Suggest US bank or EMI for US LLC

[StatiS]

I have already obtained EIN number but haven't received the actual letter from the IRS (just the fax).

I have no problem visiting the US for opening a bank account with a traditional bank. What banks would accept SMLLC with EU citizen as UBO? Business is ecommerce, digital goods mainly US customers.

I will try with Mercury after I receive the letter with the EIN.

Also I prefer not to obtain ITIN as this would take months and I plan to visit US beginning of Jan.

Thanks!

 

[startfleetio]

Mercury is good. You can apply for Wise as well.

You don't need the ITIN to apply for Mercury or Wise.

 

[StatiS]

Yeah, right. I have applied for Wise already. What about traditional banks ?

 

[startfleetio]

Some traditional banks will need ITIN, some won't

 

[StatiS]

Can you point to those that don't? Maybe you have experience? We have citibank branch in our country, maybe they can help set it up more seamlessly.

 

[startfleetio]

Just ask your local citibank, they would probably be able to help. If you are a Citigold customer, it is even easier.

 

[fshore]

startfleetio said:
Just ask your local citibank, they would probably be able to help. If you are a Citigold customer, it is even easier.
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You mean for the llc? I highly doubt that.

BoA in new York require personal itin in addition to ein. Wells fargo doesn't require itin (last time checked in 2019).

 

[startfleetio]

No the

fshore said:
You mean for the llc? I highly doubt that.

BoA in new York require personal itin in addition to ein. Wells fargo doesn't require itin (last time checked in 2019).
Click to expand...

No, the Idea is to go to local Citibank at ask the account manager to put in a request to setup an account at Citibank USA.

 

[fshore]

startfleetio said:
No the

No, the Idea is to go to local Citibank at ask the account manager to put in a request to setup an account at Citibank USA.
Click to expand...

Maybe for personal accounts, but not for an llc.

 

[startfleetio]

fshore said:
Maybe for personal accounts, but not for an llc.
Click to expand...

It worked for HSBC Premier, Personal and Business. Not sure about Citibank, never dealt with them.

 

[fshore]

startfleetio said:
It worked for HSBC Premier, Personal and Business. Not sure about Citibank, never dealt with them.
Click to expand...

You mean that a foreign HSBC Premier member were able to open a US business account from another country? I assume that must have been a big business. It's theoretically possible. For example HSBC HK says that the company need to have a dedicated office in HK and a HSBC staff must go to the office to check it out. It's very difficult, even for a bigger HK company.
So to suggest that someone with a foreign HSBC or citibank account can open a US business account is misleading.

 

[startfleetio]

fshore said:
You mean that a foreign HSBC Premier member were able to open a US business account from another country? I assume that must have been a big business. It's theoretically possible. For example HSBC HK says that the company need to have a dedicated office in HK and a HSBC staff must go to the office to check it out. It's very difficult, even for a bigger HK company.
So to suggest that someone with a foreign HSBC or citibank account can open a US business account is misleading.
Click to expand...

No, it is not misleading. It certainly could be done, but of course the mileage will vary.

 

[StatiS]

Citibank refused me on the grounds that the LLC needs to be 1 year old.

 

[fshore]

StatiS said:
Citibank refused me on the grounds that the LLC needs to be 1 year old.
Click to expand...

The local (non US) branch?
Did they say anything about minium revenue?

 

[StatiS]

Yeah the local branch. Didn't mention anything about revenue.

Signed up for paypal and wise easily. Still waiting for Mercury confirmation.

 

[fshore]

StatiS said:
Yeah the local branch. Didn't mention anything about revenue.

Signed up for paypal and wise easily. Still waiting for Mercury confirmation.
Click to expand...

You mean PayPal US? They didn't ask for SSN? Did you chose sole proprietary or corporation tax status?

 

[StatiS]

I contacted customer service and after answering questions about volume of transactions they told me to put last 4 digits of my EIN in the textbox for SSN.

I wish ebay were that cooperative! They restricted my account until I get ITIN.

 

[fshore]

StatiS said:
I contacted customer service and after answering questions about volume of transactions they told me to put last 4 digits of my EIN in the textbox for SSN.

I wish ebay were that cooperative! They restricted my account until I get ITIN.
Click to expand...

Good to know! When I contacted them a couple of years back they insisted that they required a SSN, and wouldn't even accept a personal itin.

 

[OffshoreDurian]

StatiS said:
I contacted customer service and after answering questions about volume of transactions they told me to put last 4 digits of my EIN in the textbox for SSN.

I wish ebay were that cooperative! They restricted my account until I get ITIN.
Click to expand...

That's what I did with PayPal and it got approved. However as soon as I received $25, I got asked to send ITIN or SSN verification. So now my account is blocked”¦

 

[fredouille1973]

Hi all, small update on this thread. I guess there is no EMI in the EU working with US companies anymore ?