Cheque payments for an LLC where to deposit?

[stivemoose]

Hello everyone,

I'm seeking some valuable advice from the community regarding the challenge I'm facing in opening a bank account for my LLC in Wyoming as a non-resident alien. Unfortunately, my previous applications with Mercury and Relayfi were rejected, leaving me in search of alternative banks that cater to non-resident individuals.

I would greatly appreciate it if you could share your insights and experiences with any other banks that might be suitable for my situation. Specifically, I am looking for banks that:

1. Accept applications from non-resident aliens.
2. Allow remote account opening, considering my inability to physically visit a branch.
3. Enable the addition of a cheque remotely, as I have a cheque issued to my LLC.

Any recommendations or suggestions would be immensely helpful. Thank you in advance for your assistance!

 

[JackAlabama]

Why did they reject you? Especially relayfi, they seem pretty good.
You can try airwallex,︂ trynovdel, trulyfinancial...
novel supports cheques, you take pictures from the app with your phone to︃ upload to them.

 

[Sols]

Since you mention checks , I don't think you have any realistic US options. You‌ have already been denied by two of the most popular options with non-resident aliens. But‍ if you can find another way to open a US bank account with a similar⁠ type of challenger bank, you might be able to accept eChecks through something like PaySimple⁤ or SeamlessChex. But if we're talking about paper checks, I think you're out of luck.⁣

If you can, take payment by ACH, wire, PayPal, debit/credit card, or other popular payment⁢ method instead from your US customers.

You can cash US checks with some major international︀ banks. But it usually takes several weeks for them to clear and the fees are︁ very high. It's not good at all for your business' cash flow. However, if you︂ are an attractive enough client, you can open a business bank account with one of︃ these banks and cash checks.

 

[stivemoose]

AirWallex does not accept non-resident US LLCs⁠ without a physical presence in the state, such as a billing address. Additionally, I had⁤ a negative experience with TryNovel bank as they closed my account. Do you have any⁣ other idea?

TryNovel bank unexpectedly︉ sent me a check for an amount close to $10,000 without providing any explanation. I'm︊ unsure about what steps to take next. Since the check is issued under my name︋ and my LLC's name, is it possible to deposit it into another company owned by︌ different individuals?

I would appreciate any guidance or recommendations on a local bank also that︍ would be willing to accept and process this check, I've no ITIN. Also looking for︎ any international bank. Thank you in advance for any assistance you can provide.

 

[Sols]

No, banks will deny that.⁤ You would ideally cash it into an account that belongs to the your LLC, otherwise⁣ into an account that belongs to you. The bank you cash with will probably ask⁢ to see some proof that it's your LLC.

Look around for large international banks︃ where you live. HSBC, Deutsche Bank, Citibank, Standard Chartered, and so on. It's usually possible︄ to cash US checks with them even outside of the US. It will take a︅ long time to clear, since they have to send it to the US for clearing︆ there.

 

[stivemoose]

I said that becuase I︀ have some friends who are having LLC and Mercury that they could deposit, but of︁ course the issue is hat check is on my name....If was possibile to reverse to︂ them...

I have created a Relay account, and they have approved it. However, I'm disappointed︃ because the maximum limit for depositing a check is only $5,000. I requested them to︄ increase the limit, but they refused.

I'm considering forming another LLC with the same company︅ name but in a different state and attempting to open an account with Mercury. Do︆ you think this approach could be successful?

I've also heard that there are some banks︇ in Puerto Rico that accept nonresident US clients who have an LLC. Perhaps, there I︈ could find a bank that would accept my checks?

Another issue is the 180 day︉ limit on the check I think, what would be if I'll reach the limit?

Thank you.

 

[Alexmorgan]

Mercury accept Check but need to be written in your LLC name and it should‌ be made by US company

As its in your own name you need to go‍ to a real Bank and deposit or get cash from it

 

[Sols]

Maybe, but why would there be a check issued⁠ to the company from before the company was incorporated?

Most of those banks are not setup to process checks.

Then the check is invalid and you'll have to︂ ask TryNovel for a new one.

 

[stivemoose]

I don't have Mercury and I'm not able to open it, I've tried few⁤ times and I always got rejected.