Open a Chase or Bank of America account for your LLC: branch visits, ITIN and documents
Prepare your LLC's banking with Exentax: Chase, Bank of America, Citi, Amex cards and Square with an ITIN. Requirements, documents and personal support.
A US LLC can combine a bank with branches, foreign-exchange services, a payment processor and business cards. Each serves a different purpose: receiving money, paying suppliers, taking card payments or financing expenditure. Exentax also helps with traditional banks, including preparing applications for Chase and Bank of America where your circumstances fit the institution's application route.
Looking at the whole structure makes it easier to choose before you apply. This guide covers the role of an ITIN, preparing for a branch appointment, the differences between Chase, Bank of America and Citi, and where American Express, Square and credit fit in. A well-organised LLC can develop its financial arrangements without relying on a single provider.
Separate the account, the card, the borrowing and the payments
Start with the job you need the product to do. A consultancy paid by bank transfer has different priorities from a retailer taking card payments or a business looking to finance equipment.
| What you need | Product to consider | First question to answer |
|---|---|---|
| Receive and send the LLC's money | Business bank account | Which currencies, transfers, fees and signers? |
| Pay business expenses | Debit or business card | Where does the money come from and when is payment due? |
| Finance a purchase or working capital | Credit card, loan or credit line | How much, for how long, at what cost and with what repayment capacity? |
| Accept customers' card payments | A processor such as Square | Is the activity eligible and how are the company and representative verified? |
Keeping these decisions separate means you do not choose an account expecting it to include financing. It also makes card comparisons useful: spending in USD, foreign-currency purchases, employee cards and benefits you will actually use. The brand is one consideration; the specific product and agreement matter just as much.
What an ITIN does in a banking application
The EIN identifies the company. The ITIN is the individual's tax number. Banks and card issuers that accept it may request it as part of the owner's or representative's information, alongside the documents used to establish identity.
The IRS issues an ITIN for a federal tax purpose to someone who is not eligible for an SSN. Wanting a bank account or card does not, on its own, establish that tax purpose. Exentax reviews both the basis for the ITIN application and the financial services you want to prepare for.
Not every LLC account requires an ITIN. We establish the provider's requirements before treating it as a necessary step. Where it is appropriate, we arrange the application through a CAA without mailing your original passport to the IRS. Our ITIN application guide covering W-7 and CAA verification explains that procedure; this article focuses on using the number in banking.
Chase: who attends and what your LLC needs
Chase distinguishes online applications from branch applications. Its online route covers certain single-member, single-manager LLCs with one authorising representative. Multi-member, multi-manager and other ownership arrangements are directed to a branch.
For branch openings, the published guidance calls for all members of a member-managed LLC or all managers of a manager-managed LLC to attend. Reviewing the Operating Agreement therefore comes before booking the appointment: ownership and management authority are different matters.
Chase provides for ITIN use in certain non-US-citizen applications. It also requires personal identification and formation evidence, with current-status documentation where applicable. The exact list needs to match the LLC and the application channel.
We help establish who should participate, organise the relevant documents and explain the account's intended use. You arrive with a prepared application and informed questions, rather than expecting the EIN alone to resolve the opening process.
Bank of America: check residence, operations and the application route
Bank of America needs a separate assessment. Its published LLC requirements specify US formation and primary operations, and state that applicants for the published route should be US residents.
A US company with foreign owners and an individual who resides in the United States are not the same thing. An application should describe each accurately, together with where the business actually operates.
We can help assess and prepare a Bank of America application. The first step is reviewing residence, operations and authorised people, then confirming the appropriate procedure with the institution. If your circumstances do not fit its published online channel, another route must be expressly confirmed rather than assumed.
Likewise, information about personal accounts for foreign nationals is not a business-account eligibility policy. Doing this work early helps you decide whether to pursue Bank of America or select another institution better suited to your current needs.
Citi: an account application is not a lending application
Citi's business preparation guide distinguishes account-opening documents from those needed for loans and credit lines. It also describes alternative identification for certain nonresident associated individuals without an SSN or ITIN.
This is a useful example of why ITIN requirements should not be generalised across every bank. Before an appointment, establish each person's role, the acceptable documents and whether the chosen location handles the product.
An account application focuses on the company, owners and signers. A lending request also needs a clear purpose and repayment basis. Exentax can help prepare both discussions, with the right information for each rather than one generic application.
Prepare the documents and addresses that actually belong to the application
A useful banking submission is current and relevant. Sending a large folder of unrelated documents is not the objective. Depending on the selected procedure, preparation may cover:
- Company details: legal name, EIN, formation document and evidence of current standing if required.
- Ownership and management: members, percentages, managers and the current Operating Agreement.
- Signing authority: authorised people and a banking resolution or authorisation where requested.
- Personal identification: passport or other accepted ID, contact details and the applicable tax identifier.
- Business activity: a concise description, website and relevant contracts or invoices.
- Account use: expected receipts, payments, currencies and the origin of the initial deposit.
Keep the registered address, operating address and personal residential address separate. A registered agent's address does not become the owner's home address simply because the LLC uses it. Operations may take place abroad, including at your home where that reflects reality; the question is whether the particular provider accepts that business profile.
We also distinguish assistance, document delivery and signing authority. Authorising Exentax to carry out agreed work does not automatically replace identification or attendance required by a bank. We establish that scope before arranging travel.
American Express and credit cards: understand the agreement
The American Express Business range offers different terms and uses. Consider the annual fee, payment arrangements, expected spending and benefits you will use. Organising business expenditure can be a valid goal even when you do not want to borrow.
For any card, establish who applies, which identification the issuer accepts, who is responsible for payment and how spending capacity is determined. Check whether the agreement includes a personal guarantee, interest on financed balances or a requirement to pay particular amounts in full.
Access to credit is possible where the applicant and product fit. Chase's card application guidance discusses identification, income, address and credit history. An ITIN is not itself a credit history; opening an account does not automatically establish a credit line.
Exentax helps assess suitable options and prepare your application. Understanding personal versus business credit also clarifies whose financial position is assessed and who takes on the obligation. Approval, limits and terms remain the issuer's decision.
Before applying, put the proposed borrowing next to the expenditure it is meant to fund. A short gap between a supplier payment and a customer receipt is different from a long-term investment. Matching the repayment schedule to the purpose makes the comparison more useful than simply looking for the largest available limit.
Square with an ITIN: verify the person and the LLC separately
Square processes payments; it is not the same product as a bank account or credit card. Its US registered-business onboarding guide accepts an SSN or ITIN for personal verification and asks for a legal name, date of birth and US home mailing address.
The LLC's legal name, EIN and business addresses are checked separately. An ITIN can therefore be used for Square when you do not have an SSN, provided the rest of the applicant and business requirements are met. The company's EIN does not replace the requested personal number.
Our role is to review the activity, prepare the relevant information and coordinate the receiving account. You can then assess Square against the payments your business needs to accept, rather than choosing it solely because you have obtained an ITIN.
How Exentax coordinates your banking
- Define the need. How you get paid, who you pay and what your current arrangements are missing.
- Review the structure. LLC, owners, management, addresses and documents already available.
- Choose the product and route. Institution, branch or channel, participants and confirmed requirements.
- Prepare and support the application. Documents, appointments where applicable and responses to information requests.
- Organise everyday use. Receipts, payments, currencies and cards around the services actually agreed.
For example, a service business might retain one account for USD receipts and another for EUR payments, then consider a card for team spending. This is a planning illustration, not an approval case. There is no need to replace an arrangement that works; each additional provider should have a clear job.
Questions about traditional banks, ITINs and credit
Does Exentax help with Chase and Bank of America?
Yes. We review your circumstances, prepare documentation and support the application process. For Bank of America, we pay particular attention to residence, business operations and the applicable application route.
Does every LLC account require an ITIN?
No. Requirements depend on the provider, person and product. If an ITIN is needed, we also review the federal tax purpose supporting the IRS application.
Can preparation take place before I travel?
Yes. Selection, document review and coordination can happen beforehand. We confirm who must attend and what can be handled remotely before arranging an appointment.
Can an LLC obtain cards or financing?
Yes, business products are available. Applications are assessed against the product's requirements, including income, activity, history and guarantees where applicable.
Does Square accept an ITIN?
Its US process accepts an SSN or ITIN to verify the individual. Other personal and business requirements still apply, including the residential mailing address specified in its guidance.
Build the banking arrangements your LLC needs
Tell us what you want to achieve: a traditional banking relationship, another currency, Square or a business card. Exentax reviews your circumstances, recommends a practical combination and handles the preparation and follow-up. Your LLC can support much more than one account. We help you put that potential to work.