Simple banking vs Account organization - Find the best banking solution for your non-resident Wyoming LLC
Choosing between Novo and Relay 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. Novo is a modern digital banking solution that Freelancers, consultants, and small service businesses. Relay, on the other hand, Businesses needing multiple accounts and team expense management. Both banks serve Wyoming LLCs, but their approaches and requirements differ significantly. Before opening an account, ensure you have completed your Wyoming LLC formation and obtained an EIN for non-residents.
| Feature | Novo | Relay |
|---|---|---|
| Monthly Fee | $0 | $0 (Pro: $30/month) |
| Minimum Deposit | $50 (recommended) | $0 |
| ATM Access | ATM fee rebates up to $7/month | No ATM card on free plan |
| Approval Time | Instant to 1 business day | 1-2 business days |
| Best For | Freelancers, consultants, and small service businesses | Businesses needing multiple accounts and team expense management |
| Virtual Cards | No | No |
| API Access | No | No |
| International Transfers | Limited | 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. Novo typically takes Instant to 1 business day, while Relay takes 1-2 business days.
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 Novo as the primary choice because digital banks are more accommodating to international founders without US residency. Novo offers Freelancers, consultants, and small service businesses.
Consider your banking requirements, transaction volumes, and whether you need payment processing integrations.
For non-residents with a Wyoming LLC, Novo is generally more accessible while Relay offers Multiple Accounts and Team Access. Both require an EIN and US LLC.
Yes, both Novo and Relay accept applications from non-residents with an ITIN or just passport + EIN for most digital banks. Traditional banks may require an SSN.
Novo charges $0 monthly with $50 (recommended) minimum deposit. Relay charges $0 (Pro: $30/month) with $0 minimum.
Novo typically takes Instant to 1 business day, while Relay takes 1-2 business days. Digital banks are generally faster than traditional banks.
You need a Wyoming LLC before opening a US business bank account.
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