There is no doubt that the United States is the best place for small startups for foreign entrepreneurs. Once you form your company in the US, you’ll want to look for a bank that offers remote-banking features and allows you to open an account without a trip to the branch.

Can Non-Residents Open a US Bank Account?

Yes, Non-Residents can legally open US bank accounts. In fact, Non-Residents can even open US bank accounts remotely from anywhere.

Must Read: Can I Open a Business Bank Account Without an EIN?

4 Benefits of Having a US Bank for Non-Residents

Before jumping into the competition, let’s look at some of the benefits of having a US Bank for Non-Residents.

  1. US banks offer low-cost US dollar bank accounts, making it easy and affordable for Non-Residents to conduct business in the United States.
  2. Some banks in the United States allow remote account setup for Non-residents, which means you can open your account from anywhere.
  3. US banks offer Non-Residents the convenience of receiving and making payments to and from American customers easily.
  4. Non-Residents can take advantage of several options that are not available to US residents, such as opening brokerage accounts in the US and investing in US investment products, as well as buying and selling Bitcoin and other crypto-currencies through US crypto exchanges.

5 Best US Banks for Non-Residents

Our team of financial experts has researched and found the best US banks for non-residents, which can be opened online with a few simple steps and offers a host of great features.


We ranked Mercury at the top of our list of the best US banks for Non-Residents. For startups and small businesses, Mercury’s online banking is there to help streamline cash flow.

Mercury offers a variety of features for small business owners like bank-level security, spend management, team collaboration and management tools, analytics tools, virtual cards, integration with payment gateways and accounting software, and much more.

Mercury Business Online Banking offers a complete line of business checking and business savings accounts and doesn’t charge any monthly fees or transaction fees, have no minimum opening deposit, or maintain balance requirements.

Related: Mercury vs Wise: Which is Best for your Business

Best for

Mercury is the best choice for small business owners interested in using a free online platform for their business banking and personal finances.



Brex offers small businesses a simple alternative to traditional banking—a bank account that can be accessed fully online. Brex customers enjoy unlimited transactions and other powerful features that make it easy for them to manage their finances.

Brex empowers you to manage your business finances with a suite of tools including a mobile app, free secure transactions, expense tracking and analytics, virtual cards, and integrations with Quickbooks, Slack, Gusto, and Expensify. 

Brex is free to use — no annual or account fees, and you won’t pay for employee cards. Plus, the card has no foreign transaction fee. That makes it great for business trips abroad.

Best for

Brex is the best option for online business owners. With brex, online business owners can easily connect their e-commerce sales platforms like Amazon, PayPal, Shopify, and Stripe to get paid fast.



Trynovel is a great alternative to traditional US banking. It enables numerous Powerful features that will help you to start, run, and grow your business.

These features include FDIC-insured bank accounts, top-notch security, access from anywhere globally, No minimum balance required, payouts in more than 130+ currencies, Virtual & Physical cards, and integration with multiple payment processors such as Stripe, Amazon, Paypal & Shopify.

Trynovel offers two plans, Standard and. If you’re just getting started, Novel Standard is the perfect fit for you. However, if you’re part of a growth team looking for a financial management solution that scales with your organization then our Plus plan is what you need to take your business to the next level.

Best for

If you are a foreign entrepreneur and are looking for a bank account that can be open remotely, Trynovel is the way to go.



Novo is a great alternative to traditional banking. Its features include online access from anywhere, Bank-level security, the ability to create and manage invoices, and integrations with top business tools like Slack, Stripe, Xero, QuickBooks making it the best US bank for Non-Residents.

Novo offers Unlimited transactions with no monthly fee, you just have to pay $50 as the minimum opening deposit requirement.

Best for

Novo is the best option for business owners who want to make their accounting easier by connecting their bank accounts to tools like Stripe and Quickbooks.


Wise (Formely TransferWise)

Wise is a great alternative to US banks for Non-Residents. Wise offers bank accounts in over 50 different currencies and has some of the most competitive exchange rates in the world.

Wise provides a suite of features for foreign entrepreneurs including low exchange rates, ease of use, extra-secure transactions, data protection, virtual cards, and integration with accounting software like Xero and Quickbooks.

Setting up a Wise account and depositing money is easy. There’s only one fee: £16/$20 to share money internationally, which can take 24 – 72 hours. You’ll pay a 1% charge for sending more than $100, £200, or 200€ abroad.

Best for

Wise is a good choice for people who want to save money when sending money internationally.


Conclusion (Which is Best)

In this guide, we’ve collected the best banks for non-residents. You can compare their features and decide which one is best for you.

If you want to open a US business bank account, you must first have a US-legal entity. A limited liability company costs less to start than other business structures and has more flexibility.

If you are interested in forming an LLC, visit and use the code “Blogreaders” to get a special discount.