How to open a US business bank account from the UK

Key takeaways

• Opening a traditional US business bank account as a UK non-resident is challenging, primarily because US regulations require both a Social Security Number and a verified physical US address.

• While a US account allows for easy USD payments and avoids platform conversion fees (e.g., on Amazon US), traditional US banking options are riddled with fees, high minimum thresholds, and poor foreign exchange rates.

• Airwallex cuts through the complexity: our USD Global Account gives you genuine US account details (ACH and Fedwire) instantly and online, with no need for a US address or SSN, allowing you to seamlessly receive, hold, and send USD.

We'll be honest: whether you're a business or an individual, it can be a challenge to open a business bank account in the US from the UK, particularly not without a flight across the pond to do so in person. But, it's not impossible.

In this article we'll walk you through why you'd want to open a US business bank account, the fees you can expect to pay, and then how opening an online Business Account may be a better alternative.

The challenges of opening a US business bank account as a non-resident

Opening a traditional US business bank account from the UK is challenging primarily because of US banking regulations. The 2001 Patriot Act requires US banks to verify customer identity under strict Know Your Customer (KYC) rules, which typically requires:

• Social Security Number or ITIN: You'll need either a Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN), which non-residents rarely possess.

• Verified physical US address: A legitimate US street address is mandatory (P.O. boxes don't qualify), creating a significant barrier for UK-based business owners.

Can you open a US bank account online from the UK?

In short, no. While US residents can open accounts online, non-residents almost always need to visit a branch in person to provide identification. Even then, approval is not guaranteed without the required US documentation.

What about 'International Accounts' from US banks?

Some major US banks offer 'International Accounts' for non-residents. However, this option is often impractical for SMEs. These accounts typically require very large initial deposits and high minimum balances, often in the range of US$150,000 or more, placing them out of reach for most growing businesses.

Requirements to open a US business bank account

If you do have a US presence, here is a checklist of the typical documents you will need to provide to a traditional US bank.

Essential documents all applicants need

• Photo identification: Valid passport or government-issued ID for the person opening the account.

• Employer Identification Number confirmation: Official EIN confirmation letter issued by the IRS.

• Proof of physical US business address: Utility bill, lease agreement, or similar documentation (P.O. boxes not accepted).

Business type-specific requirements

• For LLCs: Articles of Organisation and your LLC Operating Agreement.

• For Corporations: Articles of Incorporation and corporate bylaws.

• For Sole Traders: Business license and your SSN or ITIN.

How to open a US bank account in the US

Note: This process applies if you have a US business entity, Social Security Number, and verified US address. Most UK businesses won't meet these requirements—see alternative solutions below.

For those who do meet the requirements, here's how to open a traditional US business bank account:

1. Research and select your bank: Compare fees, services, and account requirements across different US banks to find the best fit for your business needs.

2. Initiate the account opening process: Visit your chosen bank's branch in person or begin the online application if available.

3. Provide required documentation: Bring all necessary documents, including:Photo ID of the business' director that's opening the account—in this case, you.

4. Documents to prove your business' incorporation.

5. Your business licence.

6. Confirmation of your EIN. You can read how to get one here.

7. Proof of your business' US address. To prove your address, you can use:Proof of address from a US employer, a university, etc, such as a payslip or official letter.

Expected fees to pay on a US bank account

While a US bank account eliminates foreign transfer fees on USD payments, traditional banks impose several other cross-border fees that UK businesses should consider:

• Monthly maintenance fees: Range from $0 to $12+ per month; some banks waive these if you maintain a minimum balance threshold.

• ATM fees: Many US banks also still charge ATM fees. These include fees for using the ATM of a different banking provider. These can vary, ranging from low, to $2.50, to $5 or more per transaction.

• Teller fees: As technology evolves, banks are encouraging their customers to do their day-to-day banking online wherever possible. So, some banks have started charging a fee to interact with a real-life, flesh-and-blood bank teller. This is usually around $3-$5 for daily transactions, with international transactions incurring their own set of fees.

• International transfer fees:International transfer fees in America can vary wildly, starting at approximately $15 and going up to as high as $45 per individual transfer.

• Account closure fees: Not all banks do this, but you may be charged a fee for closing your account with a US bank. This is typically charged when you close it within a short timeframe, such as 90 or 180 days. The average fee is $25, but some banks can charge up to $50.

• Annual card fees: Much the same as your UK-issued card, US card fees are a moving target. Some US card products offer low fees, but with a higher interest rate; others charge a flat annual fee, and some are 'premium' cards with higher fees, but rewards point offers. Additionally, many cards charge foreign transaction fees on international purchases.

• Poor FX rates when transferring money: When dealing with a US bank, you'll likely encounter poor FX rates when transferring money from your US account to your UK account, or into another currency. Traditional banks typically add significant markups above the interbank exchange rate.

But, the challenge for most is actually opening a US bank account as a non-resident in the first place.

The benefits of having US account details for your UK business

Having US account details unlocks significant advantages for UK businesses looking to operate in the American market:

• Direct US market access: Accept payments in USD directly, making it easier for American customers to pay you.

• Platform integration: Link your US account details to Amazon US, PayPal, Shopify, and other platforms to withdraw earnings without international transfer delays.

• Reduced conversion costs: Avoid forced currency conversions and keep more of your revenue by holding and spending USD when needed.

• Subscription payments in USD: Pay for US-based software subscriptions without exchange fees.

You can even connect it to your virtual cards, which then allows you to pay for software subscriptions in USD, and avoid the exchange fees.

A better alternative: USD Global Account from Airwallex

What is a USD Global Account?

An Airwallex USD Global Account provides UK businesses with genuine US account details—including an account number and ACH and Fedwire routing numbers—without requiring a US entity, Social Security Number, or physical US address. While it's not a traditional bank account, it functions like one, letting you send and receive US dollars as if you were operating locally in the US.

Key features: US account details without US entity requirements

• Receive payments from US customers and platforms like Amazon and Shopify directly in USD.

• Pay US suppliers and contractors using local ACH transfers, avoiding costly wire fees.

• Hold USD balances and convert them to GBP or other currencies at market-beating FX rates, with access to Global Accounts in 11+ currencies.

Traditional US banks vs. Airwallex: A comparison

The information below is for educational purposes only. This research is based on publicly available information and is reviewed periodically.

How to open a USD Global Account with Airwallex

Getting US account details with Airwallex is a straightforward online process. Here's how it works:

1. Sign up for an Airwallex Business Account: The process is fully online and takes just a few minutes.

2. Verify your UK business: You will need to provide standard information about your UK-registered business, such as your Companies House registration number and director details.

3. Access your USD Global Account: Once approved, you can instantly activate your USD Global Account from your dashboard to get your unique US account number and routing details.

4. Start transacting: Use your new details to receive payments from US platforms, pay suppliers, and manage your USD funds without forced conversions.

Opening a US business account from the UK: Your next steps

For UK businesses looking to access the US market, traditional US banks present significant regulatory and cost barriers. Between SSN requirements, US address verification, high wire transfer fees, and poor FX rates, the conventional route isn't built for international businesses. UK companies should evaluate modern banking alternatives that support global operations.

Airwallex changes that. With a USD Global Account, you get genuine US account details—including ACH and Fedwire routing numbers—in minutes, without needing a US entity, SSN, or physical address. You'll save up to 80% on FX fees, receive funds faster, and integrate seamlessly with platforms like Amazon, Shopify, and Xero.

Ready to access the US market without the complexity? Explore the product and see how Airwallex can support your business growth.

Frequently asked questions about opening a US business account from the UK

Can I open a US business bank account without a Social Security Number?

Traditional US banks require either a Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN), making it nearly impossible for UK non-residents to open accounts. Airwallex's USD Global Account provides an alternative, offering genuine US account details without requiring an SSN, ITIN, or US entity.

Do I need a US business entity to get US account details?

Traditional US banks require a registered US business entity, but Airwallex provides US account details to UK-registered businesses without needing a separate US entity or incorporation.

How long does it take to open a US business account as a non-resident?

The process with a traditional bank can take several weeks and requires an in-person visit. With Airwallex, you can sign up online and get access to your USD Global Account details in minutes.

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Can I use a US business account to receive Amazon or Shopify payments?

Yes, both traditional US bank accounts and Airwallex USD account details can be linked to platforms like Amazon Seller Central, Shopify Payments, and PayPal to receive USD payouts directly and avoid costly platform conversion fees.