US Banking

  • Move Overview
    Open Overview

    The U.S. banking system is a vast and complex network that has evolved over centuries into one of the most influential financial systems in the world. Whether you’re opening your first U.S. bank account or just curious about how it works, understanding its history, structure, and features can help you navigate it with confidence. Here’s a detailed overview tailored for someone stepping into this system for the first time.

    A Brief History of U.S. Banking The roots of U.S. banking stretch back to the late 18th century. After the American Revolution, the fledgling nation needed a way to manage its finances.

    The First Bank of the United States was chartered in 1791, spearheaded by Alexander Hamilton, to stabilize the economy, issue currency, and handle government debt. It was a controversial experiment and expired in 1811, followed by the Second Bank of the United States (1816–1836), which met a similar fate due to political opposition.

    Without a central bank, the 19th century saw a chaotic "free b

    Overview 771 words
  • Move Mercury
    Open Mercury

    Residents of the below countries are not supported by Mercury Bank:

    1. Afghanistan
    2. Albania
    3. Belarus
    4. Bosnia and Herzegovina
    5. Burundi
    6. Cambodia
    7. Cameroon
    8. Central African Republic
    9. Democratic Republic of Congo
    10. Republic of the Congo
    11. Croatia
    12. Cuba
    13. Eritrea
    14. Haiti
    15. Iran
    16. Iraq
    17. North Korea
    18. Lebanon
    19. Liberia
    20. Libya
    21. Mali
    22. Mozambique
    23. Myanmar (Burma)
    24. Nicaragua
    25. Nigeria
    26. Pakistan
    27. Palestine
    28. Philippines
    29. Russia
    30. Somalia
    31. Sudan
    32. South Sudan
    33. Syria
    34. Ukraine
    35. Venezuela
    36. Yemen
    37. Zimbabwe

    Source of Information

    Looking to Apply for a Mercury Bank Account?

    Download my FREE Step by Step Mercury Guide that let's you submit a high quality application making sure your chances of rejection are minimal.

    Bonus: The guide

    Mercury 169 words
  • Move Relay
    Open Relay

    Residents of the below countries are not supported by Relay Bank:

    1. Afghanistan
    2. Albania
    3. Barbados
    4. Belarus
    5. Bosnia and Herzegovina
    6. Burkina Faso
    7. Burundi
    8. Cambodia
    9. Cayman Islands
    10. Central African Republic
    11. Democratic Republic of Congo
    12. Republic of the Congo
    13. Côte d’Ivoire
    14. Cuba
    15. Cyprus
    16. Equatorial Guinea
    17. Eritrea
    18. Ethiopia
    19. Gibraltar
    20. Guinea
    21. Guinea-Bissau
    22. Haiti
    23. Hong Kong
    24. Iran
    25. Iraq
    26. Jamaica
    27. Jordon
    28. North Korea
    29. Lebenon
    30. Liberia
    31. Libya
    32. Macao
    33. Madagascar
    34. Mali
    35. Malta
    36. Morocco
    37. Mozambique
    38. Myanmar (Burma)
    39. Nicaragua
    40. Nigeria
    41. Pakistan
    42. Panama
    43. Philippines
    44. Russia
    45. Senegal
    46. Sierra Leone
    47. Somalia
    48. Sri Lanka
    49. Sudan
    50. South Sudan
    51. Syria
    52. Turkey
    53. Uganda
    54. Ukraine
    55. United Arab Emirates
    56. Venezuela
    57. Vietnam
    58. Yemen
    59. Zimbabwe

    [Source of Information](https://support.relayfi.com/hc/e

    Relay 154 words
  • Move Payoneer
    Open Payoneer

    Residents of the below countries are not supported by Payoneer:

    1. Afghanistan
    2. Belarus
    3. Central African Republic
    4. Democratic Republic of Congo
    5. Cuba
    6. Eritrea
    7. Guinea-Bissau
    8. Iran
    9. North Korea
    10. Kyrgyzstan
    11. Lebanon
    12. Libya
    13. Myanmar (Burma)
    14. Russia
    15. Somalia
    16. Sudan
    17. Syria
    18. Turkmenistan
    19. Venezuela
    20. Yemen

    Source of Information

    Payoneer 60 words
  • Move Wise
    Open Wise

    Residents of the below countries are not supported by Wise:

    1. Afghanistan
    2. Belarus
    3. Burundi
    4. Central African Republic
    5. Chad
    6. Democratic Republic of Congo
    7. Republic of Congo
    8. Eritrea
    9. Iran
    10. Iraq
    11. North Korea
    12. Libya
    13. Myanmar (Burma)
    14. Russia
    15. Somalia
    16. Sudan
    17. South Sudan
    18. Syria
    19. Ukraine
    20. Venezuela
    21. Yemen

    Source of Information

    Wise 65 words
  • Move Airwallex
    Open Airwallex

    Residents of the below countries are not supported by Airwallex:

    1. Afghanistan
    2. Belarus
    3. Central African Republic
    4. Democratic Republic of Congo
    5. Eritrea
    6. Iran
    7. North Korea
    8. Libya
    9. Myanmar (Burma)
    10. Pakistan
    11. Russia
    12. Somalia
    13. Sudan
    14. South Sudan
    15. Syria
    16. Venezuela
    17. Yemen

    Airwallex’s onboarding team confirmed on email that they can onboard customers who have registered US business but are holding passports under restricted regions so long as you are not residing in these countries.

    Looking to Apply for an Airwallex Account?

    Sign Up for Airwallex

    KYC Material required for Airwellex

    Bonus: Using my partner link makes you eligible for a $500 sign up bonus.

    Airwallex 114 words
  • Move Novo
    Open Novo

    Overview:

    • Novo does not provide banking services for US Non-residents.

    • Is Novo available for non-US citizens?

    Yes! If you reside in the US and operate a legal, US-based business as an LLC, Partnership, Sole Proprietorship or Corporation.

    • Is Novo available for businesses or owners outside of the United States?

    Currently, they can only open accounts for business owners that reside within the US. The business must also be registered in the US. Applicants and other owners must have a social security number, a US cell phone number, and a US address to complete the application.

    • Do I need a social security number to apply for a Novo account?

    During the application process, they require applicants to have a social security number (SSN), US address, and a US cell phone number (not a virtual number). They are currently only able to open accounts for business owners that reside within the US and fit these requirements.

    [Source of Information](https://novo.zendesk.com/h

    Novo 156 words
  • Move Brex
    Open Brex

    Overview:

    • Brex has not publicly published a specific list of countries that they do not provide banking services for.

    • They have only provided a list of Prohibited and Restricted Activities which can be found here Brex Prohibited and Restricted Activities

    Brex 42 words
  • Move Meow
    Open Meow

    Overview:

    • Meow has specifically mentioned the requirements for a US Non-residents which means they allow US Non-residents to bank with them, but moving 1 step forward, they have not provided a list of countries from where founders can or cannot bank with them.

    • What do I need to apply for a business checking account from Meow's partner banks?

    Your business must submit:

    1. Proof of your company’s formation (Articles of Incorporation, etc.)

    2. Proof of your federal EIN (EIN letter)

    3. The physical address from where your business operates, whether in the U.S. or abroad. You will also need to submit proof of that address (a bank statement, lease agreement, etc.). A virtual address is insufficient; even if your company is remote-first, you’ll need to provide a physical address associated with your company.

    4. In some cases, like if you’re not a U.S. citizen, you will be required to submit an official government ID.

    5. Identifying information of all beneficial owners

    [Source of

    Meow 166 words
  • Move Rho
    Open Rho

    Overview:

    • Rho does not mention clearly on it’s website if US Non-residents can apply for a US bank account with them or not.

    • What do I need to set up a business checking account with Rho?

    To be eligible for Rho, your business must be incorporated in the United States. We do not offer services to sole proprietorships or unincorporated businesses. Terms & conditions apply. To open a business checking account with Rho, we require general business information and key documents including:

    1. Articles of Incorporation

    2. Company bylaws

    3. EIN letter

    4. Beneficial owner information

    5. Additional supporting documents where applicable

    Based on the above, it looks like they accept US Non-residents but moving 1 step forward, they have not provided a list of countries from where founders can or cannot bank with them.

    Source of Information

    Rho 140 words
  • Move Slash
    Open Slash

    Overview:

    • Slash does not mention clearly on it’s website if US Non-residents can apply for a US bank account with them or not.

    • However, based on external sources, it seems like they allow US Non-residents to bank with them but moving 1 step forward, they have not provided a list of countries from where founders can or cannot bank with them.

    Source of Information

    Slash 66 words