US bank account for a foreign company
A foreign company can hold a US bank account in its own name: SelectUSA states there is no legal bar on foreign entities having US bank accounts, but each bank decides, and many require a US subsidiary. In practice a company registered abroad has four routes: a US bank account for the company itself, a US subsidiary, US account details from a fintech provider, or a dollar account at its bank at home. This guide compares them, sets out what US banks check on a foreign entity and lists the documents to prepare.
- SelectUSA states there is no legal bar on foreign entities having US bank accounts, but each bank sets its own policy and some require a US subsidiary.
- FinCEN's customer due diligence rule covers entities formed under foreign law, so a US bank must verify every individual who owns 25% or more of a foreign company and one controlling individual.
- Foreign entities use IRS Form W-8BEN-E to document their status for US withholding, and US banks commonly ask for it at account opening.
- A foreign company with no US office can obtain an EIN by calling the IRS on 267-941-1099; the online application is not available to international applicants.
- Airwallex's published list onboards businesses registered in Mexico and Brazil to its US entity, while Wise does not offer USD details to business accounts with an address in Bangladesh, Cameroon, China, Nigeria or Pakistan.
- A foreign company that registers to do business in a US state must still file a beneficial ownership report with FinCEN, but need not report US persons as owners.
Can a foreign company open a US bank account?
Yes. SelectUSA, the US government's investment promotion program, states in its banking checklist that there is no legal bar on foreign entities having US bank accounts. Whether a particular bank will open one is a matter of that bank's policy. Some banks require a US subsidiary, and others decide case by case on factors such as the company's country, ownership and business.
A foreign company here means a company incorporated outside the US: a Mexican S.A. de C.V., a Brazilian Ltda., a Hong Kong limited company or a UAE free zone company. The question it usually faces is not whether US banking is allowed, but which of four routes gives it a dollar account that US customers can pay easily, at a cost and level of paperwork that fits the business.
This guide is written for the company itself. If you are an individual founder setting up a new US entity, see our step-by-step guide to opening a US business bank account as a non-resident.
Four routes compared
The four routes differ in whose name is on the account, how US customers pay, and what the company takes on in the US as a result.
| Route | Account holder | How US customers pay | What the company takes on |
|---|---|---|---|
| 1. US bank account for the foreign company | The foreign company | ACH or domestic wire | Bank's onboarding of a foreign entity; often Form W-8BEN-E; sometimes an in-person meeting |
| 2. US subsidiary with its own account | A new US company owned by the foreign company | ACH or domestic wire | A second company with US tax filings; formation, EIN and account opening |
| 3. US account details from a fintech provider | The foreign company, with funds held at the provider's partner banks | ACH or domestic wire | The provider's country and industry rules; funds outside the bank deposit system |
| 4. Dollar account at the company's bank at home | The foreign company, at its local bank | International wire over SWIFT | Intermediary bank fees and slower arrival; home-country foreign exchange rules |
Source: Helm Editorial Team, from SelectUSA's banking checklist and providers' eligibility pages. As published on 29 October 2026.
Routes 1 to 3 give US routing and account numbers, so a US buyer can pay by ACH, the US batch transfer network used for most business payments. Route 4 does not. Our guide to the USD account for international business explains why that difference matters for how quickly and fully you are paid.
Which route fits which company
| Company | Route that usually fits | Why |
|---|---|---|
| Exporter collecting from US buyers, no US staff or stock | Route 3, or route 1 if a US bank will accept it | US details without a second company to run |
| Company opening a US office, warehouse or sales team | Route 2 | US contracts, payroll and leases sit naturally with a US entity |
| Trading company paying suppliers in USD across several countries | Route 3 alongside the home bank | Receive by ACH, pay by SWIFT, and keep local rules met at home |
| Company in a country that requires export proceeds to come home | Route 4, or another route only where local rules allow it | Local repatriation rules come first |
| Company with a large US banking need, such as credit lines | Route 1 or 2 with a full-service US bank | Lending and trade finance usually need a direct bank relationship |
Source: Helm Editorial Team. As published on 29 October 2026.
Many companies combine routes. A common pattern is US details for collections from US customers, a home bank account for local costs and taxes, and a subsidiary only once the US business is large enough to need one.
Route 1: an account for the foreign company itself
A US bank can open an account directly for a company formed abroad. US anti-money laundering rules expect it: FinCEN's customer due diligence rule defines a legal entity customer to include any similar entity formed under the laws of a foreign jurisdiction that opens an account. FinCEN is the US Treasury bureau that enforces those rules.
What the bank does
- Verifies the company using documents from its home registry, such as the certificate of incorporation and a recent register extract.
- Identifies the owners. It must identify and verify each individual who owns 25% or more of the company, directly or indirectly, and one individual with significant responsibility to control or manage it.
- Records an address. For a company, the identifying address is a principal place of business, local office or other physical location.
- Documents tax status. The IRS states that Form W-8BEN-E is used by foreign entities to document their status for purposes of chapter 3 and chapter 4, the US withholding rules. Expect the bank to ask for it.
Where it gets harder
SelectUSA's checklist notes that account opening in some cases requires an in-person meeting with the bank, attended by a designated officer with authority over the account, and that minimum deposits for foreign clients vary. Because the decision is the bank's, two banks can give different answers to the same company. Ask the bank's business or international desk directly, before you prepare anything, whether it opens accounts for companies registered in your country.
A foreign company with no US office does not need a US entity to obtain an EIN, the US federal tax number for a business. The IRS instructions for Form SS-4 let international applicants apply by phone on 267-941-1099, or by fax to 304-707-9471 from outside the US; the online application is not available to them.
Route 2: a US subsidiary with its own account
Forming a US company owned by the foreign parent opens the widest choice of US banks and fintech accounts, because many accept only US-formed companies. It also adds a second company to run.
| Stage | What happens | Published timing or rule |
|---|---|---|
| Formation | File formation documents with one state and appoint a registered agent | SelectUSA: documents can be processed within 24 to 48 hours |
| EIN | Apply to the IRS by phone, fax or mail | SelectUSA: could take two to three weeks if the signing officer is not a US citizen |
| Bank account | Apply with the subsidiary's documents and the parent's ownership chart | SelectUSA: normally takes around three weeks |
| Beneficial ownership reporting | Report owners to FinCEN under the Corporate Transparency Act | Companies formed in the US are exempt under FinCEN's March 2025 interim final rule |
Sources: SelectUSA banking checklist; Davis Polk, FinCEN eliminates beneficial ownership reporting requirements for U.S. companies. As published on 29 October 2026.
The bank still looks through the subsidiary to the parent and to every individual with 25% or more. A corporate chart that shows each layer, with the percentage held at each level, saves several rounds of questions.
A subsidiary is a US taxpayer with its own filings, so take US and home-country tax advice on how money will move between the two companies before you form it. A subsidiary makes most sense when the company will hire, hold inventory or sign contracts in the US, not only collect payments there.
Route 3: US account details from a fintech provider
Several payment and e-money providers issue US routing and account numbers in a foreign company's own name. The account is opened online, and the provider holds customers' dollars at partner banks. Eligibility is set by the provider's own list of countries of registration.
| Provider | What its own page states | Checked on |
|---|---|---|
| Airwallex | Lists eligible countries and territories of registration, including Mexico, Brazil, Hong Kong, India, Indonesia, the Philippines, Vietnam and the UK; businesses registered in Brazil and Mexico are onboarded to its US entity; applications from locations not listed cannot be processed | 29 October 2026 |
| Wise Business | USD account details are not available to business accounts with an address in Bangladesh, Cameroon, China, Nigeria or Pakistan | 29 October 2026 |
Sources: Airwallex, What country does my business have to be registered in; Wise, Can I get USD account details. As published on 29 October 2026.
Before you apply to any provider, check three things on its own pages: that your country of registration is listed, that your owners' countries of residence are accepted, and that your industry is not restricted. Then ask two questions in writing: are the US details in your company's name, and at which bank are the funds held?
Ask also how incoming payments are matched to you. With details unique to your company, a US customer's ACH payment arrives against your account number and needs no special reference. With pooled details shared by many customers, the payer must quote a reference, and a payment without one can be delayed while the provider identifies it.
A balance with a non-bank provider is not a bank deposit in your name. Protection depends on the provider's license and the rules of the country that licenses it, so ask for the provider's statement on how customer funds are held.
Route 4: dollars through your bank at home
Most countries allow companies to hold a dollar account at a local bank, subject to local foreign exchange rules. It is the simplest account to open, because the company already banks there. The limit is how US customers pay it.
A US customer pays a dollar account abroad by international wire over SWIFT, the messaging network banks use for cross-border payments. The payment passes through one or more correspondent banks, each of which can deduct a fee unless the payer sends it with the charge code OUR, which puts all fees on the sender. Under SHA, fees are shared and intermediary deductions come out of the amount; under BEN, the recipient pays them all. Arrival is slower than a domestic US payment, and the customer's accounts payable team has to set up an international payment instead of an ACH.
Local rules also matter. Some countries require exporters to bring export proceeds back to a local bank and, in some cases, to convert part of them into local currency. Check your country's rules before you hold export receipts anywhere else. Our country pages, such as the guide to a USD business account in Mexico, set out the local position, and our comparison of SWIFT, ACH and Fedwire explains the rails.
What US banks and providers check on a foreign company
Whichever route you choose, the same federal rules shape the review. Knowing what the reviewer must establish lets you answer before you are asked.
| Check | What it means | How to prepare |
|---|---|---|
| Beneficial owners | Each individual with 25% or more, directly or indirectly, plus one controlling individual | An ownership chart through every holding company to the individuals |
| Identity of non-US owners | A US taxpayer identification number, a passport number and country of issuance, an alien identification card number, or another photo government ID number | Passport copies that match the names on the company documents |
| Existence of the company | Official documents from the home registry | A recent register extract and certificate of incorporation, translated if not in English |
| Tax status | Form W-8BEN-E documents foreign status for US withholding | A completed and signed W-8BEN-E |
| Expected activity | What the account will be used for, and with whom | Monthly volumes in and out, main counterparties and their countries, sample invoices |
| Country and industry | Each provider's own lists | The provider's published eligibility pages |
Sources: 31 CFR 1010.230; FFIEC BSA/AML Examination Manual, beneficial ownership; IRS, About Form W-8BEN-E. As published on 29 October 2026.
If the company registers to do business in a US state, for example to open an office, it becomes a foreign reporting company for beneficial ownership purposes. Under FinCEN's March 2025 interim final rule, such companies must still file a beneficial ownership report, but they are not required to report US persons as beneficial owners.
Documents a foreign company should prepare
| Document | Notes |
|---|---|
| Certificate of incorporation and a recent company register extract | Issued by the home registry; certified translation if not in English |
| Articles of association or bylaws | Show the company's powers and who can bind it |
| List of directors and officers, or an incumbency certificate | Confirms who holds office now |
| Board resolution approving the account and its signatories | Names the people who can open and operate the account |
| Certificate of good standing | Confirms the company is active |
| Ownership chart to individuals with 25% or more | Every layer, with percentages |
| Two forms of ID for each owner and the company representative | At least one with a photo |
| Proof of address for owners | Foreign bank statements are preferred; utility bills may be accepted |
| Form W-8BEN-E | Documents foreign status for US withholding |
| EIN confirmation letter, if the company has one | Required by banks for tax reporting where an EIN is held |
| Evidence of the business | Website, contracts, invoices, and expected volumes |
Sources: SelectUSA banking checklist; IRS, About Form W-8BEN-E; 31 CFR 1010.230. As published on 29 October 2026.
SelectUSA's checklist notes that apostille requirements are uncommon but may apply in specific cases. An apostille is a certificate that authenticates a public document for use in another country. Ask the bank in advance which documents must be certified, apostilled or translated, because redoing a certified document from abroad can add weeks.
Where Helm fits
Helm is a financial technology company, not a bank. Accounts are held with regulated partner institutions. Helm follows route 3: it gives a trading company USD account details in its own name, with a routing and account number that receives ACH, Fedwire and SWIFT payments, without a US subsidiary. EUR details with an IBAN and GBP details with a sort code sit alongside.
- Collections from buyers abroad can be held in USD or converted.
- Suppliers can be paid by SWIFT or by local rails in their currency where available, with the rate, fee and expected arrival shown before sending.
- USDC and USDT can be received, sent and converted to USD inside the account.
- Supplier finance, receivables finance and working capital are arranged case by case.
Each account has a named account manager, and review questions are answered in writing within one business day. Eligibility depends on the country where the company is registered. Helm agrees pricing with each business in writing before the account opens, and shows the rate, the fee and the expected arrival before you confirm each payment.
Open a Helm account
USD, EUR and GBP accounts in your company's name, with a named account manager.
Open accountQuestions
Can a foreign company open a US bank account?
Yes. SelectUSA states there is no legal bar on foreign entities having US bank accounts, but each bank decides under its own policy. Some require a US subsidiary, some an in-person meeting, and some decide case by case.
Does a foreign company need a US subsidiary to get a US bank account?
Not always. A foreign company can open an account directly at a US bank that accepts foreign entities, or get US account details in its own name from a fintech provider that accepts its country. A subsidiary widens the choice of banks but adds a second company with US tax filings.
What is Form W-8BEN-E and why does a US bank ask for it?
It is the IRS form foreign entities use to document their status for purposes of chapter 3 and chapter 4, the US withholding rules. A US bank or payer asks for it to establish that the account holder is a foreign entity.
Does a foreign company need an EIN to open a US bank account?
Some banks ask for one. A foreign company with no US office can obtain an EIN by calling the IRS on 267-941-1099 or by faxing Form SS-4 to 304-707-9471; the online application is not available to international applicants.
What ownership information will a US bank ask for?
The bank must identify and verify every individual who owns 25% or more of the company, directly or indirectly, and one individual who controls it. For owners who are not US persons, a passport number and country of issuance is an accepted identification number.
Can a Mexican or Brazilian company get US account details without a US entity?
Yes, through providers that accept those countries. Airwallex's published list includes Mexico and Brazil and states that businesses registered there are onboarded to its US entity.
Do I have to visit the US to open an account for my foreign company?
Some banks require it. SelectUSA notes that account opening in some cases requires an in-person meeting with a designated officer. Fintech providers that issue US account details to foreign companies usually onboard online.
Does a foreign company have to file a beneficial ownership report with FinCEN?
Only if it registers to do business in a US state. Under FinCEN's March 2025 interim final rule, such foreign reporting companies must still file, but they do not report US persons as beneficial owners; companies formed in the US are exempt.
What documents does a foreign company need for a US bank account?
Expect a certificate of incorporation, a register extract, articles, a list of directors, a board resolution naming signatories, an ownership chart, two forms of ID per owner, proof of address, Form W-8BEN-E and evidence of the business. Documents not in English need certified translations.
Why is a dollar account at my home bank not the same as a US account?
A US customer can pay a US account by ACH or domestic wire, but must pay a dollar account abroad by international wire. International wires pass through correspondent banks that can deduct fees, and they take longer to arrive.
References
- SelectUSA (International Trade Administration): Banking checklist
- 31 CFR 1010.230: Beneficial ownership requirements for legal entity customers
- FFIEC BSA/AML Examination Manual: Beneficial ownership requirements for legal entity customers
- IRS: About Form W-8BEN-E
- IRS: Instructions for Form SS-4
- Davis Polk: FinCEN eliminates beneficial ownership reporting requirements for U.S. companies and U.S. persons
- Airwallex: What country does my business have to be registered in for opening an Airwallex account?
- Wise: Can I get USD account details?
This guide is general information for businesses, not financial, legal or tax advice. Rules, fees and timings were checked against the sources listed on the review date and may change.