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How to open a USD business account as a non-US resident

Last update: May 19, 2025

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If you’re looking to expand your business to the US, this should be an exciting time for you. However, you might be finding that a number of challenges are getting in your way:

Using a foreign business account comes with huge foreign exchange (FX) fees and slow settlement speeds, which would slash your profits and delay order fulfilment
Setting up a US bank account is a long and complicated process, delaying your entry to market
You can’t sell on marketplaces like Amazon US without local US bank account details, closing off your business to a big target audience

If you’ve done any research already, you may have found some articles online explaining how to open a US business account without being a resident there. The process often involves registering your business in the US as a Limited Liability Company (LLC) and applying for an Employer Identification Number (EIN) – steps which can slow down your market entry.

Plus, you may have seen that you need to go to the US to set up a business bank account, in order to submit documentation in person and pay certain fees. This is obviously a hassle – particularly when, as a small business, you don’t have a lot of time to spare.

If the sound of this process is putting you off, don’t worry. In reality, you don’t need to set up a US bank account to do business or sell your products in the US.

In this article, we outline what you can do instead. Rather than setting up a US business account with a local bank, you can use a multi-currency business account from WorldFirst. With a World Account, you get local US details that you can use to receive business funds – and you can do it all online.

Read on to learn:

How a World Account saves you the hassle of opening a USD business account as a non-resident
How to create a World Account
Three options for creating an account with a local bank in the US

Already keen to get started? Create your multi currency business account with WorldFirst here.

How a World Account saves you the hassle of opening a USD business account as a non-resident

Opening an account with a traditional US bank when you’re not a US resident is possible, but you’re going to need to get quite a few things sorted.

You’ll typically need to register your business in the US, apply for an EIN and have a fixed US business address to receive documentation. You’re also likely to need a certain minimum deposit amount to open the account, which varies from bank to bank.

At WorldFirst, we help you to avoid all of that hassle – as well as the additional charges to your business. We offer simplified and secure solutions for global payments, so you can do business and transfer money overseas more affordably. For over 20 years, we’ve helped over a million businesses all over the world receive more than $300 billion.

The World Account is a multi-currency account for businesses with local account details in USD and 20+ other currencies. This enables you to sell to the US without all of the costs and paperwork associated with opening a local bank account.

Here’s a snapshot of the key features:

Access local account details to receive funds in USD
Open an account online in minutes without needing to visit a branch or set up a local entity
Hold, receive and send USD from one account to avoid forced conversions
Use FX management tools to time your conversions and protect your margins

Read on to learn about the benefits of a World Account compared with a local business bank account in more detail. Or set up an account today.

1. Create and manage your account for free

WorldFirst offers a fully digital approach to account creation, so you won’t need to visit the US to open an account. All you need is some basic company information – including company name, company VAT number and personal identification documents – and you can set up your business account to start receiving USD.

What’s more, there are no fees to open or maintain your account, no monthly minimum balances and no fees for collecting funds. This means you can retain more of your profits and reinvest them into your overseas expansion.

You can manage your entire account online – including payments and balances in USD – without needing a US bank or entity. And if you ever need assistance, you have access to a local support team operating during UK business hours.

Plus, if the US is just the beginning for you, you’re in the right place. You can add local account details in 20+ additional currencies to your multi-currency account with a few clicks.

2. Receive earnings from the US quickly and easily with local account details

Once you’ve set up a World Account, you can open receiving accounts in 20+ currencies around the world, including USD, EUR, and AUD. You can find the full list here.

By setting up a USD account you’ll get local account details, including an ABA routing number and a SWIFT code. These details enable you to receive and hold funds in USD via local payment networks, even if you’re based in the UK. You can get paid by US customers and platforms or invoice B2B customers such as importers – without having to deal with international transfers.

Essentially, you’re getting all you’d want from a local US bank account without having to set one up. Instead, you can receive payments to your multi-currency account in USD, hold funds in the local currency and convert the funds to GBP or another currency when you wish.

If you hold funds in USD, you can pay local suppliers, staff or tax authorities without international transfer fees. And there are no transaction fees when transferring between two World Accounts.

3. Lock in the best rates with FX management tools

When you convert the revenue made from your US sales to GBP, you’re going to want to get the best FX rate possible. However, if you’re making regular payments, you never know how the value of currencies is going to change. This can make it difficult to forecast accurately.

WorldFirst offers several options to help you mitigate currency fluctuations. For instance, you can lock in an exchange rate for up to 24 months, so you know how much GBP you’ll receive.

Alternatively, you can target a specific exchange rate with a firm order. When that target rate is reached, the conversion executes 24/7, without you having to watch the markets constantly.

4. Connect directly to 130+ marketplaces and payment gateways

One of the main reasons why international businesses look to open a business account in the US is because it’s necessary for selling on e-commerce marketplaces, including Amazon US, TikTok Shop, Etsy and more.

With a World Account, once you’ve set up your marketplace seller account, you can use your US details to accept payments straight away. We connect with over 130 marketplaces and payment gateways. If you run an e-commerce business, these platforms are key to reaching customers and staying competitive. A World Account makes it easy to get paid.

When payouts from Amazon and TikTok Shop are released, your funds often land in your account the same day. That means improved cash flow for your day-to-day business operations. The faster you’re able to access your funds, the faster you can make payments to your suppliers, ensure staff are paid on time and jump on marketing opportunities.

5. Manage your international and domestic payment operations in one place

Expanding to the US might seem like doubling your workload and stress. But it doesn’t have to.

With a World Account, you can view and manage your GBP and USD balances in one place – making it easier to track income, compare performance across markets and stay in control of your business finances. And if you need to move money between those accounts, or categorise your transactions, you can also do so within the same platform.

Not having to keep track of all income and expenditure across two accounts makes bookkeeping and financial forecasting easier and more accurate. Operational mistakes due to human error are less likely, saving you the costs and time associated with resolving them.

Your World Account also integrates with Xero and NetSuite, which take out some of the manual labour of financial management so you can concentrate on growing your business.

How to create a World Account

Ready to start doing business in the US with your World Account? Here’s how to get set up:

Get started by visiting our official online registration portal
Fill in your account details, such as company registration number, address and personal information
Provide the necessary verification documents

That’s it! The process usually takes less than 24 hours and then you’re ready to go.

If your business would benefit from features like a multi-currency virtual card that lets you pay in USD and other major currencies without FX fees, you can apply for one here.

How Bull Doza grew globally with WorldFirst’s account for e-commerce payments

Bull Doza, a UK-based sportswear startup, faced difficulties expanding internationally. They had a strong demand for their product in America, but without a physical presence in the US, they weren’t able to set up a local bank account to sell on US platforms. Nor did UK banks offer truly international banking services.

There were also concerns over how they would manage large transactions in foreign currencies. All of this was preventing Bull Doza from reaching the next stage of growth.

A World Account was able to provide:

User-friendly hedging: The WorldFirst platform made it straightforward to handle large currency transactions and provided total transparency in currency exchange rates, eliminating hidden costs.
Access to online marketplaces: Bull Doza’s founders were able to download an account ownership statement in seconds to use as proof when it came to setting up a presence on Amazon.
Streamlined accounting with Xero: WorldFirst’s integration with Xero provided the Bull Doza team with a clear view of their financial health for better decision-making.

The results speak for themselves:

A three- to six-month reduction in their entry time to new markets
An average of 1–3% saved on every $10,000+ sized international transfer when compared to traditional banks. This significantly reduced Bull Doza’s operational costs
An aim of a tenfold increase in sales over the next couple of years due to the access to new markets their WorldFirst account gives them

Read the full case study: Bull Doza’s knockout move into global markets

Three options for creating an account with a local bank in the US

We’ve shown you that you don’t actually need a local business account if you’re looking to do business in the US.

A World Account enables your business to receive international payments, pay suppliers efficiently, convert currencies and more, while removing the challenges of creating an account as a non-US resident.

However, if you’re still convinced that you need a business account from a local US bank, then here are some options.

1. Citibank

Citibank is known for its global presence, and it caters for businesses that reside outside of the US. Its Citi Commercial Bank option provides banking solutions specifically for SMEs looking to grow internationally.

To create a US business bank account, you’ll need to visit a branch in person, and provide two forms of government-issued ID. Without a minimum monthly balance of $5000, you’ll be charged $10-15 monthly for the account.

Citibank has a strong reputation as a reliable account provider, operating in over 90 countries and supporting 85% of Fortune 500 companies. You can feel confident that once your account is set up, you’re in safe hands.

2. Wells Fargo

Wells Fargo is one of the most established banks in the US, offering basic banking services including debit cards, credit cards and online banking. Its Initiate Business Checking account option is aimed at businesses that are just getting started, so may be well suited to your business if you need time to find your feet in the US.

There’s a $10 monthly fee, but this can be avoided with a minimum daily balance of $500, and it costs $25 to create the account. You’ll need to visit Wells Fargo in person to confirm eligibility and create an account as a non-resident, bringing your EIN number, two forms of ID and a US proof of address.

3. Chase Bank

Chase Bank (or JP MorganChase) is another bank with a strong reputation for global business. It has different account options that come with varying setup and maintenance fees of up to $95 a month.

Your account can be “pre-authorised” without you attending a branch in person. However, for official account opening you’ll need to visit a branch within 30 days.

A full list of requirements can be found here.

Start selling to the US and beyond with a World Account

The World Account is designed to help you to start doing business in the US as quickly as possible, and then support you throughout your international expansion. It enables you to:

Access local account details in USD to receive funds just like a US business
Create a World Account online, which usually takes less than 24 hours to approve
Connect to 130+ marketplaces and payment gateways
Manage your UK and US collections and payments in one place
Save money on FX, by locking in favourable rates or targeting set rates

As you enter new markets, your World Account gives you local account details in 20+ currencies, so you can get paid like a local, wherever you do business.

If you’re ready to get started, open a World Account now.

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