Open a US business Bank Account as a Non-resident: Requirements and Benefits

Open a US Business Bank Account as a Non-Resident: Requirements and Benefits

The US dollar is the global standard for payments, investments, and partnerships, yet foreign business owners often face outdated hurdles just trying to open a simple bank account. For international entrepreneurs, freelancers, and growing startups, opening a U.S. bank account can feel like an impossible dream. Traditional banks ask for a Social Security Number (SSN), a U.S. address, and a mountain of paperwork.

Fortunately, platforms like Slash are rethinking what global banking looks like, making it possible for non-residents to open and manage US business accounts entirely online. Whether you’re in London, Lagos, or Lisbon, you can now send, receive, and hold USD through Slash’s Global USD Account, without any branch visits, or Social Security Numbers, or even U.S. address.⁴

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Welcome to Slash Guides!

Slash is a neobank operating on the belief that traditional banking makes zero sense for modern businesses. We know because we work with our users to provide fast, global, and actually helpful finance solutions, encompassing everything from cards, banking,¹ accounting, treasury,⁶ crypto, and more.

Whether you’re a young entrepreneur, a non-U.S. business, a small team, or anything else, your growth goals shouldn’t be shunted by arbitrary barriers to financial tools. Our digital-first, cost-efficient, all-in-one mindset is all about getting you up and running with the tools you need to be successful, including these guides.

Keep reading to learn how Slash can help your non-U.S. business operate in the U.S. today.

Benefits of Opening a US Bank Account as a Non-Resident

For founders operating across borders, having a US bank account unlocks flexibility and credibility. Here’s what that looks like in practice:

Get paid in USD. Receive payments directly from clients, platforms, or marketplaces without extra conversion fees.
Pay US vendors and contractors. Manage bills, subscriptions, and payroll faster and more reliably.
Build a US presence. A US checking account signals legitimacy to partners and platforms.
Hold funds in a stable currency. Don’t keep your cash just lying around; instead, keep your cash safe in USD, whether it’s in a checking or savings account.
Spend like a local. If applicable to your issuer, use your corporate credit or debit card for business purchases or travel expenses, anywhere.
Access everything online. Manage your account online, in one dashboard, from anywhere in the world, with full visibility into balances and transactions.

The right business bank account makes your operations smoother, your payments faster, and your life easier, leveraging technology to make financial transactions make sense.

Requirements to Open a US Business Bank Account for Non-Residents

Every financial institution has its own version of requirements, including documents you will need to provide to open an account. Whether you’re opening an account with a traditional bank or fintech, you expect to provide:

Valid passport or another government-issued form of ID (some accept a consular ID).
Business formation documents (LLC, Corporation, or Partnership). Slash makes it easier by making this an optional requirement to start your Global USD account.
Employer Identification Number (EIN) from the IRS, or local equivalent. Don’t have an EIN? Open a Global USD account with Slash without needing to provide one.
Proof of address, such as a utility bill or documentation from your registered agent.
Initial deposit, or a small amount to get the account started.

There may be variations in requirements beyond these. Traditional banks like Chase, Wells Fargo, or Bank of America often require in-person verification. Slash, on the other hand, handles verification entirely online; simply upload your documents, verify your identity, and get approved without a trip to the U.S.

Yes, you can, but how depends on where you bank:

Most traditional institutions still require a Social Security Number (SSN) or Taxpayer Identification Number (ITIN) to open an account. That works fine for US citizens and green card holders, but it excludes the rest of the world.

Slash, however, built the Global USD Account, a fully-compliant US business account that doesn’t require a personal SSN or ITIN, so you can access these funds without traditional barriers. You can apply online using your passport, business documents, and proof of address. No EIN or SSN required.

So yes, foreigners can open a bank account in the US. You just need to use the right platform.

What Are the Best US Banks for Non-Residents?

When it comes to opening a US bank account, you have two broad routes: traditional banks and modern fintech platforms. Both have value, but the experience and capabilities vary significantly.

Traditional Banks

Institutions like Chase, Wells Fargo, or Bank of America have long histories and broad service networks. But for non-residents, they tend to come with significant hurdles:

You’ll likely need to appear in person at a branch.
You may need a U.S. address and a Social Security Number
Approval times can be slow (and sometimes indefinite).
Fees can accumulate quickly, especially for foreign deposits and international transactions.

If your company already has a physical US office, these can still work. But for the majority of foreign founders, traditional banks remain a poor fit.

Fintech and Digital Banking Platforms

Fintech platforms like Slash are changing traditional barriers and financial tools. Slash offers the same financial access as traditional banks, sometimes more, but with speed, transparency, and borderless design.Slash was built by international entrepreneurs, for international entrepreneurs. The Global USD Account gives you direct access to the US financial system with no SSN, no EIN, no local address, no travel required.

Further, Slash’s all-in-one dashboard connects to your accounting software, supports real-time expense tracking, and enables multi-entity support from one dashboard. It’s a bank account that actually keeps up with global business.

Get Started with Slash for Your US Business Banking Needs

The Slash Global USD Account is designed for founders who operate across time zones, currencies, and continents. It’s not just a “bank account”; it’s a bridge to the US economy, one you can cross entirely online through a streamlined application.

With Slash Global USD, you get:

Open a US business account without an SSN, EIN, or in-person visit.
Access funds online and send payments globally through faster, easier, and cheaper stablecoin rails.
Hold USD securely.
Integrate with QuickBooks or your accounting platform for automated reporting.

Open your Global USD Account today and make US banking borderless 👉 slash.com.