How to open a multi-currency business bank account in the US (Step-by-step with Airwallex) – September 2025 checklist
Airwallex Editorial Team
Expanding your business into the US market means navigating complex financial requirements, currency conversions, and banking regulations. For founders and SMB finance teams, opening a multi-currency business account that handles USD transactions efficiently can make or break your American expansion strategy.
The US represents the world's largest economy, with its GDP making up 15% of the global economy. (Airwallex Global Account Guide) This massive market opportunity comes with equally significant financial complexity – from managing currency fluctuations to ensuring compliance with US banking regulations.
Traditional banks often require physical presence, extensive documentation, and charge hefty fees for international transactions. Modern financial platforms like Airwallex have streamlined this process, offering businesses the ability to open multi-currency accounts online and collect payments from global customers in their preferred currency. (Airwallex Multi-Currency Account Guide)
This comprehensive guide walks you through every stage of opening an Airwallex US account in September 2025, from entity eligibility requirements to receiving your local USD routing details. We'll share pro tips to avoid common delays and provide realistic timelines based on recent user experiences.
Why choose a multi-currency business account for US operations?
Operating in the US without proper financial infrastructure creates unnecessary friction and costs. Every currency conversion, international wire transfer, and cross-border payment chips away at your margins while adding administrative overhead.
Airwallex offers multi-currency accounts to receive funds, high-speed international transfers, multi-currency company and employee cards, expenses and reimbursement management, and automated accounts payable management. (Airwallex USD Account) This comprehensive approach eliminates the need for multiple banking relationships and reduces the complexity of managing international finances.
The platform allows businesses to eliminate unnecessary conversion fees by receiving payments in the same currencies that their customers pay in. (Airwallex Multi-Currency Benefits) For businesses expanding into the US, this means accepting USD payments directly without losing money on unfavorable exchange rates.
Key advantages of Airwallex's US account solution
Local USD routing details: Airwallex's USD account comes with local US bank and branch codes and a dedicated account number. (Airwallex USD Account Features) This means your US customers can pay you as if you're a domestic business, improving payment success rates and reducing processing times.
No hidden fees: Airwallex does not charge account opening fees, monthly maintenance charges, or minimum transaction requirements. (Airwallex Pricing) This transparent pricing structure helps businesses budget accurately and avoid surprise costs.
Multi-currency flexibility: The platform allows businesses to convert balances to different currencies in just a few clicks and review global transactions in a single view. (Airwallex Global Operations) This unified approach simplifies financial management across multiple markets.
Enterprise-grade security: Airwallex's system is secure and protected with end-to-end encryption and bank-level security. (Airwallex Security) Your financial data and transactions remain protected throughout the process.
Entity eligibility requirements for US accounts
Before starting your application, verify that your business structure qualifies for an Airwallex US account. The platform serves over 150,000 companies worldwide, but specific eligibility criteria apply for US market access. (Airwallex Global Reach)
Supported business entities
Airwallex accepts applications from various business structures, including:
Limited Liability Companies (LLCs)
Corporations (C-Corp and S-Corp)
Partnerships
Sole proprietorships with proper documentation
The verification process, also known as KYC (Know Your Customer), is a regulatory requirement for offering financial services to organizations and individuals. (Airwallex US Business Verification) This ensures compliance with US financial regulations and anti-money laundering requirements.
Industry considerations
Airwallex provides solutions for industries such as eCommerce and retail, professional services, travel, SaaS platforms, fintechs and financial services, software and technology, marketplaces, and wholesale and trade. (Airwallex Industry Solutions) However, certain high-risk industries may require additional documentation or face restrictions.
Required KYC and KYB documentation checklist
Proper documentation preparation significantly reduces approval timeframes and prevents common delays. Based on 2025 user experiences, incomplete or unclear documentation represents the primary cause of application delays.
Essential business documents
Airwallex requires specific documents for organizations to open an account if the business is registered in the US. (Airwallex US Documentation Requirements) The complete list includes:
Supporting Tax ID Documentation: Your Employer Identification Number (EIN) letter from the IRS or equivalent tax documentation proving your business's tax status.
Certificate of Formation or Incorporation: Official state-issued documents proving your business's legal existence and registration status.
Attestation of Beneficial Ownership: Documentation identifying individuals who own 25% or more of the business, including their personal identification and ownership percentages.
Supporting Business Documents: Additional materials that may include operating agreements, bylaws, or other governance documents depending on your business structure.
Individual verification requirements
Beneficial owners and authorized signatories must provide:
Government-issued photo identification (driver's license or passport)
Proof of address (utility bill or bank statement dated within 90 days)
Social Security Number or Individual Taxpayer Identification Number
Pro tips to avoid documentation delays
Ensure document clarity: Scan or photograph documents in high resolution with all text clearly readable. Blurry or partially obscured documents trigger automatic rejections.
Match names exactly: Beneficial ownership information must match exactly across all documents. Even minor spelling variations can cause delays.
Use current addresses: All address information should reflect current business and personal addresses. Outdated information requires additional verification steps.
Prepare backup documents: Have alternative forms of identification and proof of address ready in case primary documents face issues during verification.
Step-by-step online application process
The Airwallex application process has been streamlined for 2025, with most businesses completing initial submission within 30-45 minutes. Here's the detailed walkthrough:
Step 1: Initial business information
Start by visiting the Airwallex website and selecting "Open Account." You'll provide:
Business legal name and any trade names
Business registration number and state of incorporation
Primary business address and mailing address (if different)
Industry classification and business description
Estimated monthly transaction volume
Step 2: Beneficial ownership disclosure
Identify all individuals who own 25% or more of the business. For each beneficial owner, provide:
Full legal name and date of birth
Ownership percentage
Role in the business
Contact information
Step 3: Document upload
Upload all required documents using Airwallex's secure portal. The system accepts PDF, JPG, and PNG formats up to 10MB per file. Ensure documents are:
Complete and unedited
Clearly legible
Current and unexpired
Properly oriented (not sideways or upside down)
Step 4: Account configuration
Select your desired account features:
Primary operating currencies
Expected transaction types and volumes
Integration requirements (if applicable)
Additional services like corporate cards or payment processing
Airwallex allows users to create Global Accounts in over 20 currencies located in more than 10 countries/regions, collecting locally from over 60 countries/regions. (Airwallex Global Account Currencies) This flexibility ensures you can accept payments in your customers' preferred currencies.
Step 5: Application review and submission
Review all information for accuracy before submitting. Once submitted, you'll receive a confirmation email with your application reference number and next steps.
Understanding the 1-3 business day verification timeline
Airwallex has significantly improved processing times in 2025, with most applications receiving initial review within 24-48 hours. However, several factors influence the final timeline:
Typical processing stages
Day 1: Initial application review and automated document verification. The system checks document formats, completeness, and runs preliminary compliance screenings.
Day 1-2: Manual review by compliance specialists. This includes verifying business registration, beneficial ownership information, and conducting enhanced due diligence for certain industries or transaction volumes.
Day 2-3: Final approval and account provisioning. Once approved, your account details and routing information are generated and delivered via secure email.
Factors that can extend timelines
Incomplete documentation: Missing or unclear documents trigger requests for additional information, adding 2-3 business days to the process.
Beneficial ownership complexity: Businesses with complex ownership structures or multiple beneficial owners may require additional verification time.
High-risk industry classification: Certain industries undergo enhanced due diligence, potentially extending review periods to 5-7 business days.
Regulatory holidays: US banking holidays can pause verification processes, particularly for final compliance checks.
Expediting your application
To ensure the fastest possible processing:
Submit applications early in the week (Monday-Wednesday)
Provide all documents in a single submission
Respond promptly to any requests for additional information
Ensure all contact information is current and monitored
Common application delays and how to avoid them
Based on 2025 user feedback and support data, these issues cause the majority of application delays:
Beneficial ownership mismatches
The problem: Ownership percentages or names don't align across different documents.
The solution: Create a simple ownership chart before starting your application. Verify that all legal names, ownership percentages, and roles match exactly across your Certificate of Formation, operating agreements, and beneficial ownership attestation.
Unclear identification documents
The problem: Blurry photos, expired IDs, or documents with missing information.
The solution: Use a scanner rather than phone camera when possible. Ensure all four corners of the document are visible and all text is clearly readable. Check expiration dates before uploading.
Address verification issues
The problem: Business address doesn't match incorporation documents, or proof of address is outdated.
The solution: Use current utility bills, bank statements, or lease agreements dated within 90 days. If your business operates from a different address than your incorporation documents show, prepare a lease agreement or other proof of current location.
Incomplete business descriptions
The problem: Vague or overly broad business descriptions that don't clearly explain your operations.
The solution: Provide specific, detailed descriptions of your business activities, target markets, and revenue sources. This helps compliance teams understand your business model and assess appropriate risk levels.
Receiving your local USD routing details
Once your application is approved, Airwallex provisions your US account with local banking details that function like a traditional US bank account for your customers and partners.
What you'll receive
Account number: A unique account number for receiving USD payments
Routing number: A US routing number that identifies the financial institution
Bank name and address: The correspondent bank information for wire transfers
SWIFT code: For international wire transfers to your USD account
These details allow your US customers to pay you via ACH transfers, wire transfers, or other domestic payment methods without international fees or delays. (Airwallex USD Account Benefits)
Setting up direct deposits and ACH
The direct debit feature to add funds to an Airwallex wallet is currently available for customers with businesses registered in the United States. (Airwallex Direct Debit) Settlement time for direct debit deposits into an Airwallex wallet usually takes 2-4 business days.
This functionality enables you to:
Collect recurring payments from US customers
Receive payroll deposits if you're paying yourself from US operations
Accept payments from US-based partners or clients
Integration with existing systems
Airwallex offers APIs and integrations that connect your new USD account with existing business systems. This includes:
Accounting software integration for automatic transaction recording
eCommerce platform connections for seamless payment processing
ERP system integration for comprehensive financial management
Managing your multi-currency operations
Once your account is active, Airwallex provides tools to optimize your multi-currency operations and minimize foreign exchange costs.
Currency conversion strategies
The platform allows businesses to convert balances to different currencies in just a few clicks. (Airwallex Currency Management) Key features include:
Real-time exchange rates: Access to interbank FX rates for cost-effective currency conversions
Conversion scheduling: Plan currency conversions around market conditions and business needs
Multi-currency reporting: Review global transactions in a single view for comprehensive financial oversight
Payment processing optimization
For businesses accepting payments from US customers, Airwallex offers conversion-optimized prebuilt payment forms and integrations with eCommerce platforms. (Airwallex Payment Solutions) This ensures customers can pay in their preferred currency while you receive funds in the currency that best suits your operations.
Expense management and corporate cards
Airwallex provides multi-currency company and employee cards for managing business expenses across different markets. (Airwallex Corporate Cards) These cards automatically handle currency conversions and provide detailed expense tracking for better financial control.
Compliance and ongoing requirements
Maintaining your Airwallex US account requires ongoing compliance with US financial regulations and periodic information updates.
Annual compliance reviews
Airwallex conducts annual reviews of business accounts to ensure continued compliance with regulatory requirements. This typically involves:
Updating beneficial ownership information
Confirming business activities and transaction patterns
Providing updated financial statements or tax returns
Verifying continued business registration and good standing
Transaction monitoring and reporting
The platform automatically monitors transactions for compliance with US anti-money laundering regulations. Large or unusual transactions may trigger additional verification requirements, but this process is typically automated and doesn't interrupt normal business operations.
Maintaining account good standing
To keep your account in good standing:
Respond promptly to any compliance requests
Keep business registration current in your state of incorporation
Maintain accurate beneficial ownership records
Report significant changes in business structure or ownership
Ready to grow globally?
Success stories and real-world applications
Businesses across various industries have successfully used Airwallex to streamline their US market entry and ongoing operations.
RYSE transformed complex cross-border finances into streamlined, cost-saving, and efficient global operations with Airwallex. (Airwallex Success Stories) This transformation demonstrates how proper financial infrastructure can significantly impact business efficiency and profitability.
McLaren Racing modernized cross-border payments with Airwallex, showing how even established organizations can benefit from modern financial platforms. (Airwallex Enterprise Solutions)
Industry-specific benefits
eCommerce and retail: Businesses can accept payments in multiple currencies while maintaining local USD accounts for US operations, reducing conversion costs and improving cash flow.
Professional services: Service providers can invoice US clients in USD while maintaining multi-currency capabilities for global operations.
SaaS platforms: Software companies can collect subscription payments in local currencies while managing global operations through a unified platform.
Wholesale and trade: Import/export businesses benefit from multi-currency accounts that handle complex international transactions efficiently. (Airwallex Wholesale Solutions)
Next steps and getting started
Opening a multi-currency business account with Airwallex represents a strategic investment in your US market expansion. The streamlined application process, competitive pricing, and comprehensive feature set make it an attractive option for businesses of all sizes.
Preparing for your application
Before starting your application:
Gather all required documentation
Verify beneficial ownership information accuracy
Prepare detailed business descriptions and financial projections
Consider your multi-currency needs and integration requirements
Timeline expectations
Plan for a 1-3 business day approval process, with most applications receiving approval within 48 hours when documentation is complete and accurate. Factor in additional time for any requested clarifications or additional information.
Ongoing optimization
Once your account is active, take advantage of Airwallex's comprehensive financial management tools to optimize your US operations. This includes setting up automated currency conversions, integrating with existing business systems, and leveraging corporate cards for expense management.
The US market offers tremendous opportunities for international businesses, but success requires proper financial infrastructure. Airwallex's multi-currency business accounts provide the foundation for efficient, cost-effective US operations while maintaining the flexibility to serve global markets. (Airwallex Global Business Solutions)
By following this comprehensive guide and avoiding common pitfalls, you'll be well-positioned to establish your US financial operations quickly and efficiently, setting the stage for successful market expansion.
FAQ
What documents do I need to open an Airwallex business account in the US?
To open an Airwallex business account in the US, you'll need Supporting Tax ID Documentation (EIN), Certificate of Formation or Incorporation, Attestation of Beneficial Ownership, and Supporting Business Documents. This KYC (Know Your Customer) verification process is a regulatory requirement for all financial services providers.
How many currencies can I hold in an Airwallex Global Account?
Airwallex allows you to create Global Accounts in over 20 currencies located in more than 10 countries/regions, with the ability to collect funds locally from over 60 countries. You can receive funds through domestic transfer methods or internationally via SWIFT, depending on your business needs.
What are the pricing plans for Airwallex business accounts?
Airwallex offers three pricing plans: Explore (free with AUD $5k monthly deposits or AUD $10k minimum balance, otherwise AUD $29/month), Grow (AUD $99/month with expense management and bill pay features), and Accelerate (custom pricing). Each plan caters to different business sizes and requirements.
How long does it take to add funds to my Airwallex wallet via direct debit?
Direct debit deposits into your Airwallex wallet typically take 2-4 business days to settle. This feature is currently available for businesses registered in the United States and selected customers in Australia, allowing you to add funds from US and Australian bank accounts.
Can Canadian businesses use Airwallex USD accounts for US expansion?
Yes, Canadian businesses can leverage Airwallex's USD Global Accounts to facilitate their US expansion. Airwallex provides comprehensive solutions for Canadian business owners looking to expand internationally, including USD accounts that help manage cross-border transactions and reduce currency conversion costs.
How does Airwallex compare to traditional banks for multi-currency business accounts?
Airwallex offers significant advantages over traditional banks, including faster account opening (typically days vs. weeks), lower foreign exchange fees, support for 20+ currencies, and digital-first banking features. The platform is trusted by over 150,000 companies worldwide and designed specifically for global businesses looking to save time and money as they scale.
Citations
https://help.airwallex.com/hc/en-gb/articles/4419267227417-Verifying-your-Business-in-the-US
https://www.airwallex.com/ca/blog/a-canadian-business-owners-guide-to-successful-expansion
https://www.airwallex.com/ca/blog/cross-border-ecommerce-101-a-guide-for-wholesale-and-retail-smes
https://www.airwallex.com/ca/blog/what-is-a-business-account
https://www.airwallex.com/ca/blog/what-is-a-multi-currency-account
https://www.airwallex.com/ca/blog/what-is-an-airwallex-global-account
https://www.airwallex.com/ca/business-account/global-accounts/usd-account
View this article in another region:Canada - Français
Airwallex Editorial Team
Airwallex’s Editorial Team is a global collective of business finance and fintech writers based in Australia, Asia, North America, and Europe. With deep expertise spanning finance, technology, payments, startups, and SMEs, the team collaborates closely with experts, including the Airwallex Product team and industry leaders to produce this content.
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- Why choose a multi-currency business account for US operations?
- Entity eligibility requirements for US accounts
- Required KYC and KYB documentation checklist
- Step-by-step online application process
- Understanding the 1-3 business day verification timeline
- Common application delays and how to avoid them
- Receiving your local USD routing details
- Managing your multi-currency operations
- Compliance and ongoing requirements
- Success stories and real-world applications
- Next steps and getting started
