully) understand your position.

Yet in my opinion,

this is a misinterpretation of his policy – in our context.

In my opinion, if you a) are not illegal non-citizen and even 2) are running some business that brings something to the US economics (as e.g. leaving some money with US brokers), you are safe – you even belong to the “America” that is to be put first.

But yeah, a big Donald T. is not well predictable :)
Click to expand...

It can indeed work out very well. There is even a chance that trump will get rid of all those absurd regulations.

But it can also be the opposite, since I never trust a politician. They all love to talk crap before the elections, but in the end it is all theatre and they are all controlled by the same powers behind the screen.

It just seems to me we entered volatile times, so it's probably a good time to buckle up and at least have a couple of backup (neo) banks.
 
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