Tech startup vs Freelancer focus - Find the best banking solution for your non-resident Wyoming LLC
Choosing between Mercury and Novo is a critical decision for your Wyoming LLC. As a non-US resident, you need a bank that understands international founders and offers the features your business requires. Mercury is a modern digital banking solution that Tech startups, SaaS companies, and businesses needing API access. Novo, on the other hand, Freelancers, consultants, and small service businesses. Both banks serve Wyoming LLCs, but their approaches and requirements differ significantly. Before opening an account, ensure you have completed your registered agent service and obtained an US banking guide.
| Feature | Mercury | Novo |
|---|---|---|
| Monthly Fee | $0 | $0 |
| Minimum Deposit | $0 | $50 (recommended) |
| ATM Access | 55,000+ Allpoint ATMs | ATM fee rebates up to $7/month |
| Approval Time | 1-3 business days | Instant to 1 business day |
| Best For | Tech startups, SaaS companies, and businesses needing API access | Freelancers, consultants, and small service businesses |
| Virtual Cards | Yes | No |
| API Access | Yes | No |
| International Transfers | Yes | Limited |
*Fees and features subject to change. Verify current terms on each bank's website before applying.
Both banks require specific documentation for non-resident Wyoming LLC owners. Having these prepared will speed up your application:
First, form your Wyoming LLC with a registered agent service.
Apply for an EIN without an SSN.
Collect your passport, LLC formation documents, operating agreement, EIN confirmation, and proof of address.
Visit the bank's website and complete their online application. Upload all required documents clearly.
Wait for verification. Mercury typically takes 1-3 business days, while Novo takes Instant to 1 business day.
Once approved, fund your account with the minimum deposit and start banking.
Choose the bank that aligns with your business needs
For most non-resident Wyoming LLC owners, we recommend Mercury as the primary choice because digital banks are more accommodating to international founders without US residency. Mercury offers Tech startups, SaaS companies, and businesses needing API access.
Consider your banking requirements, transaction volumes, and whether you need payment processing integrations.
For non-residents with a Wyoming LLC, Mercury is generally more accessible while Novo offers Invoicing and Reserves. Both require an EIN and US LLC.
Yes, both Mercury and Novo accept applications from non-residents with an ITIN or just passport + EIN for most digital banks. Traditional banks may require an SSN.
Mercury charges $0 monthly with $0 minimum deposit. Novo charges $0 with $50 (recommended) minimum.
Mercury typically takes 1-3 business days, while Novo takes Instant to 1 business day. Digital banks are generally faster than traditional banks.
You need a Wyoming LLC before opening a US business bank account.
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