Julian Drago
November 3, 2025
When you’re considering doing business, investing, or opening a company in the United States, sooner or later a key question appears: how do you choose among U.S. banks, and which one is right for your situation? The U.S. financial system is one of the largest and most sophisticated in the world, with traditional banks, regional banks, and fully digital banks all competing for the same customers.
If you’re coming from another country, it’s normal to feel overwhelmed—unfamiliar names, different requirements, products that work in new ways, and the constant question of how all this fits with your business structure (for example, an LLC) and your tax responsibilities. That’s why, more than memorizing a list of U.S. banks, the important thing is understanding how the system works and which criteria help you make a smart decision.
U.S. banks form a wide ecosystem that includes, among others:
Most of these banks are insured by the FDIC (Federal Deposit Insurance Corporation), meaning eligible deposits are protected up to a certain limit per depositor and per institution. This is a crucial point for anyone who wants to keep funds in U.S. bank accounts.
Although big names usually draw the most attention, the reality is that you can find U.S. banks that fit almost any profile—from entrepreneurs opening their first LLC to bill clients, to companies managing payroll, business credit, or more complex investment products.
If you plan to build or already have a business structure in the United States, working with U.S. banks gives you several advantages:
You can pay and collect in dollars within the country, use local accounts, and send or receive domestic transfers efficiently.
Many corporate clients prefer to pay into U.S. bank accounts for reasons of speed, cost, and internal compliance.
Certain payment platforms work more smoothly when the business has a U.S.-based bank account.
Maintaining stable activity helps you qualify later for credit lines, business cards, or financing.
Banking under your company’s name keeps your books organized and reduces the risk of mixing expenses.
In practical terms, U.S. banks can be grouped into three categories:
These are the ones appearing in most rankings by assets and coverage. They typically offer:
For foreign entrepreneurs, these banks are useful if you want a highly recognized institution with extensive services, especially when your business grows and handles higher transaction volumes.
These operate in specific areas (like the Northeast, Midwest, or East Coast). Compared to national banks, they often offer:
They can be a great option if your business has operations or a customer base in a particular state.
These U.S. banks operate mainly or exclusively through digital channels. Their typical features include:
They are especially attractive for digital entrepreneurs or businesses without a physical presence.
Beyond the name of the bank, you should align your choice with your business needs and your status as a non-resident.
It’s not the same to open a personal account as a business account under an LLC. Before moving forward, clarify:
Each bank sets its own policies for clients living outside the U.S. These may vary:
Not all U.S. banks have the same openness to international clients.
Always review:
This matters even more if your business is in early stages.
For remote entrepreneurs, a solid app and easy transfer processes are essential.
If you sell online or operate internationally, choose U.S. banks that:
A common mistake is trying to open a bank account before having your U.S. business structure properly defined. The more efficient sequence is:
Doing it in reverse usually leads to delays, extra documentation requests, or outright rejections.
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Often yes, but it depends on the bank and your situation. Some allow remote onboarding if your business is formed and properly documented; others require physical presence.
Not legally, but highly recommended. It simplifies invoicing, payments, compliance, and financial organization.
No. Each bank has its own risk policies and documentation requirements.
It’s possible, but you lose advantages such as domestic USD payments, platform integrations, and clearer accounting separation. It may also complicate tax administration.
They follow compliance regulations and may report information when required. That’s why alignment between your structure and tax filings is essential.
Choosing among U.S. banks makes much more sense when your legal and tax structure is set up correctly. Opening a company without guidance—or navigating the banking system without understanding how the IRS will view you—can lead to delays or future issues.
At Openbiz, we help you from the beginning:
If you’re ready to formalize your presence in the United States, Openbiz can be your partner to do it safely, efficiently, and with full strategic clarity.
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