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]

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
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]

Maybe for personal accounts, but not for an llc.

 

[startfleetio]

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

 

[fshore]

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 a︀ US business account is misleading.

 

[startfleetio]

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

 

[StatiS]

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

 

[fshore]

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]

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]

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]

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 ?