How to open a US business bank account from Australia

Key takeaways

• Australian businesses can open a US business bank account, but traditional US banks ask for documents most non-residents don’t have, like a Social Security Number (SSN) and a physical US address.

• There are other ways to do it, including registering a US entity and applying for an Employer Identification Number (EIN), or using a multi-currency account provider that issues US account details remotely.

• Airwallex Global Accounts give Australian businesses local US account details (account number and routing number) without needing a US address, SSN, or an in-person visit, so you can receive, hold, and send USD from Australia.

Yes, you can open a US business bank account from Australia. But if you’re hoping to remotely open an account with Chase or Bank of America, you’ll run into some roadblocks. Traditional US banks have strict requirements that most Australian business owners just can’t meet unless they relocate or jump through a lot of hoops.

The good news is, there’s more than one way to do it. You can try for a traditional US bank account, if you have the right documentation, register a US entity first, or use a multi-currency account provider that gives you US account details without the usual barriers. In this article, we’ll cover why you might want a US account, what you’ll need, the challenges you’ll face, your options, and how Airwallex can help you get there.

Benefits of opening a US bank account as an Australian business

If you’re selling to US customers, paying US suppliers, or running ads on US platforms, having US account details makes your finances much easier to manage. Here’s what that gives you:

Receive USD payments without conversion fees

When you collect payments from US clients or marketplaces like Amazon US, that money usually comes in as USD. Without a US account, your bank will automatically convert it to AUD and take a cut. If you're earning US$10,000 a month and your bank adds a 3–5% markup on every payout, that's US$300–500 disappearing in unnecessary costs. 

A US account lets you hold USD, reduce your foreign exchange risk, and convert on your terms when the rate works in your favour. For more on accepting payments from US customers, see our guide to payment methods in Australia.

Pay US suppliers and subscriptions in USD

If you’re paying for US-based SaaS tools, running Google Ads or Meta campaigns, or working with American suppliers, paying in USD helps you avoid the foreign transaction fees that can stack up on every transaction. You can also link virtual cards to your US account for software subscriptions, so you’re paying in the currency the vendor expects, without your bank clipping the ticket each time.

Build credibility with US clients and partners

Having US account details, a routing number and account number, makes your business look established in the US market. Your American clients can pay you through local ACH transfers instead of expensive international wires, which removes friction and makes you easier to work with.

Requirements and documents you'll need

Before you apply, here’s what you’ll usually need. The exact requirements depend on whether you’re going through a traditional US bank or a multi-currency provider like Airwallex. For a broader look at opening business accounts, see our guide on how to open a business bank account.

Identity and business documents

Traditional US banks generally require:

• Photo ID of the director opening the account (passport is usually accepted)

• Documents proving your business’s incorporation

• Your business licence

• Confirmation of your EIN (Employer Identification Number)

• Proof of a physical US address

Requirements vary by bank, and some may ask for extra documentation depending on your business type and structure.

What's an EIN and how to get one

An Employer Identification Number (EIN) is a nine-digit number issued by the IRS that identifies your business for tax purposes. It’s formatted as XX-XXXXXXX (e.g. 12-3456789). Think of it as the US version of an Australian Business Number (ABN). You’ll need one to open most US business bank accounts, file US taxes, or hire US employees.

Australian businesses can apply for an EIN directly from the IRS by filing Form SS-4, even without a US entity. The process is free, though it can take a few weeks if you apply by mail or fax. Having a US LLC makes things simpler, but it’s not strictly required to get an EIN.

US entity registration (optional but helpful)

Some Australian businesses choose to register a US LLC, often in Delaware or Wyoming, to make opening a traditional US bank account easier. A US entity gives you a registered agent address and a clearer path to meeting bank requirements. That said, it also adds costs, ongoing compliance obligations, and complexity. If your main goal is simply to receive and send USD, there are simpler alternatives.

The two big challenges for non-residents

Under Know Your Customer (KYC) rules, US banks have to verify your identity, and most ask for documents that non-residents usually don’t have. This goes back to the USA PATRIOT Act of 2001, which strengthened the Bank Secrecy Act of 1970 by requiring financial institutions to implement customer identification procedures and enhanced due diligence for account holders.¹

Two requirements cause issues for most Australian business owners:

Social Security Number (SSN)

To get a Social Security Number, you generally need to be a US citizen or have work authorisation in the US, which usually means having specific immigration documents or a visa that permits employment. For most Australian business owners operating remotely, that’s not on the table. Some banks will accept an Individual Taxpayer Identification Number (ITIN) or an Employer Identification Number (EIN) as alternatives, which we’ll cover below.

A physical US address

You need to show the bank that you have a real US presence. A US postbox address won’t cut it. You need a physical address, and banks can enforce this by asking for a utility bill or lease agreement. Some banks let you apply online, but you’ll still need a physical US address on file to complete the process.

ITIN as an alternative to an SSN

An Individual Taxpayer Identification Number (ITIN) is a tax processing number issued by the IRS to people who aren’t eligible for an SSN but still need to file US taxes. Some US banks accept an ITIN instead of an SSN when opening an account. You can apply for an ITIN by filing IRS Form W-7, though the process takes several weeks. Keep in mind that an ITIN doesn’t solve the address requirement. For most traditional banks, you’ll still need proof of a physical US address.

So if you don’t have an SSN or a US address, what are your options?

How to get US bank account details (3 ways)

There are three main ways for an Australian business to get US account details. Each one comes with trade-offs around cost, complexity, and what you’ll need to provide. For a deeper comparison of business account options, see our guide to comparing business bank accounts.

1. Open an account with a traditional US bank

If you can visit the US in person, some banks will open an account for non-residents, though you’ll still need to provide a lot of documentation, including proof of address and often an SSN, ITIN, or EIN. A small number of banks like Citibank and HSBC offer international accounts that can be opened remotely, but these often come with strict eligibility criteria, high minimum balance requirements, and elevated fees. Specific requirements vary by bank and account type, so check current terms directly before applying. 

2. Register a US entity first

Another option is to form a US LLC, get an EIN, and set up a registered agent address in the US. This gives you a legitimate US business presence, which makes traditional banks more willing to work with you. The downside is that it adds legal and accounting complexity, ongoing compliance costs, and takes time to set up. This path makes sense if you’re planning significant US operations, but it’s overkill if you just need to receive and send USD.

3. Use a multi-currency account provider

Multi-currency account providers can issue US account details, including a routing number and account number, to Australian businesses without requiring a US address, SSN, or entity registration. You don’t need to visit the US, and the whole setup happens online. For most Australian businesses that want to collect USD from US clients or marketplaces, hold funds in USD, and convert to AUD when the timing suits them, this is the simplest option.

Fees to expect with a US bank account

If you go with a traditional bank, you won’t pay foreign transfer fees on payments you receive in USD, but there are other costs you’ll need to factor in. For context on whether a dedicated business account makes sense for your situation, see our article on whether you need a business bank account.

• Monthly fees. Many US banks charge a monthly maintenance fee, though this can be waived if you keep a minimum balance. These fees vary a lot depending on the bank and account type.

• International transfer fees. Sending money from your US account to an Australian account or another international destination usually incurs cross-border fees. These vary by bank but can add up quickly if you’re making frequent transfers.²

• FX markup. When you convert USD to AUD (or vice versa), banks often add a markup of 1–5% on top of the mid-market exchange rate. This hidden cost can be bigger than the visible fees.

• Account closure fees. Some banks charge a fee if you close your account within a short period, usually 90 or 180 days after opening.

These costs are worth weighing against the alternatives, especially if you mainly want to receive and hold USD rather than use full US banking services.

How to get US account details with Airwallex Global Accounts

If the traditional bank route feels like too many hoops, there’s a simpler option. With an Airwallex USD Global Account, you get US account details, a routing number and account number, without needing a US address, SSN, or an in-person visit. You can open your account online from Australia using your existing Australian ID and business documents.

Here’s how it works: sign up online, get your US account details within days, share them with your US clients or connect them to marketplaces like Amazon US or PayPal, receive USD directly, and convert to AUD at interbank rates when you’re ready.

What you get with a USD Global Account

• US account number and routing number. Receive payments from US clients and platforms as if you had a local US account.

• Hold and send USD. Keep funds in USD without automatic conversion, and send USD payments to suppliers or partners.

• Link to marketplaces. Connect your account to Amazon US, Shopify, PayPal, and other platforms to receive payouts directly.

• Xero integration. Sync your transactions automatically with Xero, so your bookkeeping stays up to date without manual data entry.

• Corporate cards for USD payments. Issue virtual or physical Corporate Cards linked to your USD balance for software subscriptions and online purchases.

And you’re not limited to USD. You can also open accounts in CAD, EUR, GBP, plus CHF, CNY, HKD, SGD, JPY, and more (you can open local banking details in 20+ countries), all from the same Airwallex account.

How it compares on fees

Airwallex uses interbank exchange rates with a margin of 0.5% for major currencies and 1% for all others – no hidden markups. There are no monthly account fees on the free Explore plan when you maintain an A$10,000 balance or make A$5,000 in monthly deposits, otherwise it is A$29 per month. Corporate Cards have no international purchase fees, so you can pay US vendors without extra costs eating into your margins.

Frequently asked questions

Can I open a US business bank account from Australia without visiting the US?

Yes, you can. Some US banks offer international accounts that can be opened remotely, though these usually require high minimum deposits. Multi-currency providers like Airwallex issue US account details entirely online, with no US visit required.

Do I need a Social Security Number to open a US bank account?

Most traditional US banks require a tax identification number such as an SSN, ITIN (Individual Taxpayer Identification Number), or EIN (Employer Identification Number). For non-US citizens, an ITIN or EIN may be accepted instead of an SSN, depending on the bank. Multi-currency providers like Airwallex don’t require an SSN at all.

What documents do I need to open a US business bank account as a non-resident?

At minimum, you’ll need a valid passport, proof of business registration, and an EIN. Traditional banks also require a US address and SSN or ITIN. Providers like Airwallex only need your Australian ID and business details.

What's the difference between a traditional US bank account and a multi-currency account?

A traditional US bank account is held at a US-based bank and comes with full banking services, but also strict requirements and higher fees. A multi-currency account from a provider like Airwallex gives you local US account details for receiving and sending USD, without the traditional bank requirements or the need for a US presence.

Sources 

1. https://www.fincen.gov/history-anti-money-laundering-laws 

2. https://www.frbservices.org/resources/fees

This information doesn’t take into account your objectives, financial situation, or needs. If you are a customer of Airwallex Pty Ltd (AFSL No. 487221) read the Product Disclosure Statement (PDS) for the Direct Services available here.