Banking in United States
The deepest banking market on earth — and a fintech frontier for founders
The US pairs thousands of FDIC-insured banks and credit unions with a dense layer of business-banking fintechs (Mercury, Brex, Novo, Relay) that onboard online in days. The hard part for founders is not choice but identity: most accounts assume a US entity (EIN) and US owner identity, though several fintechs serve foreign founders of US-incorporated companies.
Find my United States account →Top business accounts — United States
| Bank | |||||
|---|---|---|---|---|---|
| Free · 84% | None · 82% | 1 days · 56% | 81/100 · A | ||
| Free · 84% | None · 82% | 2 days · 56% | 79/100 · B | ||
| Free · 82% | None · 80% | 2 days · 56% | 78/100 · B | ||
| Free · 80% | None · 78% | 2 days · 56% | 77/100 · B | ||
| $15 · 66% | $2,000 · 58% | 3 days | 62/100 · B |
Who regulates banking in United States
Office of the Comptroller of the Currency — charters and supervises national banks and federal savings associations.
Federal Deposit Insurance Corporation — insures deposits (standard $250,000 per depositor, per insured bank, per ownership category) and supervises many state banks.
Central bank and supervisor of bank holding companies and state member banks; runs the core payment rails.
Financial Crimes Enforcement Network — AML/KYC rules and beneficial-ownership reporting that shape business account opening.
US residents & US companies
Widest access of any market — national banks (Chase), regional banks, credit unions and fintechs. With an EIN and valid owner ID, online fintechs can open in 1–2 days; branch banks often same-day.
Non-resident / foreign founders
Hard at branch banks (usually need US presence + SSN/ITIN). The realistic route is a US-incorporated entity (LLC/C-Corp via a formation agent) plus a fintech that serves foreign founders — Mercury and Brex have historically done so. Policies change; verify current eligibility.
Entity types (LLC, C-Corp, S-Corp)
All are bankable. C-Corp is common for VC-backed startups (Delaware); LLC is common for SMBs and solo founders. An EIN is effectively required for a business account; S-Corp is a tax election, not a separate entity for banking.
Best business banks — US
See all →- ✓Directly serves your need: business acct.
- ✓Strong approval odds for your profile (~76%).
- ✓Directly serves your need: business acct.
- ✓Strong approval odds for your profile (~74%).
- ✓Directly serves your need: business acct.
- ✓Strong approval odds for your profile (~75%).
- ✓Directly serves your need: business acct.
- ✓Strong approval odds for your profile (~66%).
- ✓Directly serves your need: business acct.
- ✓Strong approval odds for your profile (~70%).
Best for startups
See all →- ✓Directly serves your need: business acct.
- ✓Matches: startup, digital.
- ✓Directly serves your need: business acct.
- ✓Matches: startup, digital.
- ✓Directly serves your need: business acct.
- ✓Matches: digital.
- ✓Directly serves your need: business acct.
- ✓Matches: digital.
- ✓Directly serves your need: business acct.
- ✓Strong approval odds for your profile (~70%).
Best for non-resident founders
See all →- ✓Directly serves your need: business acct.
- ✓Matches: non-resident.
- ✓Directly serves your need: business acct.
- ✓Strong approval odds for your profile (~74%).
- ✓Directly serves your need: business acct.
- ✓Fast to open (~1 days).
- ✓Directly serves your need: business acct.
- ✓Fast to open (~2 days).
- ✓Directly serves your need: business acct.
- ✓Fast to open (~3 days).
United States banking — frequently asked
Can a non-resident open a US business account?
Yes, but most options require a US-registered entity (LLC or C-Corp) with an EIN. Branch banks typically need a US presence and SSN/ITIN; the practical path for foreign founders is a US entity plus a fintech that accepts non-resident owners (Mercury and Brex have historically done so). Eligibility policies change — always verify current rules with the provider.
Do I need an EIN or an ITIN?
An EIN (Employer Identification Number) identifies the business and is effectively required to open a business account; you obtain it from the IRS, and non-residents can get one without an SSN. An ITIN is a personal taxpayer ID for individuals without an SSN — some banks accept it for the owner’s identity, but EIN is the business-level requirement. This is informational, not tax advice.
Fintech vs chartered bank — is my money FDIC insured?
Fintechs like Mercury, Brex, Novo and Relay are not themselves chartered banks; they place your deposits at FDIC-insured partner banks, so funds are insured at those banks (standard $250,000 per depositor, per bank, per ownership category — some programs sweep across multiple banks for higher coverage). A chartered bank like Chase is itself FDIC-insured directly. Insurance covers bank failure, not the fintech’s own operational risk — confirm the named partner bank(s) and coverage with the provider.