Multi-user access vs Solo founders - Find the best banking solution for your non-resident Wyoming LLC
Choosing between Relay 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. Relay is a modern digital banking solution that Businesses needing multiple accounts and team expense management. 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 Relay and obtained an US banking guide.
| Feature | Relay | Novo |
|---|---|---|
| Monthly Fee | $0 (Pro: $30/month) | $0 |
| Minimum Deposit | $0 | $50 (recommended) |
| ATM Access | No ATM card on free plan | ATM fee rebates up to $7/month |
| Approval Time | 1-2 business days | Instant to 1 business day |
| Best For | Businesses needing multiple accounts and team expense management | Freelancers, consultants, and small service businesses |
| 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. Relay typically takes 1-2 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 Relay as the primary choice because digital banks are more accommodating to international founders without US residency. Relay offers Businesses needing multiple accounts and team expense management.
Consider your banking requirements, transaction volumes, and whether you need payment processing integrations.
For non-residents with a Wyoming LLC, Relay is generally more accessible while Novo offers Invoicing and Reserves. Both require an EIN and US LLC.
Yes, both Relay and Novo accept applications from non-residents with an ITIN or just passport + EIN for most digital banks. Traditional banks may require an SSN.
Relay charges $0 (Pro: $30/month) monthly with $0 minimum deposit. Novo charges $0 with $50 (recommended) minimum.
Relay typically takes 1-2 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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