Yes, a UK company can open a US bank account, but the process is slower and more document-heavy than it is for US businesses
Most US banks will open accounts for foreign companies, but they treat UK businesses as higher-risk customers. This means you will need to provide more paperwork, prove the legitimacy of your business, and often wait longer for approval. Some banks have dedicated international business teams; others will turn you away. The fastest route is usually a bank that already works with UK companies or one that has a physical presence in the UK.
The core requirement is a US tax identification number (EIN), which you can get before you open the account. You will also need to prove who owns and controls the company, show recent financial statements, and explain what the account will be used for. If your company is very new, has no US operations yet, or cannot clearly show where its money comes from, approval becomes harder.
Key Takeaways
- You must obtain a US EIN from the IRS before most banks will open an account, which takes one to two weeks if you apply online.
- Banks will ask for your company's articles of incorporation or equivalent UK registration documents, proof of ownership, and recent financial statements.
- Some banks require a US address or a US representative; others will accept a UK address if you have an EIN and can explain your US business purpose.
- The approval process typically takes two to six weeks, and some mainstream banks will decline foreign companies outright.
- Specialist banks and those with UK operations often have faster, clearer processes for UK business accounts than high-street US banks.
Getting a US tax ID number before you apply
The IRS issues an Employer Identification Number (EIN) to foreign companies that need to do business in the US or open a bank account. You do not need to have employees or a physical office in the US to get one. The application is free and takes about 10 minutes online.
Apply through the IRS website using Form SS-4. If you apply online, you receive your EIN immediately. If you apply by mail or fax, it takes two to three weeks. Once you have the EIN, you can use it on the bank application. Some banks will open an account while your EIN application is in progress, but most will not.
Documents you will need to provide
Every bank asks for different combinations of these, but expect to provide most of them. Have certified copies ready — many banks require documents to be certified by a notary or apostille (a form of international certification).
| Document | What it shows | Notes |
|---|---|---|
| Certificate of Incorporation or equivalent UK registration document | That your company legally exists | Must be current and certified. Request from Companies House if you are a UK limited company. |
| Memorandum and Articles of Association (or equivalent) | Your company's governance structure | Shows who has authority to open bank accounts and sign cheques. |
| Proof of ownership and control | Who owns the company and who makes decisions | Usually a shareholder register or cap table. Banks want to know the real beneficial owners. |
| Recent financial statements | That your company has legitimate income | Usually the last two years of accounts. New companies may be asked for projections instead. |
| US EIN confirmation | Your tax ID number | The IRS letter or online confirmation. Some banks will not open the account without this. |
| Personal ID for signatories | That the people opening the account are real | Passport or driving licence. Banks may ask for ID from multiple directors or owners. |
| Business plan or purpose statement | Why you need a US account | A short explanation of what the account will be used for — invoicing US clients, paying US suppliers, etc. |
Banks increasingly ask for proof that your company is not a shell or a money-laundering vehicle. If your company is brand new, has no revenue yet, or operates in a high-risk sector (cryptocurrency, gambling, import-export), expect more scrutiny and more documents.
Which banks are most likely to say yes
Specialist banks and those with international operations move faster than high-street banks. Silicon Valley Bank, for example, has worked with UK tech companies for years and has a streamlined process. Wise (formerly TransferWise) offers business accounts to UK companies and has a US banking partner, though the process is different from a traditional bank account.
Banks with UK branches or subsidiaries — such as HSBC, Barclays, and Lloyds — often have dedicated international business teams and can move faster because they already know your company's jurisdiction. If your UK bank has a US presence, ask them first; they may be able to open a US account for you without starting from scratch.
Avoid applying to multiple banks at once. Each application triggers a hard credit check, and multiple checks in a short time can damage your credit profile. Apply to one, wait for a decision, then move to the next if you are declined.
What happens if the bank asks for a US address or representative
Some banks require a US address for the account. This does not have to be your office — it can be a virtual office address, a mailbox service, or even the address of a US accountant or lawyer who works with your company. Services like Regus or WeWork offer virtual addresses in most US cities.
A few banks ask for a US representative — someone who can sign documents and represent the company in the US. This is often a lawyer, accountant, or business agent. If you do not have one, you can hire one for this purpose; costs vary but typically run from $500 to $2,000 for the setup and first year.
If a bank declines because you cannot meet these requirements, it is worth asking whether they will waive them if you open the account with a higher minimum balance or agree to higher fees. Some will negotiate.
Timeline and what to expect during approval
The process usually takes two to six weeks from the day you submit all documents. The bank will review your documents, run background checks on the company and its owners, and verify your EIN with the IRS. If anything is unclear or missing, they will ask for more information, which can add another week or two.
Some banks will tell you within a few days whether they are interested; others will keep you waiting. If you have not heard back after three weeks, call and ask for a status update. Banks do not always volunteer information about delays.
Once approved, the account opens within a few days. The bank will send you login credentials, a debit card (if you requested one), and instructions for making your first deposit. Most banks require an initial deposit to activate the account; this ranges from $0 to $500 depending on the bank and account type.
Ongoing compliance and reporting requirements
Once your account is open, you have ongoing obligations. The bank will file a Currency Transaction Report (CTR) if you deposit more than $10,000 in cash in a single day. You must file a Foreign Bank Account Report (FBAR) with the US Treasury if you have more than $10,000 in foreign bank accounts at any time during the year — this applies to the company, not to you personally, but it is worth knowing.
The IRS also requires foreign companies with US bank accounts to file an annual Form 5471 if they have US-source income. Your accountant should handle this, but it is your responsibility to make sure it happens. Failure to file can result in penalties.
The bank may ask for updated financial statements or proof of ongoing business activity every year or two. This is normal and not a sign that your account is at risk.
Frequently Asked Questions
Do I need a US business license or registration to open a bank account?
No. A bank account does not require you to register as a business in any US state. You need only an EIN and proof that your UK company exists. However, if you plan to hire employees, rent an office, or do substantial business in a particular state, you may need to register separately — but that is a different process from opening a bank account.
Can I open a US account if my UK company is a sole trader or partnership?
Yes, but it is slower. Banks prefer limited companies because the ownership structure is clearer and more formal. Sole traders and partnerships can open accounts, but you will need to provide more personal financial information and proof of business legitimacy. Some banks will decline partnerships outright.
What if my company is brand new and has no revenue yet?
Most banks will still open an account, but approval takes longer and you may face more questions. Have a clear business plan ready, explain what the account will be used for, and be prepared to show projections or evidence that you have clients lined up. Some banks ask for a higher minimum deposit from new companies.
Can I use a UK address for the account, or do I need a US one?
Most banks will accept a UK address if you have an EIN and can explain your US business purpose. Some require a US address; if yours does, a virtual office or mailbox service counts. Ask the bank directly before you apply — their website or a quick phone call will tell you whether they accept foreign addresses.
How much money do I need to deposit to open the account?
This varies by bank and account type. Some require no minimum; others ask for $500 to $5,000. Ask the bank before you apply. The minimum deposit is not a fee — it is money in your account that you can use or withdraw once the account is open.