I tried opening a US business account in 18 EMIs, here's the result

[thaowessuwan]

Some other neo banks that I didn't see mentioned in this thread:

https://www.novo.co/
Highbeam | Banking that helps brand owners make smarter decisions (Especially for people who are in the e-commerce business)

https://lili.co/
https://www.rho.co/

By far, the best option for me is Mercury. The customer service is exceptional and the app and website are great. The only disadvantage I see is the lack of multi-currency support.

Wise is a nice option too. I use it to pay to different freelancers around the world but the main problem is that it doesn't give any debit card to non-US residents, only virtual cards.

Payoneer has been good to me too, but they charge $1.50 per ACH transfer.

By the way, I would like to try Airwallex, but they declined my application. I wonder if there is any option to appeal or try to open it again.

Cheers.

 

[alley]

I have a US LLC, am non-resident in the US, and signed up to 18 different EMIs.

This is the result after a week:

1. 3S Money - Asked for $20 to process my application + it charges $100 a month for having the account open
2. Airwallex - Approved
3. Brex - Rejected because I have no venture capital (startup focused apparently)
4. Currenxie - Doesn't offer services to US businesses
5. Juni.co - Doesn't offer services to US businesses
6. Mercury - Application still pending
7. Novel - Application still pending
8. Payoneer - Wants the withdrawal account to be in the LLCs name (no point having the account then)
9. Paypal - Doesn't offer services to US businesses to non-residents
10. Paysera - Doesn't offer services to US businesses
11. Payset - Doesn't offer services to US businesses
12. Relay - Won't accept my proof of address because it's not in english. Support doesn't answer through e-mail
13. Revolut - Doesn't offer services to US businesses
14. Satchel - Asked way too many questions about where funds would come from, how much and where they would go to before even opening the account
15. Stratys - Doesn't offer services to US businesses
16. VertoFX - Application still pending
17. Wallter - Asked for 500 EUR to open the account
18. Wise - Approved

Hopefully this helps others in the future.

status update on successful opened bank accounts please?

 

[bountymounty]

@janet25 still around, have a few questions?

 

[Belfort]

status update on successful opened bank accounts please?

It ended up staying the same, since I didn't follow up on anything else after being approved for Airwallex.

@janet25 still around, have a few questions?

Sure.

 

[Nauru]

I have a positive experience with Mercury, Airwallex and Bancoli, which seems to not be mentioned on this list.

It is good to see an informative post like this.

Bancoli says the operator is Arative. This is a holding company for other services like Relabe, which provides payment services for advertising. Bancoli is backed by Olibank (You can see the similarity in the name too). This institution is a Puerto Rican IFE, that is owned by the same people. Bancoli also has some banking partners for SGD and MXN details. They are using government notes at $125M limits per account. They are not FDIC, but this looks like a solution that is even better.

Mercury is obviously reliable. It is around for a long-time. Reliable transfers, simple opening. 6-figures without any hiccups or questions.

Airwallex has so many banking partners which is interesting for global business. They are well regulated and also fall under FDIC in the US through Evolve Bank (same as Mercury).

The US is not a great jurisdiction, and I have not used it for business in some time. I like this approach to EMI-equivalents though, where there is bank backing and the accounts can still be insured.

 

[AdH]

By the way, I would like to try Airwallex, but they declined my application. I wonder if there is any option to appeal or try to open it again.

I am not sure about Airwallex; if you go trough airwallex.com for my experience all is more complicated, and with a level at today of only 25% of application approved. But using Airwallex.hk was always more ease, quick and with very high level of application approved. But this is only my experience.

 

[Belfort]

Regarding Airwallex, I know of a person with a company identical to mine who got rejected recently, so they might be more restrictive now.

 

[bubbledouble]

Regarding Airwallex, I know of a person with a company identical to mine who got rejected recently, so they might be more restrictive now.

People tend to forget that the owner of a company plays a role in the approval process. People from some countries are not accepted.

 

[catpower]

I have a US LLC, am non-resident in the US, and signed up to 18 different EMIs.

This is the result after a week:

1. 3S Money - Asked for $20 to process my application + it charges $100 a month for having the account open
2. Airwallex - Approved
3. Brex - Rejected because I have no venture capital (startup focused apparently)
4. Currenxie - Doesn't offer services to US businesses
5. Juni.co - Doesn't offer services to US businesses
6. Mercury - Application still pending
7. Novel - Application still pending
8. Payoneer - Wants the withdrawal account to be in the LLCs name (no point having the account then)
9. Paypal - Doesn't offer services to US businesses to non-residents
10. Paysera - Doesn't offer services to US businesses
11. Payset - Doesn't offer services to US businesses
12. Relay - Won't accept my proof of address because it's not in english. Support doesn't answer through e-mail
13. Revolut - Doesn't offer services to US businesses
14. Satchel - Asked way too many questions about where funds would come from, how much and where they would go to before even opening the account
15. Stratys - Doesn't offer services to US businesses
16. VertoFX - Application still pending
17. Wallter - Asked for 500 EUR to open the account
18. Wise - Approved

Hopefully this helps others in the future.

Great list, could you update it after 1 year, about the pending ones?

 

[Belfort]

Great list, could you update it after 1 year, about the pending ones?

It hasn't been a year, but a few months. As I said before, I ended up staying with Airwallex this whole time and have had 0 issues so far. The others I just gave up on, so maybe they're still waiting for me to provide them with more documentation. One of them, Novel, exit scammed, so I'm glad I didn't sign up with them. Novel is rated "Poor" with 2.7 / 5 on Trustpilot

 

[Forester]

@Belfort, I am really late to this particular party; but better late than never:
You did an extremely useful work by opening this thread, sharing your amazingly wide experience and hence motivating others to add something.
I have already referenced to this thread several times.
My input as of now can be just
– especially for some use-cases, Bancoli can help as well (it has not been mentioned, IIRC);
– it is worth looking here USA Expansion Packages (pay attention to No Travel VIP Chase Bank Account - $2,500);
– @yngmind is able to help in this situation, see here Mentor Group Gold - AD Thread! - I can help you to open a real US Corporate Bank Account for your US LLC remotely

 

[Belfort]

USA Expansion Packages (attn to No Travel VIP Chase Bank Account - $2,500);

I'm sorry, I don't know if James is a partner of this forum, but those prices are outrageous. You can do everything yourself when it comes to opening a US LLC and filing its taxes. The only thing you can't do is being a registered agent, which needs to be a U.S. person. If you can't do things yourself or don't want to bother trying, you can hire competent and certified professionals for 10x less what he charges.

 

[12345]

Hi, has anyone used Wallester Business for USA LLC? Personally I use Mercury and I really love it, no issues at all

 

[jafo]

it is worth looking here USA Expansion Packages (attn to No Travel VIP Chase Bank Account - $2,500);

I've refrained from mentioning James because I didn't want to be "judged" as helping James and circumventing the advertising policies.
James is a class act!
He's straight-up a wonderful & knowledgeable human being.

I'm glad you mentioned him. James has easily solved 100% of my issues without giving me ANY headaches!
I definitely recommend him.

PS. Who knows what will happen tomorrow, but as long as James keeps providing excellent service for major US banks that are politically connected and privileged, I see the future so bright that we may have to wear sunglasses even indoors!

 

[Forester]

I'm sorry, I don't know if James is a partner of this forum,

No, he is not. And I have no contacts with him, I have even never used his service as I have never needed it.

but those prices are outrageous. You can do everything yourself when it comes to opening a US LLC and filing its taxes. The only thing you can't do is being a registered agent, which needs to be a U.S. person. If you can't do things yourself or don't want to bother trying, you can hire competent and certified professionals for 10x less what he charges.

The issues you have just named you are really able to manage in some other way, in a reasonable quality for a lower price, I agree in full. I was pointing specifically at James's service offering No Travel VIP Chase Bank Account – and I am aware about no other possibility to manage this remotely, except the help of @yngmind which has been referenced, too.
(It is IMO well understandable when someone prefers an account with Chase over an account with a fintech; and travelling to the US to do it in person can be much more demanding than just paying 2-2.5 K USD. Of course, anyone's mileage may vary )

 

[bubbledouble]

offering No Travel VIP Chase Bank Account

what is that, you guys mentioning this a few times, I don't have a clue

 

[daisy70]

I have Revolut Business for my US LLC.

And I don’t live in USA.

I couldnt either, have an LLC and dont live in USA....how could you? any tip?

 

[Forester]

what is that, you guys mentioning this a few times, I don't have a clue

It means that James Baker claims to be able to introduce you to Chase in such a way that you can have a business and/or a personal account opened remotely. (And this account is apparently called No Travel VIP Chase Bank Account.) I have not tested it personally; but James Baker is not a scammer, on the contrary.

 

[Clank]

It means that James Baker claims to be able to introduce you to Chase in such a way that you can have a business and/or a personal account opened remotely. (And this account is apparently called No Travel VIP Chase Bank Account.) I have not tested it personally; but James Baker is not a scammer, on the contrary.

For a personal account with chase you need ITIN, confirmed by my Chase banker.

 

[TimeAttack]

Nice findings. But what happened to all those Pending application EMIs? They can't keep it like that forever.