Open a bank account in the United States

Opening a US bank account: personal and corporate

Opening a bank account in the United States is a strategic choice for anyone operating a US LLC, running an online business, or seeking access to the world's most robust and influential financial system. A US checking account allows you to operate in US dollars, receive and send international payments via SWIFT, make domestic transfers via ACH, and access advanced financial services unavailable elsewhere.

Opening a bank account in the United States is now one of the most frequent requests from non-resident foreigners, digital nomads, international entrepreneurs, and European and Latin American investors. Whether it's a personal bank account or a corporate bank account in the name of a US LLC, the process is structured, secure, and—with the right assistance—quick. For non-US residents, opening a US bank account represents the first concrete step toward operating in the US market.

A personal bank account in the United States requires the account holder to be physically present at a branch. A corporate bank account for a U.S. LLC can be opened remotely, provided that Studio Panama Italia acts as the LLC's trustee manager. Alternatively, the company member can appear in person at a branch to open the U.S. business account.

For non-US resident aliens, a US bank account also serves as an offshore account : consider whether an offshore bank account in a traditional jurisdiction is more appropriate for your situation based on the type of company and your wealth goals.

Why open a bank account in the USA?

Opening a bank account in the United States offers concrete advantages that no other banking system in the world can guarantee with the same combination of efficiency, security and accessibility:

• Operating a US LLC — A US bank account is essential for operating a US LLC . Due to FATCA, a US LLC will be unlikely to open an account outside the US unless the owner has a minimum capital of $1 million. No foreign bank wants to handle the US IRS compliance forms: FATCA, AML, and FinCEN are just the tip of the iceberg.
• Access to Financial Markets — A U.S. bank account gives you access to the U.S. stock market, trading, and investment platforms at top financial institutions around the world.
• Access to American Credit — By having a personal ITIN for personal accounts, or an EIN and ITIN for LLCs, you can build an American credit history and obtain real credit cards in as little as 2 months from opening your U.S. bank account.
• US dollar (USD) account — asset protection against inflation, high global purchasing power, especially in countries with weak currencies.
• Receiving international payments — The US account allows you to receive payroll, digital platform earnings (Stripe, PayPal), cryptocurrency cash-out proceeds, and payments from global customers.
• FDIC Security — Deposits at U.S. banks are guaranteed up to $250,000 per depositor by the Federal Deposit Insurance Corporation. Unlike fintech platforms like Wise or Revolut, a U.S. bank account at a regulated institution cannot be unilaterally closed for arbitrary reasons.
• Non-CRS Participation — The United States does not participate in the Common Reporting Standard (CRS), the automatic exchange of financial information system adopted by Italy and Europe. A U.S. bank account is not subject to the CRS and does not generate automatic reporting to European tax authorities. This non-CRS participation makes a U.S. bank account particularly attractive for those seeking operational confidentiality, while still complying with reporting requirements in their country of tax residence.

How to open a bank account in the United States

Opening a bank account in the United States is a structured process that varies depending on the type of account: personal or corporate. Every American bank offers modern, reliable, and fast services, fully compatible with major international networks. Studio Panama Italia provides direct intermediation with US banks and authorized fintechs, allowing non-residents to open a US bank account quickly and in full compliance with international regulations.

Personal bank account in the USA

To open a personal account in the United States—that is, a U.S. bank account in the name of an individual—the account holder must be physically present at a U.S. bank branch. Opening a personal account in the U.S. takes approximately 15–30 minutes. The documents required to open a personal U.S. bank account are:

• Valid passport
• Real physical address in the USA — PO Boxes are not accepted
• US phone number — for two-factor authentication
• ITIN — required by some American banks (Individual Taxpayer Identification Number)
• Initial deposit — starting from $150 in cash

For non-resident aliens who wish to open a personal U.S. bank account without traveling, you can obtain an ITIN with our remote service and proceed with opening a personal checking account at select institutions that accept non-resident aliens with a verified ITIN.

Corporate Bank Account for American LLC

Opening a corporate account in the United States—a bank account in the name of a U.S. LLC or corporation—can be done either in-branch or remotely. To open a U.S. corporate account in the name of your LLC, you'll need:

• LLC incorporated in the USA — formed through our corporate department
• EIN (Employer Identification Number) — issued by the IRS, with the name of the holder
• Operating Agreement — with the name of the LLC member or manager
• Certificate of Incorporation and Certificate of Organization
• NAICS Code — Business Classification Code, mandatory for all American banks
• Business address in the USA — the same as on the Certificate of Organization
• LLC Member ITIN — required by Chase, Bank of America, Choice Financial Group, and Wells Fargo starting in 2023

What you need to know to open a US bank account for your company

Opening a US corporate account for your company is now a simple, quick, and completely remote process. To open a US bank account in the name of your US LLC, the account holder's name does not need to appear in the Operating Agreement, nor does he or she need to be a member of the company: the account is opened as the LLC's manager, with full liability.

Studio Panama Italia opens US bank accounts for companies incorporated in any US state — Delaware , Wyoming , New Mexico , or Florida — directly at our banking locations in Miami Beach, Florida, and San Francisco, California, without the account holder having to travel.

We partner with several regulated US banks and fintechs, selected based on the client's profile and operational needs. The US corporate accounts we open include access to secured and unsecured credit cards, multi-currency accounts, and online platforms for trading, forex, and fund management. Opening a US bank account for an LLC is reserved for companies formed by our firm or for private clients with assets exceeding $50,000. Each US bank account is ready to go in just a few hours, with a verified EIN, physical and digital cards, and direct support in Italian from the selected US bank.

Bank account opening procedure for an American company, LLC or US Corporation

The procedure for opening a US bank account for a US LLC follows the following steps:

American Neobanks: Open a US Bank Account Online

When it's not possible or convenient to travel to the United States to open a bank account in a branch, American neobanks offer a valid and often comprehensive alternative for non-resident foreigners. Neobanks are new-generation banking institutions that operate primarily or exclusively online, characterized by:

• Fast US bank account opening and immediate approval response
• Opening a US bank account is completely online
• Significantly lower costs for maintaining, receiving and sending money than traditional American banks
• Multi-currency accounts with fast international remittance capabilities
• Greater transparency on commissions and procedures

Open a US bank account with Mercury

Mercury isn't just a neobank: it's a real bank account in the United States , operated by Choice Financial Group and FDIC-guaranteed. It's the only American bank account that can be opened entirely online, without traveling to the US, and offers the same features as a traditional bank like Bank of America.

Studio Panama Italia, through our American platform Expat Brokers LLC, has obtained a preferential procedure for quickly—often instantly—opening a Mercury USA bank account. The process is simple:

1. Open an LLC with Studio Panama Italia
2. Proceed to open a Mercury account using our referral link: https://app.mercury.com/r/expat-brokers-llc

The Mercury bank account offers credit cards that generate credit scores with US credit bureaus, allowing your LLC to build a corporate credit history in the United States. Millions of customers worldwide trust Mercury for its advanced banking solutions, technological security, and unconditional openness to European and international clients with US LLCs.

Features of a bank account in the United States

A checking account in the United States operates like any other bank account in the world: it receives funds in any currency and automatically converts them into USD before crediting. The main operating features of a U.S. checking account are:

• Online and app access — complete US bank account management from your smartphone
• Two-factor authentication — code sent to your US phone number (Google Fi recommended) or via email
• Account statements — available exclusively online in PDF format
• Debit card — issued upon account opening
• Credit card — available with registered ITIN, even for non-US residents with a US bank account

What is the SWIFT code and how does it work?

The SWIFT code (also known as BIC) is an international identifier that identifies the U.S. bank, its headquarters, and the operating currency of the receiving institution. It is used whenever an international transfer —that is, a transfer of money from a bank in one country to a U.S. bank or vice versa, outside the European SEPA area.

To receive an international wire transfer to a US bank account you need:

• Name of the beneficiary of the account in the United States
• SWIFT code of the American bank
• Beneficiary account number
• Indication of the commission distribution (shared, paid by the sender or the beneficiary)

How the ACH system works for domestic transfers

For transfers between bank accounts in the United States, the ACH ) system is used, the primary method of electronic funds transfer (EFT) in the US and throughout the Americas. The ACH system handles domestic transfers between any US bank account automatically and without human intervention. To make an ACH transfer from one US bank account to another US bank account, you need:

• Sender's US bank account
• Beneficiary's US bank account
• Beneficiary account number
• Routing Number — A 9-digit code that identifies the beneficiary's U.S. bank. Each bank has two routing numbers: one for electronic transfers (ACH) and one for manual transfers (wire).

The best US banks to open an account in

Studio Panama Italia has established direct referral relationships with two American banks, selected to offer the best options to clients wishing to open a bank account in the United States. Each American bank we work with guarantees dedicated assistance for non-resident foreigners:

Open a US bank account at Chase Bank with a promotion →

Open a US bank account at Mercury with a promotion →

Alternatively, contact us directly for assisted account opening: at Chase, we'll connect you with an Italian-speaking banker who will handle the entire process. For Mercury, our account opening service starts at $850.

SWIFT codes of major American banks

Frequently asked questions about opening a US bank account