The Complete Checklist: U.S. Bank Business Account Requirements (2025)
Dec 22, 2025
Starting a business in the United States is one of the most strategic moves a global entrepreneur can make. It provides access to the world’s largest consumer market, a stable currency, and a prestigious financial ecosystem. However, the most critical step in this journey is navigating the complex web of U.S. bank business account requirements.
Whether you are a local founder or an international entrepreneur operating from overseas, banks have a strict "Know Your Customer" (KYC) protocol. Missing even one document can lead to an immediate rejection.
In this guide, we will break down every document, tax ID, and legal requirement you need to open a U.S. business account, and why modern founders are choosing digital-first solutions like Hurupay to bypass traditional banking bureaucracy.
1. The Legal Foundation: Business Entity Documents
You cannot open a business account without a legally recognized business. Banks require proof that your company is registered and in good standing with the state.
Articles of Organization or Incorporation
This is the primary document issued by the Secretary of State where you registered your business (e.g., Wyoming, Delaware, or Texas).
For LLCs: These are called Articles of Organization.
For Corporations: These are called Articles of Incorporation.
The bank will check these documents to verify the official name of your business, the date of formation, and the registered agent.
Operating Agreement or Bylaws
While not always required by the state for filing, banks almost always require this. The Operating Agreement (for LLCs) or Bylaws (for Corporations) outlines:
Who owns the company.
Who has the authority to sign for the bank account.
How the company is managed.
If you are a solo founder, you still need a single-member Operating Agreement to prove you are the sole "Authorized Signatory."
2. The Tax Identity: EIN (Employer Identification Number)
The EIN is the single most important requirement for any U.S. business bank account. Think of it as a Social Security Number for your company.
The IRS uses this number to track your business’s tax obligations. Banks are legally prohibited from opening an account for a U.S. entity without a verified EIN.
How to get it: You apply through the IRS.
The Catch: If you have a U.S. Social Security Number (SSN), you can get an EIN online in 15 minutes. If you are a non-resident without an SSN, you must apply via Form SS-4 (fax or mail), which can take several weeks.
3. Personal Identification Requirements
The bank needs to know exactly who is behind the business. Under the Corporate Transparency Act, banks are now more vigilant than ever about identifying "Ultimate Beneficial Owners" (UBOs)—anyone who owns 25% or more of the company.
Primary ID
For U.S. Residents: A state-issued Driver’s License or an SSN.
For Non-Residents: A valid International Passport.
Secondary ID
Some traditional banks may ask for a secondary form of ID, such as a credit card from another bank, a utility bill, or a national ID card from your home country.
4. Address Requirements: The Physical vs. Virtual Debate
This is where many founders—especially those working remotely—hit a wall. U.S. federal regulations (specifically the USA PATRIOT Act) require banks to have a physical street address for the business.
Business Address: This cannot be a P.O. Box. Traditional banks often reject "Registered Agent" addresses because they are flagged as commercial mail-receiving agencies (CMRAs).
Residential Address: The "Authorized Signatory" (you) must also provide a residential address. For international founders, this can be your home address in your country, but traditional U.S. banks often struggle to verify foreign addresses.
5. Why Traditional Banks are Failing Global Founders
If you walk into a traditional "Big Bank," you will likely face "The Three Nos":
No SSN? Many traditional online applications will block you immediately.
No Physical Presence? They may require you to fly to the U.S. to sign documents in person.
No U.S. Credit History? Without a "FICO" score, many banks view you as a high-risk entity, leading to account closures or limited features.
6. The Hurupay Advantage: Meeting Requirements Digitally
Hurupay was designed to satisfy U.S. compliance standards while removing the friction of traditional banking. We’ve reimagined the requirements to fit the 21st-century entrepreneur.
No SSN or ITIN Required
We prioritize your International Passport and your Business EIN. You don't need a U.S. tax ID as an individual to open a business account with us.
100% Remote Verification
Forget the plane ticket. Our biometric verification system confirms your identity through a secure mobile interface. Whether you are in Nigeria, the Philippines, or Brazil, your onboarding is handled entirely through the Hurupay app.
Multi-Currency and Stablecoin Support
Traditional U.S. banks only handle USD. Hurupay allows you to hold balances in USD, EUR, GBP, and Stablecoins (USDC/USDT). This is a game-changer for businesses that need to hedge against local currency volatility or pay international suppliers instantly.
Earn 8% Annual Interest
Most business accounts offer 0.01% interest. At Hurupay, we believe your business capital should grow. We offer up to 8% annual interest on your deposits, compounding in real-time. This helps you offset business costs like hosting, software, or marketing.
Summary Checklist: Are You Ready?
Before you apply, ensure you have the following:
[ ] Business EIN: Official confirmation letter from the IRS.
[ ] Registration Documents: Articles of Organization/Incorporation.
[ ] Operating Agreement: Signed and dated.
[ ] Valid Passport: With at least 6 months before expiration.
[ ] Business Description: A clear explanation of what your business does and where your customers are located.
Conclusion
The requirements for a U.S. bank account can seem overwhelming, but they are simply the "entry fee" for the world's most lucrative market. By organizing your documents and choosing a partner that understands the needs of global founders, you can move from "pending" to "active" in record time.
Stop letting legacy banking rules limit your potential.
Ready to meet the requirements and start banking?
Get started with Hurupay today and open your global business account in minutes.
