Business account for LLCs
Business bank account for your LLC
Yes, your LLC can open a business account with Bancoli online. Bancoli is a chartered bank and a fintech in one. LLCs registered in a supported US state, or in another supported country, can apply. After verification you get US dollar account details in your LLC's legal name, so clients can pay you by ACH or RTP, plus a Smart USD wallet and free FX in 25+ currencies.
Open your Smart USD walletCan my LLC open a Bancoli business account?
Where your LLC is registered decides if it qualifies, not where you live. Check your state of formation before you gather any documents.
"For US-registered businesses and solopreneurs, Bancoli can currently open accounts in these states:"
- Hawaii
- Kentucky
- Maine
- Maryland
- Massachusetts
- Montana
- New Hampshire
- New Jersey
- North Carolina
- Ohio
- Pennsylvania
- Washington
- Wyoming
"We cannot currently open a Bancoli account for a business registered in any other US state or United States territory."
LLCs formed outside the US can apply too. The eligibility page says: "Bancoli can open accounts for eligible solopreneurs and registered businesses in most countries."
You can run your LLC from almost anywhere. The eligibility page says: "The owners can be located almost anywhere, as long as their business is located in a supported US state or another supported country." Some owner tax residences are excluded.
What you get
- US dollar account details in your LLC's legal name, after verification.
- Payments by ACH, RTP and US domestic wire, plus supported stablecoins.
- A self-custodial Smart USD wallet that holds eligible USDC, USDi or USDT. They are fully backed. They are not a deposit and are not FDIC-insured.
- Free FX in 25+ currencies at the real mid-market rate when you pay people abroad.
What to have ready before you apply
Have your LLC's formation details, ownership information and ID for the owners at hand. You verify your LLC and its owners online as part of the application.
How to open it online
- Apply online with your LLC's details.
- Verify your LLC and its owners.
- Share your US dollar account details with your clients.
Single-member LLC vs sole proprietor
A single-member LLC gets US dollar account details in the LLC's legal name, like any other business. If you work on your own without an LLC, you can apply as a solopreneur and your details are in your personal name.
The Bancoli FAQ says: "It is a business account. Freelancers, small companies, and large companies can use it. You can also open it as a sole proprietor."
Foreign-owned LLCs
If you live outside the US and own a US LLC, the LLC still has to be registered in a supported state. The owners can live almost anywhere.
Questions about a business account for your LLC
Ready to get paid in US dollars?
Open your Smart USD wallet and share your LLC's US dollar account details with clients.
Open your Smart USD walletStablecoins in your Smart USD wallet are not a deposit and are not FDIC-insured.