Opening a US Bank Account from the UK: Routes, Requirements and Costs

Yes, but which route works depends almost entirely on what you are. A UK resident opening a personal US account, a UK-registered company wanting a US business account, and a UK resident who already owns a US LLC are three different applications with three different outcomes — and the first two often stall on the same two documents: a US address and a US taxpayer identification number.

There is also a fourth case that is far more common than most guides admit: businesses that do not actually need a US bank account at all, only US local receiving details so American clients can pay them domestically. That distinction decides most of the work.

This guide covers what each route requires, what it costs, and where applications usually break.

Key Takeaways

• Whether you can open a US bank account from the UK depends on whether the account is personal or business, your legal residence and your business structure.
• Traditional US banks and financial technology providers apply different eligibility rules, documentation requirements and onboarding processes.
• A US-registered company typically needs formation documents and an EIN, while individual applicants face different identity and residency requirements.
• Businesses that only need to receive, hold or send USD may be able to consider multi-currency accounts with US local receiving details, depending on eligibility and product terms.

Can You Open a US Bank Account from the UK?

The short answer is yes, but not on the same terms as a US resident, and never with a guarantee of approval. Eligibility is provider-specific, and non-resident applications are assessed individually. What follows are the four situations the question usually covers.

A UK Resident Opening a Personal US Account

This is the hardest route. Major US banks generally expect a US residential address and a US taxpayer identification number — a Social Security Number or an Individual Taxpayer Identification Number — plus government-issued photo ID. Several still expect you to attend a branch in person, which defeats the purpose of applying from the UK. Some banks will open an account for a non-resident who already holds a qualifying relationship with the same banking group overseas, but those are typically private-banking or premium tiers rather than everyday current accounts.

A UK-Registered Company Seeking a US Business Account

A UK limited company applying directly to a US bank is usually outside the bank's appetite, since US banks generally bank US entities — a UK LTD applying on its own incorporation documents is a weak application regardless of US revenue.

The realistic route is a non-bank provider that supports UK-registered entities and can issue USD receiving details. The account you get is a payment or e-money account, not a US bank deposit account — a legal and operational difference that affects protections, not just marketing.

A UK Resident Who Owns a US LLC or Corporation

This is the route with the most options. If you have formed a US entity, you can apply to US-focused business account providers and, in many cases, to banks directly.

Mercury, for example, publishes that it supports US-formed companies including those with founders living abroad. Its stated requirements are formation documents, an IRS-issued EIN, a genuine principal business address — residential is acceptable, but a registered agent, PO box or UPS box is not — and government ID for the controller plus each beneficial owner holding 25% or more. It also expects existing or planned US operations, and traces ownership up to real individuals when a holding company sits in the chain.

When You Need US Receiving Details Rather Than a US Bank Account

Most UK businesses asking this question actually want to get paid by US customers without punitive wire fees. If that is the goal, a US bank account is one way to get there, not the only way.

Providers that issue local USD receiving details let a US client pay by ACH or domestic wire as if you held a US account, while the balance sits in a multi-currency account under your own entity's registration. The trade-off is that these accounts generally do not offer FDIC deposit insurance or a full US banking relationship, and some payment flows — particularly card settlement from US marketplaces — may require specific integrations.

Best Options for Opening a US Account from the UK

There are four broad routes: open directly with a US bank, use a US business account provider, use a multi-currency provider that issues USD receiving details, or use a platform that covers collection, conversion and payouts together. They differ in who they accept, what you can do with the money, and what the account is legally.

Traditional US Banks

A traditional US bank gives you a genuine deposit account, FDIC insurance up to $250,000 per depositor, per bank, per ownership category, and a full US banking relationship including cheque facilities and cash handling at branches.

The obstacle is eligibility rather than product quality. Expect to provide a US residential address, a US taxpayer identification number and government photo ID, and to attend a branch in person at a number of banks. Requirements vary substantially between institutions and by customer profile — some are far more open to non-residents than others, and the branch you approach can matter as much as the bank's headline policy.

That combination is why most UK individuals and UK-registered companies end up on the fintech routes below, even when a bank account would be the better product.

US Business Account Providers for Non-Residents

This route needs a US entity. You form a US LLC or corporation, obtain an EIN from the IRS, then apply to a provider that banks US companies with overseas owners.

The documentation list is consistent across providers: the formation document (Articles of Organization, Articles of Incorporation or Certificate of Formation), the IRS EIN letter (CP575, 147C or the returned SS-4), government ID for each 25% beneficial owner and one person with operating control, and a description of the business model, website, expected volumes and source of funds. Providers also ask about current or planned US operations.

Restrictions are worth checking before you form anything. Some providers decline founders resident in certain countries, and restricted industries typically include money services business activity, adult entertainment, cannabis, online gambling and trusts. Approval is not guaranteed even where criteria are met.

Multi-Currency Accounts with US Local Receiving Details

This is the route most UK businesses should evaluate first. A multi-currency account can issue US local receiving details — an account and routing number — so your US customers pay by ACH or domestic wire at local cost, while your balance sits in an account held under your own UK (or Hong Kong) entity.

The rails matter more than the provider here:

• ACH — the standard US domestic bank-to-bank rail, usually free or very cheap to receive, with settlement measured in business days.
• Domestic US wire — faster and more expensive than ACH, appropriate for larger invoices.
• International wire — what your customer pays without local details. Costs more, involves correspondent bank deductions, and typically lands short of the invoiced amount.

Against a traditional US bank account, the limitations are real: these are payment or e-money accounts, not deposit accounts, so FDIC insurance generally does not apply and safeguarding depends on the entity and the product. There is no cash or cheque handling, and some marketplace or card-settlement flows need their own integration.

The Fastest Route: Get USD Receiving Details Without a US Entity

If you're a UK business tired of jumping through hoops just to get paid by US customers, there's a far simpler route. You don't need to form a US LLC, get an EIN, or fly to a branch just to receive USD payments. You can get US local receiving details directly with your UK company.

PhotonPay issues US local receiving details (account number + routing number) directly to UK and Hong Kong registered companies — no US entity, no SSN/ITIN, no US residential address required. Your American clients pay by ACH or domestic wire as if you held a real US bank account, and the funds land in your multi-asset wallet ready to convert or pay out.

What this means for your UK business:

• Skip the entire US entity setup process. No need to register a US LLC, get an EIN, or pay for a registered agent. Apply directly with your UK LTD documents.
• Get approved in days, not weeks. Most businesses are approved within a few business days — vs. the several weeks it typically takes to set up a US entity and apply for a traditional US bank account.
• Your US customers pay at local cost — no SWIFT fees. They send ACH or domestic wire just like they would to any US company. No correspondent bank deductions eating into your payment.
• Hold and convert USD alongside your other currencies. No forced conversion. Pay suppliers directly from your USD balance, or convert when the rate is favorable.

How it compares to opening a traditional US bank account:

• US entity required: Traditional bank = Yes (LLC or corporation) vs. PhotonPay = No — use your UK/HK company
• EIN / SSN required: Traditional bank = Yes vs. PhotonPay = No
• US residential address required: Traditional bank = Yes vs. PhotonPay = No
• Application timeline: Traditional bank = several weeks (entity formation + EIN + bank approval) vs. PhotonPay = a few business days
• FDIC deposit insurance: Traditional bank = Yes vs. PhotonPay = No (client funds are safeguarded)
• Best for: Traditional bank = businesses that need a full US banking relationship vs. PhotonPay = businesses that just need to collect and pay USD efficiently

If you're a UK business selling to US customers, you probably don't need a full US bank account — you just need US receiving details. Get your USD receiving details today and start getting paid by US customers the easy way.

What Documents Do You Need?

Requirements differ by provider and by what you are applying for, so treat the following as the typical set rather than a fixed checklist. Confirm the exact list with your chosen provider before you start.

Personal Identity and Address Documents

A valid government-issued photo ID — normally a passport for non-US applicants — plus proof of residential address such as a utility bill, bank statement or government-issued letter. Most providers require the document to be recent, commonly within the last three months, and to match the address on your application.

Company Formation Documents

For a US entity: the formation document issued by the state — Articles of Organization, Articles of Incorporation or Certificate of Formation. For a UK or Hong Kong company, the certificate of incorporation and business registration documents. Multi-member entities are often asked for the operating agreement or shareholder documents.

Employer Identification Number (EIN) and Tax Information

A US business account generally requires an IRS-issued EIN, evidenced by the CP575 letter, a 147C letter or the returned SS-4. This is usually the single most common blocker for non-resident founders, because obtaining it as a non-resident is slower and more procedural than the US-domestic online route. Where the provider is US-regulated, foreign entities also typically complete a W-8BEN-E (or W-8BEN for individuals) for US tax purposes.

Ownership and Beneficial Owner Information

Expect to disclose everyone who owns or controls 25% or more, directly or indirectly. When a holding company sits in the chain, providers typically ask you to trace ownership up to the individuals behind it. Vague ownership is a frequent cause of delay.

Business Activity and Source-of-Funds Information

A description of what the business does, a working website or marketplace profile, expected monthly volumes and corridors, and the source of funds. Applications are usually held up where the description does not match the supporting documents or the intended payment flows.

How to Open a US Bank Account from the UK

1. Decide what you actually need — a personal US account, a US business bank account, or only USD receiving details. This determines which providers are even in scope.
2. Confirm eligibility for your residency and entity. Check supported countries, entity types and any industry restrictions before investing time in an application.
3. Prepare identification, address, company and tax documents. Have formation documents, the EIN letter, beneficial owner ID and business activity details ready in one pass.
4. Submit the application and complete verification. Expect automated checks followed, in many cases, by manual KYB review.
5. Review fees, transaction limits and payment rails before funding. Confirm incoming ACH and wire details, monthly charges and any minimum balance conditions.
6. Test receiving and sending USD first. Run a small inbound and outbound payment before moving critical business flows onto the account.

How Much Does It Cost to Open a US Account?

Opening is often free; running the account is where cost accumulates. Budget for six items:

• Application or opening fees — many providers charge nothing to open, including Mercury and Wise Business.
• Monthly maintenance and minimum balance conditions — Mercury's core business account is free with no minimum; traditional banks vary widely.
• Incoming and outgoing wire fees — USD international wires are free on Mercury; incoming USD wires on Wise Business are priced per payment; traditional banks commonly charge in both directions.
• ACH transfer fees — usually free on fintech platforms; bank charges vary.
• FX conversion costs — the largest variable. Mercury applies 1% on non-USD international payments, and Wise Business publishes the fee and rate before you confirm.
• Additional service charges — expedited processing, specialised local accounts or premium support tiers.

The practical comparison is the spread, not the headline fee. A "free" account with a 1.5% FX margin costs more on meaningful volume than a paid plan with interbank-plus-0.5%.

US Bank Account vs. Multi-Currency Business Account

These are not the same product, and treating them as interchangeable is where most of the disappointment starts.

Choose a US bank account when you need deposit insurance, cheque handling, cash services or a US lending relationship. Choose a multi-currency account when the job is collecting, holding, converting and paying out across markets. Many businesses hold both.

Common Reasons Applications Are Rejected or Delayed

• Unsupported residency or company structure. A UK LTD applying for a US business account, or a founder resident in a restricted country, will usually be declined outright by US-focused providers.
• Incomplete or inconsistent documents. Names, addresses and ownership percentages that differ across files are the most frequent cause of avoidable delay.
• Unclear business activity or source of funds. Vague consulting descriptions with no website or contracts tend to trigger extended review.
• Address and ownership verification issues. A registered agent, PO box or mailbox address used as the principal place of business is rejected by several providers.
• Provider-specific restrictions. Sanctioned jurisdictions, regulated financial services, money services business activity, adult content, gambling and trusts are commonly excluded.

Most of these are fixable before you apply. Confirming eligibility and lining up consistent documentation is faster than appealing a rejection.

FAQs About Opening a US Bank Account from the UK

Can a UK resident open a US bank account online?

Sometimes, but rarely without a US connection. Most large US banks ask for a US residential address and a US taxpayer identification number, and several still require an in-person branch appointment. Where online onboarding is available to non-residents, it usually comes through a fintech provider rather than a bank. If you have no US entity or SSN/ITIN, the multi-currency route with US local receiving details is generally the more realistic option.

Can a UK company open a US business bank account?

Directly with a US bank, usually not — US banks generally bank US entities. A UK-registered company can, however, open an account with non-bank providers that support UK entities, and receive USD through local US receiving details without forming a US company. If you frequently invoice US clients and want domestic settlement, that is normally sufficient.

Do I need an EIN to open a US business account?

You need an EIN if you have a US-registered entity, and virtually every US business account provider requires the IRS-issued EIN letter before onboarding. You do not need one merely to receive USD into a multi-currency account held under a UK or Hong Kong entity. The distinction is entity formation: no US company means no EIN requirement.

Can I receive US payments without a traditional US bank account?

Yes. A multi-currency business account can issue US local receiving details, so your customers pay by ACH or domestic wire at local cost and the funds land in your balance. What you give up is FDIC deposit insurance, cash and cheque handling, and a US lending relationship. For businesses collecting from US customers and paying suppliers overseas, the trade-off is usually worth it.

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