Opening a U.S. Bank Account for Foreign LLC: Top 5 Options for Indian Founders in 2025

If you’re an Indian founder running a global SaaS, e-commerce, or service startup, one of the biggest hurdles in scaling your business internationally is banking. Most U.S. clients, investors, and platforms (like Stripe, Amazon, or PayPal) prefer—or require—payments through a U.S. business bank account.

But here’s the challenge: opening a U.S. bank account for a foreign LLC isn’t always straightforward. Between SSN requirements, documentation hurdles, and compliance issues, many entrepreneurs end up confused about their best options.

The good news? In 2025, Indian founders have more choices than ever—ranging from fully digital banking solutions to traditional U.S. banks. This guide breaks down why you need a U.S. business bank account, the challenges you’ll face, and the top 5 options available today.

Why Indian Founders Need a U.S. Business Bank Account

Expanding your SaaS or service business to the U.S. is more than just marketing—it’s about financial credibility. Having a U.S. bank account linked to your foreign LLC helps you:

• Build trust with U.S. customers & investors – Clients feel more comfortable paying into a U.S.-based account.
• Access Stripe, PayPal & payment gateways – Many global platforms require a U.S. bank account.
• Save on transaction fees – Direct transfers instead of costly international remittances.
• Simplify compliance – Keeping U.S. revenues in a U.S. account makes tax filing easier.
• Manage payroll & expenses – Hire remote teams or U.S.-based contractors seamlessly.

For founders serious about scaling internationally, a U.S. bank account isn’t just nice to have—it’s essential.

Key Challenges in Opening U.S. Bank Account for a Foreign LLC

While it sounds simple, opening a U.S. bank account for a foreign LLC comes with real-world roadblocks.

• No SSN or ITIN
  Most U.S. banks ask for a Social Security Number (SSN). As an Indian founder, you won’t have one—but that doesn’t mean you’re locked out. Today, several online banks allow you to open a U.S. bank account without SSN using your EIN and incorporation documents.
• Proof of U.S. Address
  Banks typically need a U.S. mailing address. This can be handled through a registered agent, virtual office, or U.S. incorporation service.
• Document Requirements
  Be prepared with:
  • EIN (Employer Identification Number)
  • Articles of Organization (LLC formation docs)
  • Passport & ID proof of founders
  • Operating Agreement (sometimes required)
• Physical Presence Requirements
  Some traditional banks (like Chase or Bank of America) require you to show up in person. Online-only banks remove this barrier.

With the right banking partner, you can open a U.S. business bank account without SSN and without needing to travel.

Top 5 Options for Indian Founders in 2025

Here are the five best U.S. bank account options for foreign LLCs run by Indian founders in 2025:

1. Mercury Bank

• 100% online application, no need to visit the U.S.
• Supports international founders with just an EIN + company documents.
• FDIC-insured accounts with virtual & physical debit cards.
• Easy integrations with Stripe, PayPal, QuickBooks.
• Best for: SaaS startups, digital-first companies, and early-stage founders.

2. Wise Business (Borderless Account)

• Multi-currency accounts with local bank details in USD, GBP, EUR, and more.
• Low-cost international transfers.
• Great if you’re dealing with global clients.
• Not a traditional U.S. business bank account, but widely accepted by Stripe and PayPal.
• Best for: Founders needing flexibility across countries.

3. Traditional U.S. Banks (Chase, Bank of America, Wells Fargo)

• Strong reputation with investors and partners.
• Full-service banking (credit lines, loans, merchant services).
• But: Often require an in-person visit and U.S. address.
• Best for: Founders who can travel to the U.S. or plan to open a physical office.

Pro Tip: For 90% of Indian founders, Mercury the most practical choice.

Documents Required to Open a U.S. Business Bank Account

Before applying, make sure you have:

• EIN (Employer Identification Number) – It is required for tax purposes.
• LLC Formation Documents – Articles of Organization / Certificate of Incorporation.
• Passport & Government ID – For identity verification.
• U.S. Business Address – From a registered agent or virtual office.
• Operating Agreement – Some banks request it to confirm ownership structure.

Step-by-Step Guide: Opening a U.S. Bank Account for a Foreign LLC

Here’s a simple roadmap:

• Form a U.S. LLC – Delaware and Wyoming are the most popular for Indian founders.
• Get an EIN – Apply to get an EIN Number directly with the IRS (or via a CPA if you want it done faster).
• Choose Your Bank – Decide between online (Mercury) or traditional.
• Submit Documents Online – EIN, incorporation docs, passport, and address.
• Verification & Approval – Typically takes 2–10 business days.
• Activate & Start Using – Link Stripe, PayPal, or U.S. payment processors immediately.

Opening a U.S. bank account for a foreign LLC is now much faster than a few years ago—thanks to fintech platforms.

Cost, Fees & Hidden Charges to Watch Out For

• Minimum Balance – Some banks (traditional) may require $1,500+.
• Wire Transfer Fees – $10–$40 depending on bank.
• Foreign Exchange (FX) Fees – Especially relevant if you convert USD → INR.
• ATM Fees – Online banks may charge for out-of-network withdrawals.

Tip: Online-first banks like Mercury usually have no minimums and no monthly fees.

Compliance & Tax Considerations

A U.S. bank account makes your life easier, but it also means compliance responsibilities:

• FBAR Reporting – If foreign-owned LLC account balances exceed $10,000 at any point, they must be reported.
• IRS Filings – Even if you don’t owe tax, U.S. LLCs must file annual reports and IRS forms.
• Double Taxation Avoidance – The U.S.–India tax treaty helps prevent paying tax twice.
• Virtual CFO Services – Many founders hire cross-border CFOs to handle compliance, filings, and accounting.

Final Thoughts – Which Option is Best for Indian Founders?

If you’re an Indian founder looking at opening a U.S. bank account for your foreign LLC, here’s the summary:

• Mercury → Best U.S. online banks for LLCs, 100% remote, no SSN required.
• Wise → Great for global transfers.
• Traditional banks → Strong for credibility but usually require travel.

The best choice depends on your growth stage. For most SaaS, e-commerce, or digital founders, online banks are the fastest and most founder-friendly option in 2025.

FAQs on Opening a U.S. Bank Account for a Foreign LLC